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Plant Asset Management (PAM) Market Size

  • Report ID: GMI4756
  • Published Date: Jul 2022
  • Report Format: PDF

Plant Asset Management Market Size

Plant Asset Management Market size exceeded USD 5 billion in 2021 and is set to register 10% CAGR between 2022 and 2030. The growing demand for improving the various processes across manufacturing & utility plants to achieve improved productivity with minimum resource wastage is driving the industry growth.

 

Plant Asset Management Market

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The rising digitalization and the advent of Industry 4.0 are enabling various stakeholders to adopt lean manufacturing practices. Plants that are using lean processes have seen a 10%-12% growth in productivity. Advantages of these practices increase the adoption of digitalization in manufacturing processes, thereby boosting market demand

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of plant asset management (PAM) exceeded USD 5 billion in 2021 and is poised to record a CAGR of more than 10% between 2022 and 2030, owing to the increasing need for improving processes across manufacturing and utility plants.

The asset lifecycle management solution segment held over 30% of the PAM industry in Canada in 2021 owing to the higher adoption of technologies like IoT and automation across plants.

In China, the PAM market share from the aerospace & defense end-user segment is slated to grow at a 15% CAGR through 2030 driven by the rising number of investments in advanced technologies.

Production assets management segment dominated with over 60% of the U.K. market share in 2021 with the rising need for increasing the efficiency of production environments.

Some of the leading players in global PAM industry are CGI Group, Inc., General Electrical, Honeywell, Punzenberger COPA-DATA GmbH, IBM Corporation, Bentley Systems, ABB Ltd., and Schneider Electric SA, among many others.

Plant Asset Management Market Scope

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 21
  • Tables & Figures: 444
  • Countries covered: 20
  • Pages: 339
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