The Latin America, Middle East and Africa Asset Performance Management Market would witness market growth of 10% CAGR during the forecast period (2019-2025). Monitoring the physical integrity is crucial during operations while maintaining a mechanically safe asset. For a secure, reliable, and cost-effective operation, APM proactively tracks and estimates the status of vital process equipment, pumps, and piping systems in conjunction with other related asset infrastructure. The outcome is a series of solutions that provide the operation high levels of visibility, security and reduced risk, allowing companies to make informed decisions on time.
Predictive technologies can further boost the quality of assets, improve performance and reduce costs. Nevertheless, the advantages of asset health systems go beyond optimization and visible cost savings. Aligning maintenance investments to the specifications of the equipment saves money and improves efficiency, enabling the equipment to operate at an optimum level. Work planning has also become increasingly effective, generating savings beyond core maintenance and minimizing operational risks. Labor costs are usually lowered by asset health solutions and workers' health and safety are enhanced when operating teams can avoid unsafe, ad hoc activities and perform procedures only when needed.
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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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