Summary

The asset performance management market is expected to grow from USD 1.91 billion in 2024 to USD 3.19 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 10.8% during the forecast period. Live access to APM platform asset data allows operators, technicians, and management interaction — regardless of location. Moreover, APM systems are enhanced because myriad modern data analytics tools are integrated to understand asset health, predict possible breakdowns, and plan maintenance activities. And even on your staff plans, you must work smarter with asset inspections, recognition of operational failures, and automated on-screen feedback.
The growing trend toward designing mobile-oriented and user-friendly user interfaces, which provide better accessibility to all the relevant users, is yet another underlying element in the APM industry. These systems help organizations keep track of asset statuses, maintenance requirements, and performance indicators, thus improving management decision-making. Thanks to artificial intelligence and machine learning development, maintaining, managing, and using assets is more accessible with APM platforms that provide prescriptive maintenance ideas and instructions for individual assets. Therefore, businesses implementing modern APM systems enjoy increased asset uptime, less downtime, and operational effectiveness, resulting in more environmentally friendly and economical operations.
"As per services, the professional services hold the largest market share during the forecast period. "
Professional services, including consulting, support, maintenance, implementation, and integration services, dominate the asset performance management (APM) market and will account for the largest share throughout the forecast period. Such services, typically offered after product range sales, are vital for firms that seek to maximize the asset's use and improve the operations' overall effectiveness. They deal with tailoring solutions, linking new technology with old systems, and providing systems to ensure data is handled correctly and all laws are followed. As different sectors find ways of incorporating more advanced technologies, such as AI, IoT, blockchain, and many others, there will also be an increasing need for professional services owing to the sophistication of the surroundings and the level of deployment. This emphasizes the segment's growth as it assists businesses in making data-driven decisions, being dynamic and responsive to changes in the APM market, and working towards sustainability, all of which will influence the APM market going forward.

"As per the asset type, the mobile assets segment will grow at the highest CAGR during the study period.
Among other sectors, mobile assets such as vehicles, construction machines, and portable tools are essential in logistics, construction, and transportation operations. The inherent characteristic of these sectors is the fast pace of operations, leading to abrasive usage, breakdowns, and inefficiencies. Hence, maintenance of these assets is vital since even a little downtime can cause operational disruption and increase costs. This segment is expected to grow in demand and be the most compounded mobile asset activity with the growth register for operational efficiencies and tracking. Organizations enhance their operational processes using focus regions and the latest information technologies to monitor performance, optimize repairs, and perform predictive maintenance. This change will allow businesses to reduce the number of reactive measures and enhance the efficiency of the lifecycle management of mobile equipment. That way, such mobile assets are kept in healthy operating conditions, and maintenance and downtime costs are minimized. Given the evolution of industries in the recent past, mobile asset management systems have been adopted, and this will certainly propel the growth of this segment in asset management as it provides helpful information for a very competitive market that is changing rapidly.
"As per deployment type, the on-premises segment holds the largest market share during the forecast period. "
On-premises deployment of asset performance management (APM) solutions holds the largest market share due to its strong emphasis on data security, control, and customization, making it the preferred choice for industries like oil and gas, utilities, and manufacturing. These sectors deal with sensitive and controlled information and must adhere to stringent privacy policies. Such on-premises solutions allow companies to curtail risks, optimize business activities, and enhance enterprise capabilities while enjoying management of the entire environment. This conventional strategy guarantees self-sustaining operations minimizes security threats and improves customer service by making the provision of services more efficient and dependable. On top of that, on-premises APM solutions come with excellent capabilities such as capturing, analyzing, and reporting data stored in user's servers, which is crucial for companies aiming at secured, eco-friendly, and expandable solutions. Cloud-based solutions have been on the rise over the years. However, large businesses still prefer on-premises deployments due to added safety and increased efficiency of operations, pushing the APM market to remain dominant on-premises throughout the forecast period.

The breakup of the profiles of the primary participants is below:
 By Company: Tier I: 34%, Tier II: 43%, and Tier III: 23%
 By Designation: C-Level Executives: 50%, Director Level: 30%, and Others: 20%
 By Region: North America: 30%, Europe: 30%, Asia Pacific: 25%, Rest of World: 15%
Note: Others include sales managers, marketing managers, and product managers
Note: The rest of the World consists of the Middle East & Africa, and Latin America
Note: Tier 1 companies have revenues of more than USD 100 million; tier 2 companies' revenue ranges from USD 10 million to USD 100 million; and tier 3 companies' revenue is less than 10 million
Source: Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis
Some of the significant vendors offering asset performance management solutions and services across the globe include ABB (Switzerland), GE Vernova (US), AVEVA (UK), IBM (US), SAP (Germany), Emerson (US), Rockwell Automation (US), DNV (US), Fluke (US), Bentley Systems (US), Siemens Energy (Germany), Oracle (US), Yokogawa (Japan), SAS (US), Arms Reliability (Australia), Synopsys (US), Honeywell (US), Prometheus Group (US), Hexagon (Sweden), Nexus Global (US), Detechtion Technologies (US), IPS Intelligent Process Solutions (Germany), Plasma (US), Tenna (US), Uptake (US), UpKeep (US), Shoreline AI (US), MentorAPM (US), Fracttal (Spain), MicroAI (US), VROC (Australia), Operational Sustainability (US), Qualer (US), and MaintainX (US).
Research coverage:
The study provides an in-depth analysis of the asset performance management market from 2019 based on contemporary market trends and developments and its potential growth from 2024 to 2029. It provides detailed market trends, a competitive landscape, market size, forecasts, and analysis of the vital asset performance management players. This market study analyzes asset performance management growth rate and penetration across all the major regions.
Reasons to buy this report:
The report will help market leaders and new entrants with information on the closest approximations of the revenue numbers for the overall asset performance management market and its subsegments. It will also help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of critical drivers (Need for asset performance management solutions for predictive maintenance, IoT and AI evolving asset performance management solutions, adoption of cloud-based APM solutions, need for APM solutions to manage asset complexity, adoption of industrial automation to enhance efficiency ), restraints (high cost of implementation of APM solution and need for asset management under stringent data security and privacy regulations), opportunities (mobile APM solution maximizing asset management efficiency, advanced analytics to revolutionize asset performance management, digital twins enhancing APM solution, collaborative ecosystem boosting the adoption of APM solutions), and challenges (complexity in operating APM solutions, Shortage of skilled professionals, limited awareness and adoption of APM solutions) influencing the growth of the APM market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the asset performance management market.

• Market Development: Comprehensive information about lucrative markets – the report analyses the asset performance management market across varied regions.

• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the asset performance management market.

• Competitive Assessment: In-depth assessment of market shares, growth strategies, and ABB (Switzerland), GE Vernova (US), AVEVA (UK), IBM (US), SAP (Germany), Emerson (US), Rockwell Automation (US), DNV (US), Fluke (US) and Bentley Systems (US), among others in the asset performance management market.

ページTOPに戻る

Table of Contents

1 INTRODUCTION 32
1.1 STUDY OBJECTIVES 32
1.2 MARKET DEFINITION 32
1.2.1 INCLUSIONS AND EXCLUSIONS 33
1.3 STUDY SCOPE 34
1.3.1 MARKET COVERED AND REGIONAL SCOPE 35
1.3.2 YEARS CONSIDERED 36
1.4 CURRENCY CONSIDERED 36
1.5 STAKEHOLDERS 37
1.6 SUMMARY OF CHANGES 37
2 RESEARCH METHODOLOGY 38
2.1 RESEARCH APPROACH 38
2.1.1 SECONDARY DATA 40
2.1.2 PRIMARY DATA 40
2.1.2.1 Breakup of primary profiles 41
2.1.2.2 Key insights from industry experts 41
2.2 DATA TRIANGULATION 42
2.3 MARKET SIZE ESTIMATION 43
2.4 MARKET FORECAST 47
2.5 RESEARCH ASSUMPTIONS 48
2.6 RESEARCH LIMITATIONS 49
3 EXECUTIVE SUMMARY 50
4 PREMIUM INSIGHTS 54
4.1 ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN ASSET PERFORMANCE MANAGEMENT (APM) MARKET 54
4.2 ASSET PERFORMANCE MANAGEMENT (APM) MARKET, BY OFFERING, 2024 VS. 2029 54
4.3 ASSET PERFORMANCE MANAGEMENT (APM) MARKET, BY ASSET TYPE, 2024 VS. 2029 55
4.4 ASSET PERFORMANCE MANAGEMENT (APM) MARKET, BY DEPLOYMENT TYPE,
2024 VS. 2029 55
4.5 ASSET PERFORMANCE MANAGEMENT (APM) MARKET, BY ORGANIZATION SIZE,
2024 VS. 2029 56
4.6 ASSET PERFORMANCE MANAGEMENT (APM) MARKET, BY VERTICAL, 2024 VS. 2029 56
4.7 ASSET PERFORMANCE MANAGEMENT (APM) MARKET: REGIONAL SCENARIO,
2024–2029 57
 
5 MARKET OVERVIEW AND INDUSTRY TRENDS 58
5.1 INTRODUCTION 58
5.2 MARKET DYNAMICS 58
5.2.1 DRIVERS 59
5.2.1.1 Surging demand for predictive maintenance 59
5.2.1.2 Integration of IoT and AI in evolving APM solutions 59
5.2.1.3 Rising adoption of cloud-based APM solutions 59
5.2.1.4 Increasing need for APM solutions to manage asset complexity 60
5.2.1.5 Adoption of industrial automation to enhance efficiency 60
5.2.2 RESTRAINTS 61
5.2.2.1 High implementation costs of APM solutions 61
5.2.2.2 Stringent data security and privacy regulations 61
5.2.3 OPPORTUNITIES 61
5.2.3.1 Rising adoption of mobile APM solutions 61
5.2.3.2 Increasing benefits of advanced analytics 62
5.2.3.3 Integration of digital twins into APM systems 62
5.2.3.4 Surging need for collaborative ecosystems to enhance APM solutions 63
5.2.4 CHALLENGES 63
5.2.4.1 Complexity of operating APM solutions 63
5.2.4.2 Shortage of skilled professionals and limited awareness of APM solutions 63
5.3 CASE STUDY ANALYSIS 64
5.3.1 AVEVA PREDICTIVE ANALYTICS HELPED TATA POWER ENHANCE EQUIPMENT RELIABILITY AND PERFORMANCE 64
5.3.2 OMAN GAS COMPANY OPTIMIZED ASSET PERFORMANCE BY IMPLEMENTING BENTLEY’S ASSETWISE ASSET RELIABILITY 64
5.3.3 IBM’S MAXIMO APPLICATION SUITE REVOLUTIONIZED DOWNER’S RAIL ASSET MANAGEMENT 65
5.3.4 GE DIGITAL'S ASSET PERFORMANCE MANAGEMENT (APM) HEALTH AND RELIABILITY SOFTWARE HELPED ABOITIZ POWER CORPORATION RESOLVE CHALLENGES IN ENERGY TRANSITION 65
5.3.5 EMERSON’S PLANTWEB HELPED SECCO LAUNCH MAJOR PETROCHEMICAL COMPLEX AHEAD OF SCHEDULE 66
5.3.6 ROCKWELL AUTOMATION HELPED ATLL IMPROVE OPERATIONAL EFFICIENCY AND WATER TREATMENT RELIABILITY SIGNIFICANTLY 67
5.4 SUPPLY CHAIN ANALYSIS 68
5.5 ECOSYSTEM 69
5.6 TECHNOLOGY ANALYSIS 71
5.6.1 KEY TECHNOLOGIES 71
5.6.1.1 Internet of Things (IoT) 71
5.6.1.2 Predictive analytics 71
 
5.6.2 COMPLEMENTARY TECHNOLOGIES 72
5.6.2.1 Cloud computing 72
5.6.2.2 Big data analytics 72
5.6.2.3 Blockchain 72
5.6.3 ADJACENT TECHNOLOGIES 73
5.6.3.1 AI/ML 73
5.6.3.2 AR/VR 73
5.7 PRICING ANALYSIS 73
5.7.1 AVERAGE SELLING PRICE (ASP) TREND OF KEY PLAYERS, BY OFFERING 73
5.8 PATENT ANALYSIS 74
5.9 PORTER’S FIVE FORCES ANALYSIS 77
5.9.1 THREAT OF NEW ENTRANTS 78
5.9.2 THREAT OF SUBSTITUTES 78
5.9.3 BARGAINING POWER OF BUYERS 78
5.9.4 BARGAINING POWER OF SUPPLIERS 79
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 79
5.10 REGULATORY LANDSCAPE 79
5.10.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 79
5.10.2 REGULATIONS, BY REGION 82
5.11 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 84
5.12 KEY STAKEHOLDERS AND BUYING CRITERIA 85
5.12.1 KEY STAKEHOLDERS IN BUYING PROCESS 85
5.12.2 BUYING CRITERIA 86
5.13 BUSINESS MODEL ANALYSIS 87
5.13.1 SUBSCRIPTION-BASED MODEL 87
5.13.2 PERPETUAL LICENSE-BASED MODEL 87
5.13.3 PAY-PER-USE MODEL 87
5.13.4 OUTCOME-BASED PRICING MODEL 87
5.13.5 FREEMIUM MODEL 87
5.13.6 CONSULTING AND SERVICE-BASED MODEL 88
5.14 KEY CONFERENCES AND EVENTS, 2024–2025 88
5.15 INVESTMENT AND FUNDING SCENARIO 89
5.16 IMPACT OF AI/GEN AI ON ASSET PERFORMANCE MANAGEMENT MARKET 90
5.16.1 INDUSTRY TRENDS: USE CASES 90
5.16.1.1 SCG Chemicals achieved near-perfect performance with AVEVA's AI-integrated APM solutions 90
5.16.1.2 Shutterstock boosted efficiency and security with New Relic’s AI-driven observability tools 91
5.16.1.3 Shoreline AI’s industrial APM solution helped manufacturing company reduce operational risks and costs 92
 
5.16.2 TOP CLIENTS ADAPTING AI/GEN AI 92
5.16.2.1 IBM 92
5.16.2.2 SAS 92
5.16.2.3 Shoreline AI 93
5.16.3 ADOPTION TREND OF TRADITIONAL VS. AI/GEN-AI-BASED ASSET PERFORMANCE MANAGEMENT SOLUTIONS 93
6 ASSET PERFORMANCE MANAGEMENT MARKET, BY OFFERING 95
6.1 INTRODUCTION 96
6.1.1 OFFERINGS: ASSET PERFORMANCE MANAGEMENT MARKET DRIVERS 96
6.2 SOLUTIONS 98
6.2.1 NEED FOR MANAGING ASSETS TO IMPROVE PRODUCTION WORKFLOW TO DRIVE MARKET 98
6.2.2 ASSET STRATEGY MANAGEMENT 99
6.2.2.1 Growing focus on gaining high return on assets to increase demand for asset strategy management solutions 99
6.2.2.2 Risk-Based Maintenance (RBM) 101
6.2.2.3 Reliability-Centered Maintenance (RCM) 101
6.2.2.4 Failure Modes and Effects Analysis (FMEA) 101
6.2.2.5 Preventive Maintenance Optimization (PMO) 102
6.2.3 ASSET RELIABILITY MANAGEMENT 102
6.2.3.1 Need to increase production, provide worker safety, and achieve on-time customer deliveries to boost market growth 102
6.2.3.2 Root Cause Analysis (RCA) 103
6.2.3.3 Asset Health Indexing 104
6.2.3.4 Reliability, Availability, and Maintainability (RAM) Analysis 104
6.2.3.5 Maintenance Task Optimization 104
6.2.4 PREDICTIVE ASSET MANAGEMENT 105
6.2.4.1 Need to maintain critical assets efficiently to fuel demand for predictive asset management solutions 105
6.2.4.2 Predictive maintenance 106
6.2.4.3 Machine Learning (ML) and AI-based predictions 107
6.2.4.4 Data-driven maintenance planning 107
6.2.4.5 Failure prediction and risk assessment 107
6.2.5 ASSET LIFECYCLE MANAGEMENT 108
6.2.5.1 Need to maximize asset value and improve operational efficiency to accelerate market growth 108
6.2.5.2 Asset planning and acquisition 109
6.2.5.3 Asset commissioning and deployment 109
6.2.5.4 Asset maintenance and operation 110
6.2.5.5 Asset decommissioning and disposal 110
 
6.2.6 WORK ORDER MANAGEMENT 110
6.2.6.1 Need for efficient task coordination, enhanced tracking, and reporting to foster market growth 110
6.2.6.2 Work order creation and scheduling 112
6.2.6.3 Resource allocation and planning 112
6.2.6.4 Work order execution and tracking 112
6.2.6.5 Reporting and documentation 113
6.2.7 OTHER SOLUTIONS 113
6.3 SERVICES 115
6.3.1 PROFESSIONAL SERVICES 116
6.3.1.1 Complexity of operations and increasing deployment of advanced technological solutions to boost demand for APM solutions 116
6.3.1.2 Implementation & integration 118
6.3.1.3 Consulting 119
6.3.1.4 Support & maintenance 120
6.3.2 MANAGED SERVICES 121
6.3.2.1 Need for real-time performance monitoring, predictive analytics, maintenance scheduling, and incident response to bolster market growth 121
7 ASSET PERFORMANCE MANAGEMENT MARKET, BY ASSET TYPE 122
7.1 INTRODUCTION 123
7.1.1 ASSET TYPES: ASSET PERFORMANCE MANAGEMENT MARKET DRIVERS 123
7.2 FIXED ASSETS 124
7.2.1 NEED TO ENSURE OPTIMAL PERFORMANCE, REDUCE DOWNTIME, AND EXTEND ASSET LIFE THROUGH PROACTIVE MAINTENANCE AND MONITORING TO PROPEL MARKET 124
7.3 MOBILE ASSETS 125
7.3.1 NEED TO ENSURE OPTIMAL PERFORMANCE, PREVENT BREAKDOWNS, AND MINIMIZE OPERATIONAL DISRUPTIONS TO FUEL MARKET GROWTH 125
7.4 PRODUCTION ASSETS 126
7.4.1 NEED TO ENHANCE OPERATIONAL EFFICIENCY AND MINIMIZE DOWNTIME TO BOOST DEMAND FOR PRODUCTION ASSETS 126
7.5 INFRASTRUCTURE ASSETS 127
7.5.1 NEED TO MANAGE INFRASTRUCTURE ASSETS EFFECTIVELY AND ENSURE SAFETY, RELIABILITY, AND OPTIMAL PERFORMANCE TO BOOST MARKET GROWTH 127
7.6 OTHER ASSET TYPES 128
8 ASSET PERFORMANCE MANAGEMENT MARKET, BY DEPLOYMENT TYPE 130
8.1 INTRODUCTION 131
8.1.1 DEPLOYMENT TYPES: ASSET PERFORMANCE MANAGEMENT MARKET DRIVERS 131
8.2 ON-PREMISES 133
8.2.1 COMPANIES WITH LARGE BUDGETS AND TEAMS TO DRIVE ADOPTION OF ON-PREMISES DEPLOYMENT TYPE 133
8.3 CLOUD 134
8.3.1 COST-EFFECTIVENESS AND SCALABILITY TO BOOST DEMAND FOR CLOUD ASSET PERFORMANCE MANAGEMENT SOLUTIONS 134
9 ASSET PERFORMANCE MANAGEMENT MARKET, BY ORGANIZATION SIZE 135
9.1 INTRODUCTION 136
9.1.1 ORGANIZATION SIZES: ASSET PERFORMANCE MANAGEMENT MARKET DRIVERS 136
9.2 LARGE ENTERPRISES 138
9.2.1 NEED TO ENSURE OPERATIONAL EFFICIENCY, MINIMIZE DOWNTIME, AND OPTIMIZE RESOURCE UTILIZATION TO BOLSTER MARKET GROWTH 138
9.3 SMALL ENTERPRISES 139
9.3.1 ASSET PERFORMANCE MANAGEMENT SOLUTIONS TO OFFER PREDICTIVE MAINTENANCE, REAL-TIME MONITORING, AND RESOURCE OPTIMIZATION FEATURES 139
9.4 MEDIUM ENTERPRISES 140
9.4.1 NEED TO MAKE INFORMED DECISIONS, IMPROVE ASSET UTILIZATION, AND ENSURE COMPLIANCE WITH INDUSTRY STANDARDS TO PROPEL MARKET 140
10 ASSET PERFORMANCE MANAGEMENT MARKET, BY VERTICAL 141
10.1 INTRODUCTION 142
10.1.1 VERTICALS: ASSET PERFORMANCE MANAGEMENT MARKET DRIVERS 142
10.2 ENERGY & UTILITIES 144
10.2.1 ASSET PERFORMANCE MANAGEMENT SOLUTIONS TO HELP ENERGY & UTILITY ORGANIZATIONS MAXIMIZE LIFE OF EXISTING AND NEW ASSETS 144
10.2.2 ENERGY & UTILITIES: TYPES 145
10.2.2.1 Power generation 145
10.2.2.2 Water & wastewater utilities 146
10.2.2.3 Other energy & utility types 146
10.3 OIL & GAS 147
10.3.1 NEED TO ENHANCE OPERATIONAL SAFETY AND REDUCE COSTS TO FUEL DEMAND FOR ASSET PERFORMANCE MANAGEMENT SOLUTIONS 147
10.3.2 OIL & GAS: TYPES 148
10.3.2.1 Upstream (Exploration & production) 148
10.3.2.2 Midstream (Transportation & storage) 148
10.3.2.3 Downstream (Refining & distribution) 149
10.3.2.4 Other oil & gas types (Integrated & oilfield services) 149
10.4 MANUFACTURING 150
10.4.1 INCREASING CUSTOMER DEMAND AND CHANGING MARKET CONDITIONS TO ACCELERATE MARKET GROWTH 150
10.4.2 MANUFACTURING: TYPES 151
10.4.2.1 Discrete manufacturing 151
10.4.2.2 Process manufacturing 151
10.4.2.3 Heavy manufacturing 151
10.4.2.4 Other manufacturing types 152
10.5 GOVERNMENT & DEFENSE 152
10.5.1 NEED TO ENSURE OPERATIONAL READINESS, COMPLIANCE WITH REGULATIONS, AND EFFICIENT USE OF PUBLIC FUNDS TO DRIVE MARKET 152
10.5.2 GOVERNMENT & DEFENSE: TYPES 153
10.5.2.1 Defense infrastructure 153
10.5.2.2 Defense equipment 154
10.5.2.3 Public sector infrastructure 154
10.5.2.4 Other government & defense types 154
10.6 CHEMICALS & PETROCHEMICALS 155
10.6.1 NEED TO OPTIMIZE MAINTENANCE SCHEDULES AND IMPROVE PROCESS EFFICIENCY TO PROPEL MARKET 155
10.6.2 CHEMICALS & PETROCHEMICALS: TYPES 156
10.6.2.1 Petrochemicals & refining 156
10.6.2.2 Pharmaceuticals 156
10.6.2.3 Consumer chemicals 157
10.6.2.4 Other chemical & petrochemical types 157
10.7 TELECOMMUNICATIONS 158
10.7.1 NEED TO ENSURE TELECOM NETWORK RELIABILITY WITH PREDICTIVE MAINTENANCE TO FOSTER MARKET GROWTH 158
10.7.2 TELECOMMUNICATIONS: TYPES 159
10.7.2.1 Network infrastructure 159
10.7.2.2 Data centers 159
10.7.2.3 Transmission networks 159
10.7.2.4 Other telecommunication types 160
10.8 HEALTHCARE & LIFE SCIENCES 160
10.8.1 NEED TO ENSURE RELIABILITY, EFFICIENCY, AND REGULATORY COMPLIANCE OF CRITICAL MEDICAL EQUIPMENT AND IT SYSTEMS TO DRIVE MARKET 160
10.8.2 HEALTHCARE& LIFE SCIENCES: TYPES 161
10.8.2.1 Medical equipment 161
10.8.2.2 Biotechnology 162
10.8.2.3 Quality control laboratories 162
10.8.2.4 Other healthcare & life science types 163
10.9 CONSUMER GOODS, FOOD, AND BEVERAGES 163
10.9.1 NEED FOR OPTIMIZATION OF SUPPLY CHAIN TO ACCELERATE ADOPTION OF ASSET PERFORMANCE MANAGEMENT SOLUTIONS 163
10.9.2 CONSUMER GOODS & FOODS AND BEVERAGES: TYPES 164
10.9.2.1 Food & beverage manufacturing 164
10.9.2.2 Supply chain & logistics 164
10.9.2.3 Retail operations 165
10.9.2.4 Other consumer goods, food, and beverage types 165
10.10 OTHER VERTICALS 165
 
11 ASSET PERFORMANCE MANAGEMENT MARKET, BY REGION 167
11.1 INTRODUCTION 168
11.2 NORTH AMERICA 169
11.2.1 NORTH AMERICA: ASSET PERFORMANCE MANAGEMENT MARKET DRIVERS 169
11.2.2 NORTH AMERICA: MACROECONOMIC OUTLOOK 170
11.2.3 US 177
11.2.3.1 Presence of major vendors and high adoption rates driven by government agency to foster market growth 177
11.2.4 CANADA 179
11.2.4.1 Investments from tech companies to boost cloud environment to fuel market growth 179
11.3 EUROPE 180
11.3.1 EUROPE: ASSET PERFORMANCE MANAGEMENT MARKET DRIVERS 181
11.3.2 EUROPE: MACROECONOMIC OUTLOOK 181
11.3.3 UK 187
11.3.3.1 Increasing demand for APM solutions to enhance organizational performance to fuel market 187
11.3.4 GERMANY 189
11.3.4.1 Need to streamline maintenance operations, optimize asset performance, ensure regulatory adherence, and enhance operational efficiency to drive market 189
11.3.5 FRANCE 190
11.3.5.1 Need for enhanced operational efficiency, regulatory compliance, sustainability across key sectors, and availability of highly skilled professionals to propel market 190
11.3.6 ITALY 192
11.3.6.1 Need for enhanced asset reliability, operational efficiency, and regulatory compliance to accelarate market growth 192
11.3.7 REST OF EUROPE 193
11.4 ASIA PACIFIC 194
11.4.1 ASIA PACIFIC: ASSET PERFORMANCE MANAGEMENT MARKET DRIVERS 195
11.4.2 ASIA PACIFIC: MACROECONOMIC OUTLOOK 195
11.4.3 CHINA 202
11.4.3.1 Strong manufacturing base, exportation of manufactured goods globally, and government's initiatives for R&D and investments to boost market growth 202
11.4.4 INDIA 204
11.4.4.1 Government initiatives booting digital transformation and push for sustainability and compliance to bolster market growth 204
11.4.5 JAPAN 205
11.4.5.1 Shift toward focus on lowering TCO to fuel market growth 205
11.4.6 REST OF ASIA PACIFIC 207
 
11.5 MIDDLE EAST & AFRICA 208
11.5.1 MIDDLE EAST & AFRICA: ASSET PERFORMANCE MANAGEMENT MARKET DRIVERS 209
11.5.2 MIDDLE EAST & AFRICA: MACROECONOMIC OUTLOOK 209
11.5.3 GULF COOPERATION COUNCIL (GCC) COUNTRIES 216
11.5.3.1 UAE 218
11.5.3.1.1 Strong focus on industrial modernization and digital transformation to boost demand for APM solutions 218
11.5.3.2 Saudi Arabia 218
11.5.3.2.1 Stringent regulatory framework and compliance standards, industrial focus, and Saudi Vision 2030 to boost market growth 218
11.5.3.3 Rest of GCC countries 219
11.5.4 SOUTH AFRICA 219
11.5.4.1 Need to improve asset reliability, enhance operational efficiency, and minimize downtime to propel market 219
11.5.5 REST OF MIDDLE EAST & AFRICA 220
11.6 LATIN AMERICA 222
11.6.1 LATIN AMERICA: ASSET PERFORMANCE MANAGEMENT MARKET DRIVERS 222
11.6.2 LATIN AMERICA: MACROECONOMIC OUTLOOK 222
11.6.3 BRAZIL 229
11.6.3.1 Thriving presence of oil & gas industry and National Innovation Policy to foster market growth 229
11.6.4 MEXICO 230
11.6.4.1 Need to optimize performance of critical infrastructure and implementation of National Digital Strategy to bolster market growth 230
11.7 REST OF LATIN AMERICA 232
12 COMPETITIVE LANDSCAPE 234
12.1 OVERVIEW 234
12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2021–2023 234
12.3 REVENUE ANALYSIS, 2021–2023 236
12.4 MARKET SHARE ANALYSIS, 2023 237
12.5 BRAND/PRODUCT COMPARISON 239
12.5.1 AVEVA: AVEVA APM 4.0 239
12.5.2 ABB: ABB ABILITY GENIX APM 239
12.5.3 GE VERNOVA: ASSET PERFORMANCE MANAGEMENT (APM) 239
12.5.4 SAP: SAP ASSET PERFORMANCE MANAGEMENT 239
12.5.5 IBM: IBM MAXIMO 239
12.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 240
12.6.1 STARS 241
12.6.2 EMERGING LEADERS 241
12.6.3 PERVASIVE PLAYERS 241
12.6.4 PARTICIPANTS 241
12.6.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 243
12.6.5.1 Company footprint 243
12.6.5.2 Regional footprint 244
12.6.5.3 Offering footprint 244
12.6.5.4 Deployment type footprint 245
12.6.5.5 Vertical footprint 245
12.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 246
12.7.1 PROGRESSIVE COMPANIES 246
12.7.2 RESPONSIVE COMPANIES 246
12.7.3 DYNAMIC COMPANIES 246
12.7.4 STARTING BLOCKS 246
12.7.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 248
12.7.5.1 Detailed list of key startups/SMEs 248
12.7.6 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 249
12.8 COMPANY VALUATION AND FINANCIAL METRICS, 2024 249
12.9 COMPETITIVE SCENARIO 251
12.9.1 PRODUCT LAUNCHES AND ENHANCEMENTS 251
12.9.2 DEALS 254
13 COMPANY PROFILES 259
13.1 INTRODUCTION 259
13.2 MAJOR PLAYERS 259
13.2.1 AVEVA 259
13.2.1.1 Business overview 259
13.2.1.2 Products/Solutions/Services offered 261
13.2.1.3 Recent developments 263
13.2.1.3.1 Product launches and enhancements 263
13.2.1.3.2 Deals 263
13.2.1.4 MnM view 264
13.2.1.4.1 Right to win 264
13.2.1.4.2 Strategic choices 264
13.2.1.4.3 Weaknesses and competitive threats 264
13.2.2 ABB 265
13.2.2.1 Business overview 265
13.2.2.2 Products/Solutions/Services offered 267
13.2.2.3 Recent developments 267
13.2.2.3.1 Product launches and enhancements 267
13.2.2.3.2 Deals 268
13.2.2.4 MnM view 269
13.2.2.4.1 Right to win 269
13.2.2.4.2 Strategic choices 269
13.2.2.4.3 Weaknesses and competitive threats 269
13.2.3 GE VERNOVA 270
13.2.3.1 Business overview 270
13.2.3.2 Products/Solutions/Services offered 272
13.2.3.3 Recent developments 273
13.2.3.3.1 Product launches and enhancements 273
13.2.3.3.2 Deals 274
13.2.3.4 MnM view 274
13.2.3.4.1 Right to win 274
13.2.3.4.2 Strategic choices 274
13.2.3.4.3 Weaknesses and competitive threats 274
13.2.4 SAP 275
13.2.4.1 Business overview 275
13.2.4.2 Products/Solutions/Services offered 277
13.2.4.3 Recent developments 277
13.2.4.3.1 Product launches and enhancements 277
13.2.4.3.2 Deals 278
13.2.4.4 MnM view 278
13.2.4.4.1 Right to win 278
13.2.4.4.2 Strategic choices 279
13.2.4.4.3 Weaknesses and competitive threats 279
13.2.5 IBM 280
13.2.5.1 Business overview 280
13.2.5.2 Products/Solutions/Services offered 282
13.2.5.3 Recent developments 282
13.2.5.3.1 Product launches and enhancements 282
13.2.5.3.2 Deals 283
13.2.5.4 MnM view 284
13.2.5.4.1 Right to win 284
13.2.5.4.2 Strategic choices 284
13.2.5.4.3 Weaknesses and competitive threats 284
13.2.6 ROCKWELL AUTOMATION 285
13.2.6.1 Business overview 285
13.2.6.2 Products/Solutions/Services offered 287
13.2.6.3 Recent developments 288
13.2.6.3.1 Product launches and enhancements 288
13.2.6.3.2 Deals 288
13.2.7 EMERSON 289
13.2.7.1 Business overview 289
13.2.7.2 Products/Solutions/Services offered 290
13.2.7.3 Recent developments 291
13.2.7.3.1 Product launches and enhancements 291
13.2.7.3.2 Deals 292
13.2.8 DNV 293
13.2.8.1 Business overview 293
13.2.8.2 Products/Solutions/Services offered 295
13.2.9 FLUKE 296
13.2.9.1 Business overview 296
13.2.9.2 Products/Solutions/Services offered 296
13.2.9.3 Recent developments 297
13.2.9.3.1 Product launches and enhancements 297
13.2.9.3.2 Deals 298
13.2.10 BENTLEY SYSTEMS 299
13.2.10.1 Business overview 299
13.2.10.2 Products/Solutions/Services offered 300
13.2.10.3 Recent developments 303
13.2.10.3.1 Product launches and enhancements 303
13.2.10.3.2 Deals 303
13.3 OTHER PLAYERS 304
13.3.1 SIEMENS ENERGY 304
13.3.2 ORACLE 305
13.3.3 YOKOGAWA 306
13.3.4 SAS 307
13.3.5 ARMS RELIABILITY 308
13.3.6 SYNOPSYS 309
13.3.7 HONEYWELL 310
13.3.8 PROMETHEUS GROUP 311
13.3.9 HEXAGON 312
13.3.10 NEXUS GLOBAL 313
13.3.11 DETECHTION TECHNOLOGIES 314
13.3.12 IPS INTELLIGENT PROCESS SOLUTIONS 315
13.3.13 PLASMA 316
13.4 STARTUPS/SMES 317
13.4.1 TENNA 317
13.4.2 UPTAKE 318
13.4.3 UPKEEP 319
13.4.4 SHORELINE AI 320
13.4.5 MENTOR APM 321
13.4.6 FRACTTAL 322
13.4.7 MICROAI 323
13.4.8 VROC 324
13.4.9 OPERATIONAL SUSTAINABILITY 325
13.4.10 QUALER 326
13.4.11 MAINTAINX 327
14 ADJACENT/RELATED MARKETS 328
14.1 INTRODUCTION 328
14.2 LIMITATIONS 328
14.3 ASSET PERFORMANCE MANAGEMENT ECOSYSTEM AND ADJACENT MARKETS 328
14.4 ENTERPRISE ASSET MANAGEMENT MARKET 328
14.5 DIGITAL ASSET MANAGEMENT MARKET 333
15 APPENDIX 337
15.1 DISCUSSION GUIDE 337
15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 343
15.3 CUSTOMIZATION OPTIONS 345
15.4 RELATED REPORTS 345
15.5 AUTHOR DETAILS 346