Press release distribution to media in EMEA
  • Middle East
  • North Africa
  • Global
  • Business
  • Finance
  • Technology
  • Press
  • About Us
    • Press Release Distribution Services
    • Submit Press Release
    • Contact Us
Submit PR
No Result
View All Result
MENA NEWS | Press release distribution to media in UAE and MENA regions
  • Middle East
  • North Africa
  • Global
  • Business
  • Finance
  • Technology
  • Press
  • About Us
    • Press Release Distribution Services
    • Submit Press Release
    • Contact Us
Submit PR
No Result
View All Result
PR distribution to media in EMEA
Submit PR
Home Press

Asset Performance Management Market Size, Share, Revenue, Growth Rate, Services and Forecast 2026

admin by admin
March 21, 2022
in Press
Share on FacebookShare on Twitter


(EMAILWIRE.COM, March 21, 2022 ) The report “Asset Performance Management Market with COVID-19 Impact, by Component (Solutions (Asset Strategy, Asset Reliability, and Predictive Asset Management) and Services), Deployment Type, Organization Size, Vertical, and Region – Global Forecast to 2026″, size is expected to grow at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period, to reach USD 4.0 billion by 2026 from USD 2.5 billion in 2021. Key factors that are expected to drive the growth of the market are the rising demand to meet regulatory compliance and reporting standards across asset-centric organizations, growing need to manage assets efficiency, manage assets sustainability, and optimize total cost of ownership (TCO). These factors are driving the demand for asset performance management.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=72801714

Top Key Players

The asset performance management market comprises major providers, such as AVEVA (UK), AspenTech (US), Bentley Systems (US), GE Digital (US), SAP (Germany), IBM (US), Detechtion Technologies (US), ARMS Reliability (US), ABB (Switzerland), Uptake (US), DNV (Norway), SAS (US), Siemens Energy (Germany), Oracle (US), Infor (US), Nexus Global (US), BISTel (South Korea), Operational Sustainability (US), Rockwell Automation (US), IPS Intelligent Process Solutions (Germany), Yokogawa (Japan), Honeywell (US), Emerson (US), GrayMatter (US), and Plasma (US). The study includes an in-depth competitive analysis of key players in the asset performance management market with their company profiles, recent developments, COVID-19 developments, and key market strategies.

Services segment to hold a larger market size during the forecast period

Based on services, the asset performance management market is segmented into two categories: professional and managed services. These services assist in building, assessing, and leveraging asset performance management environments to avoid time wastage and effort on a failed implementation. Enterprises need active support from skilled professionals to minimize their downtime during the pre-and post-installation of asset performance management solutions. These services provide the necessary support to uphold the efficiency of business processes, increase enterprise growth, and reduce unwanted operational expenses.

SMEs segment to grow at the highest CAGR during the forecast period

SMEs are defined as organizations with an employee strength ranging from 1 to 1,000. SMEs have a low marketing budget and often lack the resources and capabilities for effective marketing orchestration. These enterprises face greater challenges of limited budget as compared to large enterprises and require better methods to resolve complexities for improving the cost optimization of their business processes. However, the SMEs segment is expected to grow at a higher CAGR during the forecast period. Asset Performance Management solutions monitor every asset and generates data. The generated data can allow technicians to perform more accurate root cause analysis. In this way, teams throughout the organization can understand the process parameters that can lead to failures or reduced asset performance, enabling them to align more effectively across the supply network; improving planning; and reducing inventory, loss-of-market, and logistics costs. These factors are also expected to encourage SMEs to adopt asset performance management solutions and services at a rapid pace.

Chemicals industry vertical to grow at the highest CAGR during the forecast period

Chemicals is one of the fastest-growing verticals with respect to the adoption of advanced technologies and services due to high maintenance and repair costs charged because of caustic substances and safety issues around hazardous chemical inventory. The continual expense of maintenance and the rising costs of materials have pushed various chemicals manufacturers into the process of finding bleeding-edge technology 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. In terms of a chemical plant, engineers will know when a component inside a reactor is wearing down before it fails.

Get sample of report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=72801714

North America to account for the highest market share during the forecast period

The asset performance management market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America. The asset performance management report provides insights into these regional markets in terms of market size, growth rates, future trends, market drivers, and COVID-19 impact. North America is expected to hold the highest market share in the overall asset performance management market during the forecast period. Following North America, Europe is expected to hold the second-highest market share during the forecast period. High need to streamline operational processes and adoption of predictive analytics for monitoring equipment health and receive early warnings is expected to drive the North American and Europe markets. APAC and MEA are also expected to witness high growth rates during the forecast period.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

Email: sales@marketsandmarkets.com



Source link

Previous Post

Afghanistan’s former finance minister is now Uber driver in Washington DC | Afghanistan

Next Post

Ducab to Experience Big Lift in the Power Industry Automation with Accely’s SAP EHS Solution

RelatedPosts

Press

Visual Effects (VFX) Market expected to grow at a CAGR of 8.2 percent during the forecast period

(EMAILWIRE.COM, March 27, 2023 ) As per the Maximize Market research, a global business and consultancy firm, the...

by admin
March 27, 2023
Power Grid Market worth $367.4 Billion by 2028
Press

Power Grid Market worth $367.4 Billion by 2028

 (EMAILWIRE.COM, March 27, 2023 ) The global Power Grid Market is projected to reach USD 367.4 billion in...

by admin
March 27, 2023
Metagenomic Sequencing Market: Continuous technological innovations in NGS platforms
Press

Metagenomic Sequencing Market: Continuous technological innovations in NGS platforms

 (EMAILWIRE.COM, March 27, 2023 ) The Growth in the metagenomic sequencing market is mainly driven by continuous technological...

by admin
March 27, 2023
Press

Graphene Nanoplatelets Market expected to grow at a CAGR 37.40 percent of during the forecast period

(EMAILWIRE.COM, March 27, 2023 ) As per the Maximize Market research, a global business and consultancy firm, the...

by admin
March 27, 2023
Load More

Advertize

Latest Post

Black Hats are becoming the biggest threats to Nigeria’s budding digital economy

Black Hats are becoming the biggest threats to Nigeria’s budding digital economy

by admin
March 29, 2023

USTR Releases 21st Annual Report to Congress on China’s WTO Compliance, while Biden Administration Releases its 2023 Trade Policy Agenda | Perspectives & Events

USTR Releases 21st Annual Report to Congress on China’s WTO Compliance, while Biden Administration Releases its 2023 Trade Policy Agenda | Perspectives & Events

by admin
March 29, 2023

Middle East airports need $151bn investment by 2040 – Arabian Business

by admin
March 27, 2023

Israeli parliament OKs 2023-24 state budget in preliminary vote

Israeli parliament OKs 2023-24 state budget in preliminary vote

by admin
March 27, 2023

French Refining Is Barely Running as Strikes Enter Week Four

French Refining Is Barely Running as Strikes Enter Week Four

by admin
March 27, 2023

How the U.S. Can Lead on Tech Regulation

How the U.S. Can Lead on Tech Regulation

by admin
March 27, 2023

MENANEWS provides press release distribution services for businesses, organizations and other entities with the need to reach media outlets in Europe, Middle east and Africa (MENANEWS) Submit press release or contact us today.

Share Us

CATEGORIES

MIDDLE EAST
NORTH AFRICA
GLOBAL
BUSINESS
FINANCE
TECHNOLOGY
PRESS

Subscribe To Our Newslatter

    © 2023 Copyright MENANEWS.CLUB
    No Result
    View All Result
    • Middle East
    • North Africa
    • Global
    • Business
    • Finance
    • Technology
    • Press
    • About Us
      • Press Release Distribution Services
      • Submit Press Release
      • Contact Us

    © Copyright MenaNews.club™