New ARC Advisory Group research on the Plant Asset Management Systems market reveals that the current generation of plant asset management systems has matured into Industrial IoT-enabled advanced analytics solutions that leverage machine learning and pattern recognition to predict asset failures. Leveraging these IoT-enabled asset monitoring technologies will provide opportunities for owner-operators to improve asset management processes to reap the benefits of reduced unplanned downtime and extend asset life with lower maintenance costs while enhancing overall business performance in innovative ways.
“Automation suppliers are aggressively targeting Industrial IoT-enabled services for remote monitoring and support of customer plant assets. The ability of the Industrial IoT to take large amounts of plant and asset data and put it into the Cloud for analysis provides a secure and cost-effective means to perform predictive analytics and provide SME guidance on how to improve plant operations, increase maintenance effectiveness, and avoid unplanned downtime,” according to Paula Hollywood, Senior Analyst at ARC Advisory Group and key author of ARC’s Plant Asset Management Systems Global Market Research 2017-2022 report.
About the Plant Asset Management Systems Research
This ARC research explores current and historical market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the plant asset management systems market. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modeling techniques. The research includes competitive analysis, plus five-year market forecasts by industry, asset type, application type, revenue category, sales channels, and communication network.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include a:
- Market Intelligence Workbook (Excel) – personalized spreadsheet includes one year of historical data in addition to the current base year market data and five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
- Concise Market Analysis Report (PDF) – provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues. The PDF is available with or without detailed charts.
For more information on this and other available ARC market research, please visit our Market Data & Studies section.