Asset Reliability Software & Services

This Asset Reliability Software & Services market research delivers current market analysis plus a five year market and technology forecast. The research is available in multiple editions including worldwide, all regions, and most major countries.

Asset Reliability Market: Artificial Intelligence and Analytics Drive Growth

According to ARC Advisory Group research, artificial intelligence and analytics are currently the hottest trends in the growing market for asset reliability software and services. The ability to parse enormous data sets to gain insight into asset health and performance enables manufacturing organizations to target their optimization efforts more finely than ever before. These techniques also introduce a new set of software-only suppliers to enter the reliability market that may not have the industry or process knowledge to be as effective as those with deep domain expertise. The market outlook remains upbeat for the asset reliability software and services solutions market, primarily driven by the accelerated adoption of AI and analytics for asset management applications.

Asset Reliability Software & Services Strategic Issues

Asset Reliability Market Trends In addition to providing a five-year market forecast, the Asset Reliability market research report provides detailed quantitative current market data and addresses key strategic issues as follows.

Embrace Digitalization

While critically important in today’s asset-intensive industries, Industrial IoT and PdM initiatives should be expanded and be viewed as foundational components for digital transformation initiatives. Companies that are just now focusing on digitalization are somewhat behind their peers, but are still not too late to get started. New digital technologies can augment asset reliability, maintenance, and operational processes to new levels of performance.

Improve Data Management

Multiple end users have shared with ARC that the inability to identify the correct asset record was a contributing factor in incidents involving significant loss. This is an excellent reason to make asset information the foundation for improved asset reliability as well as digital transformation. The hallmarks of good asset information are complete, accessible, current, and trustworthy. Good asset information can provide the basis for the plant’s license to operate by improving risk management, decreasing unplanned shutdowns/slowdowns, increasing productivity, reducing supply chain costs, and reducing the time needed to commission assets. Managing asset data provides a sustainable path forward.

Integrate Different Asset Management Solutions

IoT, edge computing, and analytics provide a deeper understanding of maintenance needs that is central to the effectiveness of modern APM systems. Owner/operators should make sure that the functions in their applications meet expectations for ease-of-use, analysis, and systems integration. For successful asset management operations, it is crucial that users integrate their different asset management solutions. When information and data is easily transferred between different applications, it simplifies the job of maintenance and operations staff. Without integration, key data remains siloed and never leveraged to its full potential by different APM systems.

Asset Reliability Research Formats and Editions Available

This market research may be purchased as a MIRA Service, an Excel Workbook, and/or as a Market Analysis Report (PDF). MIRA Services help unlock the full benefits of ARC’s market intelligence, making the data more actionable for you by adding qualitative context to our market data in an online environment unique to each customer. Regional editions include country and industry market data. Formats available are listed below:

MIRA Services MIRA Workbook Market Analysis PDF
Annual Subscription Yes No No
Worldwide (includes regional data) Yes Yes Yes
North America (includes regional data) Yes Yes No
Europe, Middle East, Africa (includes regional data) Yes Yes No
Asia (includes regional data) Yes Yes No
Latin America (includes regional data) Yes Yes No

Table of contents for this research is shown in the following paragraphs.

Worldwide Research Focus Areas

​Strategic Analysis

  • Major Market Trends
  • Executive Overview
  • Strategies for Buyers
  • Strategies for Suppliers
  • Growth Contributors and Inhibitors

Competitive Analysis

  • Market Shares of the Leading Suppliers
  • Market Shares by Region
    • North America
    • Europe, Middle East, Africa
    • Asia
    • Latin America
  • Market Shares by Revenue Category
    • Software
    • Services
  • Market Shares by Service Type
    • Consulting
    • Implementation
    • Maintenance
  • Market Shares by Industry
    • Aerospace & Defense
    • Chemical
    • Electric Power Generation
    • Electric Power T&D
    • Food & Beverage
    • Metals
    • Mining
    • Oil & Gas
    • Pharmaceutical & Biotech
    • Pulp & Paper
    • Refining
    • Transportation
    • Water & Wastewater
  • Market Shares by Reliability Methodology
    • Instrument Calibration Management
    • Integrity Management
    • Lifecycle Costing
    • Master Data Management
    • Preventative Maintenance
    • Qualitative Reliability-Centered Maintenance
    • Regulatory Integrity Level Analysis
    • Reliability Analysis
    • Reliability, Availability, and Maintainability
    • Risk-Based Maintenance
    • Root Cause Analysis
    • Spares and Inventory Management
  • Market Shares by Software Deployment
    • Cloud
    • Hosted
    • On Premise
  • Market Shares by Sales Channel

Market Forecast and Histories

  • Total Asset Reliability Software & Services Business
  • Shipments by Region
    • North America
    • Europe, Middle East, Africa
    • Asia
    • Latin America
  • Shipments by Revenue Category
    • Software
    • Services
  • Service Revenues by Type
    • Consulting
    • Implementation
    • Maintenance
  • Shipments by Industry
    • Aerospace & Defense
    • Chemical
    • Electric Power Generation
    • Electric Power T&D
    • Food & Beverage
    • Metals
    • Mining
    • Oil & Gas
    • Pharmaceutical & Biotech
    • Pulp & Paper
    • Refining
    • Transportation
    • Water & Wastewater
  • Shipments by Reliability Methodology
    • Instrument Calibration Management
    • Integrity Management
    • Lifecycle Costing
    • Master Data Management
    • Preventative Maintenance
    • Qualitative Reliability-Centered Maintenance
    • Regulatory Integrity Level Analysis
    • Reliability Analysis
    • Reliability, Availability, and Maintainability
    • Risk-Based Maintenance
    • Root Cause Analysis
    • Spares and Inventory Management
  • Software Revenues by Software Deployment
    • Cloud
    • Hosted
    • On Premise
  • Shipments by Sales Channel

Industry Participants

The research identifies relevant suppliers serving this market.

Regional Research Focus Areas

Strategic Analysis

Competitive Analysis

  • Leading Suppliers in Region
  • Industry Shares in Region
  • Country Shares in Region
  • Leading Suppliers by Industry

Market Forecast & History Analysis

  • Market Forecast & History by Country
  • Market Forecast & History by Industry

Industry Participants

List of countries included in each region: MIRA-Country

For More Information

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