Global Asset Performance Management Market Report 2023-2028

Global Asset Performance Management Market Report 2023-2028

IMARC Group has recently released a new research study “Asset Performance Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

What Are The Growth Prospects Of The Asset Performance Management Industry?

The global asset performance management market size reached US$ 20.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 40.4 Billion by 2028, exhibiting a growth rate (CAGR) of 11.5% during 2023-2028.

What is a Asset Performance Management?

Asset performance management (APM) represents advanced solutions that help to manage assets and prioritize business objectives. They mostly rely on advanced technologies, including machine learning (ML)and artificial intelligence (AI), and on data capture, visualization, integration, and analytics to improve the availability and reliability of physical assets.Asset performance management services help to reduce unplanned maintenance costs, unplanned downtime, and the total cost of ownership (TCO) for assets and environment, health, and safety (EH&S) threats. They even aid in optimizing asset performance, improving return on assets (ROA), and enhancing the visibility of operations. Consequently, asset performance management systems find extensive applications across numerous sectors, such as energy, mining, chemical, food and beverages (F&B), manufacturing, healthcare, information technology (IT), telecommunications, etc.

Request For Sample Report: https://www.imarcgroup.com/asset-performance-management-market/requestsample

What Are The Key Factors Driving The Global Asset Performance Management Market?

The growing digital transformation in several industry verticals is among the key factors driving the asset performance management market. In addition to this, the escalating utilization of the solution in the F&B segment to meet the challenges faced in executing various production processes, maintaining multiple systems and equipment, and managing the supply chain, availability, and prices, of incoming raw materials is acting as another significant growth-inducing factor.

Moreover, the shifting preferences toward asset performance management for enabling businesses to evaluate financial risks and undertake adequate asset investment and management strategies are also positively influencing the global market. Besides this, the increasing employment of industrial internet of things (IIoT) and cognitive technologies by leading asset-intensive businesses, particularly in the chemical, mining, power, utility, and oil and gas industries to enhance equipment reliability is expected to propel the asset performance management market over the forecasted period.

Who Are The Key Players/Companies In The Global Asset Performance Management Market?

ABB Ltd, Aspen Technology Inc., AVEVA Group plc, Bentley Systems Incorporated, Detechtion Technologies, DNV GL, GE Digital (General Electric Company), International Business Machines Corporation, Oracle Corporation, Rockwell Automation Inc., SAP SE, Sas Institute Inc., Schneider Electric SE and Siemens Energy AG

Key Market Segmentation:

Breakup by Component:

  • Solution
  • Service

Breakup by Deployment Mode:

  • On-premises
  • Cloud-based

Breakup by Organization Size:

  • Large Enterprises
  • Small and Medium-sized Enterprises

Breakup by Industry Vertical:

  • Energy and Utilities
  • Oil and Gas
  • Manufacturing
  • Mining and Metals
  • Healthcare and Life Sciences
  • Chemical and Pharmaceuticals
  • Government and Defense
  • IT and Telecom
  • Food and Beverages
  • Others

By Geography:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Ask An Analyst: https://www.imarcgroup.com/request?type=report&id=5863&flag=C

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Services Private Limited.

30 N Gould St Ste R

Sheridan, WY 82801 USA – Wyoming

Email: Sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

Americas:- +1 631 791 1145 |

Africa and Europe :- +44-702-409-7331 |

Asia: +91-120-433-0800, +91-120-433-0800


Leave a Reply

Your email address will not be published. Required fields are marked *