Report Content
Chapter 1 Methodology & Scope
1.1 Scope & definitions
1.2 Methodology and forecast parameters
1.3 COVID-19 impact
1.3.1 North America
1.3.2 Europe
1.3.3 Asia Pacific
1.3.4 Latin America
1.3.5 MEA
1.4 Regional factors
1.4.1 North America
1.4.2 Europe
1.4.3 Asia Pacific
1.4.4 Latin America
1.4.5 MEA
1.5 Data Sources
1.5.1 Secondary
1.5.2 Primary
1.6 Glossary
Chapter 2 Executive Summary
2.1 Plant Asset Management (PAM) industry 360º synopsis, 2018 - 2030
2.2 Business trends
2.3 Regional trends
2.4 Component trends
2.5 Deployment model trends
2.6 Asset type trends
2.7 End-user trends
Chapter 3 Plant Asset Management (PAM) Industry Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.2.1 Global outlook
3.2.2 Regional outlook
3.2.2.1 North America
3.2.2.2 Europe
3.2.2.3 Asia Pacific
3.2.2.4 Latin America
3.2.2.5 Middle East & Africa
3.2.3 Industry value chain
3.2.3.1 Suppliers
3.2.3.2 Plant asset management technology providers
3.2.3.3 Marketing and distribution channels
3.2.4 Competitive landscape
3.2.4.1 Strategy
3.2.4.2 Distribution network
3.2.4.3 Business growth
3.3 Impact of Russia-Ukraine war
3.4 Industry evolution
3.5 Plant Asset Management (PAM) industry ecosystem analysis
3.5.1 Plant Asset Management (PAM) software providers
3.5.2 Hardware provider
3.5.3 PAM system integrators
3.5.4 Marketing and distribution
3.5.5 End users
3.5.6 Profit margin analysis
3.5.7 Vendor matrix
3.6 Investment portfolio
3.7 Patent analysis
3.8 Technology & innovation landscape
3.8.1 Mobile workforce functionality
3.8.2 Mixed reality
3.8.3 IoT-enabled assets
3.8.4 Machine learning
3.9 Regulatory landscape
3.9.1 North America
3.9.1.1 Facility Management Institute (FMI) By General Services Administration (GSA)
3.9.1.2 Facility Maintenance Policy (Canada Government)
3.9.2 Europe
3.9.2.1 Guide to the Safety, Health and Welfare at Work Act 2005
3.9.2.2 Institute of Workplace and Facilities Management (IWFM)
3.9.2.3 British Institute of Facilities Management (BIFM)
3.9.3 Asia Pacific
3.9.3.1 National Building Code of India 2016
3.9.3.2 Facilities Management Association of Australia (FMA)
3.9.4 Latin America
3.9.4.1 International Federation of Consulting Engineers (FIDIC) (Brazil)
3.9.5 MEA
3.9.5.1 Middle East Facilities Management Association (MEFMA)
3.9.5.2 South African Facilities Management Association (SAFMA)
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.1.1 Rising need for reducing plant maintenance budgets
3.10.1.2 Increasing adoption of lean manufacturing practices
3.10.1.3 Increasing focus on providing cloud-based PAM solutions
3.10.1.4 Growing need for real-time data analytics
3.10.2 Industry pitfalls & challenges
3.10.2.1 Concerns over data security and cybersecurity challenges
3.10.2.2 High Initial Investment and Need for Periodic Upgrading of PAM Solutions
3.11 Growth potential analysis
3.12 Porter’s analysis
3.12.1 Threat of new entrant
3.12.2 Bargaining power of supplier
3.12.3 Bargaining power of byuer
3.12.4 Threat of substitute
3.13 PESTEL analysis
3.13.1 Political
3.13.2 Economical
3.13.3 Social
3.13.4 Technological
3.13.5 Legal
3.13.6 Environmental
Chapter 4 Competitive Landscape
4.1 Introduction
4.2 Company market share analysis, 2021
4.3 Competive analysis of key market players, 2021
4.3.1 Chart key
4.3.2 ABB Ltd.
4.3.3 Emerson Electric Co.
4.3.4 Honeywell International Inc.
4.3.5 Rockwell Automation, Inc.
4.3.6 Siemens AG
4.3.7 Yokogawa Electric Corporation
4.4 Competive analysis of innovative market players, 2021
4.4.1 Dassault Systèmes
4.4.2 General Electric Company
4.4.3 Hitachi, Ltd.
4.4.4 Bentley Systems, Incorporated
4.5 Vendor adoption matrix
Chapter 5 Plant Asset Management (PAM) Market, By Component
5.1 Key trends, by component
5.2 Solution
5.2.1 Market estimates and forecast, 2018 – 2030
5.2.2 Asset Lifecycle Management
5.2.2.1 Market estimates and forecast, 2018 - 2030
5.2.3 Predictive Maintenance
5.2.3.1 Market estimates and forecast, 2018 - 2030
5.2.4 Work Order Management
5.2.4.1 Market estimates and forecast, 2018 - 2030
5.2.5 Inventory Management
5.2.5.1 Market estimates and forecast, 2018 - 2030
5.3 Service
5.3.1 Market estimates and forecast, 2018 - 2030
5.3.2 Professional service
5.3.2.1 Market estimates and forecast, 2018 - 2030
5.3.3 Managed Service
5.3.3.1 Market estimates and forecast, 2018 - 2030
Chapter 6 Plant Asset Management (PAM) Market, By Deployment Model
6.1 Key trends, by deployment model
6.2 Cloud
6.2.1 Market estimates and forecast, 2018 - 2030
6.3 On-premise
6.3.1 Market estimates and forecast, 2018 - 2030
Chapter 7 Plant Asset Management (PAM) Market, By Asset Type
7.1 Key trends, by asset type
7.2 Production Assets
7.2.1 Market estimates and forecast, 2018 - 2030
7.3 Automation Assets
7.3.1 Market estimates and forecast, 2018 - 2030
Chapter 8 Plant Asset Management (PAM) Market, By End-user
8.1 Key trends, by end-user
8.2 Energy and Power
8.2.1 Market estimates and forecast, 2018 - 2030
8.3 Oil & Gas
8.3.1 Market estimates and forecast, 2018 - 2030
8.4 Petrochemical
8.4.1 Market estimates and forecast, 2018 - 2030
8.5 Mining and Metal
8.5.1 Market estimates and forecast, 2018 - 2030
8.6 Aerospace and Defense
8.6.1 Market estimates and forecast, 2018 - 2030
8.7 Automotive
8.7.1 Market estimates and forecast, 2018 - 2030
8.8 Others
8.8.1 Market estimates and forecast, 2018 - 2030
Chapter 9 Plant Asset Management (PAM) Market, By Region
9.1 Key trends, by region
9.2 North America
9.2.1 Market estimates and forecast, 2018 - 2030
9.2.2 Market estimates and forecast, by component, 2018 - 2030
9.2.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.2.2.2 Market estimates and forecast, by service, 2018 - 2030
9.2.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.2.4 Market estimates and forecast, by asset type, 2018 - 2030
9.2.5 Market estimates and forecast, by end-user, 2018 - 2030
9.2.6 U.S.
9.2.6.1 Market estimates and forecast, 2018 - 2030
9.2.6.2 Market estimates and forecast, by component, 2018 - 2030
9.2.6.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.2.6.2.2 Market estimates and forecast, by service, 2018 - 2030
9.2.6.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.2.6.4 Market estimates and forecast, by asset type, 2018 - 2030
9.2.6.5 Market estimates and forecast, by end-user, 2018 - 2030
9.2.7 Canada
9.2.7.1 Market estimates and forecast, 2018 - 2030
9.2.7.2 Market estimates and forecast, by component, 2018 - 2030
9.2.7.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.2.7.2.2 Market estimates and forecast, by service, 2018 - 2030
9.2.7.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.2.7.4 Market estimates and forecast, by asset type, 2018 - 2030
9.2.7.5 Market estimates and forecast, by end-user, 2018 - 2030
9.3 Europe
9.3.1 Market estimates and forecast, 2018 - 2030
9.3.2 Market estimates and forecast, by component, 2018 - 2030
9.3.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.3.2.2 Market estimates and forecast, by service, 2018 - 2030
9.3.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.3.4 Market estimates and forecast, by asset type, 2018 - 2030
9.3.5 Market estimates and forecast, by end-user, 2018 - 2030
9.3.6 UK
9.3.6.1 Market estimates and forecast, 2018 - 2030
9.3.6.2 Market estimates and forecast, by component, 2018 - 2030
9.3.6.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.3.6.2.2 Market estimates and forecast, by service, 2018 - 2030
9.3.6.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.3.6.4 Market estimates and forecast, by asset type, 2018 - 2030
9.3.6.5 Market estimates and forecast, by end-user, 2018 - 2030
9.3.7 Germany
9.3.7.1 Market estimates and forecast, 2018 - 2030
9.3.7.2 Market estimates and forecast, by component, 2018 - 2030
9.3.7.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.3.7.2.2 Market estimates and forecast, by service, 2018 - 2030
9.3.7.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.3.7.4 Market estimates and forecast, by asset type, 2018 - 2030
9.3.7.5 Market estimates and forecast, by end-user, 2018 - 2030
9.3.8 France
9.3.8.1 Market estimates and forecast, 2018 - 2030
9.3.8.2 Market estimates and forecast, by component, 2018 - 2030
9.3.8.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.3.8.2.2 Market estimates and forecast, by service, 2018 - 2030
9.3.8.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.3.8.4 Market estimates and forecast, by asset type, 2018 - 2030
9.3.8.5 Market estimates and forecast, by end-user, 2018 - 2030
9.3.9 Italy
9.3.9.1 Market estimates and forecast, 2018 - 2030
9.3.9.2 Market estimates and forecast, by component, 2018 - 2030
9.3.9.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.3.9.2.2 Market estimates and forecast, by service, 2018 - 2030
9.3.9.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.3.9.4 Market estimates and forecast, by asset type, 2018 - 2030
9.3.9.5 Market estimates and forecast, by end-user, 2018 - 2030
9.3.10 Spain
9.3.10.1 Market estimates and forecast, 2018 - 2030
9.3.10.2 Market estimates and forecast, by component, 2018 - 2030
9.3.10.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.3.10.2.2 Market estimates and forecast, by service, 2018 - 2030
9.3.10.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.3.10.4 Market estimates and forecast, by asset type, 2018 - 2030
9.3.10.5 Market estimates and forecast, by end-user, 2018 – 2030
9.3.11 Netherlands
9.3.11.1 Market estimates and forecast, 2018 - 2030
9.3.11.2 Market estimates and forecast, by component, 2018 - 2030
9.3.11.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.3.11.2.2 Market estimates and forecast, by service, 2018 - 2030
9.3.11.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.3.11.4 Market estimates and forecast, by asset type, 2018 - 2030
9.3.11.5 Market estimates and forecast, by end-user, 2018 - 2030
9.4 Asia Pacific
9.4.1 Market estimates and forecast, 2018 - 2030
9.4.2 Market estimates and forecast, by component, 2018 - 2030
9.4.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.4.2.2 Market estimates and forecast, by service, 2018 - 2030
9.4.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.4.4 Market estimates and forecast, by asset type, 2018 - 2030
9.4.5 Market estimates and forecast, by end-user, 2018 - 2030
9.4.6 China
9.4.6.1 Market estimates and forecast, 2018 - 2030
9.4.6.2 Market estimates and forecast, by component, 2018 - 2030
9.4.6.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.4.6.2.2 Market estimates and forecast, by service, 2018 - 2030
9.4.6.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.4.6.4 Market estimates and forecast, by asset type, 2018 - 2030
9.4.6.5 Market estimates and forecast, by end-user, 2018 - 2030
9.4.7 India
9.4.7.1 Market estimates and forecast, 2018 - 2030
9.4.7.2 Market estimates and forecast, by component, 2018 - 2030
9.4.7.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.4.7.2.2 Market estimates and forecast, by service, 2018 - 2030
9.4.7.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.4.7.4 Market estimates and forecast, by asset type, 2018 - 2030
9.4.7.5 Market estimates and forecast, by end-user, 2018 - 2030
9.4.8 Japan
9.4.8.1 Market estimates and forecast, 2018 - 2030
9.4.8.2 Market estimates and forecast, by component, 2018 - 2030
9.4.8.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.4.8.2.2 Market estimates and forecast, by service, 2018 - 2030
9.4.8.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.4.8.4 Market estimates and forecast, by asset type, 2018 - 2030
9.4.8.5 Market estimates and forecast, by end-user, 2018 - 2030
9.4.9 South Korea
9.4.9.1 Market estimates and forecast, 2018 - 2030
9.4.9.2 Market estimates and forecast, by component, 2018 - 2030
9.4.9.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.4.9.2.2 Market estimates and forecast, by service, 2018 - 2030
9.4.9.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.4.9.4 Market estimates and forecast, by asset type, 2018 - 2030
9.4.9.5 Market estimates and forecast, by end-user, 2018 - 2030
9.4.9.6 Market estimates and forecast, by end-use, 2018 - 2030
9.4.10 Australia & New Zealand
9.4.10.1 Market estimates and forecast, 2018 - 2030
9.4.10.2 Market estimates and forecast, by component, 2018 - 2030
9.4.10.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.4.10.2.2 Market estimates and forecast, by service, 2018 - 2030
9.4.10.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.4.10.4 Market estimates and forecast, by asset type, 2018 - 2030
9.4.10.5 Market estimates and forecast, by end-user, 2018 - 2030
9.5 Latin America
9.5.1 Market estimates and forecast, 2018 - 2030
9.5.2 Market estimates and forecast, by component, 2018 - 2030
9.5.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.5.2.2 Market estimates and forecast, by service, 2018 - 2030
9.5.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.5.4 Market estimates and forecast, by asset type, 2018 - 2030
9.5.5 Market estimates and forecast, by end-user, 2018 - 2030
9.5.6 Brazil
9.5.6.1 Market estimates and forecast, 2018 - 2030
9.5.6.2 Market estimates and forecast, by component, 2018 - 2030
9.5.6.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.5.6.2.2 Market estimates and forecast, by service, 2018 - 2030
9.5.6.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.5.6.4 Market estimates and forecast, by asset type, 2018 - 2030
9.5.6.5 Market estimates and forecast, by end-user, 2018 - 2030
9.5.7 Mexico
9.5.7.1 Market estimates and forecast, 2018 - 2030
9.5.7.2 Market estimates and forecast, by component, 2018 - 2030
9.5.7.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.5.7.2.2 Market estimates and forecast, by service, 2018 - 2030
9.5.7.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.5.7.4 Market estimates and forecast, by asset type, 2018 - 2030
9.5.7.5 Market estimates and forecast, by end-user, 2018 - 2030
9.5.8 Argentina
9.5.8.1 Market estimates and forecast, 2018 - 2030
9.5.8.2 Market estimates and forecast, by component, 2018 - 2030
9.5.8.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.5.8.2.2 Market estimates and forecast, by service, 2018 - 2030
9.5.8.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.5.8.4 Market estimates and forecast, by asset type, 2018 - 2030
9.5.8.5 Market estimates and forecast, by end-user, 2018 - 2030
9.6 MEA
9.6.1 Market estimates and forecast, 2018 - 2030
9.6.2 Market estimates and forecast, by component, 2018 - 2030
9.6.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.6.2.2 Market estimates and forecast, by service, 2018 - 2030
9.6.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.6.4 Market estimates and forecast, by asset type, 2018 - 2030
9.6.5 Market estimates and forecast, by end-user, 2018 - 2030
9.6.6 UAE
9.6.6.1 Market estimates and forecast, 2018 - 2030
9.6.6.2 Market estimates and forecast, by component, 2018 - 2030
9.6.6.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.6.6.2.2 Market estimates and forecast, by service, 2018 - 2030
9.6.6.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.6.6.4 Market estimates and forecast, by asset type, 2018 - 2030
9.6.6.5 Market estimates and forecast, by end-user, 2018 - 2030
9.6.7 Saudi Arabia
9.6.7.1 Market estimates and forecast, 2018 - 2030
9.6.7.2 Market estimates and forecast, by component, 2018 - 2030
9.6.7.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.6.7.2.2 Market estimates and forecast, by service, 2018 - 2030
9.6.7.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.6.7.4 Market estimates and forecast, by asset type, 2018 - 2030
9.6.7.5 Market estimates and forecast, by end-user, 2018 - 2030
9.6.8 South Africa
9.6.8.1 Market estimates and forecast, 2018 - 2030
9.6.8.2 Market estimates and forecast, by component, 2018 - 2030
9.6.8.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.6.8.2.2 Market estimates and forecast, by service, 2018 - 2030
9.6.8.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.6.8.4 Market estimates and forecast, by asset type, 2018 - 2030
9.6.8.5 Market estimates and forecast, by end-user, 2018 – 2030
9.6.9 Israel
9.6.9.1 Market estimates and forecast, 2018 - 2030
9.6.9.2 Market estimates and forecast, by component, 2018 - 2030
9.6.9.2.1 Market estimates and forecast, by solution, 2018 – 2030
9.6.9.2.2 Market estimates and forecast, by service, 2018 - 2030
9.6.9.3 Market estimates and forecast, by deployment model, 2018 - 2030
9.6.9.4 Market estimates and forecast, by asset type, 2018 - 2030
9.6.9.5 Market estimates and forecast, by end-user, 2018 - 2030
Chapter 10 Company Profiles
10.1 AB SKF
10.1.1 Business Overview
10.1.2 Financial Data
10.1.3 Product Landscape
10.1.4 Strategic Outlook
10.1.5 SWOT Analysis
10.2 ABB Ltd.
10.2.1 Business Overview
10.2.2 Financial Data
10.2.3 Product Landscape
10.2.4 Strategic Outlook
10.2.5 SWOT Analysis
10.3 Bentley Systems, Incorporated
10.3.1 Business Overview
10.3.2 Financial Data
10.3.3 Product Landscape
10.3.4 Strategic Outlook
10.3.5 SWOT Analysis
10.4 CGI Group, Inc.
10.4.1 Business Overview
10.4.2 Financial Data
10.4.3 Product Landscape
10.4.4 Strategic Outlook
10.4.5 SWOT Analysis
10.5 Dassault Systems
10.5.1 Business Overview
10.5.2 Financial Data
10.5.3 Product Landscape
10.5.4 Strategic Outlook
10.5.5 SWOT Analysis
10.6 Emerson Electric Co.
10.6.1 Business Overview
10.6.2 Financial Data
10.6.3 Product Landscape
10.6.4 Strategic Outlook
10.6.5 SWOT Analysis
10.7 Endress+Hauser Management AG
10.7.1 Business Overview
10.7.2 Financial Data
10.7.3 Product Landscape
10.7.4 Strategic Outlook
10.7.5 SWOT Analysis
10.8 General Electric Co.
10.8.1 Business Overview
10.8.2 Financial Data
10.8.3 Product Landscape
10.8.4 Strategic Outlook
10.8.5 SWOT Analysis
10.9 Hitachi, Ltd.
10.9.1 Business Overview
10.9.2 Financial Data
10.9.3 Product Landscape
10.9.4 Strategic Outlook
10.9.5 SWOT Analysis
10.10 Honeywell International Inc.
10.10.1 Business Overview
10.10.2 Financial Data
10.10.3 Product Landscape
10.10.4 Strategic Outlook
10.10.5 SWOT Analysis
10.11 IBM Corporation
10.11.1 Business Overview
10.11.2 Financial Data
10.11.3 Product Landscape
10.11.4 Strategic Outlook
10.11.5 SWOT Analysis
10.12 IFS AB
10.12.1 Business Overview
10.12.2 Financial Data
10.12.3 Product Landscape
10.12.4 Strategic Outlook
10.12.5 SWOT Analysis
10.13 Ing. Punzenberger COPA-DATA GmbH
10.13.1 Business Overview
10.13.2 Financial Data
10.13.3 Product Landscape
10.13.4 Strategic Outlook
10.13.5 SWOT Analysis
10.14 Maxwell Technologies Inc.
10.14.1 Business Overview
10.14.2 Financial Data
10.14.3 Product Landscape
10.14.4 Strategic Outlook
10.14.5 SWOT Analysis
10.15 Oracle Corporation
10.15.1 Business Overview
10.15.2 Financial Data
10.15.3 Product Landscape
10.15.4 Strategic Outlook
10.15.5 SWOT Analysis
10.16 Ramco Systems Ltd.
10.16.1 Business Overview
10.16.2 Financial Data
10.16.3 Product Landscape
10.16.4 Strategic Outlook
10.16.5 SWOT Analysis
10.17 Rockwell Automation, Inc.
10.17.1 Business Overview
10.17.2 Financial Data
10.17.3 Product Landscape
10.17.4 Strategic Outlook
10.17.5 SWOT Analysis
10.18 SAP SE
10.18.1 Business Overview
10.18.2 Financial Data
10.18.3 Product Landscape
10.18.4 Strategic Outlook
10.18.5 SWOT Analysis
10.19 Schneider Electric SA
10.19.1 Business Overview
10.19.2 Financial Data
10.19.3 Product Landscape
10.19.4 Strategic Outlook
10.19.5 SWOT Analysis
10.20 Siemens AG
10.20.1 Business Overview
10.20.2 Financial Data
10.20.3 Product Landscape
10.20.4 Strategic Outlook
10.20.5 SWOT Analysis
10.21 Yokogawa Electric Corporation
10.21.1 Business Overview
10.21.2 Financial Data
10.21.3 Product Landscape
10.21.4 Strategic Outlook
10.21.5 SWOT Analysis
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.
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.
Plant Asset Management Market Analysis
The asset lifecycle management held over 30% share of Canada PAM market in 2021, due to the growing adoption of various technologies, such as IoT and automation, across plants. Smart technologies and rich troves of data related to equipment & infrastructure are now available to help enterprises take a more proactive approach to asset management. Asset lifecycle management solutions balance the very different maintenance requirements of diverse & distributed assets to deliver maximum safety & longevity in design, construction, commissioning, operations, maintenance, decommissioning, and replacement.
Owing to their low costs, cloud-based (online) PAM software solutions are the best choice for small- & medium-sized businesses in Europe. In Germany plant asset management market, the cloud deployment model is projected to witness growth rate of over 10% through 2030, because of the increasing use of cloud services to reduce the cost of ownership across various industries. Cloud-based deployments are helping enterprises to manage their business operations in the pandemic and allowing users to work remotely & execute day-to-day operations.
In the UK, production asset segment captured a market share of 60% in 2021, impelled by the growing demand for managing & mapping production assets and ensuring a smooth work process throughout plants. Production asset management software solutions increase the efficiency of production environments with the help of tools & features that manage & track media throughout the whole content creation process. The production asset helps to automate workflow, ensuring efficient storage & controlling of production assets.
The aerospace & defense segment in China is poised to attain around 15% gains from 2022 to 2030, attributed to investments in advanced technologies in the aerospace & defense sector. Manufacturing cost management is becoming a priority for aerospace manufacturers, forcing them to adopt asset management technologies for their plants. The aerospace sector is implementing PAM solutions to reduce operational costs with the help of advanced technologies such as predictive maintenance and AI.
The North American plant asset management market is expected to generate a revenue of nearly USD 4 billion by 2030, propelled by smart factory solutions in the region. The rapid adoption of IoT/IIoT in various sectors, such as manufacturing, automotive, and healthcare, can be credited to rising internet penetration, the availability of cheap IoT sensors, and the proliferation of smart connected devices. The presence of developed IT infrastructure and supportive government initiatives to support the advent of Industry 4.0 in the region are contributing to market growth.
Plant Asset Management Market Share
Some of the key plant asset management market players include :
Companies are emphasizing on various merger & acquisition strategies to gain a competitive advantage in the market.
This market research report on plant asset management (PAM) includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2030 for the following segments:
Market By, Component
Market By, Deployment Model
Market By, Asset Type
Market By, End User
The above information has been provided for the following regions and countries: