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Market Leader - Remote Asset Management Market

The remote asset management market size is estimated to be USD 8.82 Billion in 2016 and is projected to reach USD 26.99 Billion by 2021, at a CAGR of 25.1%. Some of the major factors that are driving the growth of the remote asset management market include increasing IoT for efficient asset management in organizations and increased ROI opportunities from asset management solutions. Remote asset management market is propelled by the declining cost of IoT components leading to a cost-effective remote asset management solution deployment. The remote asset management solutions offered to different industries helps the enterprises with robust infrastructure, automation, asset management, and profitability.

Technological giants 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.) offer remote asset management solutions, platforms, and services to cater to the needs and demands of the market. These players have adopted various growth strategies such as expansions, mergers & acquisitions, partnerships, and new product launches. Partnerships and mergers & acquisitions have been the major strategical trends, accounting for more than half of the market share of all the growth strategies adopted by the major market players. 

Schneider Electric SE is a multinational corporation, headquartered in Rueil-Malmaison, France. It is a global specialist in energy and automation management. Schneider Electric is one of the leaders in providing energy management solutions and energy automation across varied industries such as data centers, solar, healthcare, education, manufacturing, and electric utilities. Schneider Electric has adopted a strategic mix of organic and inorganic growth strategies such as new product developments, partnerships, mergers & acquisitions, and business expansions. In 2016, Schneider Electric announced predictive performance manager for the power generation industry. This Asset Performance Management (APM) solution can drive greater operational efficiency that is safe, reliable, efficient, and sustainable while providing a digital framework to transform business value.

Similarly, Cisco Systems, Inc. is an American multinational technology conglomerate. It offers hardware, software, networking, and systems communications technology-based products & services to enterprise businesses, public agencies & institutions, telecommunication companies, commercial businesses, and personal residencies across the globe. Cisco’s core business offerings include routing, switching, & associated services such as comprehensive security and mobility solutions. Cisco Systems, Inc., in February 2016, partnered with Relauyr, an IoT company, offering the enterprise middlewarer. This partnership is aimed aiding customers to measure and manage all connected assets across multiple and unique environments, get more effective & efficient, drive cost savings & better business outcomes, get started on the digitization strategy, and differentiate & create business advantages.

Related 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

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