The Latin America, Middle East and Africa Infrastructure Asset Management Market would witness market growth of 11.2% CAGR during the forecast period (2023-2030).
The mining industry is known for adopting advanced technologies, including sensors, data analytics, and remote monitoring. These technologies can be applied to infrastructure asset management, driving innovation and the adoption of similar tools in other sectors. Mining processes require a considerable quantity of energy. Mining companies often invest in energy infrastructure and energy-efficient practices, which can influence energy management practices in other sectors. Infrastructure assets are crucial for transporting mined resources to their destinations. Effective asset management ensures a smooth and reliable supply chain, benefiting the mining industry and infrastructure management.
The accumulation of vast amounts of data from infrastructure assets enables data-driven decision-making. Asset management solutions analyze this data to optimize asset performance, predict maintenance needs, and enhance decision-making. Data-driven decision-making allows organizations to analyze the performance of infrastructure assets based on real-time data and historical information. This asset performance optimization leads to increased efficiency and reliability, a fundamental goal in asset management. Data collected in real-time from sensors and monitoring systems provides immediate feedback on asset performance. This real-time monitoring enables rapid decision-making to address emerging issues. Data analysis helps asset managers prioritize assets based on condition, criticality, and performance metrics. This ensures that the most critical assets receive the necessary attention and resources.
The UAE has implemented various energy efficiency measures, including adopting energy-efficient technologies in buildings, industries, and transportation. The UAE has explored carbon capture and storage technologies to reduce carbon emissions from industrial processes, particularly in the oil and gas sector. Natural gas and coal-fired power plants are among the conventional power generation infrastructure the UAE has been expanding to satisfy the rising electricity demand caused by a rapidly growing industrial sector and population. The UAE invests in energy efficiency measures, such as retrofitting buildings with energy-efficient technologies, industrial process optimization, and more efficient transportation systems. Due to the above-mentioned factors, the market will grow significantly in this region.
The Brazil market dominated the LAMEA Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,864.4 million by 2030. The Argentina market is exhibiting a CAGR of 12.7% during (2023 - 2030). Additionally, The UAE market would experience a CAGR of 10.9% during (2023 - 2030).
Based on Component, the market is segmented into Services (Operational Asset Management, Strategic Asset Management, Tactical Asset Management), and Solution. Based on Application, the market is segmented into Transportation, Energy Infrastructure, Water & Waste Infrastructure, Critical Infrastructure, Mining, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Infrastructure Asset Management Market is Projected to reach USD 73.3 Billion by 2030, at a CAGR of 9.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Golder Associates (WSP Global Inc.), Tetra Laval International S.A, Clarios, LLC. (Brookfield Business Partners), Macquarie Group Limited, SIMCO Technologies, Pitney Bowes, Inc., SNC-Lavalin Group, Inc., Aabasoft Technologies Pvt. Ltd., ThomasLloyd Global Asset Management GmbH, EverStream Capital Management.
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