DUBLIN, October 27, 2021--(BUSINESS WIRE)--The "Global Asset Performance Management Market (2021-2027) by Component, Organization Size, Deployment, Industry, and Geography, Competitive Analysis, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Asset Performance Management Market is estimated to be USD 3.8 Bn in 2021 and is expected to reach USD 7.3 Bn by 2027, growing at a CAGR of 11.5%.
Key factors contributing to the growth of the asset performance market are the rising need for risk-based maintenance devices in asset-intensive industries. Such solutions can be helpful in delivering critical insights into the productivity of the assets in the organization. Also, there have been rising investments in cloud-based applications such as augmented reality applications, which can be a growth driver to the Asset Performance Management (AFM) market. Application of IT and OT (Operational Technology) in the manufacturing industries and rising demand for improving machine efficiency, productivity, and performance are factors driving the growth of the market.
The cost of implementing these solutions is comparatively high. Thus, it has resulted in less deployment among SMEs. Also, a lack of awareness about cybersecurity is likely to hamper the growth of the market.
The global asset performance management market is segmented based on component, organization size, deployment, industry, and geography
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
The report offers a comprehensive evaluation of the Global Asset Performance Management Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
A complete analysis of the market including parent industry
Important market dynamics and trends
Historical, current, and projected size of the market based on value and volume
Market shares and strategies of key players
Recommendations to companies for strengthening their foothold in the market
Rising Need for Risk-Based Maintenance
Need to Maximize Economic Return on Assets
Rising Investments in Cloud-Based Applications
High Cost of Implementation
Lack of Awareness about the Cybersecurity Issues
Implications of Industry 4.0 and Iiot in Asset Intensive Industries
Growing Use of Analytics Among Asset Performance Management Solutions
Government Regulations for Manufacturing Plants Amidst Environmental Concerns
Lack of Industry Expertise
Aspen Technology, Inc.
AVEVA Group plc
BENTLEY Systems, Incorporated
DNV GL AS
SAS Institute Inc
For more information about this report visit https://www.researchandmarkets.com/r/86p12n
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