HOME Top Market Reports Remote Asset Management Market by Solution (RTLS, Predictive Maintenance, Analytics, Asset Condition Monitoring & Performance Management), Platform, Application (Building Automation, Healthcare, Retail, Production Monitoring) - Global Forecast to 2021

Remote Asset Management Market by Solution (RTLS, Predictive Maintenance, Analytics, Asset Condition Monitoring & Performance Management), Platform, Application (Building Automation, Healthcare, Retail, Production Monitoring) - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: March 2017
Report Code: TC 5109

 

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The remote asset management market is estimated to grow from USD 8.82 billion in 2016 to USD 26.99 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 25.1%.

Objectives of the Study:

  • To define, describe, and forecast the remote asset management market on the basis of five regions:  North America, Europe, APAC, Middle East and Africa (MEA), and Latin America
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze each subsegment with respect to individual growth trends, prospects, and contribution to the total market
  • To analyze the opportunities in the market for stakeholders by identifying high-growth segments of the remote asset management market
  • To strategically profile key players in the market and comprehensively analyze their core competencies in the market
  • To track and analyze competitive developments such as new product launches, mergers & acquisitions, partnerships, agreements, and collaborations in the global market

The research methodology used to estimate and forecast the remote asset management market begins with capturing data on key vendor revenues and the market size of the individual segments through secondary sources: industry associations such as IoT M2M Council, Automation World, and trade journals such as IEEE Internet of Things Journal. The vendor offerings are also taken into consideration to determine market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global remote asset management market from the individual technology segment. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key industry personnel, such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary discussion participants is depicted in the below figure:

Remote Asset Management Market

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

The remote asset management market ecosystem include technology vendors such as AT&T Inc. (Texas, U.S.), Cisco Systems, Inc. (California, U.S.), Hitachi, Ltd. (Tokyo, Japan), Infosys Limited (Karnataka, India), IBM Corporation (New York, U.S.), PTC Inc. (Massachusetts, U.S.), Rockwell Automation, Inc. (Wisconsin, U.S.), SAP SE (Wall Dorf, Germany), Schneider Electric SE (Rueil-Malmaison, France), and Verizon Communications, Inc. (New York, U.S.) which provide numerous IT and non-IT components required for remote asset management.

Key Target Audience

  • Government agencies
  • Remote asset management OEMs
  • Remote asset management service providers
  • System integrators
  • Consulting firms
  • Research organizations
  • Resellers and distributors
  • Managed service providers
  • IT service providers
  • Cloud service providers
  • IoT technology vendors
  • Regulatory authorities and associations

Scope of the Report

The research report categorizes the remote asset management market to forecast the revenues and analyze the trends in each of the following subsegments:

By Component 

  • Solution
    • Real-time location tracking
    • Streaming analytics
    • Asset condition monitoring
    • Predictive maintenance
    • Predictive maintenance
    • Surveillance and security
    • Network Bandwidth management
    • Asset Performance management
    • Others
  • Platform
    • Application management
    • Device management
    • Connectivity management
  • Service
    • Professional services
    • Managed services

By Application

  • Building automation
  • Remote healthcare and wellness
  • Smart retail
  • Utilities and smart grids
  • Production monitoring
  • Connected logistics and fleet management
  • Connected agriculture
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Middle East and Africa (MEA)
  • Latin America

Available Customizations

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

Geographic Analysis

  • Further country level breakdown of the North American Remote Asset Management Market
  • Further country level breakdown of the European Market
  • Further country level breakdown of the APAC Market
  • Further country level breakdown of the MEA Market
  • Further country level breakdown of the Latin American Market

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Vendor Dive Matrix Methodology
    2.5 Research Assumptions

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Market Opportunities in the Remote Asset Management Market
    4.2 Market By Region, 2016 vs 2021
    4.3 Market By Solution, 2016–2021
    4.4 Market Regions vs Solutions, 2016–2021
    4.5 Lifecycle Analysis, By Region, 2016
    4.6 Market Investment Scenario

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Component
           5.2.2 By Application
           5.2.3 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Iot Adoption Paving the Way for Efficient Asset Management
                    5.3.1.2 Optimizing Asset Lifecycle Offers A Huge Return on Investment for Asset Intensive Industries
                    5.3.1.3 Declining Cost of Iot Components Leading to Cost-Effective Remote Asset Management Solution Deployment
           5.3.2 Restraints
                    5.3.2.1 Expensive Asset Management Solutions A Limiting Factor for the Smes
           5.3.3 Opportunities
                    5.3.3.1 Cloud-Based Solutions With Real-Time Functionalities Offering Cost Benefits
                    5.3.3.2 Outsourcing Vendors of Asset Management Solutions Will Gain Recurring Revenue Stream From the Organizations
           5.3.4 Challenges
                    5.3.4.1 Asset Management Solutions Lack the Scalability to Accommodate Asset Proliferation and Byod
                    5.3.4.2 Agile Technological Changes Offer New Challenges to the Existing Vendors
                    5.3.4.3 Traditional Organizational Culture is A Major Hurdle for the Adoption of Remote Asset Management Solutions

6 Industry Trends (Page No. - 44)
    6.1 Introduction
    6.2 Strategic Benchmarking
    6.3 Regulatory Bodies in the Remote Asset Management Market
           6.3.1 CEN/ISO
           6.3.2 CENELEC/IEC
           6.3.3 ISO/IEC JTC 1
           6.3.4 ISO/IEC JTC 1/ SWG 5
           6.3.5 ISO/IEC JTC 1 /SC 3 1
           6.3.6 ISO/IEC JTC 1 /SC 2 7
           6.3.7 ISO/IEC JTC 1 /WG 7 SENSORS
           6.3.8 ETSI
           6.3.9 IEEE
           6.3.10 ITU-T

7 Remote Asset Management Market Analysis, By Component (Page No. - 47)
    7.1 Introduction

8 Remote Asset Management Market Analysis, By Solution (Page No. - 50)
    8.1 Introduction
    8.2 Real-Time Location System
    8.3 Streaming Analytics
    8.4 Predictive Maintenance
           8.4.1 Asset Condition Monitoring
           8.4.2 Asset Performance Management
    8.5 Surveillance and Security
    8.6 Network Bandwidth Management
    8.7 Mobile Workforce Management
    8.8 Others

9 Remote Asset Management Market Analysis, By Platform (Page No. - 62)
    9.1 Introduction
    9.2 Device Management
    9.3 Application Management
    9.4 Connectivity Management

10 Remote Asset Management Market Analysis, By Service (Page No. - 68)
     10.1 Introduction
     10.2 Professional Services
             10.2.1 Consulting Services
             10.2.2 Integration and Deployment
             10.2.3 Support and Maintenance Services
     10.3 Managed Services

11 Remote Asset Management Market Analysis, By Application (Page No. - 76)
     11.1 Introduction
     11.2 Building Automation
     11.3 Remote Healthcare and Wellness
     11.4 Smart Retail
     11.5 Production Monitoring
     11.6 Utilities and Smart Grids
     11.7 Connected Logistics and Fleet Management
     11.8 Connected Agriculture
     11.9 Others

12 Remote Asset Management Market Analysis, By Region (Page No. - 87)
     12.1 Introduction
     12.2 North America
     12.3 Europe
     12.4 Asia-Pacific
     12.5 Middle East and Africa
     12.6 Latin America

13 Competitive Landscape (Page No. - 110)
     13.1 Overview
     13.2 Remote Asset Management: Vendor Analysis
     13.3 Remote Asset Management Market: Key Growth Strategies, 2014–2017
     13.4 Competitive Situation and Trends
     13.5 Partnerships, Agreements, and Collaborations, 2014–2016
     13.6 New Product Launches, 2014–2016
     13.7 Mergers and Acquisitions, 2014–2017
     13.8 Business Expansions, 2016

14 Company Profiles (Page No. - 119)
     14.1 Introduction
(Overview, Products and Services, Financials, Strategy & Development)*
     14.2 AT&T Inc.
     14.3 Cisco Systems, Inc.
     14.4 Hitachi, Ltd.
     14.5 Schneider Electric SE
     14.6 PTC Inc.
     14.7 Infosys Limited
     14.8 International Business Machine Corporation
     14.9 Rockwell Automation, Inc.
     14.10 SAP SE
     14.11 Verizon Communications, Inc.

*Details on Overview, Products and Services, Financials, Strategy & Development Might Not Be Captured in Case of Unlisted Companies.

15 Key Innovators (Page No. - 146)
     15.1 Bosch Software Innovations GmbH
     15.2 Meridium, Inc.
     15.3 Siemens AG
     15.4 Vodafone Group PLC
     15.5 Rapidvalue Solutions

16 Appendix (Page No. - 149)
     16.1 Discussion Guide
     16.2 Knowledge Store: Marketsandmarkets Subscription Portal
     16.3 Introducing RT: Real-Time Market Intelligence
     16.4 Available Customization
     16.5 Related Reports
     16.6 Author Details


List of Tables (77 Tables)

Table 1 Remote Asset Management Market Size and Growth, 2014–2021 (USD Billion, Y-O-Y%)
Table 2 Market Size, By Component, 2014–2021 (USD Million)
Table 3 Market Size, By Solution, 2014–2021 (USD Million)
Table 4 Solutions: Market Size, By Region, 2014–2021 (USD Million)
Table 5 Real-Time Location System: Market Size, By Region, 2014–2021 (USD Million)
Table 6 Streaming Analytics: Market Size, By Region, 2014–2021 (USD Million)
Table 7 Predictive Maintenance: Market Size, By Type, 2014–2021 (USD Million)
Table 8 Predictive Maintenance: Market Size, By Region, 2014–2021 (USD Million)
Table 9 Asset Condition Monitoring: Market Size, By Region, 2014–2021 (USD Million)
Table 10 Asset Performance Management: Market Size, By Region, 2014–2021 (USD Million)
Table 11 Surveillance and Security: Market Size, By Region, 2014–2021 (USD Million)
Table 12 Network Bandwidth Management: Market Size, By Region, 2014–2021 (USD Million)
Table 13 Mobile Workforce Management: Market Size, By Region, 2014–2021 (USD Million)
Table 14 Others: Remote Asset Management Market Size, By Region, 2014–2021 (USD Million)
Table 15 Platforms: Market Size, By Type, 2014–2021 (USD Million)
Table 16 Platforms: Market Size, By Region, 2014–2021 (USD Million)
Table 17 Device Management: Market Size, By Region, 2014–2021 (USD Million)
Table 18 Application Management: Market Size, By Region, 2014–2021 (USD Million)
Table 19 Connectivity Management: Market Size, By Region, 2014–2021 (USD Million)
Table 20 Remote Asset Management Market Size, By Service, 2014–2021 (USD Million)
Table 21 Services: Market Size, By Region, 2014–2021 (USD Million)
Table 22 Professional Services: Market Size, By Type, 2014–2021 (USD Million)
Table 23 Professional Services: Market Size, By Region, 2014–2021 (USD Million)
Table 24 Consulting Services: Market Size, By Region, 2014–2021 (USD Million)
Table 25 Integration and Deployment: Market Size, By Region, 2014–2021 (USD Million)
Table 26 Support and Maintenance Services: Market Size, By Region, 2014–2021 (USD Million)
Table 27 Managed Services: Market Size, By Region, 2014–2021 (USD Million)
Table 28 Remote Asset Management Market Size, By Application, 2014–2021 (USD Million)
Table 29 Application: Market Size, By Region, 2014–2021 (USD Million)
Table 30 Building Automation: Market Size, By Region, 2014–2021 (USD Million)
Table 31 Remote Healthcare and Wellness: Market Size, By Region, 2014–2021 (USD Million)
Table 32 Smart Retail: Market Size, By Region, 2014–2021 (USD Million)
Table 33 Production Monitoring: Market Size, By Region, 2014–2021 (USD Million)
Table 34 Utilities and Smart Grids: Market Size, By Region, 2014–2021 (USD Million)
Table 35 Connected Logistics and Fleet Management: Market Size, By Region, 2014–2021 (USD Million)
Table 36 Connected Agriculture: Market Size, By Region, 2014–2021 (USD Million)
Table 37 Others: Market Size, By Region, 2014–2021 (USD Million)
Table 38 Remote Asset Management Market Size, By Region, 2014–2021 (USD Million)
Table 39 North America: Market Size, By Component, 2014–2021 (USD Million)
Table 40 North America: Market Size, By Solution, 2014–2021 (USD Million)
Table 41 North America: Predictive Maintenance Solution Market Size, By Type, 2014–2021 (USD Million)
Table 42 North America: Market Size, By Platform, 2014–2021 (USD Million)
Table 43 North America: Market Size, By Service, 2014–2021 (USD Million)
Table 44 North America: Remote Asset Management Professional Services Market Size, By Type, 2014–2021 (USD Million)
Table 45 North America: Professional Services Market Size, By Application, 2014–2021 (USD Million)
Table 46 Europe: Market Size, By Component, 2014–2021 (USD Million)
Table 47 Europe: Market Size, By Solution, 2014–2021 (USD Million)
Table 48 Europe: Predictive Maintenance Solution Market Size, By Type, 2014–2021 (USD Million)
Table 49 Europe: Market Size, By Platform, 2014–2021 (USD Million)
Table 50 Europe: Market Size, By Service, 2014–2021 (USD Million)
Table 51 Europe: Professional Services Market Size, By Type, 2014–2021 (USD Million)
Table 52 Europe: Professional Services Market Size, By Application, 2014–2021 (USD Million)
Table 53 Asia-Pacific: Remote Asset Management Market Size, By Component, 2014–2021 (USD Million)
Table 54 Asia-Pacific: Market Size, By Solution, 2014–2021 (USD Million)
Table 55 Asia-Pacific: Predictive Maintenance Solution Market Size, By Type, 2014–2021 (USD Million)
Table 56 Asia-Pacific: Market Size, By Platform, 2014–2021 (USD Million)
Table 57 Asia-Pacific: Market Size, By Service, 2014–2021 (USD Million)
Table 58 Asia-Pacific: Professional Services Market Size, By Type, 2014–2021 (USD Million)
Table 59 Asia-Pacific: Market Size, By Application, 2014–2021 (USD Million)
Table 60 Middle East and Africa: Market Size, By Component, 2014–2021 (USD Million)
Table 61 Middle East and Africa: Market Size, By Solution, 2014–2021 (USD Million)
Table 62 Middle East and Africa: Predictive Maintenance Solution Market Size, By Type, 2014–2021 (USD Million)
Table 63 Middle East and Africa: Market Size, By Platform, 2014–2021 (USD Million)
Table 64 Middle East and Africa: Market Size, By Service, 2014–2021 (USD Million)
Table 65 Middle East and Africa: Professional Services Market Size, By Type, 2014–2021 (USD Million)
Table 66 Middle East and Africa: Market Size, By Application, 2014–2021 (USD Million)
Table 67 Latin America: Remote Asset Management Market Size, By Component, 2014–2021 (USD Million)
Table 68 Latin America: Market Size, By Solution, 2014–2021 (USD Million)
Table 69 Latin America: Predictive Maintenance Solution Market Size, By Type, 2014–2021 (USD Million)
Table 70 Latin America: Market Size, By Platform, 2014–2021 (USD Million)
Table 71 Latin America: Market Size, By Service, 2014–2021 (USD Million)
Table 72 Latin America: Professional Services Market Size, By Type, 2014–2021 (USD Million)
Table 73 Latin America: Market Size, By Application, 2014–2021 (USD Million)
Table 74 Partnerships and Collaborations, 2014–2016
Table 75 New Product Launches, 2014–2016
Table 76 Mergers and Acquisitions, 2014–2017
Table 77 Business Expansions, 2016

List of Figures (46 Figures)

Figure 1 Global Remote Asset Management Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Vendor Dive Matrix: Criteria Weightage
Figure 7 Global Remote Asset Management Market Growth Rate, 2014–2021 (USD Billion, Y-O-Y %)
Figure 8 Top Three Fastest-Growing Segments for the Market During 2016–2021
Figure 9 North America is Expected to Hold the Largest Market Share in 2016
Figure 10 Government Initiatives are Driving the Market Towards Growth
Figure 11 Asia-Pacific is Expected to Witness the Highest Growth During the Forecast Period
Figure 12 Network Bandwidth Management is Expected to Grow at the Highest CAGR Among Solutions
Figure 13 Predictive Maintenance Solution is Expected to Lead the Remote Asset Management Market in Terms of Market Share in 2016
Figure 14 Market Segmentation By Component
Figure 15 Market Segmentation By Application
Figure 16 Market Segmentation By Region
Figure 17 Market Drivers, Restraints, Opportunities, and Challenges
Figure 18 Strategic Benchmarking: Partnerships, Agreements, and Acquisitions of Top Vendors
Figure 19 Solutions Segment is Expected to Hold the Major Share in the Market During the Forecast Period
Figure 20 Predictive Maintenance Solutions Segment to Hold the Largest Share in the Market, By Solution, During the Forecast Period
Figure 21 Device Management Platform is Expected to Hold the Major Market Share in the Remote Asset Management Market, By Platform, During the Forecast Period
Figure 22 Professional Services Segment to Hold the Major Market Share in the Remote Asset Management Market, By Service, During the Forecast Period
Figure 23 Connected Logistics and Fleet Management Application Segment to Hold the Major Market Share in the Remote Asset Management Market During the Forecast Period
Figure 24 North America to Be the Leading Region in Terms of Market Size During the Forecast Period
Figure 25 Asia-Pacific: Hot Spot for Market During the Forecast Period
Figure 26 Remote Asset Management Market: Business Offerings Analysis
Figure 27 Remote Asset Management Market: Business Strategies Analysis
Figure 28 Companies Adopted Organic and Inorganic Growth Strategies
Figure 29 Market Evaluation Framework
Figure 30 Battle for Market Share: Partnership, Agreement, and Collaboration, the Key Strategy
Figure 31 Geographic Revenue Mix of Top Market Players
Figure 32 AT&T Inc.: Company Snapshot
Figure 33 AT&T Inc.: SWOT Analysis
Figure 34 Cisco Systems, Inc.: Company Snapshot
Figure 35 Cisco Systems, Inc.: SWOT Analysis
Figure 36 Hitachi Ltd: Company Snapshot
Figure 37 Hitachi, Ltd.: SWOT Analysis
Figure 38 Schneider Electric SE.: Company Snapshot
Figure 39 Schneider Electric SE: SWOT Analysis
Figure 40 PTC Inc.: Company Snapshot
Figure 41 PTC Inc.: SWOT Analysis
Figure 42 Infosys Limited: Company Snapshot
Figure 43 IBM Corporation: Company Snapshot
Figure 44 Rockwell Automation, Inc.: Company Snapshot
Figure 45 SAP SE: Company Snapshot
Figure 46 Verizon Communications, Inc.: Company Snapshot

The remote asset management market size is expected to grow from USD 8.82 Billion in 2016 to USD 26.99 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 25.1%. The major drivers for the upsurge in demand for the market include declining cost of IoT components leading to a cost-effective remote asset management solution deployment, optimizing asset lifecycle offering a huge ROI (Return on Investment) for asset sensitive industries, and increasing adoption IoT technology and services.

The scope of this report covers the remote asset management market analysis by components (solution, platform, and service), applications, and regions. The surveillance and security solution segment is expected to grow at the highest CAGR during the forecast period. With remote surveillance and security solutions, assets can be accessed remotely via smart phone or tablet and integrated with security systems such as alarm and closed-circuit video cameras which enables the responsible personnel for actionable response.

The predictive maintenance solution segment is expected to have the largest market share during the forecast period. The predictive maintenance solutions are capable of accessing multiple data sources in real time. It aids in predicting asset failure or quality issues which reduce the unplanned downtime and maintenance costs.  Predictive maintenance is more beneficial than routine-based preventive maintenance as in the former solution, maintenance is provided when required whereas in latter solution there is an unnecessary wastage of money and time involved.

The connected logistics and fleet management is expected to have the largest market share in 2016 and estimated to grow at the significant CAGR during the forecast period. Connected logistics and fleet management is all about integrating advanced technologies with the existing transportation and logistics infrastructure, delivering real-time online information about reminder & alerts for vehicle maintenance, driver’s live performance and feedback, fleet/vehicle status (moving/stopped/idle), engine status, engine diagnostics, delivery status, delay status, and others. Asset tracking, monitoring, and management would help supply chain managers to locate, check status, fleet data, routing, scheduling, driver behavior, diagnostic, and others.

As per the geographic analysis, North America is likely to benefit from its technological advancements followed by robust internet infrastructure, widespread adoption of new technology, and the presence of strong domestic solution providers. This all have contributed towards the shift to smart infrastructure from conventional infrastructure. The need for better operational efficiency and business process at a low operating cost is expected to drive continuous growth in the remote asset management market.

Remote Asset Management Market

A few of the restraining factors that affect the growth of the market include expensive asset management solution, which would hamper the demand from SMEs (Small and Medium Enterprises). The remote asset management vendors profiled in the report include AT&T Inc. (Texas, U.S.), Cisco Systems, Inc. (California, U.S.), Hitachi, Ltd. (Tokyo, Japan), Infosys Limited (Karnataka, India), IBM Corporation (New York, U.S.), PTC Inc. (Massachusetts, U.S.), Rockwell Automation, Inc. (Wisconsin, U.S.), SAP SE (Wall Dorf, Germany), Schneider Electric SE (Rueil-Malmaison, France), and Verizon Communications, Inc. (New York, U.S.)

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