Asset Performance Management Market

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Asset Performance Management Market by Component (Solutions (Asset Strategy, Asset Reliability, and Predictive Asset Management) and Services), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2028

FREE BROCHURE FREE SAMPLE REPORT
Report Code: TC 7630 Aug, 2023, by marketsandmarkets.com

[286 Pages Report] The asset performance management market size is expected to grow from USD 2.9 billion in 2023 to USD 4.7 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 9.9% during the forecast period. Growing need to optimize asset performance management strategy with a 360-degree view of asset performance is driving the global asset performance management market during the forecast period. A solid asset performance management strategy is about capturing and analyzing data to improve asset reliability and availability. This can only be realized when organizations are fully informed about their current asset state. Only then are they able to set predictive forecasting and use reliability-centered maintenance (RCM) strategies. 360-degree view of asset performance helps in formulating asset strategies that are targeted, holistic, and optimized activities, which mitigate potential risks of asset failure through predictive and preventative maintenance, inspection, monitoring, engineering, and analytical methodologies. The integration with broader asset management and operational systems, along with embedded optimization methods, ensures enterprises are fully managing failure risks at an optimized cost profile.

Asset Performance Management Market

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Asset Performance Management Market

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Recession Impact on the Asset performance management market

During a recession, the asset performance management (APM) market can experience a range of impacts that reflect the broader economic downturn. In times of economic uncertainty and reduced business activity, organizations often prioritize cost-cutting measures and operational efficiency to weather financial challenges. As a result, the demand for APM solutions may experience fluctuations. While some companies might delay or scale back their investments in APM technologies to conserve resources, others could place a heightened emphasis on APM to optimize asset utilization, reduce downtime, and minimize maintenance costs. The impact of a recession on the APM market can also be influenced by the industries served – sectors such as manufacturing, energy, and utilities might maintain their focus on APM due to the critical nature of their assets, while other industries might temporarily decrease their APM investments. Companies offering APM solutions and services need to figure out ways to reduce costs without compromising on service quality, especially during an economic slowdown. An effective asset performance management strategy can reduce costs, improve efficiency, and help companies comply with health and safety regulations.

Asset performance management market Dynamics

Driver:  Increased digital workforce and reliability culture

Asset performance management enables organizations to accelerate their path to a digital business model. Organizations gain control of asset decisions with broad-reaching data that reflect resource availability, operating impact, and real-time condition reports. When industrial organizations require assets to operate at all times, asset performance management helps focus on assets that need repair to lower the Total Cost of Ownership (TCO) and reduce the risk of unplanned downtime of mission-critical assets. If they want to survive, industrial companies need to recognize that they are in the information business, and change extends beyond the assets themselves. Employees are embracing the digital industry they now work in and are adopting asset performance management tools for reliability and safety in today’s highly regulated environments. These factors are driving the asset performance management market.

Restraint: Concerns over data security and confidentiality

With the increasing digitization, cyberattacks have been rising. Hence, data security has become a major concern in organizations. Organizations embracing new advanced digital technologies are making their data vulnerable to risks. There is a significant rise in cybersecurity concerns with the transfer of data from the field to the cloud platform, as malicious parties can attack servers, networks, and communication channels. Several enterprises are developing digital twin solutions for testing and building various types of equipment for a virtual environment, predicting asset conditions, and avoiding unplanned failures. If the functioning of these solutions is compromised, they can reveal Intellectual Property (IP) elements, such as details of automation and control system operations. Hence, service organizations from highly regulated industries hesitate to adopt modern asset performance management solutions.

Opportunity: Rising trend of proactive asset performance management with IIoT, predictive, and prescriptive analytics

Predictive analytics is a process to interpret past behavior and, based on that analysis, predict future outcomes. When performed correctly, predictive analytics can accurately portray asset lifecycle and reliability and focus on the early root causes of degradation rather than later-stage detection of damage. The insights available from intense multi-variate and temporal pattern analysis provide accurate, critical lead times. This allows time for decisions that can eliminate damage and maintenance or, at the very least, provide preparation time to reduce time to repair and mitigate consequences. As a result, predictive/prescriptive capabilities enable asset lifecycle reliability and facilitate decisions on when and how to maximize production while proactively avoiding asset and output risks. Such real-time analytics guide maintenance scheduling and asset optimization, eliminating guesswork on future production and asset issues. For C-level executives, this complete picture of plant or site performance enables more confident risk analysis and performance projections for the board level.

Challenge: Difficulties with integration and implementation of asset performance management with existing applications

There is often an expectation of seamless integration. The reality is that the complexity of sequencing data built within asset performance management requires complex interfaces, and given that each business structures its data quite differently, ‘out of the box’ interfaces do not exist. Hence, in several cases, businesses are left moving data between asset performance management and other tools using load sheets. Similarly, the sheer volumes of online condition data generated by machines will drown most asset performance management solutions. Hence, this data is expected to require pre-processing to simplify ingestion, meaning that it is not just a matter of integrating but rather developing a complete data strategy.

Asset performance management market Ecosystem

Asset Performance Management Market

Based on solutions, the asset strategy management segment is expected to hold the largest market share in 2023.

Asset Strategy Management (ASM) is a structured process that enables organizations to gain control and effectively manage asset strategies, eliminate inconsistencies, and ensure assets are up and running at their full potential in the enterprise widely for closing the gap between current asset performance and optimal asset performance. Implementing an ASM program ensures reliability strategies are optimized to deliver the best balance of risk, cost, and performance. It also ensures strategies are continually evolved based on real data, appropriate analysis and justification are provided, and effective review and approval processes are offered.

Based on vertical, chemicals vertical to grow at the highest CAGR during the forecast period.

The chemical and pharmaceutical industry alone adds a huge value to the global economy every year. This, in turn, makes it essential to not only enhance the reliability of chemical equipment but also maintain it to keep production running at an optimal level. The major challenges faced by the chemical vertical include unplanned downtime of mission-critical equipment, high maintenance and repair costs due to caustic substances, and safety issues around hazardous chemical inventory. The continual expense of maintenance and the rising costs of materials have pushed various chemical manufacturers into the process of finding new technologies to control, maintain, and improve production. Asset performance management solutions prioritize works orders, automate inventory control, improve safety and compliance throughout the production plant, and build cost-saving preventive maintenance.

Based on Region, North America to hold the largest market share during the forecast period.

North America is one of the most technologically advanced regions in the world. It accounts for the largest share of the global asset performance management market due to the early adoption of cloud and digital technologies with Industry 4.0 capabilities in the US. North American countries have sustainable and well-established economies, which enable them to invest strongly in R&D activities, thereby contributing to the development of new technologies. Owing to the early adoption of trending technologies, such as IoT, big data, AI, and ML, manufacturers are keen on integrating industrial IoT technologies with their manufacturing processes to simplify asset management and enable predictive and prescriptive maintenance across asset-intensive organizations. The growing need to manage assets efficiency, manage assets sustainably, and optimize total cost of ownership (TCO) has led to the adoption of asset performance management solutions across the region. North America is at the forefront in deploying asset performance management solutions, which are efficient in providing early warning notification with predictive analytics and diagnosis of equipment issues days, weeks, or months before failure.

Asset Performance Management Market Size, and Share

Key Market Players

The asset performance management market is dominated by a few globally established players such as AVEVA, SAP, GE Digital, IBM, ABB, Emerson, Bentley Systems, Rockwell Automation, Fluke, and DNV, among others, are the key vendors that secured asset performance management contracts in last few years. These vendors can bring global processes and execution expertise to the table, the local players only have local expertise. Driven by increased disposable incomes, easy access to knowledge, and fast adoption of technological products, buyers are more willing to experiment/test new things in the asset performance management market.

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Scope of the Report

Report Metrics

Details

Market size available for years

2019–2028

Base year considered

2022

Forecast period

2023–2028

Forecast units

Value (USD Million/Billion)

Segments covered

Component, Deployment Type, Organization Size, and Vertical

Regions covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

AVEVA, SAP, GE Digital, IBM, ABB, Emerson, Bentley Systems, Rockwell Automation, Fluke, DNV, Siemens Energy, Hexagon, Oracle, Honeywell, Yokogawa, SAS AB, Arms Reliability, Tenna, MaintainX, Nexus Global. Synopsys, Detechtion Technologies, UpKeep, MentorAPM, Fracttal, Prometheus Group, MicroAI, IPS Intelligent Process Solutions, Qualer, Plasma, VROC, and Operational Sustainability

This research report categorizes the asset performance management market to forecast revenue and analyze trends in each of the following submarkets:

Based on Component:
  • Solutions
    • Asset Strategy Management
    • Asset Reliability Management
    • Predictive Asset Management
    • Other Solutions
  • Services
    • Professional Services
      • Support & Maintenance
      • Implementation & Integration
      • Consulting
    • Managed Services
Based on Deployment Type:
  • On-premises
  • Cloud
Based on Organization Size:
  • Large Enterprises
  • SMEs
Based on Vertical:
  • Energy & Utilities
  • Manufacturing
  • Government & Defense
  • Chemicals
  • Telecommunications
  • Healthcare & Pharmaceuticals
  • Consumer Goods, Food & Beverages
  • Other Verticals
Based on Region:
  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America     

Recent Developments:

  • In January 2023, Schneider Electric acquired AVEVA. This deal would enable both the entities a holistic approach to digital transformation across industrial operations, while reducing energy, carbon, and resource intensity. While AVEVA will henceforth be wholly owned and part of Schneider Electric, it is intended that AVEVA’s business autonomy and future R&D investment will be preserved going forward, thereby helping to meet increasing demand for a stronger portfolio of solutions.
  • In July 2021, GE Digital partnered with Airbus and Delta TechOps to bring support with its best-in-class predictive analytics software. With GE Digital’s added analytics capabilities and systems portfolio, covering Airbus and non-Airbus OEM aircraft, airlines will further benefit from cross-fleet health monitoring and diagnostics, reliability analysis, and PdM analytics.
  • In June 2021, Bentley Systems recently acquired SPIDA Software, developers of specialized software for the design, analysis, and management of utility pole systems. The integration of SPIDA within Bentley Systems OpenUtilities   engineering software, PowerView, and grid digital twin cloud services will help address the challenges of transitioning to new renewable energy sources, including for electric vehicle charging, of joint usage of utility poles to support broadband networks’ 5G expansion, and of modernizing and hardening the electric grid to maintain reliability and resilience.
  • In May 2021, AVEVA partnered with Maire Tecnimont Group. This partnership will extend usage of AVEVA’s Asset Performance Management (APM) solutions across the Maire Tecnimont Group, globally, thereby enhancing plant operability and lowering maintenance costs. This in turn will deliver increased information availability empowering better, more informed decision-making, and subsequently improving overall business performance. As part of the agreement, the two companies will work together over a year on a defined number of customer projects so as to promote the application of predictive maintenance technology for critical plant assets.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 40)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE 
           1.3.1 MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY 
           TABLE 1 USD EXCHANGE RATE, 2015–2022
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 45)
    2.1 RESEARCH DATA 
           FIGURE 1 ASSET PERFORMANCE MANAGEMENT MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakup of primary profiles
                               FIGURE 2 BREAKUP OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
                    2.1.2.2 Key industry insights
    2.2 DATA TRIANGULATION 
    2.3 MARKET SIZE ESTIMATION 
           FIGURE 3 MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES
           FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 1 (TOP-DOWN): REVENUE OF VENDORS OFFERING ASSET PERFORMANCE MANAGEMENT SOLUTIONS AND SERVICES
           FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 2 (BOTTOM-UP): REVENUE OF VENDORS OFFERING ASSET PERFORMANCE MANAGEMENT SOLUTIONS AND SERVICES
           FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 3 (DEMAND SIDE): COLLECTIVE REVENUE FROM ALL SOLUTIONS/SERVICES OF ASSET PERFORMANCE MANAGEMENT MARKET
           FIGURE 7 MARKET SIZE SIZING METHODOLOGY—SUPPLY SIDE: ILLUSTRATION OF VENDOR REVENUE ESTIMATION
           FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY—SUPPLY SIDE: CAGR PROJECTIONS FROM SUPPLY SIDE
    2.4 MARKET FORECAST 
           TABLE 2 MARKET: FACTOR ANALYSIS
    2.5 RESEARCH ASSUMPTIONS 
    2.6 LIMITATIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 57)
    3.1 RECESSION IMPACT 
           FIGURE 9 ASSET PERFORMANCE MANAGEMENT MARKET SNAPSHOT, 2019–2028
           FIGURE 10 HIGH-GROWTH SEGMENTS IN MARKET
           FIGURE 11 ASSET STRATEGY MANAGEMENT SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
           FIGURE 12 ON-PREMISES SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
           FIGURE 13 TOP END USERS OF ASSET PERFORMANCE MANAGEMENT
           FIGURE 14 MARKET: REGIONAL SNAPSHOT
 
4 PREMIUM INSIGHTS (Page No. - 63)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN ASSET PERFORMANCE MANAGEMENT MARKET 
           FIGURE 15 NEED FOR SIMPLIFYING INFORMATION TECHNOLOGY OPERATIONS WORKFLOW TO DRIVE ADOPTION
    4.2 MARKET, BY SOLUTION (2023 VS. 2028) 
           FIGURE 16 ASSET STRATEGY MANAGEMENT SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
    4.3 MARKET, BY DEPLOYMENT TYPE 
           FIGURE 17 ON-PREMISES SEGMENT ACCOUNTS FOR MAJOR SHARE OF MARKET IN 2023
    4.4 MARKET, BY ORGANIZATION SIZE 
           FIGURE 18 LARGE ENTERPRISES SEGMENT ACCOUNTS FOR DOMINANT MARKET SHARE IN 2023
    4.5 MARKET, BY VERTICAL (2023 VS. 2028) 
           FIGURE 19 ENERGY & UTILITIES VERTICAL TO BE LARGEST END USER DURING FORECAST PERIOD
    4.6 MARKET: REGIONAL SCENARIO, 2023–2028 
           FIGURE 20 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW AND INDUSTRY TRENDS (Page No. - 66)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 21 ASSET PERFORMANCE MANAGEMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Need to meet regulatory compliance and reporting standards across asset-centric organizations
                    5.2.1.2 Growing need to manage assets efficiency and sustainability and optimize total cost of ownership
                               FIGURE 22 MAJOR BENEFITS DRIVING ADOPTION OF ASSET PERFORMANCE MANAGEMENT
                    5.2.1.3 Demand for making informed business decisions with predictive asset maintenance
                               FIGURE 23 TOP ASSET PERFORMANCE MANAGEMENT VENDORS RAPIDLY CLIMBING TO MORE MATURE LEVELS (NAME)
                    5.2.1.4 Increased digital workforce and reliability culture
                    5.2.1.5 Growing need to optimize asset performance management strategy with 360-degree view of asset performance
           5.2.2 RESTRAINTS
                    5.2.2.1 Concerns over data security and confidentiality
                    5.2.2.2 Stringent government rules and regulations
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Requirement to extend life span of assets with help of advanced technologies
                    5.2.3.2 Growing inclination toward adoption of new approach to asset performance management with Industry 4.0
                    5.2.3.3 Rising trend of proactive asset performance management with IIoT, predictive, and prescriptive analytics
                    5.2.3.4 Adoption of digital twin solutions for asset performance management to drive better return on assets
                    5.2.3.5 Inclination of organizations toward cloud-based deployments to overcome on-premises limitations
           5.2.4 CHALLENGES
                    5.2.4.1 Lack of skilled workforce and poor management skills
                    5.2.4.2 Difficulties with integration and implementation of asset performance management with existing applications
    5.3 CASE STUDY ANALYSIS 
           5.3.1 CASE STUDY 1: AVEVA TO THE AID OF TATA POWER TOWARDS EFFICIENT OPERATIONS
           5.3.2 CASE STUDY 2: REDUCING HUMAN ERROR WHILE IMPROVING RESOURCE EFFECTIVENESS
           5.3.3 CASE STUDY 3: OVERALL ENHANCEMENT IN NOVA SCOTIA POWER’S FUNCTIONING AND ASSET MANAGEMENT, MONITORING ASSET HEALTH
    5.4 ECOSYSTEM ANALYSIS 
           FIGURE 24 ASSET PERFORMANCE MANAGEMENT MARKET: ECOSYSTEM MAPPING
                    TABLE 3 MARKET: ROLE IN ECOSYSTEM
    5.5 VALUE CHAIN ANALYSIS 
           FIGURE 25 MARKET: VALUE CHAIN ANALYSIS
    5.6 TECHNOLOGY ANALYSIS 
           5.6.1 CLOUD/SOFTWARE AS A SERVICE (SAAS)
           5.6.2 ARTIFICIAL INTELLIGENCE
           5.6.3 MACHINE LEARNING
           5.6.4 IOT TECHNOLOGY
           5.6.5 AUGMENTED REALITY
    5.7 PATENT ANALYSIS 
           FIGURE 26 NUMBER OF PATENTS PUBLISHED (2012–2023)
           FIGURE 27 TOP PATENT OWNERS
           TABLE 4 ASSET PERFORMANCE MANAGEMENT MARKET: TOP TEN PATENT APPLICANTS
           TABLE 5 MARKET: LIST OF PATENTS
    5.8 PRICING ANALYSIS 
           TABLE 6 MARKET: PRICING ANALYSIS OF VENDORS
    5.9 PORTER’S FIVE FORCES MODEL 
           FIGURE 28 MARKET: PORTER’S FIVE FORCES ANALYSIS
           TABLE 7 MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.9.1 THREAT OF NEW ENTRANTS
           5.9.2 THREAT OF SUBSTITUTES
           5.9.3 BARGAINING POWER OF SUPPLIERS
           5.9.4 BARGAINING POWER OF BUYERS
           5.9.5 INTENSITY OF COMPETITIVE RIVALRY
    5.10 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.10.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 29 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP END USERS
                    TABLE 8 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP END USERS (%)
           5.10.2 BUYING CRITERIA
                    FIGURE 30 KEY BUYING CRITERIA FOR TOP END USERS
                    TABLE 9 KEY BUYING CRITERIA FOR END USERS
    5.11 REGULATORY LANDSCAPE 
           5.11.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 12 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 13 REST OF WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.11.2 REGULATIONS
                    5.11.2.1 North America
                    5.11.2.2 Europe
                    5.11.2.3 Asia Pacific
                    5.11.2.4 Middle East and South Africa
                    5.11.2.5 Latin America
    5.12 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
                    FIGURE 31 TRENDS/DISRUPTIONS IMPACTING BUYERS
    5.13 KEY CONFERENCES & EVENTS IN 2023–2024 
                    TABLE 14 MARKET: DETAILED LIST OF CONFERENCES AND EVENTS
 
6 ASSET PERFORMANCE MANAGEMENT MARKET, BY COMPONENT (Page No. - 97)
    6.1 INTRODUCTION 
           6.1.1 COMPONENT: MARKET DRIVERS
                    FIGURE 32 SERVICES SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
                    TABLE 15 MARKET SIZE, BY COMPONENT, 2019–2022 (USD MILLION)
                    TABLE 16 MARKET SIZE, BY COMPONENT 2023–2028 (USD MILLION)
    6.2 SOLUTIONS 
           FIGURE 33 PREDICTIVE ASSET MANAGEMENT SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 17 MARKET SIZE, BY SOLUTION, 2019–2022 (USD MILLION)
           TABLE 18 MARKET SIZE, BY SOLUTION, 2023–2028 (USD MILLION)
           6.2.1 ASSET STRATEGY MANAGEMENT
                    6.2.1.1 Growing focus on gaining high return on assets to increase demand for asset strategy management solutions
                               TABLE 19 ASSET STRATEGY MANAGEMENT: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 20 ASSET STRATEGY MANAGEMENT: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
           6.2.2 ASSET RELIABILITY MANAGEMENT
                    6.2.2.1 Necessity of increase production, provide worker safety, and achieve on-time customer deliveries to create demand
                               TABLE 21 ASSET RELIABILITY MANAGEMENT: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 22 ASSET RELIABILITY MANAGEMENT: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
           6.2.3 PREDICTIVE ASSET MANAGEMENT
                    6.2.3.1 Need to maintain critical assets efficiently to drive demand in coming years
                               TABLE 23 PREDICTIVE ASSET MANAGEMENT: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 24 PREDICTIVE ASSET MANAGEMENT: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
           6.2.4 OTHER SOLUTIONS
                               TABLE 25 OTHER SOLUTIONS: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 26 OTHER SOLUTIONS: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
    6.3 SERVICES 
           FIGURE 34 MANAGED SERVICES SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
           TABLE 27 MARKET SIZE, BY SERVICE, 2019–2022 (USD MILLION)
           TABLE 28 MARKET SIZE, BY SERVICE, 2023–2028 (USD MILLION)
           6.3.1 PROFESSIONAL SERVICES
                    6.3.1.1 Demand for support & maintenance services to fuel adoption of professional services
                               FIGURE 35 IMPLEMENTATION & INTEGRATION SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
                               TABLE 29 ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY PROFESSIONAL SERVICE, 2019–2022 (USD MILLION)
                               TABLE 30 MARKET SIZE, BY PROFESSIONAL SERVICE, 2023–2028 (USD MILLION)
                               TABLE 31 PROFESSIONAL SERVICES: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 32 PROFESSIONAL SERVICES: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
                    6.3.1.2 Implementation & integration
                               TABLE 33 IMPLEMENTATION & INTEGRATION: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 34 IMPLEMENTATION & INTEGRATION: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
                    6.3.1.3 Consulting
                               TABLE 35 CONSULTING: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 36 CONSULTING: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
                    6.3.1.4 Support & maintenance
                               TABLE 37 SUPPORT & MAINTENANCE: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 38 SUPPORT & MAINTENANCE: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
           6.3.2 MANAGED SERVICES
                    6.3.2.1 Better cost control, improved risk management, and high organizational availability to increase adoption
                               TABLE 39 MANAGED SERVICES: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 40 MANAGED SERVICES: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
 
7 ASSET PERFORMANCE MANAGEMENT MARKET, BY ORGANIZATION SIZE (Page No. - 114)
    7.1 INTRODUCTION 
           7.1.1 ORGANIZATION SIZE: MARKET DRIVERS
                    FIGURE 36 SMALL & MEDIUM-SIZED ENTERPRISES SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
                    TABLE 41 MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                    TABLE 42 MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
    7.2 LARGE ENTERPRISES 
           7.2.1 NORTH AMERICA TO DOMINATE MARKET IN LARGE ENTERPRISES
                    TABLE 43 LARGE ENTERPRISES: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 44 LARGE ENTERPRISES: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
    7.3 SMALL & MEDIUM-SIZED ENTERPRISES 
           7.3.1 ASIA PACIFIC TO WITNESS HIGHEST GROWTH IN ADOPTION OF ASSET PERFORMANCE MANAGEMENT AMONG SMES
                    TABLE 45 SMALL & MEDIUM-SIZED ENTERPRISES: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 46 SMALL & MEDIUM-SIZED ENTERPRISES: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
 
8 ASSET PERFORMANCE MANAGEMENT MARKET, BY DEPLOYMENT TYPE (Page No. - 119)
    8.1 INTRODUCTION 
           8.1.1 DEPLOYMENT TYPES: MARKET DRIVERS
                    FIGURE 37 CLOUD SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
                    TABLE 47 MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                    TABLE 48 MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
    8.2 ON-PREMISES 
           8.2.1 COMPANIES WITH LARGE BUDGETS AND TEAMS TO DRIVE ADOPTION OF ON-PREMISES DEPLOYMENT
                    TABLE 49 ON-PREMISES: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 50 ON-PREMISES: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
    8.3 CLOUD 
           8.3.1 COST-EFFECTIVENESS, EASY ACCESS, AND SCALABILITY TO BOOST DEMAND FOR CLOUD-BASED SOLUTIONS
                    TABLE 51 CLOUD: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 52 CLOUD: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
 
9 ASSET PERFORMANCE MANAGEMENT MARKET, BY VERTICAL (Page No. - 124)
    9.1 INTRODUCTION 
           9.1.1 VERTICALS: MARKET DRIVERS
                    FIGURE 38 CHEMICALS SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 53 MARKET SIZE, BY VERTICAL, 2019–2022 (USD MILLION)
                    TABLE 54 MARKET SIZE, BY VERTICAL, 2023–2028 (USD MILLION)
    9.2 ENERGY & UTILITIES 
           9.2.1 ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR ASSET PERFORMANCE MANAGEMENT IN ENERGY & UTILITIES SEGMENT
                    TABLE 55 ENERGY & UTILITIES: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 56 ENERGY & UTILITIES: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
    9.3 MANUFACTURING 
           9.3.1 RAPID DIGITAL TRANSFORMATION AND DEPLOYMENT OF AI AND IIOT TO ACCELERATE ADOPTION OF ASSET PERFORMANCE MANAGEMENT
                    TABLE 57 MANUFACTURING: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 58 MANUFACTURING: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
    9.4 GOVERNMENT & DEFENSE 
           9.4.1 NEED TO MANAGE AND TRACK LARGE FLEET OF ASSETS IN REAL-TIME AND REDUCE MISSION ASSET DOWNTIME TO BOOST DEMAND
                    TABLE 59 GOVERNMENT & DEFENSE: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 60 GOVERNMENT & DEFENSE: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
    9.5 CHEMICALS 
           9.5.1 HIGH MAINTENANCE AND REPAIR COSTS OF ASSETS AROUND HAZARDOUS CHEMICAL INVENTORY TO DRIVE ADOPTION
                    TABLE 61 CHEMICALS: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 62 CHEMICALS: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
    9.6 TELECOMMUNICATIONS 
           9.6.1 ABILITY TO VISUALIZE COMPLEX NETWORKS AND OPTIMIZE ASSET OPERATIONS TO DRIVE MARKET
                    TABLE 63 TELECOMMUNICATIONS: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 64 TELECOMMUNICATIONS: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
    9.7 HEALTHCARE & PHARMACEUTICALS 
           9.7.1 GROWING NEED FOR LEVERAGING ASSET DATA TO REDUCE HEALTH EQUIPMENT DOWNTIME TO SUPPORT MARKET GROWTH
                    TABLE 65 HEALTHCARE & PHARMACEUTICALS: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 66 HEALTHCARE & PHARMACEUTICALS: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
    9.8 CONSUMER GOODS, FOOD & BEVERAGES 
           9.8.1 NEED FOR OPTIMIZATION OF SUPPLY CHAIN TO ACCELERATE ADOPTION OF ASSET PERFORMANCE MANAGEMENT SOLUTIONS
                    TABLE 67 CONSUMER GOODS, FOOD & BEVERAGES: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 68 CONSUMER GOODS, FOOD & BEVERAGES: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
    9.9 OTHER VERTICALS 
           TABLE 69 OTHER VERTICALS: MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
           TABLE 70 OTHER VERTICALS: MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
 
10 ASSET PERFORMANCE MANAGEMENT MARKET, BY REGION (Page No. - 136)
     10.1 INTRODUCTION 
               FIGURE 39 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
               TABLE 71 MARKET SIZE, BY REGION, 2019–2022 (USD MILLION)
               TABLE 72 MARKET SIZE, BY REGION, 2023–2028 (USD MILLION)
     10.2 NORTH AMERICA 
             10.2.1 NORTH AMERICA: MARKET DRIVERS
             10.2.2 NORTH AMERICA: RECESSION IMPACT
                       FIGURE 40 NORTH AMERICA: MARKET SNAPSHOT
                       TABLE 73 NORTH AMERICA: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY COMPONENT, 2019–2022 (USD MILLION)
                       TABLE 74 NORTH AMERICA: MARKET SIZE, BY COMPONENT, 2023–2028 (USD MILLION)
                       TABLE 75 NORTH AMERICA: MARKET SIZE, BY SOLUTION, 2019–2022 (USD MILLION)
                       TABLE 76 NORTH AMERICA: MARKET SIZE, BY SOLUTION, 2023–2028 (USD MILLION)
                       TABLE 77 NORTH AMERICA: MARKET SIZE, BY SERVICES, 2019–2022 (USD MILLION)
                       TABLE 78 NORTH AMERICA: MARKET SIZE, BY SERVICES, 2023–2028 (USD MILLION)
                       TABLE 79 NORTH AMERICA: MARKET SIZE, BY PROFESSIONAL SERVICES, 2019–2022 (USD MILLION)
                       TABLE 80 NORTH AMERICA: MARKET SIZE, BY PROFESSIONAL SERVICES, 2023–2028 (USD MILLION)
                       TABLE 81 NORTH AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                       TABLE 82 NORTH AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                       TABLE 83 NORTH AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                       TABLE 84 NORTH AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
                       TABLE 85 NORTH AMERICA: MARKET SIZE, BY VERTICAL, 2019–2022 (USD MILLION)
                       TABLE 86 NORTH AMERICA: MARKET SIZE, BY VERTICAL, 2023–2028 (USD MILLION)
                       TABLE 87 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2019–2022 (USD MILLION)
                       TABLE 88 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2023–2028 (USD MILLION)
             10.2.3 US
                       10.2.3.1 Rising adoption of advanced digital technologies to drive market for asset performance management
                                   TABLE 89 US: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                                   TABLE 90 US: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                                   TABLE 91 US: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                                   TABLE 92 US: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
             10.2.4 CANADA
                       10.2.4.1 Rising adoption of cloud across asset-centric organizations to boost market
                                   TABLE 93 CANADA: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                                   TABLE 94 CANADA: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                                   TABLE 95 CANADA: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                                   TABLE 96 CANADA: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
     10.3 EUROPE 
             10.3.1 EUROPE: MARKET DRIVERS
             10.3.2 EUROPE: RECESSION IMPACT
                       TABLE 97 EUROPE: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY COMPONENT, 2019–2022 (USD MILLION)
                       TABLE 98 EUROPE: MARKET SIZE, BY COMPONENT, 2023–2028 (USD MILLION)
                       TABLE 99 EUROPE: MARKET SIZE, BY SOLUTION, 2019–2022 (USD MILLION)
                       TABLE 100 EUROPE: MARKET SIZE, BY SOLUTION, 2023–2028 (USD MILLION)
                       TABLE 101 EUROPE: MARKET SIZE, BY SERVICES, 2019–2022 (USD MILLION)
                       TABLE 102 EUROPE: MARKET SIZE, BY SERVICES, 2023–2028 (USD MILLION)
                       TABLE 103 EUROPE: MARKET SIZE, BY PROFESSIONAL SERVICES, 2019–2022 (USD MILLION)
                       TABLE 104 EUROPE: MARKET SIZE, BY PROFESSIONAL SERVICES, 2023–2028 (USD MILLION)
                       TABLE 105 EUROPE: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                       TABLE 106 EUROPE: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                       TABLE 107 EUROPE: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                       TABLE 108 EUROPE: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
                       TABLE 109 EUROPE: MARKET SIZE, BY VERTICAL, 2019–2022 (USD MILLION)
                       TABLE 110 EUROPE: MARKET SIZE, BY VERTICAL, 2023–2028 (USD MILLION)
                       TABLE 111 EUROPE: MARKET SIZE, BY COUNTRY, 2019–2022 (USD MILLION)
                       TABLE 112 EUROPE: MARKET SIZE, BY COUNTRY, 2023–2028 (USD MILLION)
             10.3.3 UK
                       10.3.3.1 Increasing demand for robust solutions to enhance organizational performance to fuel market
                                   TABLE 113 UK: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                                   TABLE 114 UK: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                                   TABLE 115 UK: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                                   TABLE 116 UK: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
             10.3.4 GERMANY
                       10.3.4.1 Growing need to streamline maintenance operations to create demand for asset performance management
                                   TABLE 117 GERMANY: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                                   TABLE 118 GERMANY: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                                   TABLE 119 GERMANY: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                                   TABLE 120 GERMANY: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
             10.3.5 FRANCE
                       10.3.5.1 Availability of highly skilled asset performance management professionals contributing to market growth
                                   TABLE 121 FRANCE: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                                   TABLE 122 FRANCE: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                                   TABLE 123 FRANCE: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                                   TABLE 124 FRANCE: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
             10.3.6 REST OF EUROPE
                       TABLE 125 REST OF EUROPE: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                       TABLE 126 REST OF EUROPE: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                       TABLE 127 REST OF EUROPE: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                       TABLE 128 REST OF EUROPE: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
     10.4 ASIA PACIFIC 
             10.4.1 ASIA PACIFIC: MARKET DRIVERS
             10.4.2 ASIA PACIFIC: RECESSION IMPACT
                       FIGURE 41 ASIA PACIFIC: ASSET PERFORMANCE MANAGEMENT MARKET SNAPSHOT
                       TABLE 129 ASIA PACIFIC: MARKET SIZE, BY COMPONENT, 2019–2022 (USD MILLION)
                       TABLE 130 ASIA PACIFIC: MARKET SIZE, BY COMPONENT, 2023–2028 (USD MILLION)
                       TABLE 131 ASIA PACIFIC: MARKET SIZE, BY SOLUTION, 2019–2022 (USD MILLION)
                       TABLE 132 ASIA PACIFIC: MARKET SIZE, BY SOLUTION, 2023–2028 (USD MILLION)
                       TABLE 133 ASIA PACIFIC: MARKET SIZE, BY SERVICES, 2019–2022 (USD MILLION)
                       TABLE 134 ASIA PACIFIC: MARKET SIZE, BY SERVICES, 2023–2028 (USD MILLION)
                       TABLE 135 ASIA PACIFIC: MARKET SIZE, BY PROFESSIONAL SERVICES, 2019–2022 (USD MILLION)
                       TABLE 136 ASIA PACIFIC: MARKET SIZE, BY PROFESSIONAL SERVICES, 2023–2028 (USD MILLION)
                       TABLE 137 ASIA PACIFIC: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                       TABLE 138 ASIA PACIFIC: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                       TABLE 139 ASIA PACIFIC: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                       TABLE 140 ASIA PACIFIC: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
                       TABLE 141 ASIA PACIFIC: MARKET SIZE, BY VERTICAL, 2019–2022 (USD MILLION)
                       TABLE 142 ASIA PACIFIC: MARKET SIZE, BY VERTICAL, 2023–2028 (USD MILLION)
                       TABLE 143 ASIA PACIFIC: MARKET SIZE, BY COUNTRY, 2019–2022 (USD MILLION)
                       TABLE 144 ASIA PACIFIC: MARKET SIZE, BY COUNTRY, 2023–2028 (USD MILLION)
             10.4.3 CHINA
                       10.4.3.1 Increased adoption of new technologies, such as IIoT, mobile, and cloud, to drive demand
                                   TABLE 145 CHINA: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                                   TABLE 146 CHINA: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                                   TABLE 147 CHINA: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                                   TABLE 148 CHINA: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
             10.4.4 JAPAN
                       10.4.4.1 Shift toward digital transformation and focus on lowering TCO to fuel market growth
                                   TABLE 149 JAPAN: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                                   TABLE 150 JAPAN: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                                   TABLE 151 JAPAN: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                                   TABLE 152 JAPAN: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
             10.4.5 INDIA
                       10.4.5.1 Ongoing digital transformation and adoption of Industry 4.0 technologies to boost demand
                                   TABLE 153 INDIA: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                                   TABLE 154 INDIA: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                                   TABLE 155 INDIA: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                                   TABLE 156 INDIA: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
             10.4.6 REST OF ASIA PACIFIC
                       TABLE 157 REST OF ASIA PACIFIC: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                       TABLE 158 REST OF ASIA PACIFIC: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                       TABLE 159 REST OF ASIA PACIFIC: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                       TABLE 160 REST OF ASIA PACIFIC: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
     10.5 MIDDLE EAST & AFRICA 
             10.5.1 MIDDLE EAST & AFRICA: MARKET DRIVERS
             10.5.2 MIDDLE EAST & AFRICA: RECESSION IMPACT
                       TABLE 161 MIDDLE EAST & AFRICA: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY COMPONENT, 2019–2022 (USD MILLION)
                       TABLE 162 MIDDLE EAST & AFRICA: MARKET SIZE, BY COMPONENT, 2023–2028 (USD MILLION)
                       TABLE 163 MIDDLE EAST & AFRICA: MARKET SIZE, BY SOLUTION, 2019–2022 (USD MILLION)
                       TABLE 164 MIDDLE EAST & AFRICA: MARKET SIZE, BY SOLUTION, 2023–2028 (USD MILLION)
                       TABLE 165 MIDDLE EAST & AFRICA: MARKET SIZE, BY SERVICES, 2019–2022 (USD MILLION)
                       TABLE 166 MIDDLE EAST & AFRICA: MARKET SIZE, BY SERVICES, 2023–2028 (USD MILLION)
                       TABLE 167 MIDDLE EAST & AFRICA: MARKET SIZE, BY PROFESSIONAL SERVICES, 2019–2022 (USD MILLION)
                       TABLE 168 MIDDLE EAST & AFRICA: MARKET SIZE, BY PROFESSIONAL SERVICES, 2023–2028 (USD MILLION)
                       TABLE 169 MIDDLE EAST & AFRICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                       TABLE 170 MIDDLE EAST & AFRICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                       TABLE 171 MIDDLE EAST & AFRICA: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                       TABLE 172 MIDDLE EAST & AFRICA: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
                       TABLE 173 MIDDLE EAST & AFRICA: MARKET SIZE, BY VERTICAL, 2019–2022 (USD MILLION)
                       TABLE 174 MIDDLE EAST & AFRICA: MARKET SIZE, BY VERTICAL, 2023–2028 (USD MILLION)
                       TABLE 175 MIDDLE EAST & AFRICA: MARKET SIZE, BY COUNTRY, 2019–2022 (USD MILLION)
                       TABLE 176 MIDDLE EAST & AFRICA: MARKET SIZE, BY COUNTRY, 2023–2028 (USD MILLION)
             10.5.3 SAUDI ARABIA
                       10.5.3.1 Stringent regulatory framework and compliance standards to boost growth of MARKET
                                   TABLE 177 SAUDI ARABIA: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                                   TABLE 178 SAUDI ARABIA: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                                   TABLE 179 SAUDI ARABIA: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                                   TABLE 180 SAUDI ARABIA: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
             10.5.4 UAE
                       10.5.4.1 Rising need for predictive and prescriptive analytics to drive MARKET
                                   TABLE 181 UAE: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                                   TABLE 182 UAE: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                                   TABLE 183 UAE: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                                   TABLE 184 UAE: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
             10.5.5 SOUTH AFRICA
                       10.5.5.1 Large untapped market to offer opportunities for asset performance management companies
                                   TABLE 185 SOUTH AFRICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                                   TABLE 186 SOUTH AFRICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                                   TABLE 187 SOUTH AFRICA: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                                   TABLE 188 SOUTH AFRICA: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
             10.5.6 REST OF MIDDLE EAST & AFRICA
                       TABLE 189 REST OF MIDDLE EAST & AFRICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                       TABLE 190 REST OF MIDDLE EAST & AFRICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                       TABLE 191 REST OF MIDDLE EAST & AFRICA: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                       TABLE 192 REST OF MIDDLE EAST & AFRICA: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
     10.6 LATIN AMERICA 
             10.6.1 LATIN AMERICA: MARKET DRIVERS
             10.6.2 LATIN AMERICA: RECESSION IMPACT
                       TABLE 193 LATIN AMERICA: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY COMPONENT, 2019–2022 (USD MILLION)
                       TABLE 194 LATIN AMERICA: MARKET SIZE, BY COMPONENT, 2023–2028 (USD MILLION)
                       TABLE 195 LATIN AMERICA: MARKET SIZE, BY SOLUTION, 2019–2022 (USD MILLION)
                       TABLE 196 LATIN AMERICA: MARKET SIZE, BY SOLUTION, 2023–2028 (USD MILLION)
                       TABLE 197 LATIN AMERICA: MARKET SIZE, BY SERVICES, 2019–2022 (USD MILLION)
                       TABLE 198 LATIN AMERICA: MARKET SIZE, BY SERVICES, 2023–2028 (USD MILLION)
                       TABLE 199 LATIN AMERICA: MARKET SIZE, BY PROFESSIONAL SERVICES, 2019–2022 (USD MILLION)
                       TABLE 200 LATIN AMERICA: MARKET SIZE, BY PROFESSIONAL SERVICES, 2023–2028 (USD MILLION)
                       TABLE 201 LATIN AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                       TABLE 202 LATIN AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                       TABLE 203 LATIN AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                       TABLE 204 LATIN AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
                       TABLE 205 LATIN AMERICA: MARKET SIZE, BY VERTICAL, 2019–2022 (USD MILLION)
                       TABLE 206 LATIN AMERICA: MARKET SIZE, BY VERTICAL, 2023–2028 (USD MILLION)
                       TABLE 207 LATIN AMERICA: MARKET SIZE, BY COUNTRY, 2019–2022 (USD MILLION)
                       TABLE 208 LATIN AMERICA: MARKET SIZE, BY COUNTRY, 2023–2028 (USD MILLION)
             10.6.3 BRAZIL
                       10.6.3.1 Rapid digital transformation initiatives to support adoption of asset performance management solutions
                                   TABLE 209 BRAZIL: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                                   TABLE 210 BRAZIL: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                                   TABLE 211 BRAZIL: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                                   TABLE 212 BRAZIL: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
             10.6.4 MEXICO
                       10.6.4.1 Oil & gas and energy & utilities industries to drive MARKET
                                   TABLE 213 MEXICO: MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                                   TABLE 214 MEXICO: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                                   TABLE 215 MEXICO: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                                   TABLE 216 MEXICO: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
             10.6.5 REST OF LATIN AMERICA
                       TABLE 217 REST OF LATIN AMERICA: ASSET PERFORMANCE MANAGEMENT MARKET SIZE, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
                       TABLE 218 REST OF LATIN AMERICA: MARKET SIZE, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
                       TABLE 219 REST OF LATIN AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
                       TABLE 220 REST OF LATIN AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
 
11 COMPETITIVE LANDSCAPE (Page No. - 192)
     11.1 INTRODUCTION 
     11.2 MARKET SHARE OF TOP VENDORS 
               TABLE 221 ASSET PERFORMANCE MANAGEMENT: DEGREE OF COMPETITION
               FIGURE 42 MARKET SHARE ANALYSIS OF COMPANIES IN MARKET
     11.3 KEY PLAYER STRATEGIES 
             11.3.1 OVERVIEW OF STRATEGIES ADOPTED BY KEY ASSET PERFORMANCE MANAGEMENT VENDORS
     11.4 HISTORICAL REVENUE ANALYSIS OF TOP VENDORS 
               FIGURE 43 HISTORICAL THREE-YEAR REVENUE ANALYSIS OF LEADING PLAYERS IN MARKET, 2020–2022
     11.5 VENDOR PRODUCTS/BRANDS COMPARISON 
               TABLE 222 VENDOR PRODUCTS/BRANDS COMPARISON
     11.6 COMPANY EVALUATION QUADRANT, 2022 
             11.6.1 DEFINITIONS AND METHODOLOGY
                       FIGURE 44 COMPANY EVALUATION QUADRANT: CRITERIA WEIGHTAGE
             11.6.2 STARS
             11.6.3 EMERGING LEADERS
             11.6.4 PERVASIVE PLAYERS
             11.6.5 PARTICIPANTS
                       FIGURE 45 MARKET (GLOBAL): COMPANY EVALUATION MATRIX, 2022
                       TABLE 223 ASSET PERFORMANCE MANAGEMENT MARKET: COMPANY FOOTPRINT
     11.7 SMES/STARTUP EVALUATION QUADRANT 
             11.7.1 DEFINITIONS AND METHODOLOGY
                       FIGURE 46 STARTUP/SME EVALUATION MATRIX: CRITERIA WEIGHTAGE
             11.7.2 PROGRESSIVE COMPANIES
             11.7.3 RESPONSIVE COMPANIES
             11.7.4 DYNAMIC COMPANIES
             11.7.5 STARTING BLOCKS
                       FIGURE 47 MARKET (GLOBAL): STARTUP/SME EVALUATION MATRIX, 2022
             11.7.6 COMPETITIVE BENCHMARKING
                       TABLE 224 MARKET: DETAILED LIST OF KEY STARTUPS/SMES
                       TABLE 225 MARKET: STARTUP/SME FOOTPRINT
     11.8 KEY MARKET DEVELOPMENTS 
               TABLE 226 MARKET: NEW LAUNCHES, JANUARY 2020–JULY 2023
               TABLE 227 ASSET PERFORMANCE MANAGEMENT MARKET: DEALS, JANUARY 2020–JULY 2023
 
12 COMPANY PROFILES (Page No. - 215)
     12.1 MAJOR PLAYERS 
(Business Overview, Products/Solutions offered, Recent Developments, MnM View)*
             12.1.1 AVEVA
                       TABLE 228 AVEVA: COMPANY OVERVIEW
                       FIGURE 48 AVEVA: COMPANY SNAPSHOT
                       TABLE 229 AVEVA: PRODUCT AND SOLUTION OFFERINGS
                       TABLE 230 AVEVA: NEW LAUNCHES
                       TABLE 231 AVEVA: DEALS
             12.1.2 SAP
                       TABLE 232 SAP: COMPANY OVERVIEW
                       FIGURE 49 SAP: COMPANY SNAPSHOT
                       TABLE 233 SAP: PRODUCT OFFERINGS
                       TABLE 234 SAP: NEW LAUNCHES
                       TABLE 235 SAP: DEALS
             12.1.3 GE DIGITAL
                       TABLE 236 GE DIGITAL: COMPANY OVERVIEW
                       FIGURE 50 GENERAL ELECTRIC: COMPANY SNAPSHOT
                       TABLE 237 GE DIGITAL: PRODUCT OFFERINGS
                       TABLE 238 GE DIGITAL: NEW LAUNCHES
                       TABLE 239 GE DIGITAL: DEALS
             12.1.4 IBM
                       TABLE 240 IBM: COMPANY OVERVIEW
                       FIGURE 51 IBM: COMPANY SNAPSHOT
                       TABLE 241 IBM: PRODUCT AND SOLUTION OFFERINGS
                       TABLE 242 IBM: NEW LAUNCHES
                       TABLE 243 IBM: DEALS
             12.1.5 ABB
                       TABLE 244 ABB: COMPANY OVERVIEW
                       FIGURE 52 ABB: COMPANY SNAPSHOT
                       TABLE 245 ABB: PRODUCT AND SOLUTION OFFERINGS
                       TABLE 246 ABB: NEW LAUNCHES
                       TABLE 247 ABB: DEALS
             12.1.6 BENTLEY SYSTEMS
                       TABLE 248 BENTLEY SYSTEMS: COMPANY OVERVIEW
                       FIGURE 53 BENTLEY SYSTEMS: COMPANY SNAPSHOT
                       TABLE 249 BENTLEY SYSTEMS: PRODUCT AND SERVICE OFFERINGS
                       TABLE 250 BENTLEY SYSTEMS: NEW LAUNCHES
                       TABLE 251 BENTLEY SYSTEMS: DEALS
             12.1.7 EMERSON
                       TABLE 252 EMERSON: COMPANY OVERVIEW
                       FIGURE 54 EMERSON: COMPANY SNAPSHOT
                       TABLE 253 EMERSON: PRODUCT, SERVICE, AND SOLUTION OFFERINGS
                       TABLE 254 EMERSON: NEW LAUNCHES
                       TABLE 255 EMERSON: DEALS
             12.1.8 FLUKE
                       TABLE 256 FLUKE: COMPANY OVERVIEW
                       TABLE 257 FLUKE: PRODUCT AND SOLUTION OFFERINGS
             12.1.9 ROCKWELL AUTOMATION
                       TABLE 258 ROCKWELL AUTOMATION: COMPANY OVERVIEW
                       FIGURE 55 ROCKWELL AUTOMATION: COMPANY SNAPSHOT
                       TABLE 259 ROCKWELL AUTOMATION: PRODUCT AND SOLUTION OFFERINGS
                       TABLE 260 ROCKWELL AUTOMATION: NEW LAUNCHES
                       TABLE 261 ROCKWELL AUTOMATION: DEALS
             12.1.10 DNV
                       TABLE 262 DNV: COMPANY OVERVIEW
                       FIGURE 56 DNV: COMPANY SNAPSHOT
                       TABLE 263 DNV: PRODUCT AND SOLUTION OFFERINGS
     12.2 OTHER PLAYERS 
             12.2.1 SIEMENS ENERGY
             12.2.2 HEXAGON
             12.2.3 SAS
             12.2.4 ARMS RELIABILITY
             12.2.5 NEXUS GLOBAL
             12.2.6 SYNOPSYS
             12.2.7 DETECHTION TECHNOLOGIES
             12.2.8 ORACLE
             12.2.9 YOKOGAWA
             12.2.10 HONEYWELL
             12.2.11 PROMETHEUS GROUP
             12.2.12 OPERATIONAL SUSTAINABILITY
             12.2.13 IPS INTELLIGENT PROCESS SOLUTIONS
             12.2.14 PLASMA
             12.2.15 UPKEEP
             12.2.16 FRACTTAL
             12.2.17 MICROAI [FORMER ONE TECH]
             12.2.18 METORAPM
             12.2.19 VROC
             12.2.20 QUALER
             12.2.21 MAINTAINX
*Details on Business Overview, Products/Solutions offered, Recent Developments, MnM View might not be captured in case of unlisted companies
 
13 ADJACENT AND RELATED MARKETS (Page No. - 268)
     13.1 INTRODUCTION 
             13.1.1 RELATED MARKETS
     13.2 DIGITAL ASSET MANAGEMENT MARKET 
               TABLE 264 DIGITAL ASSET MANAGEMENT MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
               TABLE 265 DIGITAL ASSET MANAGEMENT MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
               TABLE 266 DIGITAL ASSET MANAGEMENT MARKET, BY BUSINESS FUNCTION, 2019–2022 (USD MILLION)
               TABLE 267 DIGITAL ASSET MANAGEMENT MARKET, BY BUSINESS FUNCTION, 2023–2028 (USD MILLION)
               TABLE 268 DIGITAL ASSET MANAGEMENT MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
               TABLE 269 DIGITAL ASSET MANAGEMENT MARKET, BY DEPLOYMENT TYPE, 2023–2028 (USD MILLION)
               TABLE 270 DIGITAL ASSET MANAGEMENT MARKET, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
               TABLE 271 DIGITAL ASSET MANAGEMENT MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
               TABLE 272 DIGITAL ASSET MANAGEMENT MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
               TABLE 273 DIGITAL ASSET MANAGEMENT MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
               TABLE 274 DIGITAL ASSET MANAGEMENT MARKET, BY REGION, 2019–2022 (USD MILLION)
               TABLE 275 DIGITAL ASSET MANAGEMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
     13.3 ENTERPRISE ASSET MANAGEMENT MARKET 
               TABLE 276 ENTERPRISE ASSET MANAGEMENT MARKET SIZE, BY COMPONENT, 2018–2021 (USD MILLION)
               TABLE 277 ENTERPRISE ASSET MANAGEMENT MARKET SIZE, BY COMPONENT, 2022–2027 (USD MILLION)
               TABLE 278 ENTERPRISE ASSET MANAGEMENT MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
               TABLE 279 ENTERPRISE ASSET MANAGEMENT MARKET SIZE, BY APPLICATION, 2022–2027 (USD MILLION)
               TABLE 280 ENTERPRISE ASSET MANAGEMENT MARKET, BY DEPLOYMENT MODEL, 2018–2021 (USD MILLION)
               TABLE 281 ENTERPRISE ASSET MANAGEMENT MARKET, BY DEPLOYMENT MODEL, 2022–2027 (USD MILLION)
               TABLE 282 ENTERPRISE ASSET MANAGEMENT MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
               TABLE 283 ENTERPRISE ASSET MANAGEMENT MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
               TABLE 284 ENTERPRISE ASSET MANAGEMENT MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
               TABLE 285 ENTERPRISE ASSET MANAGEMENT MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
               TABLE 286 ENTERPRISE ASSET MANAGEMENT MARKET, BY REGION, 2018–2021 (USD MILLION)
               TABLE 287 ENTERPRISE ASSET MANAGEMENT MARKET, BY REGION, 2022–2027 (USD MILLION)
 
14 APPENDIX (Page No. - 277)
     14.1 DISCUSSION GUIDE 
     14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     14.3 CUSTOMIZATION OPTIONS 
     14.4 RELATED REPORTS 
     14.5 AUTHOR DETAILS 

The study involved four major activities in estimating the current market size of the asset performance management market. Extensive secondary research was done to collect information on the market, the competitive market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the various segments in the asset performance management market.

Secondary Research

This research study used extensive secondary sources, directories, and databases, such as D&B Hoovers, DiscoverOrg, Factiva, vendor data sheets, product demos, Cloud Computing Association (CCA), Vendor Surveys, Asia Cloud Computing Association, and The Software Alliance. All these sources were referred to for identifying and collecting information useful for this technical, market-oriented, and commercial study of the asset performance management market.

Primary Research

Primary sources were several industry experts from the core and related industries, preferred software providers, hardware manufacturers, distributors, service providers, technology developers, alliances, and organizations related to all segments of the industry’s value chain. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information and assess the market’s prospects.

Primary interviews were conducted to gather insights, such as market statistics, the latest trends disrupting the market, new use cases implemented, data on revenue collected from products and services, market breakups, market size estimations, market forecasts, and data triangulation. Primary research also helped in understanding various trends related to technologies, segmentation types, industry trends, and regions. Demand-side stakeholders, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Security Officers (CSOs); the installation teams of governments/end users using asset performance management; and digital initiatives project teams, were interviewed to understand the buyer’s perspective on suppliers, products, service providers, and their current use of services, which would affect the overall asset performance management market.

Asset Performance Management Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and forecast the asset performance management market and other dependent submarkets. The bottom-up procedure was deployed to arrive at the overall market size using the revenues and offerings of key companies in the market. With data triangulation methods and validation through primary interviews, this study determined and confirmed the exact value of the overall parent market size. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segments.

In the bottom-up approach, the adoption trend of asset performance management among different industry verticals in key countries that contribute the most to the market was identified. For cross-validation, the adoption trend of asset performance management, along with different use cases with respect to their business segments, was identified and extrapolated. Weightage was given to the use cases identified in different solution areas for the calculation. An exhaustive list of all vendors offering asset performance management in the market was prepared. The revenue contribution of all vendors in the market was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Vendors with asset performance management offerings were considered to evaluate the market size. Each vendor was evaluated on the basis of its service offerings across verticals. The aggregate of all companies’ revenue was extrapolated to reach the overall market size. Each subsegment was studied and analyzed for its market size and regional penetration. Based on these numbers, the region split was determined through primary and secondary sources.

In the top-down approach, an exhaustive list of all vendors in the asset performance management market was prepared. The revenue contribution of all vendors in the market was estimated through their annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. The market size was estimated from revenues generated by vendors from different asset performance management offerings. Revenue generated from each service type (Consulting, Integration & Optimization, Implementation & Migration, and Application Development & Modernization) from different vendors were identified with the help of secondary and primary sources and combined to arrive at the market size. Further, the procedure included an analysis of the market’s regional penetration. With the data triangulation procedure and data validation through primaries, the exact values of the overall market size and its segments’ market size were determined and confirmed using the study. The primary procedure included extensive interviews for key insights from industry leaders, such as CEOs, VPs, directors, and marketing executives. These market numbers were further triangulated with the existing MarketsandMarkets’ repository for validation.

Asset Performance Management Market: Top-Down and Bottom-Up approaches

Asset Performance Management Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The data was triangulated by studying several factors and trends from both the demand and supply sides in the asset performance management market.

Market Definition

Considering the sources and associations’ views on asset performance management, MarketsandMarkets defines asset performance management as “a software solution that helps organizations track and manage the health of an organization's physical assets by analyzing key metrics such as uptime, mean time to repair, and asset longevity to aid decision-making that can lead to improved asset strategy management and reliability management. The goal of asset performance management is to help organizations in reducing unplanned downtime, decreasing maintenance costs, and reducing environmental, health and safety (EHS) risk.”

Key Stakeholders

  • Asset performance management solution providers
  • Asset performance management service providers
  • Independent software vendors (ISVs)
  • Investors and venture capitalists (VCs)
  • Managed service providers
  • Support and maintenance service providers
  • System integrators (SIs)/migration service providers
  • Value-added resellers (VARs) and distributors

Report Objectives

  • To define, describe, and forecast the global asset performance management market based on component (solutions and services), deployment type (on-premises and cloud), organization size (large enterprises and SMEs), vertical (energy & utilities, manufacturing, government & defense, chemicals, telecommunications, healthcare & pharmaceuticals, consumer goods, food & beverages, and other verticals), and region.
  • To forecast the market size of the five major regional segments: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America
  • To provide detailed information related to the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze macro and micromarkets with respect to growth trends, prospects, and their contributions to the overall market
  • To analyze industry trends, patents & innovations, and pricing data related to the asset performance management market.
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for major players.
  • To profile key players in the market and comprehensively analyze their market share/ranking and core-competencies.
  • To track and analyze competitive developments, such as mergers & acquisitions, new product launches, product enhancements, and partnerships & collaborations in the market.

Note 1. Micromarkets are defined as the further segments and subsegments of the market included in the report.
Note 2. Core-competencies of the companies are captured in terms of their key developments and key strategies adopted by them to sustain their position in the market.

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix provides a detailed comparison of the product portfolio of each company.

Geographic Analysis

  • Further breakup of the Asia Pacific market into countries contributing 75% to the regional market size
  • Further breakup of the North American market into countries contributing 75% to the regional market size
  • Further breakup of the Latin American market into countries contributing 75% to the regional market size
  • Further breakup of the Middle Eastern & African market into countries contributing 75% to the regional market size
  • Further breakup of the European market into countries contributing 75% to the regional market size

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
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Report Code
TC 7630
Published ON
Aug, 2023
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