Despite the current social and economic turmoil surrounding the COVID-19 pandemic, ARC Advisory Group remains optimistic that the global market for industrial asset performance management (APM)-related solutions will rebound strongly over the long term.
According to Inderpreet Shoker, senior analyst at ARC Advisory Group and key author of ARC’s Asset Performance Management Global Market Research report, “While the bulk of this research was performed prior to the current crisis, ARC’s model already factored in a certain degree of economic uncertainty. This pointed to a short-term slowdown, followed by significant market growth toward the end of the five-year forecast period. We believe this is still valid for three reasons. First, once resolved, the current crisis is likely to create a significant backlog in demand. Second, despite economic constraints, no industrial organization can afford to ignore asset management and reliability over the long term. And third, advanced APM solutions enable remote support across an enterprise, a key element for digital transformation.”
The ARC market research report covers five key APM segments: enterprise asset management (EAM), plant asset management (PAM), field service management (FSM), asset integrity management (AIM), and asset reliability. This research explores current market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the overall asset performance management global market. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts by region, industry, and product type.
