In a recent published report, Kenneth Research has updated the market report for Asset Performance Management (APM) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Asset Performance Management (APM) Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on Asset Performance Management (APM) Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The Asset Performance Management (APM) Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
The report covers the forecast and analysis of the Asset Performance Management (APM) Market on a global and regional level. The study provides historical data from 2015 to 2019 along with a forecast from 2019-2026 based on revenue (USD Million). In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Asset Performance Management (APM) Market over the period 2019-2026.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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Asset performance management (APM) includes a set of software tools and applications that are designed to enhance the reliability and accessibility of physical assets that play a crucial role in an enterprise’s operation process. The integration of APM software in the industry helps to improve the availability and reliability of physical assets. Furthermore, it reduces operating costs and minimizes risk factors in the business.
The global APM market has been segmented on the basis of offering, deployment mode, vertical, and region.Based on the offering, the APM market has been segmented into software type and services. The software type segment has been further categorized as data management software, predictive asset analytics tools, enterprise asset management software, and pattern recognition software. The enterprise asset management software segment accounted for the largest market share in 2018. However, the predictive asset analytics tools segment is expected to register the highest CAGR. The services segment of asset performance market has been further categorized into managed services and professional services.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2018, North America reported for more than 30 percent market share. Many key players in the industry and established companies are based in North America. Therefore, the region was always at the forefront of research and development activities in the IIoT sector and therefore has a dominant market position.
*Asset Reliability Management
*Asset Strategy Management
*Predictive Asset Management
*Energy & Utilities
*Oil & Gas
*Mining & Metal
*Government & Public Sector
*Chemicals & Pharmaceutical
By Deployment Type
The top players covered in Asset Performance Management (APM) Market are:
ARC Advisory Group(US)
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The Asset Performance Management (APM) Market report examines competitive scenario by analyzing key players in the market. The company profiling of leading market players is included in this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.
About Kenneth Research:
Kenneth Research is a reselling agency which focuses on multi-client market research database. The primary goal of the agency is to help industry professionals including various individuals and organizations gain an extra edge of competitiveness and help them identify the market trends and scope. The quality reports provided by the agency aims to make decision making easier for industry professionals and take firm decisions which helps them to form strategies after complete assessment of the market. Some of the industries under focus include healthcare & pharmaceuticals, ICT & Telecom, automotive and transportation, energy and power, chemicals, FMCG, food and beverages, aerospace and defense and others. Kenneth Research also focuses on strategic business consultancy services and offers a single platform for the best industry market research reports.