Asset Performance Management

Publish Date

This Asset Performance Management market research study delivers current market analysis plus a five year market and technology forecast. The study is available in multiple editions including worldwide, all regions, and most major countries.

Asset Performance Management: The Low Hanging Fruit of Industrial IoT

The objective of asset performance management (APM) is to improve the reliability and availability of physical assets while minimizing risk and operating costs.

Total Asset Performance Management Global Market GrowthFor the purpose of this report, asset performance management includes five key domains: plant asset management, asset reliability, enterprise asset management, field service management, and asset integrity management.

Industrial Internet of Things (IoT) is rapidly reshaping how assets are managed.  APM is getting much attention as the low hanging fruit of the Industrial IoT.  New levels of asset management are enabling the ability to manage asset components, individual assets, systems of assets, systems of systems, and entirely new classes of assets.  The desire to achieve enterprise-wide APM is being driven in part by the availability and broad usefulness of low-cost sensors to help gather massive amounts of asset data, analytics to help analyze this data, and by the availability of modern cloud application platforms.

With the advent of industrial IoT and advanced technologies, traditional approaches to asset management are changing rapidly.  End users are looking to leverage asset management platforms to aggregate and analyze asset data from disparate sources.  They can apply analytical models to this data to predict failures of critical equipment components and use the information to prioritize maintenance activities.  

Asset Performance Management Strategic Issues

Asset Performance Management Market TrendsIn addition to providing a five-year market forecast, the Total Asset Performance Management market research provides detailed quantitative current market data and addresses key strategic issues as given below.

Convergence of IT/OT/ET

The convergence of the IT/OT/ET domains is having a dramatic impact on the overall APM market as new technologies such as analytics, digital twins, and VR/AR become more entrenched.  These new tools provide owner-operators with greater insights about asset health and better assessment of asset management strategies.

Analytics Among the Hottest Trends in the APM Space

Analytics is currently among the hottest trends in automation software in general.  The ability to parse enormous data sets to gain in-sight into asset health and performance enables manufacturing organizations to target their optimization efforts more finely than ever before.  These techniques also introduce a new set of software-only suppliers to enter the APM market that may not have the industry or process knowledge to be as effective as those with deep domain expertise.  

Impact of “Great Crew Change”

A large number of seasoned industry veterans are nearing retirement and fewer younger workers are available to take over during this “great crew change.”  APM solutions and services can help fill this gap of retiring domain experts by leveraging artificial intelligence, predictive analytics, connectivity, and other pertinent components to help ensure optimal system performance with less human involvement.

For more information or to purchase the Asset Performance Management study, please contact us.

Asset Performance Management Study Formats and Editions Available

This market study may be purchased as an Excel Workbook and/or as a PDF File.  The Workbook has some unique features such as the ability to view data in local currency.  Regional studies include country and industry market data.  Country studies include market trends and industry data.  Studies and formats available are listed below:

MIRA Workbook PDF File
Worldwide (includes regional data) Yes Yes
North America (includes country data) Yes No
Latin America (includes country data) Yes No
Europe, Middle East, Africa (includes country data) Yes No
Asia (includes country data) Yes No
Country Profiles (includes country data) No Yes

Countries included in each region.

Table of contents for these studies is shown in the following paragraphs.

Worldwide Research Focus Areas

Strategic Analysis

  • Major Trends
  • Regional Trends
  • Industry Trends
  • Strategic Recommendations

Competitive Analysis

  • Market Shares of the Leading Suppliers
  • Market Shares by Region
    • North America
    • Europe, Middle East, Africa
    • Asia
    • Latin America
  • Market Shares by Product Category
    • Asset Integrity Management
    • Asset Reliability
    • Enterprise Asset Management 
    • Field Service Management
    • Plant Asset Management
  • Market Shares by Industry
    • Aerospace & Defense
    • Automotive
    • Buildings
    • Chemical
    • Education
    • Electric Power Generation
    • Electric Power T&D
    • Financial
    • Food & Beverage
    • Government
    • Healthcare
    • Machinery
    • Metals
    • Mining
    • Oil & Gas
    • Pharmaceutical & Biotech
    • Pulp & Paper
    • Refining
    • Residential Services
    • Semiconductors
    • Telecommunications
    • Transportation & Logistics
    • Water & Wastewater

    Market Forecast Analysis

    • Total Asset Performance Management Business
    • Shipments by Region
      • North America
      • Europe, Middle East, Africa
      • Asia
      • Latin America
    • Shipments by Product Category
      • Asset Integrity Management
      • Asset Reliability
      • Enterprise Asset Management
      • Field Service Management
      • Plant Asset Management
    • Shipments by Industry
      • Aerospace & Defense
      • Automotive
      • Buildings
      • Chemical
      • Education
      • Electric Power Generation
      • Electric Power T&D
      • Financial
      • Food & Beverage
      • Government
      • Health Care
      • Machinery
      • Metals
      • Mining
      • Oil & Gas
      • Pharmaceutical & Biotech
      • Pulp & Paper
      • Refining
      • Semiconductors
      • Telecommunications
      • Transportation & Logistics
      • Water & Wastewater

    Industry Participants

    The research identifies all relevant suppliers serving this market.

    Regional Research Focus Areas

    Strategic Analysis

    Competitive Analysis

    • Leading Suppliers in Region
    • Industry Shares in Region
    • Country Shares in Region
    • Leading Suppliers by Industry

    Market Forecast Analysis

    • Market Forecast by Country
    • Market Forecast by Industry

    Industry Participants

    Country Research Focus Areas

    P​lease contact us for the countries available for this study.

    For More Information

    For more information or to purchase the Asset Performance Management study, please contact us.