Plant Asset Management Market Research Report: Information by Offering (Software, Service), by Deployment Mode (Offline, Cloud), by Asset Type (Production Asset, Automation Asset), by End-User (Chemical, Aerospace and Defense) by Region - Global Forecast till 2027
ID: MRFR/ICT/1256-HCR | February 2021 | Region: Global | 110 pages
Market Overview:
Around the world, Plant Asset Management Market is relied upon to develop from USD 5.20 billion out of 2017 to USD 8.78 billion by 2023, at a CAGR of 9.5% during the figure time frame.
Plant Asset Management Industry the board is training to enhance tasks and gain the most extreme advantages from every one of the elaborate resources in an office. It is a cycle of upgrading field gadgets and observing their working; this data is utilized to improve the working machine execution, subsequently diminishing support cost and documentation. Plant Asset Management Market is an expense cutting technique utilized in various modern plants; it predicts potential resource disappointments and prudent steps expected to limit the vacation as per the size of a mechanical plant. Plant resource the board evaluates the state of resources and utilizes various innovations like ultrasonic vibration and demonstrating programming to secure and gauge a resource's strength.
The Plant Asset Management Market Size is driven by the rising interest for cloud-based plant resource the board arrangement. The reception of lean assembling rehearsing, the prerequisite of continuous information investigation, and expanding interest for disappointment discovery programming also push market development. Plant Asset Management Market Opportunities in businesses offer effective plant authorizing, give far off gadget definition, thorough checking of interaction basic gadgets, and empowers clients to oversee gadgets or boundaries in plant distantly. Interest for a cloud-based plant resource is developing, and it is the board arrangement that drives the plant resource to the executives market.
Receiving lean assembling work on, requiring continuous information examination, and developing interest for applications for disappointment discovery likewise drives market development. Developing mindfulness about the reception of ease-producing plants, the rising client needs, and developing patterns in incorporating IT and operational innovation, among others, are key variables driving development in the plant resource the board area. Plant Asset Management Market Size is likewise projected to grow at the most noteworthy speed over the figure time frame. This is because of the rising IoT market and an expanding request from end-client businesses for innovations.
COVID-19 Analysis:
Plant Asset Management Market Share board frameworks are explicitly intended to decide wellbeing data of logical resources from the information installed in different control frameworks, savvy field gadgets, and a few sensors in a scientific motor. The insightful motor aids logical activities and proactively predicts and settles the issues. Plant Asset Management Market Growth, the board frameworks discover applications in and extend different creation and mechanization resources across the globe. Rising appropriation of mechanization frameworks to improve creation limit in measure ventures is filling the market development during the pandemic.
Besides, different sorts of computerization frameworks, including dispersed control frameworks and programmable rationale regulators, are utilized in a few businesses, which has animated the development of the plant resource the board market. The COVID-19 pandemic has quickly spread across the globe and has affected a couple of businesses emphatically, while most others have been influenced contrarily. Governments have forced limitations binding individuals to their homes as a prudent step to contain the pandemic's spread. The Plant Asset Management Market Share a rising number of individuals remaining at home has helped the interest for quicker web network and information move, which is required to build the market development.
Market Dynamics:
Drivers
- The major market driver is a more far-reaching documentation prerequisite. Plant Asset Management Market Trends exercises in sun-oriented plant tasks, extensions, exchanges, and acquisitions require far-reaching documentation on resources, including numerous specialized, monetary, operational, and consistent data.
- Dealing with these documentations can be irksome because of their enormous volumes and intricacies. Yet, the executives' resources can deal with these exercises precisely and effectively, saving supervisors both time and cash.
Opportunities
- Plant Asset Management Market Opportunities may likewise expect it preceded with portfolio union and enhancement to arrive at economies of scale and catch new market openings.
Restraints
- Notwithstanding, portfolio development, combination, and enhancement additionally bring numerous administration challenges as financial backers need to oversee bigger and more intricate portfolios.
- This converts into needs for keen administration procedures given by resource the board programming.
Challenges
- Developing mindfulness about the selection of ease fabricating plants, rising client needs, and developing patterns in incorporating IT and operational innovation, among others, are Plant Asset Management Market Key Players driving development in the plant resource the executive’s area.
- The executive's market's plant resource is additionally projected to extend at the most elevated speed over the gauge time frame. This is because of the rising IoT market and an expanding request from end-client enterprises for innovations.
Cumulative Growth Analysis
- Main considerations powering the development incorporates flooding selection of lean assembling rehearses by a few associations, expanding center around giving cloud-based Plant Asset Management Market answers for fulfilling client requests, heightening interest for resource the board programming.
- It can distinguish likely disappointments to keep away from modern misfortune and developing requirements for on-going information investigation.
Technology Analysis
Developing mindfulness about the appropriation of ease-producing plants, the rising client needs, and developing patterns in incorporating IT and operational innovation, among others, are key elements driving development in the Plant Asset Management Market area. The executive's market's plant resource is likewise projected to extend at the most noteworthy speed over the estimated time frame. This is because of the rising IoT market and an expanding request from end-client businesses for innovations.
Segment Overview:
By Offerings
- Based on offerings, this report on Plant Asset Management Market Segments as follows, covering all contributions in the plant resource the executives as follows: Software and Services
By Asset type
- This report on Plant Asset Management Market additionally covers in detail different organization advancements of plant resource the board, a portion of the significant arrangement advances shrouded in the report are Cloud (on the web) and disconnected
By Resources
- This report on Plant Asset Management Market Segments likewise covers in detail different resource kinds of plant resource the executives, a portion of the significant resource types shrouded in the report are Production and Automation
By end-user
- This report on Plant Asset Management additionally covers in detail different end-use businesses of plant resource the board, a portion of the significant end-use enterprises canvassed in the report are Process (energy and force, substance, paper and mash, metal and mining) and Discrete (aviation and Defense, auto, clinical gadgets, hardware, and semiconductor)
By Region
- This Plant Asset Management Market Study, the executives, has been additionally fragmented into significant districts, which incorporates point by point examination of every area, for example, North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW), covering all the significant nation-level business sectors in every one of the region.
Regional Analysis
The worldwide business local examination was directed in four significant areas, including Asia Pacific, North America, Europe, and the world's remainder. Due to the presence of various fundamental players and sellers in the territory, Asia-Pacific is relied upon to rule the plant resource the executives market. The developing sunlight-based equipment, energy and force ventures, and auto businesses also drive the district's marked improvement. The rising economy has prompted development in Japan, India, China, and other Asian nations as the ventures receive plant resources on the board to limit upkeep costs. This pattern is Plant Asset Management Market Demand development as unfamiliar interest in the area is developing. Because of the quickly expanding modern base and rising rivalry among the major parts in the locale, the quickest developing business sector is relied upon to be the Asia-Pacific market.
Competitive Landscape
List of Plant Asset Management Market Key Players:
- Endress+Hauser Management AG (Switzerland)
- Hitachi Ltd
- Honeywell International Inc. (US)
- Dassault Systèmes (France)
- General Electric Co. (US)
- IBM Corporation (US)
- Rockwell Automation, Inc. (US)
- Emerson Electric Company (US)
- Yokogawa Electric Corporation (Japan)
- Siemens AG (Germany)
Recent Developments
- Yokogawa conveys another plant resource, the executive’s arrangement known as Plant Asset Management Market Share, that empowers computerized change in IIoT-period applications. PRM will viably digitalize and break down enormous information from every single distant resource, uphold prescient upkeep, and improve measure tasks.
- Emerson presented the Plant Asset Management Market Study Asset Monitor edge examination gadget, which digitalizes fundamental resource information and investigation for better task execution and improved dynamic. AMS Asset Monitor gives significant bits of knowledge into fundamental resources recently observed distinctly with rare appraisals. The new edge examination gadget will associate with Emerson's Plantweb Optics resource execution stage to furnish key tasks faculty with moment resource wellbeing subtleties for activities and upkeep dynamic.
Report Overview:
- Market overview highlights the global recognition of the Plant Asset Management Market.
- Analysis based upon COVID 19
- Explanation upon the Market Dynamics
- Value chain analysis for the Plant Asset Management Market Forecast.
- Market segmentation overview
- The regional analysis of the Plant Asset Management Market
- Competitive landscape analysis
- Recent Developments of Plant Asset Management Market
The report is meant to highlight the global Plant Asset Management Market growth potential in terms of its revenue hike by the end of the forecast years in 2028.
The segmentation table is as follows:
By Offerings
- Software
- Services
By Asset type
- Cloud (on the web)
- Disconnected
By Resources
- Production
- Automation
By end-user
- Process
- Discrete
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Rest of the World (RoW)
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
|
| CAGR | 9.5% (2017-2023) |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Offering, by Deployment Mode, by Asset Type |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Endress+Hauser Management AG (Switzerland), Honeywell International Inc. (US), General Electric Co. (US), Rockwell Automation, Inc. (US) , Siemens AG (Germany), Yokogawa Electric Corporation (Japan), Emerson Electric Company (US), Dassault Systèmes (France), IBM Corporation (US), and Hitachi Ltd. |
| Key Market Opportunities |
|
| Key Market Drivers | Interest for a cloud-based plant resource is developing, and it is the board arrangement that drives the plant resource to the executives market. |
Frequently Asked Questions (FAQ) :
Plant Asset Management Market Forecast to arrive at USD 9.4 billion in 2024.
Plant Asset Management Market Demand the executives market in APAC is relied upon to develop at the most noteworthy CAGR.
Plant Asset Management Market Trends type fragment to acquire the most noteworthy footing in the board market's worldwide plant resource.
TABLE OF CONTENTS
1. Executive Summary
2. Scope of the Report
2.1. Market Definition
2.2. Scope of the Study
2.2.1. Research Objectives
2.2.2. Assumptions & Limitations
2.3. Markets Structure
3. Market Research Methodology
3.1. Research Process
3.2. Secondary Research
3.3. Primary Research
3.4. Forecast Model
4. Market Landscape
4.1. Porter’s Five Forces Analysis
4.1.1. Threat of New Entrants
4.1.2. Bargaining power of buyers
4.1.3. Threat of substitutes
4.1.4. Rivalry
4.1.5. Bargaining Power of Suppliers
4.2. Value Chain/Supply Chain of Global Plant Asset Management Market
5. Market Overview of Global Plant Asset Management Market
5.1. Introduction
5.2. Growth Drivers
5.3. Impact Analysis
5.4. Market Challenges
6. Market Trends
6.1. Introduction
6.2. Growth Trends
6.3. Impact Analysis
7. Global Plant Asset Management Market, by Offering
7.1. Introduction
7.2. Software
7.2.1. Market Estimates & Forecast, 2020-2027
7.2.2. Market Estimates & Forecast, by Region, 2020-2027
7.3. Services
7.3.1.1. Market Estimates & Forecast, 2020-2027
7.3.1.2. Market Estimates & Forecast, by Region, 2020-2027
8. Global Plant Asset Management Market, by Deployment
8.1. Introduction
8.2. Offline Deployment
8.2.1. Market Estimates & Forecast, 2020-2027
8.2.2. Market Estimates & Forecast, by Region, 2020-2027
8.3. Cloud Deployment
8.3.1.1. Market Estimates & Forecast, 2020-2027
8.3.1.2. Market Estimates & Forecast, by Region, 2020-2027
9. Global Plant Asset Management Market, by Asset Type
9.1. Introduction
9.2. Production Assets
9.2.1. Market Estimates & Forecast, 2020-2027
9.2.2. Market Estimates & Forecast, by Region, 2020-2027
9.3. Automation Assets
9.3.1.1. Market Estimates & Forecast, 2020-2027
9.3.1.2. Market Estimates & Forecast, by Region, 2020-2027
10. Global Plant Asset Management Market, by End-User Industry
10.1. Introduction
10.2. Chemical
10.2.1.1. Market Estimates & Forecast, 2020-2027
10.2.1.2. Market Estimates & Forecast, by Region, 2020-2027
10.3. Energy and Power
10.3.1.1. Market Estimates & Forecast, 2020-2027
10.3.1.2. Market Estimates & Forecast, by Region, 2020-2027
10.4. Food and Beverages
10.4.1.1. Market Estimates & Forecast, 2020-2027
10.4.1.2. Market Estimates & Forecast, by Region, 2020-2027
10.5. Oil and Gas
10.5.1.1. Market Estimates & Forecast, 2020-2027
10.5.1.2. Market Estimates & Forecast, by Region, 2020-2027
10.6. Pharmaceutical
10.6.1.1. Market Estimates & Forecast, 2020-2027
10.6.1.2. Market Estimates & Forecast by Region, 2020-2027
10.7. Aerospace and Defense
10.7.1.1. Market Estimates & Forecast, 2020-2027
10.7.1.2. Market Estimates & Forecast, by Region, 2020-2027
10.8. Automotive
10.8.1.1. Market Estimates & Forecast, 2020-2027
10.8.1.2. Market Estimates & Forecast, by Region, 2020-2027
11. Global Plant Asset Management Market, by Region
11.1. Introduction
11.2. North America
11.2.1. Market Estimates & Forecast, by Country 2020-2027
11.2.2. Market Estimates & Forecast, by Offering, 2020-2027
11.2.3. Market Estimates & Forecast, by Deployment, 2020-2027
11.2.4. Market Estimates & Forecast, by Asset Type, 2020-2027
11.2.5. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.2.6. US
11.2.6.1. Market Estimates & Forecast, by Offering, 2020-2027
11.2.6.2. Market Estimates & Forecast, by Deployment, 2020-2027
11.2.6.3. Market Estimates & Forecast, by Asset Type, 2020-2027
11.2.6.4. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.2.7. Mexico
11.2.7.1. Market Estimates & Forecast, by Offering, 2020-2027
11.2.7.2. Market Estimates & Forecast, by Deployment, 2020-2027
11.2.7.3. Market Estimates & Forecast, by Asset Type, 2020-2027
11.2.7.4. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.2.8. Canada
11.2.8.1. Market Estimates & Forecast, by Offering, 2020-2027
11.2.8.2. Market Estimates & Forecast, by Deployment, 2020-2027
11.2.8.3. Market Estimates & Forecast, by Asset Type, 2020-2027
11.2.8.4. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.3. Europe
11.3.1. Market Estimates & Forecast, by Country 2020-2027
11.3.2. Market Estimates & Forecast, by Offering, 2020-2027
11.3.3. Market Estimates & Forecast, by Deployment, 2020-2027
11.3.4. Market Estimates & Forecast, by Asset Type, 2020-2027
11.3.5. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.3.6. Germany
11.3.6.1. Market Estimates & Forecast, by Offering, 2020-2027
11.3.6.2. Market Estimates & Forecast, by Deployment, 2020-2027
11.3.6.3. Market Estimates & Forecast, by Asset Type, 2020-2027
11.3.6.4. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.3.7. France
11.3.7.1. Market Estimates & Forecast, by Offering, 2020-2027
11.3.7.2. Market Estimates & Forecast, by Deployment, 2020-2027
11.3.7.3. Market Estimates & Forecast, by Asset Type, 2020-2027
11.3.7.4. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.3.8. UK
11.3.8.1. Market Estimates & Forecast, by Offering, 2020-2027
11.3.8.2. Market Estimates & Forecast, by Deployment, 2020-2027
11.3.8.3. Market Estimates & Forecast, by Asset Type, 2020-2027
11.3.8.4. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.4. Asia-Pacific
11.4.1. Market Estimates & Forecast, by Country 2020-2027
11.4.2. Market Estimates & Forecast, by Offering, 2020-2027
11.4.3. Market Estimates & Forecast, by Deployment, 2020-2027
11.4.4. Market Estimates & Forecast, by Asset Type, 2020-2027
11.4.5. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.4.6. China
11.4.6.1. Market Estimates & Forecast, by Offering, 2020-2027
11.4.6.2. Market Estimates & Forecast, by Deployment, 2020-2027
11.4.6.3. Market Estimates & Forecast, by Asset Type, 2020-2027
11.4.6.4. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.4.7. India
11.4.7.1. Market Estimates & Forecast, by Offering, 2020-2027
11.4.7.2. Market Estimates & Forecast, by Deployment, 2020-2027
11.4.7.3. Market Estimates & Forecast, by Asset Type, 2020-2027
11.4.7.4. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.4.8. Japan
11.4.8.1. Market Estimates & Forecast, by Offering, 2020-2027
11.4.8.2. Market Estimates & Forecast, by Deployment, 2020-2027
11.4.8.3. Market Estimates & Forecast, by Asset Type, 2020-2027
11.4.8.4. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.4.9. Rest of Asia-Pacific
11.4.9.1. Market Estimates & Forecast, by Offering, 2020-2027
11.4.9.2. Market Estimates & Forecast, by Deployment, 2020-2027
11.4.9.3. Market Estimates & Forecast, by Asset Type, 2020-2027
11.4.9.4. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.5. Rest of the World
11.5.1. Market Estimates & Forecast, by Country 2020-2027
11.5.2. Market Estimates & Forecast, by Offering, 2020-2027
11.5.3. Market Estimates & Forecast, by Deployment, 2020-2027
11.5.4. Market Estimates & Forecast, by Asset Type, 2020-2027
11.5.5. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.5.6. Middle East & Africa
11.5.6.1. Market Estimates & Forecast, by Offering, 2020-2027
11.5.6.2. Market Estimates & Forecast, by Deployment, 2020-2027
11.5.6.3. Market Estimates & Forecast, by Asset Type, 2020-2027
11.5.6.4. Market Estimates & Forecast, by End-User Industry, 2020-2027
11.5.7. Latin Countries
11.5.7.1. Market Estimates & Forecast, by Offering, 2020-2027
11.5.7.2. Market Estimates & Forecast, by Deployment, 2020-2027
11.5.7.3. Market Estimates & Forecast, by Asset Type, 2020-2027
11.5.7.4. Market Estimates & Forecast, by End-User Industry, 2020-2027
12. Company Profiles
12.1. General Electric Co.
12.1.1. Company Overview
12.1.2. Product/Business Segment Overview
12.1.3. Financial Updates
12.1.4. Key Developments
12.2. Endress+Hauser Management AG
12.2.1. Company Overview
12.2.2. Product/Business Segment Overview
12.2.3. Financial Updates
12.2.4. Key Developments
12.3. Rockwell Automation, Inc.
12.3.1. Company Overview
12.3.2. Product/Business Segment Overview
12.3.3. Financial Updates
12.3.4. Key Developments
12.4. Honeywell International, Inc.
12.4.1. Company Overview
12.4.2. Product/Business Segment Overview
12.4.3. Financial Updates
12.4.4. Key Developments
12.5. Siemens AG
12.5.1. Company Overview
12.5.2. Product/Business Segment Overview
12.5.3. Financial Updates
12.5.4. Key Developments
12.6. Yokogawa Electric Corporation
12.6.1. Company Overview
12.6.2. Product/Business Segment Overview
12.6.3. Financial Updates
12.6.4. Key Developments
12.7. Dassault Systèmes
12.7.1. Company Overview
12.7.2. Product/Business Segment Overview
12.7.3. Financial Updates
12.7.4. Key Developments
12.8. Emerson Electric Company
12.8.1. Company Overview
12.8.2. Product/Business Segment Overview
12.8.3. Financial Updates
12.8.4. Key Developments
12.9. IBM Corporation
12.9.1. Company Overview
12.9.2. Product/Business Segment Overview
12.9.3. Financial Updates
12.9.4. Key Developments
12.10. Hitachi Ltd.
12.10.1. Company Overview
12.10.2. Product/Business Segment Overview
12.10.3. Financial Updates
12.10.4. Key Developments
13. Conclusion
LIST OF TABLES
Table1 Global Plant Asset Management Market, By Country, 2020-2027
Table2 North America: Plant Asset Management Market, By Country, 2020-2027
Table3 Europe: Plant Asset Management Market, By Country, 2020-2027
Table4 Asia-Pacific: Plant Asset Management Market, By Country, 2020-2027
Table5 Latin America: Plant Asset Management Market, By Country, 2020-2027
Table6 North America: Plant Asset Management Market, By Country
Table7 North America: Plant Asset Management Market, By Offering
Table8 North America: Plant Asset Management Market, By Deployment
Table9 North America: Plant Asset Management Market, By Asset Type
Table10 North America: Plant Asset Management Market, By End-User Industry
Table11 Europe: Plant Asset Management Market, By Country
Table12 Europe: Plant Asset Management Market, By Offering
Table13 Europe: Plant Asset Management Market, By Deployment
Table14 Europe: Plant Asset Management Market, By Asset Type
Table15 Europe: Plant Asset Management Market, By End-User Industry
Table16 Asia-Pacific: Plant Asset Management Market, By Country
Table17 Asia-Pacific Plant Asset Management Market, By Offering
Table18 Asia-Pacific: Plant Asset Management Market, By Deployment
Table19 Asia-Pacific: Plant Asset Management Market, By Asset Type
Table20 Asia-Pacific Plant Asset Management Market, By End-User Industry
Table21 Middle East & Africa: Plant Asset Management Market, By Country
Table22 Middle East & Africa: Plant Asset Management Market, By Offering
Table23 Middle East & Africa: Plant Asset Management Market, By Deployment
Table24 Middle East & Africa: Plant Asset Management Market, By Asset Type
Table25 Middle East & Africa: Plant Asset Management Market, By End-User Industry
Table26 Latin America: Plant Asset Management Market, By Country
Table27 Latin America: Plant Asset Management Market, By Offering
Table28 Latin America: Plant Asset Management Market, By Deployment
Table29 Latin America: Plant Asset Management Market, By Asset Type
Table30 Latin America: Plant Asset Management Market, By End-User Industry
LIST OF FIGURES
Figure 1 Global Plant Asset Management Market segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of Global Plant Asset Management Market
Figure 4 Value Chain of Global Plant Asset Management Market
Figure 5 Share of Plant Asset Management Market in 2020, by country (in %)
Figure 6 Global Plant Asset Management Market, 2020-2027
Figure 7 Share of Global Plant Asset Management Market by Industry, 2020-2027
Figure 8 Global Plant Asset Management Market Size, by Offering, 2020
Figure 9 Share of Global Plant Asset Management Market, by Offering, 2020-2027
Figure 10 Global Plant Asset Management Market Size, by Deployment, 2020
Figure 11 Share of Global Plant Asset Management Market, by Deployment, 2020-2027
Figure 12 Global Plant Asset Management Market Size, by Asset Type, 2020
Figure 13 Share of Global Plant Asset Management Market, by Asset Type, 2020-2027
Figure 14 Global Plant Asset Management Market Size, by End-User Industry, 2020
Figure 15 Share of Global Plant Asset Management Market, by End-User Industry, 2020-2027