Market Research Future Insights:
According to MRFR analysis, the global Asset Performance Management (APM) Market is expected to register a CAGR of 11.1% from 2022 to 2030 and hold a value of over USD 30.5 billion by 2030. Asset Performance Management (APM) is a system of practices, tools, and software that help organizations monitor, analyze, and optimize the performance of their assets, such as equipment, machines, and infrastructure. A
PM systems are used to improve asset reliability, reduce maintenance costs, increase productivity, and minimize downtime. The COVID-19 pandemic has had a mixed impact on the APM market. On the one hand, the pandemic has led to increased demand for APM systems as organizations look for ways to optimize their assets and reduce maintenance costs. On the other hand, the pandemic has also led to supply chain disruptions and economic uncertainty, which has affected the adoption of APM systems.
Key Players:
Some of the market key players are :
- Aspen Technology (US)
- AVEVA Group PLC (UK)
- Bentley Systems Incorporated (US)
- Detechtion Technologies (Canada)
- IBM Corporation (US)
- Operational Sustainability LLC (US)
- Rockwell Automation (US)
- SAP SE (Germany)
- SAS Institute Inc. (US)
- Schneider Electric (France)
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Market Segmentation:
The Global APM market has been segmented into Offering, Deployment Mode and Vertical.
Based on Offering: Software Type and Services
Based on Deployment Mode: On-premises and Cloud
Based on Vertical: Food & Beverages: Energy and Utility, Manufacturing, Logistics & Transport & Supply Chain, Chemicals and Others
Regional Analysis:
Regionally, the APM market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America is expected to hold the largest share of the APM market due to the presence of several major APM vendors and the high adoption rate of APM systems in the region. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to the increasing adoption of APM systems in emerging economies such as China and India.
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