Plant Asset Management (PAM) Market 2024-2028
The plant asset management (PAM) market is forecasted to grow by USD 2405 mn during 2023-2028, accelerating at a CAGR of 7.8% during the forecast period. The report on the plant asset management (PAM) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by incorporation of 3d modeling in real-time asset management, increase in adoption of smart sensors, and adoption of new technologies by oil companies.
Technavio's plant asset management (PAM) market is segmented as below:
- By Deployment
- Cloud
- On-premises
- By End-user
- Power industry
- Pulp and paper industry
- Oil and gas industry
- Refining industry
- Others
- By Geographical Landscape
- North America
- Europe
- APAC
- Middle East and Africa
- South America
This study identifies the use of prescriptive analytics for analysis as one of the prime reasons driving the plant asset management (PAM) market growth during the next few years. Also, convergence of it and ot and use of digital twins by companies will lead to sizable demand in the market.
The report on the plant asset management (PAM) market covers the following areas:
- Plant Asset Management (PAM) Market sizing
- Plant Asset Management (PAM) Market forecast
- Plant Asset Management (PAM) Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading plant asset management (PAM) market vendors that include AB SKF, ABB Ltd., Aspen Technology Inc., AVEVA Group Plc, Emerson Electric Co., Endress Hauser Group Services AG, Hitachi Ltd., Honeywell International Inc., IFS World Operations AB, International Business Machines Corp., Novo Solutions Inc., Oracle Corp., Petrofac Ltd., Ramco Systems Ltd., Rockwell Automation Inc., S and T Deutschland GmbH, SAP SE, Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp.. Also, the plant asset management (PAM) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.