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$7.87 Billion Growth For Plant Asset Management Market (PAM) Forecast to 2022 Led by Services Segment

Press Release   •   Nov 22, 2016 06:12 EST

“Plant asset management (PAM) market expected to exhibit significant growth potential between 2016 and 2022”

The plant asset management market is expected to be valued at USD 7.87 billion by 2022, growing at a CAGR of 10.7% between 2016 and 2022. The key driving factors for the growth of the PAM market are increasing adoption of lean manufacturing practices and growing demand for cloud-based PAM solutions, real-time data analysis, and failure detection software. However, high investment cost, need for periodic up gradation of plant asset management solutions, and complexity involved in installation are some of the key factors restraining the growth of the plant asset management market. Complete report on "Plant Asset Management (PAM) Market" spread across 170 pages, profiling 10 companies and supported with 71 tables and 82 figures is now available at http://www.reportsnreports.com/reports/758286-plant-asset-management-pam-market-by-offering-software-and-services-deployment-mode-cloud-online-and-offline-asset-type-production-and-automation-end-user-industry-process-and-discrete-and-geography-st-to-2022.html .

“Oil and gas expected to account for the largest share of the PAM market during the forecast period”

The oil and gas industry is expected to hold the largest size of the plant asset management market during the forecast period. Safety and reliability of the oil and gas plant is crucial for the management of plant assets. Thus, the industry needs PAM solutions for ensuring the safety and operational efficiency of the oil and gas plants.

The key players in the PAM market include:

  1. ABB Ltd. (Switzerland)
  2. AB SKF (Sweden)
  3. Emerson Electric Co. (U.S.)
  4. Endress+Hauser Management AG (Switzerland)
  5. General Electric Co. (U.S.)
  6. Honeywell International, Inc. (U.S.)
  7. Rockwell Automation, Inc. (U.S.)
  8. Schneider Electric SA (France)
  9. Siemens AG (Germany)
  10. Yokogawa Electric Corporation (Japan)

Make an Inquiry on “Plant Asset Management (PAM) Market by Offering (Software and Services), Deployment Mode (Cloud (online) and offline), Asset Type (Production and Automation), End-User Industry (Process and Discrete), and Geography - Global Forecast to 2022” research report at http://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=758286 .

This research study is obliging for following audience:

  1. Associations and industrial bodies
  2. Component suppliers and distributors
  3. End users of PAM solutions across process and discrete industries
  4. Government bodies such as regulatory authorities and policymakers
  5. Industrial automation equipment providers
  6. Market research and consulting firms
  7. Original equipment manufacturers (OEMs)
  8. PAM solution providers
  9. Research institutes and organizations

“The market for services segment expected to grow at the highest rate during the forecast period”

The services segment is expected to lead the global plant asset management market in terms of market share as well as CAGR during the forecast period. Increasing demand for industry-specific services is the key factor expected to drive the growth of the services segment.

“APAC expected to be the fastest-growing market during the forecast period”

The plant asset management market in the APAC region is expected to grow at the highest rate between 2016 and 2022. The major factors driving the plant asset management market growth in the APAC region are continuous advancements and technological innovations in different industries, economic development in China, Japan, and India, growing infrastructure developments in India and other Southeast Asian countries, and increasing foreign investment in the region. Furthermore, the emergence of China as the major manufacturing hub is increasing the scope of PAM software and services in the region. Get sample report at http://www.reportsnreports.com/contacts/requestsample.aspx?name=758286 .

Research Coverage: The research report on the global PAM market covers different segments, namely, offering, deployment mode, asset type, end-user industry, and geography. The market has been segmented on the basis of offering into software and services. On the basis of deployment mode, the PAM market has been classified into cloud (online) deployment and offline deployment. Asset types covered are production and automation assets. The report covers two types of industries, namely, process industry and discrete industry. Further, process industries have been segmented into chemical, oil and gas, energy and power, food and beverages, metals and mining, pharmaceutical and biotech, pulp and paper, and water and wastewater. Discrete industries include automotive, aerospace and defense, semiconductor and electronics, and medical device. The report covers four major geographical regions, namely, Americas, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). 

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (43%), Tier 2 (32%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (53%), Director Level (26%) and others (21%) from various key organizations operating in the global plant asset management (PAM) market. The primary interviews were conducted worldwide covering regions such as Americas (45%), Asia-Pacific (20%), Europe (27%), and RoW (8%). Ask for Discount at http://www.reportsnreports.com/contacts/discount.aspx?name=758286 .

The report provides insights on the following pointers:

  1. The report includes illustrative segmentation, analysis, and forecast for the market based on offering, deployment mode, asset type, industry, and geography.
  2. Porter’s five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the PAM market.
  3. The major drivers, restraints, opportunities, and challenges for the PAM market have been detailed in this report.
  4. A detailed competitive landscape includes key players, in-depth analysis, and market share of the key players.

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