The North America Asset Performance Management Market would witness market growth of 8.4% CAGR during the forecast period (2019-2025). The ability of asset performance management solutions has helped businesses take critical decisions and reduced the cost of overall operation. These are two prominent factors that promote the demand for APM solutions worldwide. Nonetheless, most mid-size and small-size companies continue to avoid from engaging in asset performance management due to relatively high costs. This, in effect, has somewhat limited market growth. The growing reliance on cloud systems for business processes, along with increase in global competition, is anticipated to provide the asset performance management market with several opportunities to grow.
Maintenance of machines and equipment at an acceptable level of performance can sometimes be a real struggle. With a wide range of different strategies to keep the vital resources under control, it can be challenging to decide which is most cost-effective and efficient in the long run. In the pursuit of operational excellence, asset performance management (APM) serves a crucial role in achieving business objectives-ensuring that resources deliver value at a minimal cost and operate in a secure and environmentally responsible approach. From operational predictive and prescriptive analysis to asset performance, process safety and integrity management systems, Bentley's Asset Performance Management (APM) approach incorporates operations, engineering, and maintenance to control business processes in a structured decision-making environment.
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 U.S., Mexico, Canada, and Rest of North America.
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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