Convergence in the Plant Asset Management (PAM) Market

IoIT is Driving Next Generation of Performance Improvement through Predictive/Prescriptive Insights

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Plant Asset Management (PAM) technologies are shifting the next generation of performance improvements from the current practices that are focused on preventing asset failure towards practices focused on optimizing asset performance. Industry initiatives, including Industry 4.0, Smart Manufacturing, and applications of Internet of Industrial Things (IoIT) technologies are revolutionizing operations and maintenance, enabling the cost-effective connectivity of a wide variety of asset classes. PAM suppliers should leverage IoIT technologies for increased value from PAM investment.

Table of Contents

Convergence in the Plant Asset Management (PAM) MarketExecutive SummaryKey FindingsIndustrial Asset Management—Strategies and TechnologiesAsset Management Strategies—From Reactive to Predictive/ProactiveAsset Management TechnologiesPlant Asset Management (PAM)—Overview and SegmentationCondition Monitoring System (CMS)Asset Reliability SystemAsset Performance Management (APM) SystemChanging Landscape of Plant Asset Management MarketMajor Trends of the Plant Asset Management MarketPartnership Trend—Providing Solutions from Condition Monitoring to Predictive MaintenanceConsolidation Trend—Quest for Providing Comprehensive Asset Management SolutionsConsolidation Trend—Gaining Expertise for Integrated Offering from Plant to Enterprise LevelEmerging Service Trend—Performance-based Asset Analytics ServicesKey Drivers and Restraints for the Plant Asset Management MarketDrivers and Challenges for the Plant Asset Management MarketDrivers ExplainedDrivers Explained (continued)Challenges ExplainedChallenges Explained (continued)Plant Asset Management in an IoIT WorldKey IoIT Technologies Driving the Next Generation of PAM Solutions for Predictive/Prescriptive AnalysisPervasive Sensing—Enhancing the Value of PAM Solutions through Improved Data AvailabilityIndustrial Wireless Networks—Expands Connectivity for a Wide Range of Asset ClassesBig Data Storage and Processing—Streamlining Data Gathering and Processing for Asset AnalyticsCloud Computing—Connectivity and Interoperability of Wide Range of Asset Information for PAM ApplicationsAdvanced Analytics—Enabling Transformation from Predictive to Prescriptive InsightsMobility—Improving PAM Performance Enabling Asset Tracking and Inspection On-the-GoStrategic Recommendations for Plant Asset Management Solution ProvidersStrategic RecommendationsStrategic Recommendations (continued)Legal DisclaimerThe Frost & Sullivan StoryThe Frost & Sullivan StoryValue Proposition: Future of Your Company & CareerGlobal PerspectiveIndustry Convergence360º Research PerspectiveImplementation ExcellenceOur Blue Ocean Strategy




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