Asset Performance Management Market Data and Studies

Asset performance management (APM) systems act to improve the reliability and availability of physical assets while minimizing risk and operating costs.  APM typically includes condition monitoring, predictive maintenance, asset integrity management, reliability-centered maintenance, and often involves technologies such as asset health data collection, visualization, and analytics.

Industrial IoT (IIoT) and Industrie 4.0 provide new opportunities to improve overall business performance, particularly for APM.  For owner-operators, this includes operational improvements mostly through improved asset reliability in the process industries and higher quality in the discrete industries.  For original equipment manufacturers (OEMs), IIoT offers new sources of revenue by extending the company’s business model into aftermarket services for higher reliability and quality.  For both end users and suppliers, this incorporates IIoT, analytics, and other predictive and prescriptive technologies to bring performance to a higher level.  

ARC Advisory Group’s suite of APM-related market analysis reports and supplier selection guides are invaluable tools for APM solution vendors and end users trying to navigate the ever changing market dynamics resulting from the trend towards the digital transformation of the heavy process industries, global pandemics, trade wars, currency exchange rate fluctuations, and dynamic economic swings.  ARC’s market analysis reports are used by all the leading global APM software and hardware vendors to benchmark themselves against the competition and develop their business plans to optimize the opportunities provided by these turbulent market dynamics.  Likewise, ARC’s APM related selection guides are used by some of the largest process manufacturers to ensure they choose a solution partner best suited for their regional, vertical, and application focus. 

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Asset Integrity Management

Asset integrity management (AIM) refers to the software and services utilized in systematic and coordinated activities to ensure the availability of critical assets and systems while protecting health, safety, and the environment.  Asset integrity management helps ensure that the people, systems, processes, and resources that deliver integrity are in place, are in use, and will perform when required. 

The AIM software and services market promises to deliver continued growth for the foreseeable future.  This report answers key strategic questions, such as: Who is the current and future customer for AIM software and services? What role will Industrial IoT and Industrie 4.0 play in this market? Who are the leading suppliers? What does the future hold for this market?

More information on the Asset Integrity Management study.

Asset Reliability Software & Services

Asset reliability solutions capture and analyze historical and real-time operational and asset data to improve asset performance, reduce costs, and facilitate mission-critical decision-making in core business operations.  Reliability solutions enable manufacturers to consistently achieve higher levels of operational efficiency and safety by balancing costs and risk to optimize safety and benefits.  Reliability services are consulting engagements designed to help owner-operators redesign work and people processes consistent with the software.

ARC Advisory Group’s Asset Reliability Software and Services market report answers key strategic questions, such as: How will machine learning and artificial intelligence impact reliability software? What role will Industrial IoT play in this market? Who are the leading suppliers in this market? What is the outlook for this market?

More information on the Asset Reliability Software & Services study.

Enterprise Asset Management

Enterprise Asset Management (EAM) systems are used by the asset owner and/or operator to manage the maintenance of their physical assets.  These assets including equipment, buildings, vehicles, and infrastructure need maintenance to sustain their operations.  An EAM system provides the means to have less unplanned downtime and extended asset longevity, which has clear business benefits that improve the profit and loss (P&L) statement and balance sheet.

functions for EAM include asset information, work orders, MRO materials, labor skills, service contracts, finance, and analytics.  Computerize Maintenance Management System (CMMS) is an older term that is continues to be used to describe this type of software.

ARC Advisory Group has been covering the global EAM market since early 2000s. The EAM market report examines the recent past, and current trends to assess what the future holds across different aspects of EAM.

More information on the Enterprise Asset Management study.

Field Service Management

Field Service Management (FSM) systems are used by a service provider to manage the maintenance of physical assets that are geographically widely dispersed either on their customers’ sites (as with an OEM or services company), or its own assets (as with power T&D). FSM solutions are typically designed for use by third parties that provide maintenance services to asset owner-operators Now, IoT-enabled remote monitoring, analytics, and proactive maintenance offers opportunities for service providers to reduce or nearly eliminate unplanned downtime at their clients' facilities. This opportunity requires a solution that integrates disparate systems and associated business processes for remote monitoring, predictive analytics, and FSM. This "FSM 2.0" approach can enable operating improvements that provide industrial organizations with a competitive advantage to help boost shareholder value.

ARC Advisory Group has been covering the FSM market dynamics since early 2000s. While earlier, it was covered as a part of the EAM market, since 2015 ARC has been covering it in a separate focused report. The market report focusing on FSM trends, software, and solution providers is trusted by the leading FSM suppliers for benchmarking and competitive analysis. 

More information on the Field Service Management study.

Plant Asset Management

Plant asset management (PAM) systems consist of hardware, software, and services to assess asset health by monitoring asset condition.  PAM provides predictive asset health information from data embedded in smart field devices, control systems, and various sensors in concert with an analytical engine to predict potential asset failures. 

PAM systems market reveals that the current generation of PAM systems has matured into Industrial IoT-enabled advanced analytics solutions that leverage machine learning and pattern recognition to predict asset failures. 

ARC Advisory Group has been covering the global PAM market dynamics on an ongoing basis since our first publication of the report in 2005.  With its wide coverage ranging from traditional condition monitoring solutions to advanced IoT-enabled solutions ARC’s PAM market analysis report is trusted by all the leading global PAM suppliers to benchmark themselves against the competition and develop their business plans to optimize the opportunities provided by the ever-changing market dynamics. 

More information on the Plant Asset Management study.

Asset Performance Management

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

ARC Advisory Group’s APM market report includes five key domains: plant asset management, asset reliability, enterprise asset management, field service management, and asset integrity management. The roll-up report provides a high level view of the entire APM market to the readers.

More information on the Asset Performance Management study.