Plant Asset Management Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Offering (Software, Services), By Deployment (On-Premise, Cloud), By Industry Vertical (Food And Beverage, Automotive, Healthcare, Oil & Gas, Metallurgy, Energy & Power, Manufacturing) And Geography - Forecasts From 2019 To 2024

The plant asset management market is projected to grow at a CAGR of 8.58% to reach US$10.091 billion by 2024, from US$6.159 billion in 2018. The growing global competition is leading firms in different industry verticals to engage in strategies that enable them to generate higher profits. As such, the demand for plant asset management solutions is increasing on account of its ability to generate significant cost saving for the manufacturers by enabling system integration, improving interoperability, and overall operational monitoring.

This research study examines the current market trends related to demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the plant asset management value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.

Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and more efficient understanding of the plant asset management market.

Major industry players profiled as part of the report are Siemens AG, ABB, Endress+Hauser Management AG, and Emerson Electric Co. among others.

Plant Asset Management Market Scope:

Segmentation

The plant asset management market has been analyzed through following segments:

By Offering

Software

Services

By Deployment

On-Premise

Cloud

By Industry Vertical

Food and Beverage

Automotive

Healthcare

Oil & Gas

Metallurgy

Energy & Power

Manufacturing

By Geography

North America

USA

Canada

Mexico

Others

South America

Brazil

Argentina

Others

Europe

Germany

France

United Kingdom

Others

Middle East and Africa

Saudi Arabia

Israel

Others

Asia Pacific

China

Japan

India

Others

Frequently Asked Questions (FAQs)

Q1. What is the size of the global plant asset management market?
A1. Plant Asset Management Market was valued at US$6.159 billion in 2018. 

Q2. What will be the plant asset management market size by 2024?
A2. The plant asset management market is projected to reach a total market size of US$10.091 billion by 2024. 

Q3. What are the growth prospects for the plant asset management market?
A3. The global plant asset management market is projected to grow at a CAGR of 8.58% during the forecast period. 

Q4. What factors are anticipated to drive the plant asset management market growth?
A4. The demand for plant asset management solutions is increasing on account of their ability to generate significant cost saving for the manufacturers by enabling system integration, improving interoperability, and overall operational monitoring. 

Q5. Who are the major players in the plant asset management market?
A5. Major industry players profiled as part of the plant asset management market report are Siemens AG, ABB, Endress+Hauser Management AG, and Emerson Electric Co. among others.