Publish Date
The Plant Asset 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 and all regions.
Digital Transformation Spurs Plant Asset Management System Growth
A significant portion of critical assets reflects a high degree of technical sophistication, making problem isolation and identification increasingly difficult. 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 will benefit from the digital transformation underway in the manufacturing industries due to the increased amounts of asset monitoring that will be required to optimize performance. Remote asset monitoring is expected to be the growth engine. Asset monitoring also enables end users to more confidently extend asset life.
PAM suppliers continue to enhance PAM hardware for ease of use not only for their customers, but for their own use as they rely on the same tools in the supply of asset management services to end users. Remote monitoring and predictive maintenance, sweet spots for PAM systems, are initial target applications for the Industrial Internet of Things.
Suppliers are also working to ease integration of PAM software with enterprise applications such as EAM, ERP, and reliability as integration remains high on the list of challenges for end users. PAM services are expected to grow at a rate that outpaces that of hardware and software combined.
Plant Asset Management Strategic Issues
Uncertainty and a wait-and-see attitude on the part of end users toward the Industrial Internet of Things is causing end users to proceed with caution.
- Are different strategies required for greenfield vs. brownfield installations?
- Is the traditional approach to maintaining assets sustainable?
- How critical is initial cost in relation to lifecycle cost?
- Will the FDA’s adoption of risk-based policies impact PAM adoption in the hybrid industries?
Plant Asset 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 |
| China | No | No |
| India | No | No |
Countries included in each region.
Table of contents for these studies is shown in the following paragraphs.
Worldwide Research Focus Areas
Worldwide Research Focus Areas
Strategic Analysis
- Major Trends
- Industry Trends
- Regional Trends
- End User Trends
- Strategies & Recommendations for Success
Competitive Analysis
- Market Shares of the Leading Suppliers
- Market Shares by Region
- North America
- Europe, Middle East, Africa
- Asia
- Latin America
- Market Shares by Revenue Category
- Hardware
- Software
- Services
- Market Shares by Industry
- Chemical
- Electric Power Generation
- Food & Beverage
- Metals
- Mining
- Oil & Gas
- Pharmaceutical & Biotech
- Pulp & Paper
- Refining
- Water & Wastewater
- Market Shares by Asset Type
- Production Assets
- by Industry
- by Revenue Category
- by Technology
- by Network Technology
- by Deployment Option
- by Communication Network
- Automation Assets
- by Industry
- by Revenue Category
- by Technology
- by Network Technology
- by Deployment Option
- by Communication Network
- by Business System Integration
- Production Assets
Market Forecasts and Histories
- Total Shipments of Plant Asset Management Systems
- Shipments by Region
- North America
- Europe, Middle East, Africa
- Asia
- Latin America
- Shipments by Revenue Category
- Hardware
- Software
- Services
- Shipments by Asset Type
- Production
- by Industry
- by Revenue Category
- by Technology
- by Network Technology
- by Deployment Option
- by Communication Network
- Automation
- by Industry
- by Revenue Category
- by Technology
- by Network Technology
- by Deployment Option
- by Communication Network
- Production
- Shipments by Industry
- Chemical & Petrochemical
- Electric Power Generation
- Food & Beverage
- Metals
- Mining
- Oil & Gas
- Pharmaceutical & Biotech
- Pulp & Paper
- Refining
- Water & Wastewater
- Shipments by Business System Integration
- Shipments by Sales Channel
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 Forecasts and Histories
- Market Forecast and History by Country
- Market Forecast and History by Industry
Industry Participants
List of countries included in each region: MIRA-Country
Country Research Focus Areas
Contact us for the countries available for this study.