Frost Radar™: Asset Performance Management, 2023

Industrial Automation Frost Radar™: Asset Performance Management, 2023

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines


RELEASE DATE
21-Jun-2023
REGION
Global
DELIVERABLE TYPE
Frost Radar

RESEARCH CODE
K823-01-00-00-00
SKU
IA01695-GL-MR_27801
Yes
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$4,950.00

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SKU
IA01695-GL-MR_27801

Frost Radar™: Asset Performance Management, 2023
Published on: 21-Jun-2023 | SKU: IA01695-GL-MR_27801

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Asset performance management (APM) systems are critical tools for asset-heavy industries, including oil and gas, petrochemicals and chemicals, mining and metals, and manufacturing, to effectively manage costs and risks in today’s volatile business climate. The APM landscape comprises a mix of traditional industrial automation vendors, hyperscalers, IT companies, and emerging disruptive tech startups competing to gain market share, expand their product portfolios, and offer asset management applications to a wide range of new industry verticals. The main technological enablers driving the maintenance capabilities of asset-intensive industries are artificial intelligence (AI), machine learning, Big Data management, advanced analytics, cloud/edge computing, digital twins, virtual/augmented/mixed reality (VR/AR/MR), and intelligent sensors.

The APM Frost Radar™ reveals the market positioning of leading companies using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™, considering their strengths and the opportunities that best fit those strengths.

Asset Performance Management 2023

  • Asset Performance Management

Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

Have questions about this research or need deeper insights?
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Impacting your company's future growth potential.

Asset performance management (APM) systems are critical tools for asset-heavy industries, including oil and gas, petrochemicals and chemicals, mining and metals, and manufacturing, to effectively manage costs and risks in today’s volatile business climate. The APM landscape comprises a mix of traditional industrial automation vendors, hyperscalers, IT companies, and emerging disruptive tech startups competing to gain market share, expand their product portfolios, and offer asset management applications to a wide range of new industry verticals. The main technological enablers driving the maintenance capabilities of asset-intensive industries are artificial intelligence (AI), machine learning, Big Data management, advanced analytics, cloud/edge computing, digital twins, virtual/augmented/mixed reality (VR/AR/MR), and intelligent sensors. The APM Frost Radar™ reveals the market positioning of leading companies using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™, considering their strengths and the opportunities that best fit those strengths.
More Information
Deliverable Type Frost Radar
Industries Industrial Automation
No Index No
Is Prebook No
Keyword 1 APM
Keyword 2 Asset Performance Management System
Keyword 3 asset performance monitoring
Podcast No
WIP Number K823-01-00-00-00