Sector to reach $14.4 billion by 2029 at 12.2% CAGR

DUBLIN, January 22, 2023 /PRNewswire/ — The “Industrial Asset Management Market by Supply, Deployment Mode, Asset Type and End-Use Industry and Geography – Global Forecast to 2029” report has been added to ResearchAndMarkets.com supply.

Research and Markets Logo

The research report titled provides an in-depth analysis of the industrial asset management market across five major geographies and focuses on current market trends, market size, market share, recent developments and forecast to 2029. The global industrial asset management market is projected to reach $14.4 billion by 2029, at a CAGR of 12.2% during the forecast period 2022-2029.

The growth of this market is driven by the benefits of cloud-based industrial asset management solutions and the growing need for real-time monitoring of industrial assets. In addition, integration of artificial intelligence, machine learning and 5G technologies and increasing adoption of industrial asset management solutions in the pharmaceutical sector are expected to create growth opportunities for players operating in this market.

Segment analysis

  • The automation asset segment is projected to register the highest CAGR during the forecast period. The large market share of this segment is due to the growing demand for efficient inventory tracking, better reporting and prevention of theft and misuse of IT assets; and increasing demand to reduce maintenance costs and ease the burden of audits.

  • The cloud-based deployment segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the growing need to reduce IT infrastructure costs, the benefits offered by IAM solutions and cloud-based services such as better availability, reduced IT costs and automatic updates, and the efforts of leading players in IAM to launch cloud asset monitoring services for industrial enterprises.

  • The pharmaceuticals segment is projected to register the highest CAGR during the forecast period. The high growth of this segment is due to the increasing need of pharmaceutical companies to monitor purchase orders (PO) and requisitions, process tickets, optimize equipment maintenance, gain real-time visibility into asset performance and ensure FDA compliance for drug development.

  • Asia-Pacific region accounts for the largest share of the industrial asset management market. This region is expected to witness rapid growth during the forecast period due to large number of industrial manufacturing industries operating in Asia-Pacific region and the rise in demand for cost-effective IAM solutions.

Key questions answered in the report

  • What are the high-growth market segments in terms of supply, asset type, deployment mode, and end-use industry?

  • What is the historical market for industrial asset management worldwide?

  • What are the market forecasts and estimates for the period 2022-2029?

  • What are the major drivers, restraints and opportunities in the global industrial asset management market?

  • Who are the major players in the global industrial asset management market and what market share do they hold?

  • Who are the main players in the different countries and what market share do they hold?

  • What is the competitive environment?

  • What are the latest developments in the global industrial asset management market?

  • What are the different strategies adopted by the major players in the Global Industrial Asset Management Market?

  • What are the geographic trends in high-growth countries?

  • Who are the emerging local players in the global industrial asset management market and how do they compete with other players?

Scope of the report:
Marketplace for industrial asset management, by supply

  • Solutions

  • Predictive maintenance solutions

  • Asset Lifecycle Management Solutions

  • Inventory management solutions

  • Reporting and analytics solutions

  • Other industrial asset management solutions

  • Services

  • Professional services

  • Managed Services

Industrial Asset Management Market, by Deployment Mode

  • Local deployment

  • Cloud-based deployment

Industrial Asset Management Market, by Asset Type

  • Automation assets

  • Conventional assets

Market for industrial asset management, by end-use industry

Market dynamics

Market drivers

Market restrictions

Market opportunities

  • Integrating artificial intelligence, machine learning and 5G technologies

  • Growing adoption of industrial asset management solutions in the pharmaceutical sector

Market challenges

Trends

Main topics covered:

1. Introduction

2. Research methodology

3. Summary

4. Impact of COVID-19 on the Industrial Asset Management Market

5. Market Insights

6. Global Industrial Asset Management Market, by Supply

7. Global Industrial Asset Management Market, by Deployment Mode

8. Global Industrial Asset Management Market, by Asset Type

9. Global Industrial Asset Management Market, by End User

10. Industrial Asset Management Market, by Geography

11. Competitive landscape

12. Company profiles (business overview, financial overview, product portfolio and strategic developments)

13. Application

The mentioned companies

  • ABB Ltd. (Switzerland)

  • Siemens AG (Germany)

  • Schneider Electric SE (France)

  • Emerson Electric Co. (USA)

  • Endress+Hauser Group Services AG (Switzerland)

  • General Electric (USA)

  • Honeywell International Inc. (USA)

  • Rockwell Automation Inc. (USA)

  • SKF Group (Sweden)

  • Yokogawa Electric Corporation (Japan).

For more information on this report, visit https://www.researchandmarkets.com/r/2w1szf

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We bring you the latest data on international and regional markets, key industries, leading companies, new products and the latest trends.

Media contact:

Research and Markets
Laura WoodSenior Manager
[email protected]

For EST hours Call +1-917-300-0470
For USA/Canada Call Toll Free +1-800-526-8630
For GMT business hours Call +353-1-416-8900

US Fax: 646-607-1907
Fax (outside USA): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

Sission

Sission

See original content: https://www.prnewswire.com/news-releases/industrial-asset-management-market-report-2023-sector-to-reach-14-4-billion-by-2029-at-a- 12-2-cagr-301727095.html

SOURCE Research and Markets

Leave a Comment

Your email address will not be published. Required fields are marked *