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Global Asset Performance Management Market with COVID-19 Impact, by Component (Solutions (Asset Strategy, Asset Reliability, and Predictive Asset Management) and Services), Deployment Type, Organization Size, Vertical, and Region - Forecast to 2026

  • ID: 5397856
  • Report
  • July 2021
  • Region: Global
  • 285 Pages
  • Markets and Markets

FEATURED COMPANIES

  • Abb
  • Aveva
  • Emerson
  • Ibm
  • One Tech
  • Rockwell Automation

The publisher estimates the global asset performance management market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period, to reach USD 4.0 billion by 2026 from USD 2.5 billion in 2021. Key factors that are expected to drive the growth of the market are the rising demand to meet regulatory compliance and reporting standards across asset-centric organizations, growing need to manage assets efficiency, manage assets sustainability, and optimize total cost of ownership (TCO). These factors are driving the demand for asset performance management.

The COVID-19 Impact on the global asset performance management tools market
The pandemic has had a positive impact on the asset performance management market. The COVID-19 pandemic and the proliferation of remote work environments have created new complex barriers for businesses to overcome. The COVID-19 pandemic has reinforced the need for companies in the industrial sector to implement digital technologies and harness the power of data to ensure they remain operational. Asset performance management solutions integrate data about online and offline equipment to help organizations visualize plant performance, enhance workforce efficiency, and apply AI for predictive maintenance and resolution.

The services segment is expected to grow at a higher CAGR during the forecast period
Based on 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.

Chemicals industry vertical to hold the highest market share in 2021
Chemicals is one of the fastest-growing verticals with respect to the adoption of advanced technologies and services due to high maintenance and repair costs charged because of caustic substances and safety issues around hazardous chemical inventory. The continual expense of maintenance and the rising costs of materials have pushed various chemicals manufacturers into the process of finding bleeding-edge technology to control, maintain, and improve production. Asset performance management solutions prioritize works orders, automate inventory control, improve safety and compliance throughout the production plant, and build cost-saving preventive maintenance. In terms of a chemical plant, engineers will know when a component inside a reactor is wearing down before it fails.

APAC to grow at the highest CAGR during the forecast period
Asia Pacific has witnessed the advanced and dynamic adoption of new technologies and is projected to record the highest CAGR during the forecast period. In addition, the IT spending across organizations in the region is gradually increasing, which is projected to lead to a surge in the adoption of asset performance management software solutions. China, Japan, and India are the leading countries in terms of the adoption of asset performance management software solutions and services in the region. While the expenditure on technology solutions in APAC has increased, a setback is witnessed due to the recent COVID-19 pandemic. The COVID-19 pandemic makes it more urgent for business leaders across APAC to increase their rate of cloud adoption and digital transformation. Also, the current pandemic has forced the government and public sector across APAC to shift toward digital innovation and meet regulatory compliance standards, which is driving huge market opportunities for asset performance management vendors.

  • By Company: Tier 1-34%, Tier 2-43%, and Tier 3-23%
  • By Designation: C-Level Executives-50%, Director Level-30%, and Others-20%
  • By Region: North America-30%, Europe-30%, APAC-25%, MEA - 10%, and Latin America - 5%

The asset performance management market comprises major providers, such as AVEVA (UK), AspenTech (US), Bentley Systems (US), GE Digital (US), SAP (Germany), IBM (US), Detechtion Technologies (US), ARMS Reliability (US), ABB (Switzerland), Uptake (US), DNV (Norway), SAS (US), Siemens Energy (Germany), Oracle (US), Infor (US), Nexus Global (US), BISTel (South Korea), Operational Sustainability (US), Rockwell Automation (US), IPS Intelligent Process Solutions (Germany), Yokogawa (Japan), Honeywell (US), Emerson (US), GrayMatter (US), and Plasma (US). The study includes an in-depth competitive analysis of key players in the asset performance management market with their company profiles, recent developments, COVID-19 developments, and key market strategies.

Research Coverage

The report segments the global asset performance management market by component into two categories: solutions and services. By vertical, the asset performance management market has been classified into energy and utilities, manufacturing, government and defense, chemicals, healthcare and pharmaceuticals, telecommunications, consumer goods and food and beverages, and others (real estate, and transportation and logistics). By region, the market has been segmented into North America, Europe, APAC, MEA, and Latin America.

Key benefits of the report
The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall asset performance management market and the subsegments. This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report would help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, opportunities, and COVID-19 impact.

Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abb
  • Aveva
  • Emerson
  • Ibm
  • One Tech
  • Rockwell Automation

1 Introduction
1.1 Introduction to COVID-19
1.2 COVID-19 Health Assessment
Figure 1 COVID-19: Global Propagation
Figure 2 COVID-19 Propagation: Select Countries
1.3 COVID-19 Economic Assessment
Figure 3 Revised Gross Domestic Product Forecasts for Select G20 Countries in 2020
1.3.1 COVID-19 Economic Impact - Scenario Assessment
Figure 4 Criteria Impacting the Global Economy
Figure 5 Scenarios in Terms of Recovery of the Global Economy
1.4 Objectives of the Study
1.5 Market Definition
1.5.1 Inclusions and Exclusions
1.6 Market Scope
1.6.1 Market Segmentation
1.6.2 Regions Covered
1.6.3 Years Considered for the Study
1.7 Currency Considered
Table 1 United States Dollar Exchange Rate, 2018-2020
1.8 Stakeholders
1.9 Summary of Changes

2 Research Methodology
2.1 Research Data
Figure 6 Asset Performance Management Market: Research Design
2.1.1 Secondary Data
2.1.2 Primary Data
Table 2 Primary Interviews
2.1.2.1 Breakup of Primary Profiles
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
Figure 7 Data Triangulation
2.3 Market Size Estimation
Figure 8 Asset Performance Management Market: Top-Down and Bottom-Up Approaches
2.3.1 Top-Down Approach
Figure 9 Market Size Estimation Methodology - Approach 1 (Top-Down): Revenue of Vendors Offering Asset Performance Management Solutions and Services (1/2)
Figure 10 Market Size Estimation Methodology - Approach 1 (Top-Down): Revenue of Vendors Offering the Asset Performance Management System Solutions and Services (2/2)
Figure 11 Market Size Estimation Methodology - (Supply Side): CAGR Projections from the Supply Side
2.3.2 Bottom-Up Approach
Figure 12 Market Size Estimation Methodology - Approach 2, Bottom-Up (Supply Side): Collective Revenue from All Solutions/Services of the Asset Performance Management Market
Figure 13 Market Size Estimation Methodology - Approach 2, (Demand-Side): Asset Performance Management Revenue Generated from Verticals (2/2)
2.4 Market Revenue Estimation
Figure 14 Illustration of the Company's Asset Performance Management Revenue Estimation
2.5 Market Forecast
Table 3 Factor Analysis
2.6 Growth Forecast Assumptions
2.7 Company Evaluation Matrix Methodology
Figure 15 Company Evaluation Matrix: Criteria Weightage
2.8 Startup/Sme Evaluation Matrix Methodology
Figure 16 Startup/Sme Evaluation Matrix: Criteria Weightage
2.9 Assumptions for the Study
2.10 Limitations of the Study

3 Executive Summary
Figure 17 Asset Performance Management Market: Global Snapshot
Figure 18 Top-Growing Segments in the Market
Figure 19 Asset Strategy Management Segment to Hold the Largest Market Size During the Forecast Period
Figure 20 On-Premises Segment to Hold a Larger Market Size During the Forecast Period
Figure 21 Top Verticals in the Market
Figure 22 Market: Regional Snapshot

4 Premium Insights
4.1 Attractive Growth Opportunities in the Asset Performance Management Market
Figure 23 Focus on Improving Customer Experience and Simplifying Information Technology Operations Workflow to Drive the Adoption of the Asset Performance Management
4.2 Market, by Solution, 2021 Vs. 2026
Figure 24 Asset Strategy Management Segment to Hold the Largest Market Share During the Forecast Period
4.3 Market, by Deployment Type, 2021
Figure 25 On-Premises Segment to Hold a Larger Market Share in 2021
4.4 Market, by Organization Size, 2021
Figure 26 Large Enterprises Segment to Hold a Larger Market Share in 2021
4.5 Market, by Vertical, 2021 Vs. 2026
Figure 27 Energy and Utilities Vertical to Hold the Largest Market Share During the Forecast Period
4.6 Market: Regional Scenario, 2021-2026
Figure 28 Asia-Pacific to Emerge as Best Market for Investments in Next Five Years

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
Figure 29 Drivers, Restraints, Opportunities, and Challenges: Asset Performance Management Market
5.2.1 Drivers
5.2.1.1 Rising Demand to Meet Regulatory Compliance and Reporting Standards Across Asset-Centric Organizations
5.2.1.2 Growing Need to Manage Assets Efficiency, Manage Assets Sustainability, and Optimize Total Cost of Ownership
Figure 30 Major Benefits Driving the Market
5.2.1.3 Compelling Need to Make Informed Business Decisions with Predictive Asset Maintenance
Figure 31 Top Asset Performance Management Vendors Rapidly Climbing to More Mature Levels
5.2.1.4 Increased Digital Workforce and Reliability Culture
5.2.1.5 Growing Need to Optimize Asset Performance Management Strategy with a 360-Degree View of Asset Performance
5.2.2 Restraints
5.2.2.1 Concerns Over Data Security and Confidentiality
5.2.2.2 Impact of Stringent Government Rules and Regulations
5.2.3 Opportunities
5.2.3.1 Need for Extending the Life Span of Assets with the Help of Advanced Technologies
5.2.3.2 Growing Inclination Toward the Adoption of a 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 Create User Adoption Process
5.2.4.2 Difficulties with Integration and Implementation of Asset Performance Management with Current Applications
5.3 Case Study Analysis
5.3.1 Case Study 1: Tata Power
5.3.2 Case Study 2: Oman Gas Company
5.3.3 Case Study 3: Nova Scotia Power
5.4 Porter's Five Forces Analysis
Table 4 Porter's Five Forces Analysis: Asset Performance Management Market
Figure 32 Porter's Five Forces Analysis: Market
5.4.1 Threat of New Entrants
5.4.2 Threat of Substitutes
5.4.3 Bargaining Power of Suppliers
5.4.4 Bargaining Power of Buyers
5.4.5 Intensity of Competitive Rivalry
5.5 COVID-19-Driven Market Dynamics
5.5.1 Drivers and Opportunities
5.5.2 Restraints and Challenges
5.6 Technological Outlook
5.6.1 Cloud/Software as a Service
5.6.2 Artificial Intelligence
5.6.3 Machine Learning
5.6.4 IoT Technology
5.6.5 Augmented Reality
5.7 Pricing Analysis
Table 5 Asset Performance Management Market: Pricing Levels
5.8 Value Chain Analysis
Figure 33 Market: Value Chain
5.9 Ecosystem
Table 6 Asset Performance Management: Ecosystem
Figure 34 Market: Ecosystem
5.10 Regulatory Implications and Industry Standards
5.10.1 General Data Protection Regulation
5.10.2 Occupational Safety and Health Administration
5.10.3 Health Insurance Portability and Accountability Act of 1996
5.10.4 Security in a Cloud Computing Environment
5.11 Patent Analysis
Table 7 Market: Patents
Table 8 Top 10 Patent Owners (Us)
Figure 35 Top 10 Companies with Highest Number of Patents
5.12 Revenue Shift - Yc/Ycc Shift
Figure 36 Market: Yc/Ycc Shift

6 Asset Performance Management Market, by Component
6.1 Introduction
6.1.1 Components: Market Drivers
6.1.2 Components: COVID-19 Impact
Figure 37 Services Segment to Grow at a Higher CAGR During the Forecast Period
Table 9 Market Size, by Component, 2016-2020 (USD Million)
Table 10 Market Size, by Component 2021-2026 (USD Million)
6.2 Solutions
Figure 38 Predictive Asset Management Segment to Grow at the Highest CAGR During the Forecast Period
Table 11 Market Size, by Solution, 2016-2020 (USD Million)
Table 12 Asset Performance Management Market Size, by Solution 2021-2026 (USD Million)
6.2.1 Asset Strategy Management
6.2.1.1 Rising Focus on Gaining a High Return on Asset to Increase the Demand for Asset Strategy Management Solutions
Table 13 Asset Strategy Management: Market Size, by Region, 2016-2020 (USD Million)
Table 14 Asset Strategy Management: Market Size, by Region, 2021-2026 (USD Million)
6.2.2 Asset Reliability Management
6.2.2.1 Need to Increase Production Levels, Provide Worker Safety, and Achieve On-Time Customer Deliveries to Create High Demand for the Asset Reliability Management Solution
Table 15 Asset Reliability Management: Asset Performance Management Market Size, by Region, 2016-2020 (USD Million)
Table 16 Asset Reliability Management: Market Size, by Region, 2021-2026 (USD Million)
6.2.3 Predictive Asset Management
6.2.3.1 Predictive Asset Management Solutions Help Organizations Maintain Their Critical Assets Efficiently to Drive Their Demand in Coming Years
Table 17 Predictive Asset Management: Market Size, by Region, 2016-2020 (USD Million)
Table 18 Predictive Asset Management: Market Size, by Region, 2021-2026 (USD Million)
6.2.4 Other Solutions
Table 19 Other Solutions: Market Size, by Region, 2016-2020 (USD Million)
Table 20 Other Solutions: Asset Performance Management Market Size, by Region, 2021-2026 (USD Million)
6.3 Services
Figure 39 Managed Services Segment to Grow at a Higher CAGR During the Forecast Period
Table 21 Market Size, by Service, 2016-2020 (USD Million)
Table 22 Market Size, by Service, 2021-2026 (USD Million)
6.3.1 Professional Services
6.3.1.1 Provision of Support and Maintenance Services to Fuel the Demand for Professional Services
Figure 40 Implementation and Integration Segment to Grow at the Highest CAGR During the Forecast Period
Table 23 Market Size, by Professional Service, 2016-2020 (USD Million)
Table 24 Market Size, by Professional Service, 2021-2026 (USD Million)
Table 25 Professional Services: Asset Performance Management Market Size, by Region, 2016-2020 (USD Million)
Table 26 Professional Services: Market Size, by Region, 2021-2026 (USD Million)
6.3.1.2 Implementation and Integration
Table 27 Implementation and Integration: Market Size, by Region, 2016-2020 (USD Million)
Table 28 Implementation and Integration: Market Size, by Region, 2021-2026 (USD Million)
6.3.1.3 Consulting
Table 29 Consulting: Market Size, by Region, 2016-2020 (USD Million)
Table 30 Consulting: Market Size, by Region, 2021-2026 (USD Million)
6.3.1.4 Support and Maintenance
Table 31 Support and Maintenance: Market Size, by Region, 2016-2020 (USD Million)
Table 32 Support and Maintenance: Market Size, by Region, 2021-2026 (USD Million)
6.3.2 Managed Services
6.3.2.1 Better Cost Control, Improved Risk Management, and High Organizational Availability are the Few Benefits of Managed Services Leading to Their Increased Adoption During the Forecast Period
Table 33 Managed Services: Market Size, by Region, 2016-2020 (USD Million)
Table 34 Managed Services: Market Size, by Region, 2021-2026 (USD Million)

7 Asset Performance Management Market, by Organization Size
7.1 Introduction
7.1.1 Organization Size: Market Drivers
7.1.2 Organization Size: COVID-19 Impact
Figure 41 Small and Medium-Sized Enterprises Segment to Grow at a Higher CAGR During the Forecast Period
Table 35 Market Size, by Organization Size, 2016-2020 (USD Million)
Table 36 Market Size, by Organization Size, 2021-2026 (USD Million)
7.2 Large Enterprises
7.2.1 Requirement of Equipment Health Monitoring, Asset Strategy Optimization, Management of Alerts, and Compliance Create a Demand for Asset Management Solutions Across Large Enterprises
Table 37 Large Enterprises: Market Size, by Region, 2016-2020 (USD Million)
Table 38 Large Enterprises: Asset Performance Management Market Size, by Region, 2021-2026 (USD Million)
7.3 Small and Medium-Sized Enterprises
7.3.1 to Design Proactive, Preventive, and Corrective Maintenance Strategies, Small and Medium-Sized Enterprises Adopt Asset Performance Management Solutions
Table 39 Small and Medium-Sized Enterprises: Market Size, by Region, 2016-2020 (USD Million)
Table 40 Small and Medium-Sized Enterprises: Market Size, by Region, 2021-2026 (USD Million)

8 Asset Performance Management Market, by Deployment Type
8.1 Introduction
8.1.1 Deployment Types: Market Drivers
8.1.2 Deployment Types: COVID-19 Impact
Figure 42 Cloud Segment to Grow at a Higher CAGR During the Forecast Period
Table 41 Asset Performance Management Size, by Deployment Type, 2016-2020 (USD Million)
Table 42 Asset Performance Management Size, by Deployment Type, 2021-2026 (USD Million)
8.2 On-Premises
8.2.1 Companies with Large Budgets and Teams Drive On-Premises Deployment Adoption to Overcome Security Concerns Over Sensitive Data
Table 43 On-Premises: Asset Performance Management Size, by Region, 2016-2020 (USD Million)
Table 44 On-Premises: Catalog Management System Size, by Region, 2021-2026 (USD Million)
8.3 Cloud
8.3.1 Cost-Effectiveness, Easy Access, and Scalability to Boost the Adoption of Cloud Asset Performance Management Solutions
Table 45 Cloud: Asset Performance Management Size, by Region, 2016-2020 (USD Million)
Table 46 Cloud: Asset Performance Management Size, by Region, 2021-2026 (USD Million)

9 Asset Performance Management Market, by Vertical
9.1 Introduction
9.1.1 Verticals: Market Drivers
9.1.2 Verticals: COVID-19 Impact
Figure 43 Chemicals Vertical to Grow at the Highest CAGR During the Forecast Period
Table 47 Market Size, by Vertical, 2016-2020 (USD Million)
Table 48 Market Size, by Vertical, 2021-2026 (USD Million)
9.2 Energy and Utilities
Table 49 Energy and Utilities: Market Size, by Region, 2016-2020 (USD Million)
Table 50 Energy and Utilities: Market Size, by Region, 2021-2026 (USD Million)
9.3 Manufacturing
9.3.1 Rapid Digital Transformation and Deployment of Ai and IIoT Within a Process Manufacturing Environment to Accelerate the Adoption of Asset Performance Management Solutions Across the Vertical
Table 51 Manufacturing: Asset Performance Management Market Size, by Region, 2016-2020 (USD Million)
Table 52 Manufacturing: Market Size, by Region, 2021-2026 (USD Million)
9.4 Government and Defense
9.4.1 Growing Need to Manage and Track a Large Fleet of Assets in Real-Time and Reduce the Mission Asset Downtime to Boost the Adoption of Asset Performance Management Solutions Across the Vertical
Table 53 Government and Defense: Market Size, by Region, 2016-2020 (USD Million)
Table 54 Government and Defense: Market Size, by Region, 2021-2026 (USD Million)
9.5 Chemicals
9.5.1 High Maintenance and Repair Costs due to Caustic Substances and Safety Issues Around Hazardous Chemical Inventory to Drive the Adoption of Asset Performance Management Solutions Across the Vertical
Table 55 Chemicals: Market Size, by Region, 2016-2020 (USD Million)
Table 56 Chemicals: Market Size, by Region, 2021-2026 (USD Million)
9.6 Telecommunications
9.6.1 Ability of Asset Performance Management Solutions to Visualize Complex Networks and Optimize Asset Operations to Drive Their Adoption Across the Vertical
Table 57 Telecommunications: Asset Performance Management Market Size, by Region, 2016-2020 (USD Million)
Table 58 Telecommunications: Market Size, by Region, 2021-2026 (USD Million)
9.7 Healthcare and Pharmaceuticals
9.7.1 Growing Need to Leverage Asset Data to Control Health Equipment Downtime, Enhance the Patient Experience, and Stick to the Regulatory Framework to Meet Compliance Standards Drive the Adoption of Asset Performance Management Solutions Across the Vertical
Table 59 Healthcare and Pharmaceuticals: Market Size, by Region, 2016-2020 (USD Million)
Table 60 Healthcare and Pharmaceuticals: Market Size, by Region, 2021-2026 (USD Million)
9.8 Consumer Goods, and Food and Beverages
9.8.1 Rapid Digital Transformation and Need to Manage Enormous Volumes of Assets and Inventory to Optimize the Supply Chain to Accelerate the Adoption of Asset Performance Management Solutions Across the Vertical
Table 61 Consumer Goods, and Food and Beverages: Asset Performance Management Market Size, by Region, 2016-2020 (USD Million)
Table 62 Consumer Goods, and Food and Beverages: Market Size, by Region, 2021-2026 (USD Million)
9.9 Other Verticals
Table 63 Other Verticals: Market Size, by Region, 2016-2020 (USD Million)
Table 64 Other Verticals: Market Size, by Region, 2021-2026 (USD Million)

10 Asset Performance Management Market, by Region
10.1 Introduction
Figure 44 Asia-Pacific to Grow at the Highest CAGR During the Forecast Period
Table 65 Market Size, by Region, 2016-2020 (USD Million)
Table 66 Market Size, by Region, 2021-2026 (USD Million)
10.2 North America
10.2.1 North America: Market Drivers
10.2.2 North America: COVID-19 Impact
10.2.3 North America: Regulatory Landscape
Figure 45 North America: Market Snapshot
Table 67 North America: Asset Performance Management Market Size, by Component, 2016-2020 (USD Million)
Table 68 North America: Market Size, by Component, 2021-2026 (USD Million)
Table 69 North America: Market Size, by Solution, 2016-2020 (USD Million)
Table 70 North America: Market Size, by Solution, 2021-2026 (USD Million)
Table 71 North America: Market Size, by Service, 2016-2020 (USD Million)
Table 72 North America: Market Size, by Service, 2021-2026 (USD Million)
Table 73 North America: Market Size, by Professional Service, 2016-2020 (USD Million)
Table 74 North America: Market Size, by Professional Service, 2021-2026 (USD Million)
Table 75 North America: Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 76 North America: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 77 North America: Asset Performance Management Market Size, by Organization Size, 2016-2020 (USD Million)
Table 78 North America: Market Size, by Organization Size, 2021-2026 (USD Million)
Table 79 North America: Market Size, by Vertical, 2016-2020 (USD Million)
Table 80 North America: Market Size, by Vertical, 2021-2026 (USD Million)
Table 81 North America: Market Size, by Country, 2016-2020 (USD Million)
Table 82 North America: Market Size, by Country, 2021-2026 (USD Million)
10.2.4 United States
10.2.4.1 Rising Adoption of Advanced Digital Technologies to Enhance Reliability, Performance, and Safety of Industrial Assets to Drive the Adoption of Asset Performance Management Solutions
Table 83 United States: Asset Performance Management Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 84 United States: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 85 United States: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 86 United States: Market Size, by Organization Size, 2021-2026 (USD Million)
10.2.5 Canada
10.2.5.1 Rising Adoption of Cloud Across Asset-Centric Organizations to Boost the Growth of the Asset Performance Management Market in Canada
Table 87 Canada: Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 88 Canada: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 89 Canada: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 90 Canada: Market Size, by Organization Size, 2021-2026 (USD Million)
10.3 Europe
10.3.1 Europe: Market Drivers
10.3.2 Europe: COVID-19 Impact
10.3.3 Europe: Regulatory Landscape
Table 91 Europe: Asset Performance Management Market Size, by Component, 2016-2020 (USD Million)
Table 92 Europe: Market Size, by Component, 2021-2026 (USD Million)
Table 93 Europe: Market Size, by Solution, 2016-2020 (USD Million)
Table 94 Europe: Market Size, by Solution, 2021-2026 (USD Million)
Table 95 Europe: Market Size, by Service, 2016-2020 (USD Million)
Table 96 Europe: Market Size, by Service, 2021-2026 (USD Million)
Table 97 Europe: Market Size, by Professional Service, 2016-2020 (USD Million)
Table 98 Europe: Market Size, by Professional Service, 2021-2026 (USD Million)
Table 99 Europe: Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 100 Europe: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 101 Europe: Asset Performance Management Market Size, by Organization Size, 2016-2020 (USD Million)
Table 102 Europe: Market Size, by Organization Size, 2021-2026 (USD Million)
Table 103 Europe: Market Size, by Vertical, 2016-2020 (USD Million)
Table 104 Europe: Market Size, by Vertical, 2021-2026 (USD Million)
Table 105 Europe: Market Size, by Country, 2016-2020 (USD Million)
Table 106 Europe: Market Size, by Country, 2021-2026 (USD Million)
10.3.4 United Kingdom
10.3.4.1 Rising Technology Adoption and Increasing Demand for Robust Solutions to Enhance the Organization's Performance and Increase Operational Efficiency to Drive the Adoption of Asset Performance Management Solutions in the UK
Table 107 United Kingdom: Asset Performance Management Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 108 United Kingdom: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 109 United Kingdom: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 110 United Kingdom: Market Size, by Organization Size, 2021-2026 (USD Million)
10.3.5 Germany
10.3.5.1 Growing Need to Streamline Maintenance Operations to Achieve a Higher Return on Assets and Rising Adoption of Industry 4.0 Technologies to Create the Demand for Asset Performance Management in Germany
Table 111 Germany: Asset Performance Management Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 112 Germany: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 113 Germany: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 114 Germany: Market Size, by Organization Size, 2021-2026 (USD Million)
10.3.6 France
10.3.6.1 Availability of Highly Skilled Asset Performance Management Professionals Contributing to the Growth of the Market in France
Table 115 France: Asset Performance Management Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 116 France: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 117 France: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 118 France: Market Size, by Organization Size, 2021-2026 (USD Million)
10.3.7 Rest of Europe
Table 119 Rest of Europe: Asset Performance Management Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 120 Rest of Europe: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 121 Rest of Europe: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 122 Rest of Europe: Market Size, by Organization Size, 2021-2026 (USD Million)
10.4 Asia-Pacific
10.4.1 Asia-Pacific: Market Drivers
10.4.2 Asia-Pacific: COVID-19 Impact
10.4.3 Asia-Pacific: Regulatory Landscape
Figure 46 Asia-Pacific: Market Snapshot
Table 123 Asia-Pacific: Asset Performance Management Market Size, by Component, 2016-2020 (USD Million)
Table 124 Asia-Pacific: Market Size, by Component, 2021-2026 (USD Million)
Table 125 Asia-Pacific: Market Size, by Solution, 2016-2020 (USD Million)
Table 126 Asia-Pacific: Market Size, by Solution, 2021-2026 (USD Million)
Table 127 Asia-Pacific: Market Size, by Service, 2016-2020 (USD Million)
Table 128 Asia-Pacific: Market Size, by Service, 2021-2026 (USD Million)
Table 129 Asia-Pacific: Market Size, by Professional Service, 2016-2020 (USD Million)
Table 130 Asia-Pacific: Market Size, by Professional Service, 2021-2026 (USD Million)
Table 131 Asia-Pacific: Asset Performance Management Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 132 Asia-Pacific: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 133 Asia-Pacific: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 134 Asia-Pacific: Market Size, by Organization Size, 2021-2026 (USD Million)
Table 135 Asia-Pacific: Market Size, by Vertical, 2016-2020 (USD Million)
Table 136 Asia-Pacific: Market Size, by Vertical, 2021-2026 (USD Million)
Table 137 Asia-Pacific: Market Size, by Country, 2016-2020 (USD Million)
Table 138 Asia-Pacific: Market Size, by Country, 2021-2026 (USD Million)
10.4.4 China
10.4.4.1 Increased Adoption of New Technologies, Such as Iiot, Mobile, and Cloud, to Drive the Demand for Asset Performance Management Solutions Across Industries in China
Table 139 China: Asset Performance Management Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 140 China: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 141 China: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 142 China: Market Size, by Organization Size, 2021-2026 (USD Million)
10.4.5 Japan
10.4.5.1 Enterprises’ Shift Toward Digital Transformation, Focus on Lowering Tco, and Reduce the Risk of Unplanned Downtime of Mission-Critical Assets to Drive the Adoption of Asset Performance Management in Japan
Table 143 Japan: Asset Performance Management Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 144 Japan: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 145 Japan: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 146 Japan: Market Size, by Organization Size, 2021-2026 (USD Million)
10.4.6 India
10.4.6.1 Ongoing Digital Transformation and Adoption of Industry 4.0 Technologies to Boost the Growth of Asset Performance Management Solutions in India
Table 147 India: Asset Performance Management Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 148 India: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 149 India: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 150 India: Market Size, by Organization Size, 2021-2026 (USD Million)
10.4.7 Rest of Asia-Pacific
Table 151 Rest of Asia-Pacific: Asset Performance Management Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 152 Rest of Asia-Pacific: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 153 Rest of Asia-Pacific: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 154 Rest of Asia-Pacific: Market Size, by Organization Size, 2021-2026 (USD Million)
10.5 Middle East and Africa
10.5.1 Middle East and Africa: Market Drivers
10.5.2 Middle East and Africa: COVID-19 Impact
10.5.3 Middle East and Africa: Regulatory Landscape
Table 155 Middle East and Africa: Asset Performance Management Market Size, by Component, 2016-2020 (USD Million)
Table 156 Middle East and Africa: Market Size, by Component, 2021-2026 (USD Million)
Table 157 Middle East and Africa: Market Size, by Solution, 2016-2020 (USD Million)
Table 158 Middle East and Africa: Market Size, by Solution, 2021-2026 (USD Million)
Table 159 Middle East and Africa: Market Size, by Service, 2016-2020 (USD Million)
Table 160 Middle East and Africa: Market Size, by Service, 2021-2026 (USD Million)
Table 161 Middle East and Africa: Market Size, by Professional Service, 2016-2020 (USD Million)
Table 162 Middle East and Africa: Market Size, by Professional Service, 2021-2026 (USD Million)
Table 163 Middle East and Africa: Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 164 Middle East and Africa: Asset Performance Management Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 165 Middle East and Africa: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 166 Middle East and Africa: Market Size, by Organization Size, 2021-2026 (USD Million)
Table 167 Middle East and Africa: Market Size, by Vertical, 2016-2020 (USD Million)
Table 168 Middle East and Africa: Market Size, by Vertical, 2021-2026 (USD Million)
Table 169 Middle East and Africa: Market Size, by Country, 2016-2020 (USD Million)
Table 170 Middle East and Africa: Market Size, by Country, 2021-2026 (USD Million)
10.5.4 Kingdom of Saudi Arabia
10.5.4.1 Stringent Regulatory Framework and Compliance Standards to Boost the Growth of the Asset Performance Management Market in Ksa
Table 171 Kingdom of Saudi Arabia: Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 172 Kingdom of Saudi Arabia: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 173 Kingdom of Saudi Arabia: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 174 Kingdom of Saudi Arabia: Market Size, by Organization Size, 2021-2026 (USD Million)
10.5.5 United Arab Emirates
10.5.5.1 Rising Need to Make Informed Business Decisions with Predictive and Prescriptive Analytics Tends to Drive the Asset Performance Management Market in the UAE
Table 175 United Arab Emirates: Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 176 United Arab Emirates: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 177 United Arab Emirates: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 178 United Arab Emirates: Market Size, by Organization Size, 2021-2026 (USD Million)
10.5.6 South Africa
10.5.6.1 Large Untapped Market Looking Forward to Adopting Asset Performance Management Solutions to Drive Higher Roa with Proactive and Predictive Approach to Fuel the Asset Performance Management Market Growth in South Africa
Table 179 South Africa: Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 180 South Africa: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 181 South Africa: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 182 South Africa: Market Size, by Organization Size, 2021-2026 (USD Million)
10.5.7 Rest of Middle East and Africa
Table 183 Rest of Middle East and Africa: Asset Performance Management Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 184 Rest of Middle East and Africa: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 185 Rest of Middle East and Africa: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 186 Rest of Middle East and Africa: Market Size, by Organization Size, 2021-2026 (USD Million)
10.6 Latin America
10.6.1 Latin America: Market Drivers
10.6.2 Latin America: COVID-19 Impact
10.6.3 Latin America: Regulatory Landscape
Table 187 Latin America: Asset Performance Management Market Size, by Component, 2016-2020 (USD Million)
Table 188 Latin America: Market Size, by Component, 2021-2026 (USD Million)
Table 189 Latin America: Market Size, by Solution, 2016-2020 (USD Million)
Table 190 Latin America: Market Size, by Solution, 2021-2026 (USD Million)
Table 191 Latin America: Market Size, by Service, 2016-2020 (USD Million)
Table 192 Latin America: Market Size, by Service, 2021-2026 (USD Million)
Table 193 Latin America: Market Size, by Professional Service, 2016-2020 (USD Million)
Table 194 Latin America: Market Size, by Professional Service, 2021-2026 (USD Million)
Table 195 Latin America: Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 196 Latin America: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 197 Latin America: Asset Performance Management Market Size, by Organization Size, 2016-2020 (USD Million)
Table 198 Latin America: Market Size, by Organization Size, 2021-2026 (USD Million)
Table 199 Latin America: Market Size, by Vertical, 2016-2020 (USD Million)
Table 200 Latin America: Market Size, by Vertical, 2021-2026 (USD Million)
Table 201 Latin America: Market Size, by Country, 2016-2020 (USD Million)
Table 202 Latin America: Market Size, by Country, 2021-2026 (USD Million)
10.6.4 Brazil
10.6.4.1 Rapid Digital Transformation Initiatives and the Need to Manage Enterprise Asset Performance Tends to Fuel the Adoption of Asset Performance Management Solutions in Brazil
Table 203 Brazil: Asset Performance Management Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 204 Brazil: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 205 Brazil: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 206 Brazil: Market Size, by Organization Size, 2021-2026 (USD Million)
10.6.5 Mexico
10.6.5.1 Rising Adoption and Deployment of Asset Performance Management Tools Across Oil and Gas, and Energy and Utilities Industries to Boost the Market in Mexico
Table 207 Mexico: Asset Performance Management Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 208 Mexico: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 209 Mexico: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 210 Mexico: Market Size, by Organization Size, 2021-2026 (USD Million)
10.6.6 Rest of Latin America
Table 211 Rest of Latin America: Market Size, by Deployment Type, 2016-2020 (USD Million)
Table 212 Rest of Latin America: Market Size, by Deployment Type, 2021-2026 (USD Million)
Table 213 Rest of Latin America: Market Size, by Organization Size, 2016-2020 (USD Million)
Table 214 Rest of Latin America: Asset Performance Management Market Size, by Organization Size, 2021-2026 (USD Million)

11 Competitive Landscape
11.1 Introduction
11.2 Market Share of Top Vendors
Table 215 Asset Performance Management: Degree of Competition
Figure 47 Market Share Analysis of Companies in the Asset Performance Management Market
11.3 Key Player Strategies/Right to Win
11.3.1 Overview of Strategies Adopted by Key Asset Performance Management Vendors
11.4 Historical Revenue Analysis of Top Vendors
Figure 48 Historical Five-Year Revenue Analysis of Leading Players in the Asset Performance Management Market, 2016-2020
11.5 Company Evaluation Quadrant, 2021
11.5.1 Definitions and Methodology
Table 216 Company Evaluation Quadrant: Criteria
11.5.2 Star
11.5.3 Emerging Leader
11.5.4 Pervasive
11.5.5 Participant
Figure 49 Asset Performance Management Market (Global): Company Evaluation Quadrant, 2021
Table 217 Company Product Footprint
Table 218 Company Industry Footprint
Table 219 Company Region Footprint
11.6 Smes/Startup Evaluation Quadrant
11.6.1 Definitions and Methodology
Table 220 Sme Evaluation Quadrant: Criteria
11.6.2 Progressive Companies
11.6.3 Responsive Companies
11.6.4 Dynamic Companies
11.6.5 Starting Blocks
Figure 50 Asset Performance Management Market (Global): Startup/Sme Evaluation Quadrant, 2021
11.7 Competitive Scenario
Table 221 Asset Performance Management: New Launches, November 2019-May 2021
Table 222 Asset Performance Management: Deals, March 2020-July 2021

12 Company Profiles
12.1 Major Players
(Business Overview, Recent Developments, COVID-19 Developments, Analyst's View)*
12.1.1 Aveva
Table 223 Aveva: Business Overview
Figure 51 Aveva: Company Snapshot
Table 224 Aveva: Product and Solution Offerings
Table 225 Aveva: Asset Performance Management Market: New Launches
Table 226 Aveva: Market: Deals
12.1.2 Aspentech
Table 227 Aspentech: Business Overview
Figure 52 Aspentech: Company Snapshot
Table 228 Aspentech: Product Offerings
Table 229 Aspentech: Market: New Launches
Table 230 Aspentech: Market: Deals
12.1.3 Bentley Systems
Table 231 Bentley Systems: Business Overview
Figure 53 Bentley Systems: Company Snapshot
Table 232 Bentley Systems: Product and Service Offerings
Table 233 Bentley Systems: Asset Performance Management Market: New Launches
Table 234 Bentley Systems: Market: Deals
12.1.4 GE Digital
Table 235 GE Digital: Business Overview
Figure 54 General Electric: Company Snapshot
Table 236 GE Digital: Product Offerings
Table 237 GE Digital: Market: New Launches
Table 238 GE Digital: Market: Deals
12.1.5 Sap
Table 239 Sap: Business Overview
Figure 55 Sap: Company Snapshot
Table 240 Sap: Product Offerings
Table 241 Sap: Asset Performance Management Market: New Launches
Table 242 Sap: Market: Deals
12.1.6 Ibm
Table 243 Ibm: Business Overview
Figure 56 Ibm: Company Snapshot
Table 244 Ibm: Product and Solution Offerings
Table 245 Ibm: Market: New Launches
Table 246 Ibm: Market: Deals
12.1.7 Detechtion Technologies
Table 247 Detechtion Technologies: Business Overview
Table 248 Detechtion Technologies: Product Offerings
Table 249 Detechtion Technologies: Asset Performance Management Market: New Launches
Table 250 Detechtion Technologies: Market: Deals
12.1.8 Arms Reliability
Table 251 Arms Reliability: Business Overview
Table 252 Arms Reliability: Product Offerings
Table 253 Arms Reliability: Market: New Launches
12.1.9 Abb
Table 254 Abb: Business Overview
Figure 57 Abb: Company Snapshot
Table 255 Abb: Product and Solution Offerings
Table 256 Abb: Market: New Launches
Table 257 Abb: Asset Performance Management Market: Deals
12.1.10 Uptake
Table 258 Uptake: Business Overview
Table 259 Uptake: Product Offerings
Table 260 Uptake: Market: New Launches
Table 261 Uptake: Market: Deals
*Details on Business Overview, Recent Developments, COVID-19 Developments, Analyst's View Might Not be Captured in Case of Unlisted Companies.
12.2 Other Vendors
12.2.1 Dnv
12.2.2 Sas
12.2.3 Siemens Energy
12.2.4 Oracle
12.2.5 Infor
12.2.6 Nexus Global
12.2.7 Bistel
12.2.8 Operational Sustainability
12.2.9 Rockwell Automation
12.2.10 Ips Intelligent Process Solutions
12.2.11 Yokogawa
12.2.12 Honeywell
12.2.13 Emerson
12.2.14 Graymatter
12.2.15 Plasma
12.3 Startup/Sme Players
12.3.1 Upkeep
12.3.2 Fracttal
12.3.3 Atonix Digital
12.3.4 Urbint
12.3.5 One Tech
12.3.6 Metorapm
12.3.7 Vroc
12.3.8 Arbox Renewable Energy
12.3.9 Qualer
12.3.10 Maintainx

13 Adjacent Market
13.1 Introduction
13.1.1 Related Market
13.1.2 Limitations
13.2 Enterprise Asset Management Market
Table 262 Enterprise Asset Management Market Size, by Vertical, 2016-2019 (USD Million)
Table 263 Enterprise Asset Management Market Size, by Vertical, 2020-2026 (USD Million)
Table 264 Manufacturing: Enterprise Asset Management Market Size, by Region, 2016-2019 (USD Million)
Table 265 Manufacturing: Enterprise Asset Management Market Size, by Region, 2020-2026 (USD Million)
Table 266 Energy and Utilities: Enterprise Asset Management Market Size, by Region, 2016-2019 (USD Million)
Table 267 Energy and Utilities: Enterprise Asset Management Market Size, by Region, 2020-2026 (USD Million)
Table 268 Healthcare and Life Sciences: Enterprise Asset Management Market Size, by Region, 2016-2019 (USD Million)
Table 269 Healthcare and Life Sciences: Enterprise Asset Management Market Size, by Region, 2020-2026 (USD Million)
13.3 Remote Asset Management Market
Table 270 Remote Asset Management Market Size, by Vertical, 2018-2025 (USD Million)
Table 271 Manufacturing: Remote Asset Management Market Size, by Region, 2018-2025 (USD Million)
Table 272 Healthcare: Remote Asset Management Market Size, by Region, 2018-2025 (USD Million)
Table 273 Retail: Remote Asset Management Market Size, by Region, 2018-2025 (USD Million)
Table 274 Energy and Utilities: Remote Asset Management Market Size, by Region, 2018-2025 (USD Million)

14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: The Subscription Portal
14.3 Available Customizations

Note: Product cover images may vary from those shown
  • Abb
  • Arbox Renewable Energy
  • Arms Reliability
  • Aspentech
  • Atonix Digital
  • Aveva
  • Bentley Systems
  • Bistel
  • Detechtion Technologies
  • Dnv
  • Emerson
  • Fracttal
  • GE Digital
  • Graymatter
  • Honeywell
  • Ibm
  • Infor
  • Ips Intelligent Process Solutions
  • Maintainx
  • Metorapm
  • Nexus Global
  • One Tech
  • Operational Sustainability
  • Oracle
  • Other Vendors
  • Plasma
  • Qualer
  • Rockwell Automation
  • Sap
  • Sas
  • Siemens Energy
  • Startup/Sme Players
  • Upkeep
  • Uptake
  • Urbint
  • Vroc
  • Yokogawa
Note: Product cover images may vary from those shown

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