A PAM system manages and monitors the fixed assets of a company, which are used in the production process. PAM gives better control over the production process and enhances the efficiency and productivity of an organization. It also generates real-time data of assets, which enables officials to take an informed decision. The real-time data generated by a PAM system can also be used to identify signs of failure, ensuring that plant productivity is not hit due to machine downtime.
Scope of the Report:This report studies the Plant Asset Management (PAM) market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Plant Asset Management (PAM) market by product type and applications/end industries.
The production asset segment is expected to dominate the global plant asset management market during the forecast period. It is important to maintain the health of assets, especially production assets which are continuously used. The low performance of these assets hampers the production process. This leads to high adoption of plant asset management solutions to improve the efficiency and performance. However, the market for the automation asset segment is expected to grow at the highest CAGR between 2018 and 2023 owing to the increasing adoption of automation for performing complex manufacturing processes and reducing human errors in process and discrete industries around the world.
The global Plant Asset Management (PAM) market is valued at xx million USD in 2017 and is expected to reach xx million USD by the end of 2023, growing at a CAGR of xx% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Plant Asset Management (PAM).
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
Market Segment by Companies, this report covers ABB
Emerson
Honeywell
Rockwell Automation
Siemens
Applied Material
Dassault Systemes
Endress+Hauser
GE Digital
Hitachi
IBM
IFS
Petrofac
SAP
Market Segment by Regions, regional analysis covers North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers Production Assets
Automation Assets
Market Segment by Applications, can be divided into Oil & Gas
Energy & Power
Food & Beverages
Chemical
Metals & Mining
Pharmaceutical & Biotech
Automotive
Semiconductor & Electronics
Medical Device
Frequently Asked Questions
The base year for the study has been considered 2019, historic year 2014 and 2018, the forecast period considered is from 2020 to 2027. The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level. The study also includes attractiveness analysis of type, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
Market is segmented on the basis:
- By Type
- By Application
- By Region
- By Country
- By Manufacturer
The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
