Global Asset Performance Management (APM) Market Research Report Forecast to 2027

Global Asset Performance Management (APM) Market Research Report Forecast to 2027

Asset Performance Management Market Forecast till 2027 Market Overview APM is a collection of software programs and apps aimed at improving the dependability and ease of access of essential physical assets in the business process. Implementing APM software boosts the availability and dependability of physical assets, and cuts down operating expenses while reducing business risks. Asset Performance Management (APM) is a set of software solutions that improve the dependability and availability of physical assets crucial to a business' operations. APM integrates data capture, integration, visualization, and analytics to monitor and optimize the performance of industrial assets. By using sensors to gather information, APM provides a comprehensive view of a facility's operational assets and reduces administrative costs while enhancing service. APM usually includes advanced features like reliability-centered maintenance, predictive maintenance, condition monitoring, asset integrity management, and more. It employs cutting-edge technologies such as visualization, prediction, asset health data collection, and analytics. Segment Overview The asset performance management market is categorized by offering, deployment, and vertical and region. By offering, the market is divided into software type and service type. The software type consists of pattern recognition software, predictive maintenance, data management software, enterprise asset management software, predictive asset analytics tools, asset health management, asset integrity & reliability management, and condition monitoring. The service type is divided into managed service and professional service, with the professional service further sub-divided into installation and deployment service, consulting service, and maintenance & support services. The asset performance management market based on deployment can be either cloud or on-premise. By vertical, the market is split into Food and Beverage, Energy and Utility, Manufacturing, Logistics, Transportation and Supply Chain, Chemicals, and Others. Regional Analysis The Asset Performance Management market has been analyzed worldwide in regions such as Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America held the largest market share, driven by factors such as the increasing use of AI and the widespread adoption of the industrial internet of things (IIoT) and other smart connected devices. The region also saw growth due to the growing demand for digital transformation among end users and the integration of technologies such as cloud computing and artificial intelligence. Asia Pacific is experiencing rapid growth as the market leader, due to factors such as the advent of advanced manufacturing machinery, the increasing need for mass production, and the push towards digitization by SMEs. The government and public sector, along with defense sector companies in Asia-Pacific, are investing heavily in asset performance management solutions and services, driving market growth in the region. Major Players Key players operating in the global Asset Performance Management Market include IBM Corporation (US), SAS Institute Inc. (US), Rockwell Automation (US), Aveva Group PLC (UK), SAP SE (Germany), Schneider Electric SE (France), Bentley Systems, Incorporated (US), Bentley Systems, Incorporated (Canada), UpKeep Technologies, Inc. (US), Aspen Technology (US), Operational Sustainability, LLC (US), Hexagon AB (Sweden), Oracle Corporation (US), Brightly Software, Inc. (US), AssetX (US). COVID 19 Impacts The COVID-19 pandemic has caused harm to numerous industries globally, caused by the disruptions in their manufacturing and supply chain operations due to lockdowns and other restrictions imposed by governments. Post-pandemic, the adoption of APM software in life sciences and healthcare industries is expected to grow for easier access to medical equipment information. The use of cloud computing and data analytics services has seen an increase in recent years. According to Statista, a provider of statistical data, SaaS solutions generated $110 billion in H1 2018, showcasing the widespread adoption of digital solutions by organizations. APM systems would greatly benefit from these services, enabling scalability and versatility across various industries. .

Companies Mentioned
IBM Corporation (US)
SAS Institute Inc. (US)
Rockwell Automation (US)
Aveva Group PLC (UK)
SAP SE (Germany)
Schneider Electric SE (France)
Bentley Systems
Incorporated (US)
Bentley Systems
Incorporated (Canada)
UpKeep Technologies
Inc. (US)
Aspen Technology (US)
Operational Sustainability
LLC (US)
Hexagon AB (Sweden)
Oracle Corporation (US)
Brightly Software
Inc. (US)
AssetX (US)

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