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Global Asset Performance Management Market by Component (Solutions (Asset Strategy, Asset Reliability, and Predictive Asset Management) and Services), Deployment Type, Organization Size, Vertical, and Region - Forecast to 2028

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    Report

  • 275 Pages
  • August 2023
  • Region: Global
  • Markets and Markets
  • ID: 5397856

Need to Meet Regulatory Compliance and Reporting Standards Across Asset-Centric Organizations

The asset performance management market size is expected to grow from USD 2.9 billion in 2023 to USD 4.7 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 9.9% during the forecast period. Requirement to extend life span of assets with help of advanced technologies and growing inclination toward adoption of new approach to asset performance management with Industry 4.0 to offer opportunities for the growth of asset performance management market. Lack of skilled workforce and poor management skills represents a significant challenge for the growth of the asset performance management market.

As per component, the services segment is projected to witness a higher CAGR during the forecast period

On the basis of services, the asset performance management market is segmented into two categories: professional and managed services. These services assist in building, assessing, and leveraging asset performance management environments to avoid time wastage and effort on a failed implementation. Enterprises need active support from skilled professionals to minimize their downtime during the pre-and post-installation of asset performance management solutions. These services provide the necessary support to uphold the efficiency of business processes, increase enterprise growth, and reduce unwanted operational expenses.

As per deployment type, the on-premises segment to hold a larger market share in 2023

The on-premises deployment of asset performance management solutions and services is a commonly used practice. It offers enterprises the power to manage risks, business processes, and industry policies and enables compliance management. Security and compliance are major concerns for businesses to manage the ever-increasing demand for customer experience. The adoption of on-premises asset performance management solutions reduces security risks and helps in boosting customer experience. The secure feature of on-premises has led to the modernization of operations to increase response rates, enhance efficiency, and reduce costs. On-premises deployment is a traditional approach to implement asset performance management solutions across enterprises.

As per organization size, the SMEs segment is projected to grow at a higher CAGR during the forecast period

Asset performance management enables organizations to evaluate the variables that affect asset performance while in the field, ranging from feedstock in a pump to the training or work habits of the site crew. Asset performance management solutions monitor every asset and generate data. The generated data can allow technicians to perform more accurate Root Cause Analysis (RCA). In this way, teams throughout the organization can understand the process parameters that can lead to failures or reduced asset performance, enabling them to align more effectively across the supply network; improve planning; and reduce inventory, loss-of-market, and logistics costs. These factors are also expected to encourage SMEs to adopt asset performance management solutions and services at a rapid pace.

The breakup of the profiles of the primary participants is given 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 - 25%, Europe - 30%, Asia Pacific - 30%, Middle East & Africa - 10%, Latin America - 5%

Note: Others include sales managers, marketing managers, and product managers

Note: Tier 1 companies have revenues 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 Publisher Analysis

Some of the key players operating in the asset performance management market are - AVEVA (UK), SAP (Germany), GE Digital (US), IBM (US), ABB (Switzerland), Emerson (US), Bentley Systems (US), Rockwell Automation (US), Fluke (US), and DNV (Norway).

Research coverage:

The market study covers the asset performance management market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as component, deployment type, organization size, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall asset performance management market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (need to meet regulatory compliance and reporting standards across asset-centric organizations, growing need to manage assets efficiency and sustainability and optimize total cost of ownership, demand for making informed business decisions with predictive asset maintenance, increased digital workforce and reliability culture, and growing need to optimize asset performance management strategy with a 360-degree view of asset performance), restraints (concerns over data security and confidentiality and impact of stringent government rules and regulations), opportunities (requirement to extend life span of assets with help of advanced technologies, growing inclination toward adoption of new approach to asset performance management with industry 4.0, rising trend of proactive asset performance management with iiot, predictive, and prescriptive analytics, adoption of digital twin solutions for asset performance management to drive better return on assets, and inclination of organizations toward cloud-based deployments to overcome on-premises limitations), and challenges (lack of skilled workforce and poor management skills and difficulties with integration and implementation of asset performance management with existing applications) influencing the growth of the asset performance management 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 service offerings of leading players like AVEVA, SAP, GE Digital, IBM, ABB, Emerson, Bentley Systems, Rockwell Automation, Fluke, DNV,among others in the asset performance management market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered
1.4 Currency
Table 1 USD Exchange Rate, 2015-2022
1.5 Stakeholders
1.6 Summary of Changes

2 Research Methodology
2.1 Research Data
Figure 1 Asset Performance Management Market: Research Design
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primary Profiles
Figure 2 Breakup of Primary Interviews: by Company Type, Designation, and Region
2.1.2.2 Key Industry Insights
2.2 Data Triangulation
2.3 Market Size Estimation
Figure 3 Market: Top-Down and Bottom-Up Approaches
Figure 4 Market Size Estimation Methodology - Approach 1 (Top-Down): Revenue of Vendors Offering Asset Performance Management Solutions and Services
Figure 5 Market Size Estimation Methodology - Approach 2 (Bottom-Up): Revenue of Vendors Offering Asset Performance Management Solutions and Services
Figure 6 Market Size Estimation Methodology - Approach 3 (Demand Side): Collective Revenue from All Solutions/Services of Asset Performance Management Market
Figure 7 Market Size Sizing Methodology - Supply Side: Illustration of Vendor Revenue Estimation
Figure 8 Market Size Estimation Methodology - Supply Side: CAGR Projections from Supply Side
2.4 Market Forecast
Table 2 Market: Factor Analysis
2.5 Research Assumptions
2.6 Limitations

3 Executive Summary
3.1 Recession Impact
Figure 9 Asset Performance Management Market Snapshot, 2019-2028
Figure 10 High-Growth Segments in Market
Figure 11 Asset Strategy Management Segment to Account for Largest Share During Forecast Period
Figure 12 On-Premises Segment to Account for Larger Market Share During Forecast Period
Figure 13 Top End-users of Asset Performance Management
Figure 14 Market: Regional Snapshot

4 Premium Insights
4.1 Attractive Growth Opportunities in Asset Performance Management Market
Figure 15 Need for Simplifying Information Technology Operations Workflow to Drive Adoption
4.2 Market, by Solution (2023 Vs. 2028)
Figure 16 Asset Strategy Management Segment to Account for Largest Market Share During Forecast Period
4.3 Market, by Deployment Type
Figure 17 On-Premises Segment Accounts for Major Share of Market in 2023
4.4 Market, by Organization Size
Figure 18 Large Enterprises Segment Accounts for Dominant Market Share in 2023
4.5 Market, by Vertical (2023 Vs. 2028)
Figure 19 Energy & Utilities Vertical to be Largest End-user During Forecast Period
4.6 Market: Regional Scenario, 2023-2028
Figure 20 Asia-Pacific to Register Highest CAGR During Forecast Period

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
Figure 21 Asset Performance Management Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Need to Meet Regulatory Compliance and Reporting Standards Across Asset-Centric Organizations
5.2.1.2 Growing Need to Manage Assets Efficiency and Sustainability and Optimize Total Cost of Ownership
Figure 22 Major Benefits Driving Adoption of Asset Performance Management
5.2.1.3 Demand for Making Informed Business Decisions with Predictive Asset Maintenance
Figure 23 Top Asset Performance Management Vendors Rapidly Climbing to More Mature Levels (Name)
5.2.1.4 Increased Digital Workforce and Reliability Culture
5.2.1.5 Growing Need to Optimize Asset Performance Management Strategy with 360-Degree View of Asset Performance
5.2.2 Restraints
5.2.2.1 Concerns Over Data Security and Confidentiality
5.2.2.2 Stringent Government Rules and Regulations
5.2.3 Opportunities
5.2.3.1 Requirement to Extend Life Span of Assets with Help of Advanced Technologies
5.2.3.2 Growing Inclination Toward Adoption of New Approach to Asset Performance Management with Industry 4.0
5.2.3.3 Rising Trend of Proactive Asset Performance Management with Iiot, Predictive, and Prescriptive Analytics
5.2.3.4 Adoption of Digital Twin Solutions for Asset Performance Management to Drive Better Return on Assets
5.2.3.5 Inclination of Organizations Toward Cloud-Based Deployments to Overcome On-Premises Limitations
5.2.4 Challenges
5.2.4.1 Lack of Skilled Workforce and Poor Management Skills
5.2.4.2 Difficulties with Integration and Implementation of Asset Performance Management with Existing Applications
5.3 Case Study Analysis
5.3.1 Case Study 1: Aveva to the Aid of Tata Power Towards Efficient Operations
5.3.2 Case Study 2: Reducing Human Error while Improving Resource Effectiveness
5.3.3 Case Study 3: Overall Enhancement in Nova Scotia Power's Functioning and Asset Management, Monitoring Asset Health
5.4 Ecosystem Analysis
Figure 24 Asset Performance Management Market: Ecosystem Mapping
Table 3 Market: Role in Ecosystem
5.5 Value Chain Analysis
Figure 25 Market: Value Chain Analysis
5.6 Technology Analysis
5.6.1 Cloud/Software as a Service (Saas)
5.6.2 Artificial Intelligence
5.6.3 Machine Learning
5.6.4 IoT Technology
5.6.5 Augmented Reality
5.7 Patent Analysis
Figure 26 Number of Patents Published (2012-2023)
Figure 27 Top Patent Owners
Table 4 Asset Performance Management Market: Top Ten Patent Applicants
Table 5 Market: List of Patents
5.8 Pricing Analysis
Table 6 Market: Pricing Analysis of Vendors
5.9 Porter's Five Forces Model
Figure 28 Market: Porter's Five Forces Analysis
Table 7 Market: Porter's Five Forces Analysis
5.9.1 Threat of New Entrants
5.9.2 Threat of Substitutes
5.9.3 Bargaining Power of Suppliers
5.9.4 Bargaining Power of Buyers
5.9.5 Intensity of Competitive Rivalry
5.10 Key Stakeholders and Buying Criteria
5.10.1 Key Stakeholders in Buying Process
Figure 29 Influence of Stakeholders on Buying Process for Top End-users
Table 8 Influence of Stakeholders on Buying Process for Top End-users (%)
5.10.2 Buying Criteria
Figure 30 Key Buying Criteria for Top End-users
Table 9 Key Buying Criteria for End-users
5.11 Regulatory Landscape
5.11.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 10 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 11 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 12 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 13 Rest of World: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.11.2 Regulations
5.11.2.1 North America
5.11.2.2 Europe
5.11.2.3 Asia-Pacific
5.11.2.4 Middle East and South Africa
5.11.2.5 Latin America
5.12 Trends/Disruptions Impacting Customer Business
Figure 31 Trends/Disruptions Impacting Buyers
5.13 Key Conferences & Events in 2023-2024
Table 14 Market: Detailed List of Conferences and Events

6 Asset Performance Management Market, by Component
6.1 Introduction
6.1.1 Component: Market Drivers
Figure 32 Services Segment to Register Higher CAGR During Forecast Period
Table 15 Market Size, by Component, 2019-2022 (USD Million)
Table 16 Market Size, by Component 2023-2028 (USD Million)
6.2 Solutions
Figure 33 Predictive Asset Management Segment to Witness Highest CAGR During Forecast Period
Table 17 Market Size, by Solution, 2019-2022 (USD Million)
Table 18 Market Size, by Solution, 2023-2028 (USD Million)
6.2.1 Asset Strategy Management
6.2.1.1 Growing Focus on Gaining High Return on Assets to Increase Demand for Asset Strategy Management Solutions
Table 19 Asset Strategy Management: Market Size, by Region, 2019-2022 (USD Million)
Table 20 Asset Strategy Management: Market Size, by Region, 2023-2028 (USD Million)
6.2.2 Asset Reliability Management
6.2.2.1 Necessity of Increase Production, Provide Worker Safety, and Achieve On-Time Customer Deliveries to Create Demand
Table 21 Asset Reliability Management: Asset Performance Management Market Size, by Region, 2019-2022 (USD Million)
Table 22 Asset Reliability Management: Market Size, by Region, 2023-2028 (USD Million)
6.2.3 Predictive Asset Management
6.2.3.1 Need to Maintain Critical Assets Efficiently to Drive Demand in Coming Years
Table 23 Predictive Asset Management: Market Size, by Region, 2019-2022 (USD Million)
Table 24 Predictive Asset Management: Market Size, by Region, 2023-2028 (USD Million)
6.2.4 Other Solutions
Table 25 Other Solutions: Market Size, by Region, 2019-2022 (USD Million)
Table 26 Other Solutions: Market Size, by Region, 2023-2028 (USD Million)
6.3 Services
Figure 34 Managed Services Segment to Register Higher CAGR During Forecast Period
Table 27 Market Size, by Service, 2019-2022 (USD Million)
Table 28 Market Size, by Service, 2023-2028 (USD Million)
6.3.1 Professional Services
6.3.1.1 Demand for Support & Maintenance Services to Fuel Adoption of Professional Services
Figure 35 Implementation & Integration Segment to Account for Largest Share During Forecast Period
Table 29 Asset Performance Management Market Size, by Professional Service, 2019-2022 (USD Million)
Table 30 Market Size, by Professional Service, 2023-2028 (USD Million)
Table 31 Professional Services: Market Size, by Region, 2019-2022 (USD Million)
Table 32 Professional Services: Market Size, by Region, 2023-2028 (USD Million)
6.3.1.2 Implementation & Integration
Table 33 Implementation & Integration: Market Size, by Region, 2019-2022 (USD Million)
Table 34 Implementation & Integration: Market Size, by Region, 2023-2028 (USD Million)
6.3.1.3 Consulting
Table 35 Consulting: Market Size, by Region, 2019-2022 (USD Million)
Table 36 Consulting: Market Size, by Region, 2023-2028 (USD Million)
6.3.1.4 Support & Maintenance
Table 37 Support & Maintenance: Market Size, by Region, 2019-2022 (USD Million)
Table 38 Support & Maintenance: Market Size, by Region, 2023-2028 (USD Million)
6.3.2 Managed Services
6.3.2.1 Better Cost Control, Improved Risk Management, and High Organizational Availability to Increase Adoption
Table 39 Managed Services: Market Size, by Region, 2019-2022 (USD Million)
Table 40 Managed Services: Market Size, by Region, 2023-2028 (USD Million)

7 Asset Performance Management Market, by Organization Size
7.1 Introduction
7.1.1 Organization Size: Market Drivers
Figure 36 Small & Medium-Sized Enterprises Segment to Register Higher CAGR During Forecast Period
Table 41 Market Size, by Organization Size, 2019-2022 (USD Million)
Table 42 Market Size, by Organization Size, 2023-2028 (USD Million)
7.2 Large Enterprises
7.2.1 North America to Dominate Market in Large Enterprises
Table 43 Large Enterprises: Market Size, by Region, 2019-2022 (USD Million)
Table 44 Large Enterprises: Market Size, by Region, 2023-2028 (USD Million)
7.3 Small & Medium-Sized Enterprises
7.3.1 Asia-Pacific to Witness Highest Growth in Adoption of Asset Performance Management Among Smes
Table 45 Small & Medium-Sized Enterprises: Market Size, by Region, 2019-2022 (USD Million)
Table 46 Small & Medium-Sized Enterprises: Market Size, by Region, 2023-2028 (USD Million)

8 Asset Performance Management Market, by Deployment Type
8.1 Introduction
8.1.1 Deployment Types: Market Drivers
Figure 37 Cloud Segment to Register Higher CAGR During Forecast Period
Table 47 Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 48 Market Size, by Deployment Type, 2023-2028 (USD Million)
8.2 On-Premises
8.2.1 Companies with Large Budgets and Teams to Drive Adoption of On-Premises Deployment
Table 49 On-Premises: Market Size, by Region, 2019-2022 (USD Million)
Table 50 On-Premises: Market Size, by Region, 2023-2028 (USD Million)
8.3 Cloud
8.3.1 Cost-Effectiveness, Easy Access, and Scalability to Boost Demand for Cloud-Based Solutions
Table 51 Cloud: Market Size, by Region, 2019-2022 (USD Million)
Table 52 Cloud: Market Size, by Region, 2023-2028 (USD Million)

9 Asset Performance Management Market, by Vertical
9.1 Introduction
9.1.1 Verticals: Market Drivers
Figure 38 Chemicals Segment to Witness Highest CAGR During Forecast Period
Table 53 Market Size, by Vertical, 2019-2022 (USD Million)
Table 54 Market Size, by Vertical, 2023-2028 (USD Million)
9.2 Energy & Utilities
9.2.1 Asia-Pacific to be Fastest-Growing Market for Asset Performance Management in Energy & Utilities Segment
Table 55 Energy & Utilities: Asset Performance Management Market Size, by Region, 2019-2022 (USD Million)
Table 56 Energy & Utilities: Market Size, by Region, 2023-2028 (USD Million)
9.3 Manufacturing
9.3.1 Rapid Digital Transformation and Deployment of Ai and IIoT to Accelerate Adoption of Asset Performance Management
Table 57 Manufacturing: Market Size, by Region, 2019-2022 (USD Million)
Table 58 Manufacturing: Market Size, by Region, 2023-2028 (USD Million)
9.4 Government & Defense
9.4.1 Need to Manage and Track Large Fleet of Assets in Real-Time and Reduce Mission Asset Downtime to Boost Demand
Table 59 Government & Defense: Market Size, by Region, 2019-2022 (USD Million)
Table 60 Government & Defense: Market Size, by Region, 2023-2028 (USD Million)
9.5 Chemicals
9.5.1 High Maintenance and Repair Costs of Assets Around Hazardous Chemical Inventory to Drive Adoption
Table 61 Chemicals: Market Size, by Region, 2019-2022 (USD Million)
Table 62 Chemicals: Market Size, by Region, 2023-2028 (USD Million)
9.6 Telecommunications
9.6.1 Ability to Visualize Complex Networks and Optimize Asset Operations to Drive Market
Table 63 Telecommunications: Asset Performance Management Market Size, by Region, 2019-2022 (USD Million)
Table 64 Telecommunications: Market Size, by Region, 2023-2028 (USD Million)
9.7 Healthcare & Pharmaceuticals
9.7.1 Growing Need for Leveraging Asset Data to Reduce Health Equipment Downtime to Support Market Growth
Table 65 Healthcare & Pharmaceuticals: Market Size, by Region, 2019-2022 (USD Million)
Table 66 Healthcare & Pharmaceuticals: Market Size, by Region, 2023-2028 (USD Million)
9.8 Consumer Goods, Food & Beverages
9.8.1 Need for Optimization of Supply Chain to Accelerate Adoption of Asset Performance Management Solutions
Table 67 Consumer Goods, Food & Beverages: Market Size, by Region, 2019-2022 (USD Million)
Table 68 Consumer Goods, Food & Beverages: Market Size, by Region, 2023-2028 (USD Million)
9.9 Other Verticals
Table 69 Other Verticals: Market Size, by Region, 2019-2022 (USD Million)
Table 70 Other Verticals: Market Size, by Region, 2023-2028 (USD Million)

10 Asset Performance Management Market, by Region
10.1 Introduction
Figure 39 Asia-Pacific to Register Highest CAGR During Forecast Period
Table 71 Market Size, by Region, 2019-2022 (USD Million)
Table 72 Market Size, by Region, 2023-2028 (USD Million)
10.2 North America
10.2.1 North America: Market Drivers
10.2.2 North America: Recession Impact
Figure 40 North America: Market Snapshot
Table 73 North America: Asset Performance Management Market Size, by Component, 2019-2022 (USD Million)
Table 74 North America: Market Size, by Component, 2023-2028 (USD Million)
Table 75 North America: Market Size, by Solution, 2019-2022 (USD Million)
Table 76 North America: Market Size, by Solution, 2023-2028 (USD Million)
Table 77 North America: Market Size, by Services, 2019-2022 (USD Million)
Table 78 North America: Market Size, by Services, 2023-2028 (USD Million)
Table 79 North America: Market Size, by Professional Services, 2019-2022 (USD Million)
Table 80 North America: Market Size, by Professional Services, 2023-2028 (USD Million)
Table 81 North America: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 82 North America: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 83 North America: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 84 North America: Market Size, by Organization Size, 2023-2028 (USD Million)
Table 85 North America: Market Size, by Vertical, 2019-2022 (USD Million)
Table 86 North America: Market Size, by Vertical, 2023-2028 (USD Million)
Table 87 North America: Market Size, by Country, 2019-2022 (USD Million)
Table 88 North America: Market Size, by Country, 2023-2028 (USD Million)
10.2.3 US
10.2.3.1 Rising Adoption of Advanced Digital Technologies to Drive Market for Asset Performance Management
Table 89 US: Asset Performance Management Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 90 US: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 91 US: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 92 US: Market Size, by Organization Size, 2023-2028 (USD Million)
10.2.4 Canada
10.2.4.1 Rising Adoption of Cloud Across Asset-Centric Organizations to Boost Market
Table 93 Canada: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 94 Canada: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 95 Canada: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 96 Canada: Market Size, by Organization Size, 2023-2028 (USD Million)
10.3 Europe
10.3.1 Europe: Market Drivers
10.3.2 Europe: Recession Impact
Table 97 Europe: Asset Performance Management Market Size, by Component, 2019-2022 (USD Million)
Table 98 Europe: Market Size, by Component, 2023-2028 (USD Million)
Table 99 Europe: Market Size, by Solution, 2019-2022 (USD Million)
Table 100 Europe: Market Size, by Solution, 2023-2028 (USD Million)
Table 101 Europe: Market Size, by Services, 2019-2022 (USD Million)
Table 102 Europe: Market Size, by Services, 2023-2028 (USD Million)
Table 103 Europe: Market Size, by Professional Services, 2019-2022 (USD Million)
Table 104 Europe: Market Size, by Professional Services, 2023-2028 (USD Million)
Table 105 Europe: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 106 Europe: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 107 Europe: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 108 Europe: Market Size, by Organization Size, 2023-2028 (USD Million)
Table 109 Europe: Market Size, by Vertical, 2019-2022 (USD Million)
Table 110 Europe: Market Size, by Vertical, 2023-2028 (USD Million)
Table 111 Europe: Market Size, by Country, 2019-2022 (USD Million)
Table 112 Europe: Market Size, by Country, 2023-2028 (USD Million)
10.3.3 UK
10.3.3.1 Increasing Demand for Robust Solutions to Enhance Organizational Performance to Fuel Market
Table 113 UK: Asset Performance Management Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 114 UK: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 115 UK: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 116 UK: Market Size, by Organization Size, 2023-2028 (USD Million)
10.3.4 Germany
10.3.4.1 Growing Need to Streamline Maintenance Operations to Create Demand for Asset Performance Management
Table 117 Germany: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 118 Germany: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 119 Germany: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 120 Germany: Market Size, by Organization Size, 2023-2028 (USD Million)
10.3.5 France
10.3.5.1 Availability of Highly Skilled Asset Performance Management Professionals Contributing to Market Growth
Table 121 France: Asset Performance Management Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 122 France: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 123 France: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 124 France: Market Size, by Organization Size, 2023-2028 (USD Million)
10.3.6 Rest of Europe
Table 125 Rest of Europe: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 126 Rest of Europe: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 127 Rest of Europe: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 128 Rest of Europe: Market Size, by Organization Size, 2023-2028 (USD Million)
10.4 Asia-Pacific
10.4.1 Asia-Pacific: Market Drivers
10.4.2 Asia-Pacific: Recession Impact
Figure 41 Asia-Pacific: Asset Performance Management Market Snapshot
Table 129 Asia-Pacific: Market Size, by Component, 2019-2022 (USD Million)
Table 130 Asia-Pacific: Market Size, by Component, 2023-2028 (USD Million)
Table 131 Asia-Pacific: Market Size, by Solution, 2019-2022 (USD Million)
Table 132 Asia-Pacific: Market Size, by Solution, 2023-2028 (USD Million)
Table 133 Asia-Pacific: Market Size, by Services, 2019-2022 (USD Million)
Table 134 Asia-Pacific: Market Size, by Services, 2023-2028 (USD Million)
Table 135 Asia-Pacific: Market Size, by Professional Services, 2019-2022 (USD Million)
Table 136 Asia-Pacific: Market Size, by Professional Services, 2023-2028 (USD Million)
Table 137 Asia-Pacific: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 138 Asia-Pacific: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 139 Asia-Pacific: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 140 Asia-Pacific: Market Size, by Organization Size, 2023-2028 (USD Million)
Table 141 Asia-Pacific: Market Size, by Vertical, 2019-2022 (USD Million)
Table 142 Asia-Pacific: Market Size, by Vertical, 2023-2028 (USD Million)
Table 143 Asia-Pacific: Market Size, by Country, 2019-2022 (USD Million)
Table 144 Asia-Pacific: Market Size, by Country, 2023-2028 (USD Million)
10.4.3 China
10.4.3.1 Increased Adoption of New Technologies, Such as Iiot, Mobile, and Cloud, to Drive Demand
Table 145 China: Asset Performance Management Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 146 China: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 147 China: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 148 China: Market Size, by Organization Size, 2023-2028 (USD Million)
10.4.4 Japan
10.4.4.1 Shift Toward Digital Transformation and Focus on Lowering Tco to Fuel Market Growth
Table 149 Japan: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 150 Japan: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 151 Japan: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 152 Japan: Market Size, by Organization Size, 2023-2028 (USD Million)
10.4.5 India
10.4.5.1 Ongoing Digital Transformation and Adoption of Industry 4.0 Technologies to Boost Demand
Table 153 India: Asset Performance Management Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 154 India: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 155 India: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 156 India: Market Size, by Organization Size, 2023-2028 (USD Million)
10.4.6 Rest of Asia-Pacific
Table 157 Rest of Asia-Pacific: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 158 Rest of Asia-Pacific: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 159 Rest of Asia-Pacific: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 160 Rest of Asia-Pacific: Market Size, by Organization Size, 2023-2028 (USD Million)
10.5 Middle East & Africa
10.5.1 Middle East & Africa: Market Drivers
10.5.2 Middle East & Africa: Recession Impact
Table 161 Middle East & Africa: Asset Performance Management Market Size, by Component, 2019-2022 (USD Million)
Table 162 Middle East & Africa: Market Size, by Component, 2023-2028 (USD Million)
Table 163 Middle East & Africa: Market Size, by Solution, 2019-2022 (USD Million)
Table 164 Middle East & Africa: Market Size, by Solution, 2023-2028 (USD Million)
Table 165 Middle East & Africa: Market Size, by Services, 2019-2022 (USD Million)
Table 166 Middle East & Africa: Market Size, by Services, 2023-2028 (USD Million)
Table 167 Middle East & Africa: Market Size, by Professional Services, 2019-2022 (USD Million)
Table 168 Middle East & Africa: Market Size, by Professional Services, 2023-2028 (USD Million)
Table 169 Middle East & Africa: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 170 Middle East & Africa: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 171 Middle East & Africa: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 172 Middle East & Africa: Market Size, by Organization Size, 2023-2028 (USD Million)
Table 173 Middle East & Africa: Market Size, by Vertical, 2019-2022 (USD Million)
Table 174 Middle East & Africa: Market Size, by Vertical, 2023-2028 (USD Million)
Table 175 Middle East & Africa: Market Size, by Country, 2019-2022 (USD Million)
Table 176 Middle East & Africa: Market Size, by Country, 2023-2028 (USD Million)
10.5.3 Saudi Arabia
10.5.3.1 Stringent Regulatory Framework and Compliance Standards to Boost Growth of Market
Table 177 Saudi Arabia: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 178 Saudi Arabia: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 179 Saudi Arabia: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 180 Saudi Arabia: Market Size, by Organization Size, 2023-2028 (USD Million)
10.5.4 UAE
10.5.4.1 Rising Need for Predictive and Prescriptive Analytics to Drive Market
Table 181 UAE: Asset Performance Management Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 182 UAE: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 183 UAE: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 184 UAE: Market Size, by Organization Size, 2023-2028 (USD Million)
10.5.5 South Africa
10.5.5.1 Large Untapped Market to Offer Opportunities for Asset Performance Management Companies
Table 185 South Africa: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 186 South Africa: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 187 South Africa: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 188 South Africa: Market Size, by Organization Size, 2023-2028 (USD Million)
10.5.6 Rest of Middle East & Africa
Table 189 Rest of Middle East & Africa: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 190 Rest of Middle East & Africa: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 191 Rest of Middle East & Africa: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 192 Rest of Middle East & Africa: Market Size, by Organization Size, 2023-2028 (USD Million)
10.6 Latin America
10.6.1 Latin America: Market Drivers
10.6.2 Latin America: Recession Impact
Table 193 Latin America: Asset Performance Management Market Size, by Component, 2019-2022 (USD Million)
Table 194 Latin America: Market Size, by Component, 2023-2028 (USD Million)
Table 195 Latin America: Market Size, by Solution, 2019-2022 (USD Million)
Table 196 Latin America: Market Size, by Solution, 2023-2028 (USD Million)
Table 197 Latin America: Market Size, by Services, 2019-2022 (USD Million)
Table 198 Latin America: Market Size, by Services, 2023-2028 (USD Million)
Table 199 Latin America: Market Size, by Professional Services, 2019-2022 (USD Million)
Table 200 Latin America: Market Size, by Professional Services, 2023-2028 (USD Million)
Table 201 Latin America: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 202 Latin America: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 203 Latin America: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 204 Latin America: Market Size, by Organization Size, 2023-2028 (USD Million)
Table 205 Latin America: Market Size, by Vertical, 2019-2022 (USD Million)
Table 206 Latin America: Market Size, by Vertical, 2023-2028 (USD Million)
Table 207 Latin America: Market Size, by Country, 2019-2022 (USD Million)
Table 208 Latin America: Market Size, by Country, 2023-2028 (USD Million)
10.6.3 Brazil
10.6.3.1 Rapid Digital Transformation Initiatives to Support Adoption of Asset Performance Management Solutions
Table 209 Brazil: Asset Performance Management Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 210 Brazil: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 211 Brazil: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 212 Brazil: Market Size, by Organization Size, 2023-2028 (USD Million)
10.6.4 Mexico
10.6.4.1 Oil & Gas and Energy & Utilities Industries to Drive Market
Table 213 Mexico: Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 214 Mexico: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 215 Mexico: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 216 Mexico: Market Size, by Organization Size, 2023-2028 (USD Million)
10.6.5 Rest of Latin America
Table 217 Rest of Latin America: Asset Performance Management Market Size, by Deployment Type, 2019-2022 (USD Million)
Table 218 Rest of Latin America: Market Size, by Deployment Type, 2023-2028 (USD Million)
Table 219 Rest of Latin America: Market Size, by Organization Size, 2019-2022 (USD Million)
Table 220 Rest of Latin America: Market Size, by Organization Size, 2023-2028 (USD Million)

11 Competitive Landscape
11.1 Introduction
11.2 Market Share of Top Vendors
Table 221 Asset Performance Management: Degree of Competition
Figure 42 Market Share Analysis of Companies in Market
11.3 Key Player Strategies
11.3.1 Overview of Strategies Adopted by Key Asset Performance Management Vendors
11.4 Historical Revenue Analysis of Top Vendors
Figure 43 Historical Three-Year Revenue Analysis of Leading Players in Market, 2020-2022
11.5 Vendor Products/Brands Comparison
Table 222 Vendor Products/Brands Comparison
11.6 Company Evaluation Quadrant, 2022
11.6.1 Definitions and Methodology
Figure 44 Company Evaluation Quadrant: Criteria Weightage
11.6.2 Stars
11.6.3 Emerging Leaders
11.6.4 Pervasive Players
11.6.5 Participants
Figure 45 Market (Global): Company Evaluation Matrix, 2022
Table 223 Asset Performance Management Market: Company Footprint
11.7 Smes/Startup Evaluation Quadrant
11.7.1 Definitions and Methodology
Figure 46 Startup/Sme Evaluation Matrix: Criteria Weightage
11.7.2 Progressive Companies
11.7.3 Responsive Companies
11.7.4 Dynamic Companies
11.7.5 Starting Blocks
Figure 47 Market (Global): Startup/Sme Evaluation Matrix, 2022
11.7.6 Competitive Benchmarking
Table 224 Market: Detailed List of Key Startups/Smes
Table 225 Market: Startup/Sme Footprint
11.8 Key Market Developments
Table 226 Market: New Launches, January 2020-July 2023
Table 227 Asset Performance Management Market: Deals, January 2020-July 2023

12 Company Profiles
12.1 Major Players
(Business Overview, Products/Solutions Offered, Recent Developments, Analyst's View)*
12.1.1 Aveva
Table 228 Aveva: Company Overview
Figure 48 Aveva: Company Snapshot
Table 229 Aveva: Product and Solution Offerings
Table 230 Aveva: New Launches
Table 231 Aveva: Deals
12.1.2 Sap
Table 232 Sap: Company Overview
Figure 49 Sap: Company Snapshot
Table 233 Sap: Product Offerings
Table 234 Sap: New Launches
Table 235 Sap: Deals
12.1.3 GE Digital
Table 236 GE Digital: Company Overview
Figure 50 General Electric: Company Snapshot
Table 237 GE Digital: Product Offerings
Table 238 GE Digital: New Launches
Table 239 GE Digital: Deals
12.1.4 Ibm
Table 240 Ibm: Company Overview
Figure 51 Ibm: Company Snapshot
Table 241 Ibm: Product and Solution Offerings
Table 242 Ibm: New Launches
Table 243 Ibm: Deals
12.1.5 Abb
Table 244 Abb: Company Overview
Figure 52 Abb: Company Snapshot
Table 245 Abb: Product and Solution Offerings
Table 246 Abb: New Launches
Table 247 Abb: Deals
12.1.6 Bentley Systems
Table 248 Bentley Systems: Company Overview
Figure 53 Bentley Systems: Company Snapshot
Table 249 Bentley Systems: Product and Service Offerings
Table 250 Bentley Systems: New Launches
Table 251 Bentley Systems: Deals
12.1.7 Emerson
Table 252 Emerson: Company Overview
Figure 54 Emerson: Company Snapshot
Table 253 Emerson: Product, Service, and Solution Offerings
Table 254 Emerson: New Launches
Table 255 Emerson: Deals
12.1.8 Fluke
Table 256 Fluke: Company Overview
Table 257 Fluke: Product and Solution Offerings
12.1.9 Rockwell Automation
Table 258 Rockwell Automation: Company Overview
Figure 55 Rockwell Automation: Company Snapshot
Table 259 Rockwell Automation: Product and Solution Offerings
Table 260 Rockwell Automation: New Launches
Table 261 Rockwell Automation: Deals
12.1.10 Dnv
Table 262 Dnv: Company Overview
Figure 56 Dnv: Company Snapshot
Table 263 Dnv: Product and Solution Offerings
12.2 Other Players
12.2.1 Siemens Energy
12.2.2 Hexagon
12.2.3 Sas
12.2.4 Arms Reliability
12.2.5 Nexus Global
12.2.6 Synopsys
12.2.7 Detechtion Technologies
12.2.8 Oracle
12.2.9 Yokogawa
12.2.10 Honeywell
12.2.11 Prometheus Group
12.2.12 Operational Sustainability
12.2.13 Ips Intelligent Process Solutions
12.2.14 Plasma
12.2.15 Upkeep
12.2.16 Fracttal
12.2.17 Microai [Former One Tech]
12.2.18 Metorapm
12.2.19 Vroc
12.2.20 Qualer
12.2.21 Maintainx
*Details on Business Overview, Products/Solutions Offered, Recent Developments, Analyst's View Might Not be Captured in Case of Unlisted Companies

13 Adjacent and Related Markets
13.1 Introduction
13.1.1 Related Markets
13.2 Digital Asset Management Market
Table 264 Digital Asset Management Market, by Component, 2019-2022 (USD Million)
Table 265 Digital Asset Management Market, by Component, 2023-2028 (USD Million)
Table 266 Digital Asset Management Market, by Business Function, 2019-2022 (USD Million)
Table 267 Digital Asset Management Market, by Business Function, 2023-2028 (USD Million)
Table 268 Digital Asset Management Market, by Deployment Type, 2019-2022 (USD Million)
Table 269 Digital Asset Management Market, by Deployment Type, 2023-2028 (USD Million)
Table 270 Digital Asset Management Market, by Organization Size, 2019-2022 (USD Million)
Table 271 Digital Asset Management Market, by Organization Size, 2023-2028 (USD Million)
Table 272 Digital Asset Management Market, by Vertical, 2019-2022 (USD Million)
Table 273 Digital Asset Management Market, by Vertical, 2023-2028 (USD Million)
Table 274 Digital Asset Management Market, by Region, 2019-2022 (USD Million)
Table 275 Digital Asset Management Market, by Region, 2023-2028 (USD Million)
13.3 Enterprise Asset Management Market
Table 276 Enterprise Asset Management Market Size, by Component, 2018-2021 (USD Million)
Table 277 Enterprise Asset Management Market Size, by Component, 2022-2027 (USD Million)
Table 278 Enterprise Asset Management Market Size, by Application, 2018-2021 (USD Million)
Table 279 Enterprise Asset Management Market Size, by Application, 2022-2027 (USD Million)
Table 280 Enterprise Asset Management Market, by Deployment Model, 2018-2021 (USD Million)
Table 281 Enterprise Asset Management Market, by Deployment Model, 2022-2027 (USD Million)
Table 282 Enterprise Asset Management Market, by Organization Size, 2018-2021 (USD Million)
Table 283 Enterprise Asset Management Market, by Organization Size, 2022-2027 (USD Million)
Table 284 Enterprise Asset Management Market, by Vertical, 2018-2021 (USD Million)
Table 285 Enterprise Asset Management Market, by Vertical, 2022-2027 (USD Million)
Table 286 Enterprise Asset Management Market, by Region, 2018-2021 (USD Million)
Table 287 Enterprise Asset Management Market, by Region, 2022-2027 (USD Million)

14 Appendix
14.1 Discussion Guide
14.2 Knowledgestore: The Subscription Portal
14.3 Customization Options

Executive Summary

Companies Mentioned

  • Abb
  • Arms Reliability
  • Aveva
  • Bentley Systems
  • Detechtion Technologies
  • Dnv
  • Emerson
  • Fluke
  • Fracttal
  • GE Digital
  • Hexagon
  • Honeywell
  • Ibm
  • Ips Intelligent Process Solutions
  • Maintainx
  • Metorapm
  • Microai [Former One Tech]
  • Nexus Global
  • Operational Sustainability
  • Oracle
  • Plasma
  • Prometheus Group
  • Qualer
  • Rockwell Automation
  • Sap
  • Sas
  • Siemens Energy
  • Synopsys
  • Upkeep
  • Vroc
  • Yokogawa

Methodology

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Table Information