PAM Growth Set to Continue As Cloudy Horizon Looms
Plant Asset Management (PAM) systems achieved record breaking double-digit growth in 2008 exceeding our aggressive 10.8 percent 2006 forecast. PAM growth was achieved in part by new asset applications and the economic expansion that have since slowed.
Looking forward, the picture is quite cloudy. The unraveling of the economy and the subsequent demand destruction will undoubtedly have an adverse affect on the PAM market. However, PAM systems have the potential to defy the recession and grow, albeit at a slower rate. The question is how slow and what suppliers can do to minimize the impact. This study addresses these issues.
PAM systems provide timely information to help maintenance and operations improve asset availability and reduce time to maintain and optimize efficiency of assets. Information is provided automatically without human intervention so the workforce can take action before they affect the process or lead to a catastrophic failure.
A key driver behind the resiliency of PAM systems is its ability to help the declining workforce to do more with less and the availability of lower-cost strategies that fit the dynamics of today�s market. By providing information at the right time and in the right context, workers work smarter.
However, end users are not fully aware of the PAM system technologies, features, solutions, and services available.
The PAM systems study includes information to help end users to research, plan, and optimize the deployment of PAM systems. Specific strategies for end users are identified. Suppliers with knowledge in industries, technologies and assets are identified for end users to match needs with supplier expertise.
It also identifies end user needs and concerns that suppliers must address to succeed during a recession. Combined with market shares, forecast, and supplier strategies, this complete study will help suppliers navigate around new obstacles.
Strategic Issues
PAM systems can be appropriate for good and bad times. However, supplier and end user strategies must change with the landscape. The PAM study addresses these and other issues including:
- What strategies should suppliers deploy during an economic slowdown?
- How can suppliers help end users during a recession?
- What strategies should end users deploy?
- Which asset category will grow faster?
- What are the emerging asset solutions?
- What kinds of services are required for a successful PAM implementation?
- What role will wireless play in the PAM space?
- How should remote PAM be deployed?
- Which PAM system attributes and features are most important?
