Market Overview:
The global plant asset management market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for plant asset management solutions due to the growing need for improved efficiency and safety in industrial plants. In addition, the increasing adoption of Industrial Internet of Things (IIoT) is also contributing to the growth of this market. The global plant asset management market by type is segmented into performance management, monitoring & controlling, information management, device configuration, and content management. The performance management segment is expected to grow at a CAGR of 11% from 2018 to 2030. This growth can be attributed to the increasing demand for real-time data analysis and optimization in industrial plants.
Product Definition:
Plant Asset Management (PAM) is a systematic process of managing physical assets in an organization. The goal of PAM is to ensure that the organization's physical assets are used efficiently and effectively to support its operations.
Performance Management:
Performance management is the process of measuring, analyzing and improving an organization's performance. It includes techniques such as financial analysis, operational efficiency analysis and strategic decision making. The factors that propel market growth include increasing competitiveness among organizations to achieve higher profit margins leading to increased adoption of performance management software by manufacturing companies for better business planning and decision making.
Monitoring & Controlling:
Plant Asset Management (PAM) is the practice of tracking and managing all plant assets in a company. It includes equipment maintenance, real-time monitoring, and controlling functions for energy efficiency & productivity improvement. Plant asset management solutions help companies improve profitability by reducing downtime through predictive analytics that provide alerts before failures occur.
Application Insights:
The others application segment includes aerospace and defense, infrastructure, manufacturing, and logistics. The segment accounted for the largest market share in 2017 owing to the wide applications of GMAM across various industries. Energy & power is expected to be one of the fastest-growing application sectors over the forecast period owing to rising demand for energy & power generation plants across countries such as China India Brazil Germany etc. Mining also accounted for a significant market share in 2017 due to increasing demand from end users such as construction equipment manufacturers Caterpillar Inc., Deere & Co., etc. Pharmaceuticals are expected to witness substantial growth over the forecast period due to growing demand from customers including Pfizer Inc., Johnson&Johnson, Novartis AG etc.
Petroleum is another important application sector where GMAM solutions are used onshore and offshore oil fields among other sites like refineries terminals pipelines storage tanks among others sites that require constant monitoring.
Regional Analysis:
The Asia Pacific regional market accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to rising investments in industrial automation, increasing adoption of cloud-based technologies, and growing demand for real-time data integration across various industries. Furthermore, rapid urbanization coupled with expanding manufacturing sector is anticipated to drive infrastructure development activities across emerging economies such as China and India. This will create significant demand for plant monitoring & controlling solutions over the next eight years.
North America region accounted for a significant market share owing to early adoption of asset management systems by several end users including oil & gas industry which has resulted in high product penetration rates across this region since 2010s. However, stringent regulatory scenario pertaining to safety norms may hinder industry growth at certain point of time but would eventually help companies gain compliance through effective implementation of Asset Management Systems (AMS). Moreover, presence of prominent players such as Honeywell International Inc.
Growth Factors:
- Increasing demand for food due to population growth
- Rising awareness about the benefits of plant asset management among industrialists
- Technological advancements in plant asset management software and hardware
- Growing number of small and medium-sized enterprises (SMEs) adopting plant asset management solutions
- Stringent government regulations mandating the use of plant asset management systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Plant Asset Management Market Research Report
By Type
Performance Management, Monitoring & Controlling, Information Management, Device Configuration, Content Management
By Application
Energy & Power, Petrochemical, Mining, Food & Beverage, Pharmaceutical, Others
By Companies
ABB Ltd, AB SKF, Emerson Electric Co, Endress+Hauser Management AG, General Electric Co, Honeywell International, Inc, Rockwell Automation, Inc, Schneider Electric SA, Siemens AG, Yokogawa Electric Corporation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
157
Number of Tables & Figures
110
Customization Available
Yes, the report can be customized as per your need.
Global Plant Asset Management Market Report Segments:
The global Plant Asset Management market is segmented on the basis of:
Types
Performance Management, Monitoring & Controlling, Information Management, Device Configuration, Content Management
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Energy & Power, Petrochemical, Mining, Food & Beverage, Pharmaceutical, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB Ltd
- AB SKF
- Emerson Electric Co
- Endress+Hauser Management AG
- General Electric Co
- Honeywell International, Inc
- Rockwell Automation, Inc
- Schneider Electric SA
- Siemens AG
- Yokogawa Electric Corporation
Highlights of The Plant Asset Management Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Performance Management
- Monitoring & Controlling
- Information Management
- Device Configuration
- Content Management
- By Application:
- Energy & Power
- Petrochemical
- Mining
- Food & Beverage
- Pharmaceutical
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Plant Asset Management Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Asset management is the process of managing a company's physical assets, such as land, buildings, and equipment. Asset managers also oversee a company's financial assets, such as cash and investments.
Some of the key players operating in the plant asset management market are ABB Ltd, AB SKF, Emerson Electric Co, Endress+Hauser Management AG, General Electric Co, Honeywell International, Inc, Rockwell Automation, Inc, Schneider Electric SA, Siemens AG, Yokogawa Electric Corporation.
The plant asset management market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Plant Asset Management Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Plant Asset Management Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Plant Asset Management Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Plant Asset Management Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Plant Asset Management Market Size & Forecast, 2018-2028
4.5.1 Plant Asset Management Market Size and Y-o-Y Growth
4.5.2 Plant Asset Management Market Absolute $ Opportunity
Chapter 5 Global Plant Asset Management Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Plant Asset Management Market Size Forecast by Type
5.2.1 Performance Management
5.2.2 Monitoring & Controlling
5.2.3 Information Management
5.2.4 Device Configuration
5.2.5 Content Management
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Plant Asset Management Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Plant Asset Management Market Size Forecast by Applications
6.2.1 Energy & Power
6.2.2 Petrochemical
6.2.3 Mining
6.2.4 Food & Beverage
6.2.5 Pharmaceutical
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Plant Asset Management Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Plant Asset Management Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Plant Asset Management Analysis and Forecast
9.1 Introduction
9.2 North America Plant Asset Management Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Plant Asset Management Market Size Forecast by Type
9.6.1 Performance Management
9.6.2 Monitoring & Controlling
9.6.3 Information Management
9.6.4 Device Configuration
9.6.5 Content Management
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Plant Asset Management Market Size Forecast by Applications
9.10.1 Energy & Power
9.10.2 Petrochemical
9.10.3 Mining
9.10.4 Food & Beverage
9.10.5 Pharmaceutical
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Plant Asset Management Analysis and Forecast
10.1 Introduction
10.2 Europe Plant Asset Management Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Plant Asset Management Market Size Forecast by Type
10.6.1 Performance Management
10.6.2 Monitoring & Controlling
10.6.3 Information Management
10.6.4 Device Configuration
10.6.5 Content Management
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Plant Asset Management Market Size Forecast by Applications
10.10.1 Energy & Power
10.10.2 Petrochemical
10.10.3 Mining
10.10.4 Food & Beverage
10.10.5 Pharmaceutical
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Plant Asset Management Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Plant Asset Management Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Plant Asset Management Market Size Forecast by Type
11.6.1 Performance Management
11.6.2 Monitoring & Controlling
11.6.3 Information Management
11.6.4 Device Configuration
11.6.5 Content Management
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Plant Asset Management Market Size Forecast by Applications
11.10.1 Energy & Power
11.10.2 Petrochemical
11.10.3 Mining
11.10.4 Food & Beverage
11.10.5 Pharmaceutical
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Plant Asset Management Analysis and Forecast
12.1 Introduction
12.2 Latin America Plant Asset Management Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Plant Asset Management Market Size Forecast by Type
12.6.1 Performance Management
12.6.2 Monitoring & Controlling
12.6.3 Information Management
12.6.4 Device Configuration
12.6.5 Content Management
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Plant Asset Management Market Size Forecast by Applications
12.10.1 Energy & Power
12.10.2 Petrochemical
12.10.3 Mining
12.10.4 Food & Beverage
12.10.5 Pharmaceutical
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Plant Asset Management Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Plant Asset Management Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Plant Asset Management Market Size Forecast by Type
13.6.1 Performance Management
13.6.2 Monitoring & Controlling
13.6.3 Information Management
13.6.4 Device Configuration
13.6.5 Content Management
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Plant Asset Management Market Size Forecast by Applications
13.10.1 Energy & Power
13.10.2 Petrochemical
13.10.3 Mining
13.10.4 Food & Beverage
13.10.5 Pharmaceutical
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Plant Asset Management Market: Competitive Dashboard
14.2 Global Plant Asset Management Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB Ltd
14.3.2 AB SKF
14.3.3 Emerson Electric Co
14.3.4 Endress+Hauser Management AG
14.3.5 General Electric Co
14.3.6 Honeywell International, Inc
14.3.7 Rockwell Automation, Inc
14.3.8 Schneider Electric SA
14.3.9 Siemens AG
14.3.10 Yokogawa Electric Corporation
