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Integration of IIoT Technologies to Ease Asset Maintenance, Establish Connected Environments and Promote Steady Growth
The objective of this study is to identify and evaluate various growth opportunities for enterprise asset management (EAM) vendors in the present business scenario which is challenged by uncertain economic conditions and the emergence of a new wave of digital manufacturing. There is a pressing need for end-users, particularly in asset-intensive industries, to develop and implement effective strategies to diminish their operational spend and enhance production efficiency; the study elaborates on the significance of EAM in achieving these business goals. The research service also discusses the benefits of integrating Industrial IoT (IIoT) technologies with EAM software. As end-users prefer to continuously monitor the condition of their multiple assets, optimize resources and inventories, and assess their financial performance, the study explains the need and benefits of embracing IIoT technologies such as cloud, Big Data, analytics and mobility. With 2017 as the base year, the study provides estimates of the market size and future growth prospects up to 2022. For this purpose, a specific methodology is followed that includes discussions with senior management of asset management software provider companies and automation giants and secondary research.
Research Scope
- In-depth analysis of the key automation and IIoT technologies, the outcome of adopting these advanced technologies in EAM software and their implications
- Analysis of the EAM market by two product segments which includes software and services
- Regional perspective on the changing demand patterns across advanced and emerging markets: North America; Europe, the Middle East, and Africa; Asia-Pacific; and Rest of the World
- End-user perspective on various critical requirements and the challenges faced by process, discrete and hybrid manufacturers while upgrading their existing plants
- Profiles of key EAM vendors discussing their strategy and product offerings
Across process, discrete and hybrid industries manufacturers are striving to improve operational and production efficiency. To achieve this, a significant portion of their investments are focused on upgrading their existing plants with modern software solutions. Furthermore, government bodies in several countries are coining regulations to promote health, and safety, and importantly, reduce carbon footprint. This requires strict monitoring and maintenance of their plant operations which has, in fact, led to the integration of EAM into ERP solutions. Despite economic uncertainty, companies have continued to invest in EAM especially, oil and gas, power generation, chemicals and pharmaceutical industries. At present, with the emergence of IIoT, EAM plays a critical role in establishing connected ecosystems, transitioning towards predictive maintenance and promoting digital manufacturing.
Key Issues Addressed
- Is the market growing, how long will it continue to grow, and at what rate?
- Are the existing competitors structured correctly to meet customer needs?
- Is this an industry or a market? Will these companies/products/services continue to exist, or will other companies acquire them? Will the products/services become features in other markets?
- How will the structure of the market change with time? Is the market ripe for acquisitions?
- Are the products/services offered today meeting customer needs or is additional development needed?
- Are the vendors in the space ready to go it alone, or do they need partnerships to take their businesses to the next level?
Key Findings
Market Engineering Measurements
CEO’s Perspective
Market Definitions
Market Definitions (continued)
Enterprise Asset Management (EAM)
Key Questions this Study will Answer
Market Segmentation by Region
Market Segmentation by Vertical
Segmentation
Market Distribution Channels
Enterprise Asset Management—An Overview
Enterprise Asset Management—Functionalities
Market Drivers
Drivers Explained
Drivers Explained (continued)
Drivers Explained (continued)
Drivers Explained (continued)
Market Restraints
Restraints Explained
Restraints Explained (continued)
Restraints Explained (continued)
Market Engineering Measurements
Forecast Assumptions
Revenue Forecast
Revenue Forecast Discussion
Software Revenue Forecast
Software Revenue Forecast Discussion
Services Revenue Forecast
Services Revenue Forecast Discussion
Percent Revenue Forecast by Region
Revenue Forecast by Region
Revenue Forecast Discussion by Region
Revenue Forecast Discussion by Region (continued)
Percent Revenue Forecast by Vertical Market
Revenue Forecast by Vertical Market
Revenue Forecast Discussion by Vertical Market
Revenue Forecast Discussion by Vertical Market (continued)
Revenue Forecast Discussion by Vertical Market (continued)
Revenue Forecast Discussion by Vertical Market (continued)
Market Share
Market Share Analysis
Competitive Environment
Top Competitors
Competitive Factors and Assessment
5 Major Growth Opportunities
Growth Opportunity 1—Modular EAM Software
Growth Opportunity 2—EAM on Cloud
Growth Opportunity 3—Industrial Mobility
Strategic Imperatives for Success and Growth
Impact of Mega Trends on the EAM Software Market
Mega Trend Impact on the EAM Software Market
Top Economic Trends for 2017
Top Economic Predictions—2017
IT-OT Convergence—Establishing a Smart Automation Architecture through Connectivity
Key Disruptive Technologies
Opportunities for EAM Software Vendors by Leveraging IT-OT Convergence
Changing Customer Buying Behavior that Triggers Opportunities from More Value-Add Projects
Next Evolution of Solution Offerings will be Data Driven
North America—Key Findings
North America—Revenue Forecast
North America—Revenue Forecast Discussion
EMEA—Key Findings
EMEA—Revenue Forecast
EMEA—Revenue Forecast Discussion
Asia-Pacific—Key Findings
Asia-Pacific—Revenue Forecast
Asia-Pacific—Revenue Forecast Discussion
Latin America—Key Findings
Latin America—Revenue Forecast
Latin America—Revenue Forecast Discussion
IBM Maximo—Solution Overview/Value Proposition
IBM Maximo—Future Roadmap
ABB—Solution Overview/Value Proposition
ABB Ellipse—Future Roadmap
IFS—Solution Overview/Value Proposition
IFS—Future Roadmap
The Last Word—3 Big Predictions
Legal Disclaimer
Market Engineering Methodology
List of Companies in “Others”
Partial List of Companies Interviewed
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
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Research Scope
- In-depth analysis of the key automation and IIoT technologies, the outcome of adopting these advanced technologies in EAM software and their implications
- Analysis of the EAM market by two product segments which includes software and services
- Regional perspective on the changing demand patterns across advanced and emerging markets: North America; Europe, the Middle East, and Africa; Asia-Pacific; and Rest of the World
- End-user perspective on various critical requirements and the challenges faced by process, discrete and hybrid manufacturers while upgrading their existing plants
- Profiles of key EAM vendors discussing the
| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Kiravani Emani |
| Industries | Industrial Automation |
| WIP Number | K196-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9415-X1,9420,9593,9B07-C1 |