Global Plant Asset Management (PAM) Software Market, Forecast to 2022

Increase in IIoT-Ready Plant Facilities to Leverage Growth Through Data Exchange Developments and Improved Integration

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Research Overview
This Frost & Sullivan study analyzes the convergence trends of information technology and operational technology (IT/OT), changing buying behavior, influence of disruptive technologies, competitive intensity and impact of economic and mega trends in the global plant asset management (PAM) market. In addition to PAM software market analysis, the study highlights CEO's 360 degree view of industry challenges, trends and implications. It also includes the drivers, restraints, forecasts and trends in the geographic regions of North America, Latin America, Europe, Middle East and Africa (EMEA), Asia-Pacific and the Rest-of-the–World (RoW).

In this research, Frost & Sullivan's expert analysts thoroughly examine the following market segments:

  • Asset performance management and asset reliability software
  • Asset condition monitoring software

The study also includes the following application segments:

  • Oil and gas
  • Power generation
  • Power transmission and distribution
  • Chemical
  • Metals and mining
  • Food and beverages
  • Pharmaceutical and biotech
  • Water and wastewater
  • Pulp and paper

Market Overview

Predictive Maintenance and Software-as-a-Service-based PAM to Gain Momentum in the Market

The rising tendency among asset-intensive companies to view maintenance as a potential area of profit rather than expenditure has driven investments in PAM software. Its offer of predictive maintenance, which is more cost-effective than routine maintenance, is attracting business from asset-intensive organizations. The maintenance teams in these companies are looking to leverage PAM software’s cost optimization benefits to cope with the increasing global competition, tougher regulations and intense focus on improving profitability. In addition, PAM software’s ability to improve efficiency and extend the life of assets has popularized it in emerging countries, which are often challenged by a large installed base of ageing infrastructure and market congestion due to hyper-growth. This will place the spotlight on the software-as-a-service (SaaS) model due to its subscription-based approach, scalability and flexibility.

Although the opportunities are many, the lack of off-the-shelf solutions and complications associated with the implementation of the PAM software tend to dampen market growth. In addition, complexities in integration, lack of experts within the customer organization and the high costs of full-fledged PAM software tend to limit the uptake of PAM software.

PAM software and related services have gained considerably from the advancements in industrial Internet of Things (IIoT) technologies. Therefore, strategic partnerships with asset management service providers and niche IIoT technology companies are critical for driving the mainstream PAM market. Service providers are looking to break into new application sectors by spreading awareness about their cloud offerings. The biggest end-user market, however, continues to be the energy industry, which accounted for 60 percent of the market share in 2015, prompting greater customization of PAM applications for this sector.

Table of Contents

1. Executive Summary
Key Findings
Market Engineering Measurements
Market Segmentation by Type
Market Segmentation by Vertical
Market Segmentation by Region
Market Segmentation by Software and Services
CEO’s Perspective
2. Market Overview
Market Definitions
Plant asset management (PAM) software
Asset performance management software
Asset reliability software
Condition monitoring software
3. Drivers and Restraints—Total PAM Software Market
Market Drivers
Drivers Explained
Market Restraints
Restraints Explained
4. Total Plant Asset Management Software Market—Forecasts and Trends
Market Engineering Measurements
Forecast Assumptions
Currency Exchange Rates
Revenue Forecast
Revenue Forecast Discussion
Percent Revenue Forecast by Region
Revenue Forecast by Region
Revenue Forecast Discussion by Region
Percent Revenue Forecast by Vertical
Revenue Forecast by Vertical
Revenue Growth Forecast by Vertical
Revenue Forecast Discussion by Vertical
5. CEO’s 360-Degree Perspective on the PAM Software Market
CEO’s 360-Degree Perspective
Mega Trends
IT-OT Convergence
Economic
Customer
Technology
Competitive
Best Practices
6. Mega Trend Impact on the PAM Software Market
Mega Trend Impact on the PAM Software Market
7. Opportunities from IT-OT Convergence
Challenges in Existing Hierarchical Industrial Automation and Software Architecture
Benefits from Smart Automation Architecture that Embrace Connectivity and Convergence
Opportunities for PAM Software Vendors by Leveraging IT-OT Convergence
8. Impact from Global Economic Trends
Top Economic Trends for 2015
Top Economic Predictions—2016
9. Changing Customer Buying Behavior
Changing Customer Buying Behavior that Triggers Opportunities from More Value-Add Projects
Next Evolution of Solution Offerings will be Data Driven
10. Influence of Disruptive Technologies over the PAM Software Market
Disruptive Technologies
11. Market Share and Competitive Analysis
Market Share
Market Share Analysis
Competitive Environment
Top Competitors
12. Best Practices
Best Practices in PAM Software Market
13. Asset Performance Management/Asset Reliability Software Segment Breakdown
Revenue Forecast
Revenue Forecast Discussion
14. Asset Condition Monitoring Software Segment Breakdown
Revenue Forecast
Revenue Forecast Discussion
15. North America Breakdown
16. Europe, the Middle East, and Africa (EMEA) Breakdown
17. Asia-Pacific (APAC) Breakdown
18. Latin America (LATAM) Breakdown
19. The Last Word
3 Big Predictions
Legal Disclaimer
20. Appendix
Market Engineering Methodology
Additional Sources of Information Relevant to Plant Asset Management
Partial List of Companies Interviewed
List of Other Market Participants


List of Figures & Charts

1. Total Plant Asset Management Software Market: Key Market Drivers, Global, 2016–2022
2. Total Plant Asset Management Software Market: Key Market Restraints, Global, 2016–2022
3. Total Plant Asset Management Software Market: Market Engineering Measurements, Global, 2015
4. Total Plant Asset Management Software Market: Revenue Forecast by Region, Global, 2014–2022
5. Total Plant Asset Management Software Market: Revenue Growth Forecast by Region, Global, 2014–2022
6. Total Plant Asset Management Software Market: Percent Revenue Forecast by Vertical, Global, 2014–2022
7. Total Plant Asset Management Software Market: Revenue Forecast by Vertical, Global, 2014–2022
8. Total Plant Asset Management Software Market: Revenue Growth Forecast by Vertical, Global, 2014–2022
9. Total Plant Asset Management Software Market: CEO’s 360-Degree Perspective, Global, 2015
10. Total Plant Asset Management Software Market: CEO’s 360-Degree Perspective, Global, 2015
11. Total Plant Asset Management Software Market: Mega Trend Impact, Global, 2015
12. Total Plant Asset Management Software Market: Mega Trend Impact, Global, 2015
13. Total Plant Asset Management Software Market: IT-OT Convergence Opportunities, Global, 2015
14. Total Plant Asset Management Software Market: Company Market Share Analysis of the Top 9 Participants, Global, 2015
15. Total Plant Asset Management Software Market: Competitive Structure, Global, 2015
16. Total Plant Asset Management Software Market: SWOT Analysis, Global, 2015


1. Total Plant Asset Management Software Market: Market Engineering Measurements, Global, 2015
2. Total Plant Asset Management Software Market: Percent Revenue Breakdown by Type, Global, 2015
3. Total Plant Asset Management Software Market: Percent Revenue Breakdown by Vertical, Global, 2015
4. Total Plant Asset Management Software Market: Percent Revenue Breakdown by Region, Global, 2015
5. Total Plant Asset Management Software Market: Percent Revenue Breakdown by Software and Services, Global, 2015
6. Total Plant Asset Management Software Market: Revenue Forecast, Global, 2014–2022
7. Total Plant Asset Management Software Market: Percent Revenue Forecast by Region, Global, 2014–2022
8. Total Plant Asset Management Software Market: Percent Revenue Forecast by Vertical, Global, 2014–2022
9. Plant Asset Management Software Market: Shell Honeycomb Model, Global, 2015
10. Plant Asset Management Software Market: Evolution of MAIC, Global, 2015
11. Total Plant Asset Management Software Market: Competitive Market Share, Global, 2015
12. Asset Performance Management/Asset Reliability Software Segment: Revenue Forecast, Global, 2014–2022
13. Asset Condition Monitoring Software Segment: Revenue Forecast, Global, 2014–2022
14. Plant Asset Management Software Market: Revenue Forecast, North America, 2014–2022
15. Plant Asset Management Software Market: Revenue Forecast, EMEA, 2014–2022
16. Plant Asset Management Software Market: Revenue Forecast, APAC, 2014–2022
17. Plant Asset Management Software Market: Revenue Forecast, Latin America, 2014–2022



Keyword1
plant asset management
Keyword2
plant asset management software
Keyword3
plant asset management

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