The Asia Pacific Asset Performance Management Market would witness market growth of 10.3% CAGR during the forecast period (2019-2025). Asset performance management systems can encourage asset-intensive industry companies to address, various issues related to environmental risks, worker safety risks, higher maintenance and operating costs, and dysfunctional decision making. Increased popularity of digital asset performance management solutions and the future convergence of industrial internet of things (IIoT) and digital twin technology with asset performance management systems have come together. This collective force has improved the overall benefits of asset performance management systems, which has been projected to contribute greatly to market growth over the forecast period. In order to provide equipment efficiency, the advanced asset performance management solutions commercially available have been incorporating IIoT.
Asset Performance Management (APM), through powerful analytics and artificial intelligence, enhances the structure of Enterprise Asset Management (EAM). At the point of action, APM offers guidance to eliminate unplanned repair work, increase the availability of resources, reduce costs, and minimize the risk of breakdown of assets. APM provides a comprehensive view of organizational resources by incorporating various data sources, including EAM record systems and IoT data.
Based on Category, the market is segmented into Asset Reliability Management, Asset Strategy Management, Predictive Asset Management and Others. Based on Deployment Type, the market is segmented into On-premise and Hosted. Based on Vertical, the market is segmented into Energy & Utilities, Oil & Gas, Manufacturing, Mining & Metal, Government & Public Sector, Chemicals & Pharmaceutical and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, IBM Corporation, General Electric (GE) Co., SAP SE, Schneider Electric SE (Schneider Electric Software LLC), Siemens AG, Nexus Global Business Solutions, Inc., Aspen Technology, Inc., Bentley Systems, Inc. and SAS Institute, Inc.
Market Segmentation:
By Category
By Deployment Type
By Vertical
By Country
Companies Profiled
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