Remote Asset Management Markets, Forecast to 2025 - Impact of COVID-19, Key Insights, Use Cases, Disruptive Technologies, Leading Players

DUBLIN, June 5, 2020 /PRNewswire/ -- The "Remote Asset Management Market by Component (Solutions (APM, Analytics and Reporting) and Services (Professional Services, Managed Services)), Asset Type (Fixed, Mobile), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global remote asset management market is projected to grow from USD 16,529 million in 2020 to USD 32,602 million by 2025, at a CAGR of 14.6% during the forecast period of 2020 to 2025.

Growth of the remote asset management market can be attributed to the surge in the adoption of IoT-enabled remote asset management solutions to manage assets efficiency

The major factors driving the growth of the remote asset management market include a surge in the adoption of IoT-enabled remote asset management solutions to manage assets efficiency, decreasing cost of IoT-enabled sensors optimize asset lifecycle through remote asset management solutions, and predictive maintenance to boost the adoption of remote asset management, thereby reducing the operational cost of remote assets.

Services segment to grow at a higher CAGR during the forecast period

The remote asset management services industry is segmented into two major types: professional services and managed services. Professional and managed services enhance the security portfolio of enterprises and safeguard their system from unauthorized access, exploitation, and data loss. The professional services segment includes consulting, implementation, and support and maintenance services.

Service Providers (SPs) for remote asset management solutions help in implementing intelligent tracking and technology for efficient operation of assets in a cost-effective manner. The main driving factor of the remote asset management services industry is the increasing need for implementing the optimal remote asset management solutions. These solutions backed by services would result in improved asset performance and reduced manual monitoring and operating expenses.

Analytics and reporting segment to grow at the highest CAGR during the forecast period

Analytics and reporting solutions help organizations evaluate the daily field operations and identify the areas of improvement, leading to better service delivery. These solutions allow organizations to simplify those data sources and represent the sources into a catchy visual dashboard. Analytics and reporting solutions offer automated report generation, which enables organizations to gain real-time information anywhere, anytime.

Analytics and reporting solutions assist businesses in gaining enhanced insights and making better decisions for carrying out business-critical activities. Analytics and reporting solutions also assist in the management of big data, resulting in the availability of required information, both in qualitative or quantitative form.

On-premises deployment mode to lead the market during the forecast period

An organization using an on-premises remote asset management solution can have total control over the security of information about assets. On-premises solutions are installed and hosted in an organization's IT infrastructure and are managed by its internal IT staff. On-premises deployment mode of remote asset management solutions requires high initial investment by organizations, though it does not require incremental costs throughout the ownership, as in the case of cloud deployment. Security concern is a major reason for the adoption of on-premises deployment over the cloud.

North America to lead the market share in 2020

North America is one of the largest contributors to the remote asset management market. The market growth in this region is majorly driven by the presence of large IT companies and rapid technological advancements, such as digitalization in the US and Canada. Well-established economies of these countries enable the region to invest heavily in leading remote asset management solutions and services. AT&T, Cisco Systems, IBM, PTC, Rockwell Automation, and Verizon are some of the leading vendors of remote asset management solutions and services operating across the North American market.

Some prominent players profiled in the study include Siemens AG (Siemens), AT&T (AT&T), Cisco Systems, Inc. (Cisco Systems), Hitachi Ltd. (Hitachi), Schneider Electric (Schneider Electric), PTC (PTC), Infosys Limited (Infosys), IBM Corporation (IBM), Rockwell Automation, Inc. (Rockwell Automation), SAP (SAP), Verizon (Verizon), Bosch.IO (Bosch.IO), Meridium Inc. (Meridium), Vodafone Group (Vodafone), RapidValue Solutions (RapidValue), RCS Technologies (RCS), EAMbrace (EAMbrace), Accruent (Accruent), ROAMWORKS (ROAMWORKS), and Ascent Intellimation Pvt. Ltd. (Ascent Intellimation).

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Market
4.2 Asia-Pacific Remote Asset Management Market, by Component and Country
4.3 Major Countries

5 Market Overview and Industry Trends
5.1 Market Overview
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Surge in the Adoption of IoT-Enabled Remote Asset Management Solutions to Manage Assets Efficiency
5.2.1.2 Decreasing Cost of IoT-Based Sensors Optimize Asset Life Cycle Through Remote Asset Management Solutions
5.2.1.3 Predictive Maintenance to Boost the Adoption of Remote Asset Management, Thereby Reducing Operational Cost of Remote Assets
5.2.2 Restraints
5.2.2.1 Concerns of Organizations Related to Data Security and Confidentiality
5.2.3 Opportunities
5.2.3.1 Extending Remote Asset Life Cycle Using Advanced Technologies
5.2.3.2 Demand for Remote Asset Management Solutions due to the COVID-19 Pandemic
5.2.3.3 Advancement of IoT and Cloud Computing Technology Offering Economic Benefits
5.2.4 Challenges
5.2.4.1 Selecting the Right Solution That Aligns With the Remote Asset Management Needs
5.2.4.2 Agile Technological Changes Offer New Challenges to the Existing Vendors
5.3 Value Chain Analysis
5.4 Industry Use Cases
5.4.1 Use Case 1: IBM Helped Cheniere Deploy IBM Maximo Asset Management Solution for Transforming the Maintenance of Complex Assets at the Upgraded Sabine Pass Facility
5.4.2 Use Case 2: SAP Helped Netzsch to Standardize Its Asset Portal and Undergo a Digital Transformation Through SAP Asset Intelligence Network
5.4.3 Use Case 3: PTC Helped Bell and Howell Drove Innovation and Business Transformation With Industrial Internet of Things-Enabled Service Offerings
5.4.4 Use Case: Bosch.Io Helped Hager Improved Its Home Energy Management System Using Its Bosch Internet of Things Suite
5.5 Impact of Disruptive Technologies
5.5.1 Artificial Intelligence
5.5.2 Big Data and Analytics
5.5.3 Augmented Reality
5.5.4 Digital Twin
5.6 Regulatory Bodies in the Remote Asset Management Market
5.6.1 International Organization for Standardization Standards
5.6.1.1 ISO/IEC JTC 1
5.6.1.2 ISO/IEC 27001
5.6.1.3 ISO/IEC JTC 1/Swg 5
5.6.1.4 ISO/IEC JTC 1Sc 31
5.6.1.5 ISO/IEC JTC 1/Sc 27
5.6.1.6 ISO/IEC JTC 1/Wg 7 Sensors
5.6.2 Institute of Electrical and Electronics Engineers
5.6.3 Cen/Iso
5.6.4 Cen/Cenelec
5.6.5 European Telecommunications Standards Institute
5.6.6 ITU-T

6 Impact of COVID-19 on Remote Asset Management

7 Remote Asset Management Market, by Component
7.1 Introduction
7.2 Solutions
7.3 Services

8 Remote Asset Management Market, by Asset Type
8.1 Introduction
8.2 Fixed Asset
8.3 Mobile Asset

9 Remote Asset Management Market, by Deployment Mode
9.1 Introduction
9.2 On-Premises
9.3 Cloud

10 Remote Asset Management Market, by Organization Size
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.3 Large Enterprises

11 Remote Asset Management, by Vertical
11.1 Introduction
11.2 Building Automation
11.3 Manufacturing
11.4 Healthcare
11.5 Retail
11.6 Energy and Utilities
11.7 Transportation and Logistics
11.8 Metal and Mining
11.9 Others

12 Remote Asset Management Market, by Region
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia-Pacific
12.5 Latin America
12.6 Middle East and Africa

13 Competitive Landscape
13.1 Competitive Leadership Mapping (Global)
13.1.1 Visionary Leaders
13.1.2 Innovators
13.1.3 Dynamic Differentiators
13.1.4 Emerging Companies
13.2 Strength of Product Portfolio (Global)
13.3 Business Strategy Excellence (Global)
13.4 Key Players in the Market, 2020
13.5 Competitive Leadership Mapping (Startup)
13.5.1 Progressive
13.5.2 Responsive
13.5.3 Dynamic Companies
13.5.4 Starting Blocks
13.6 Strength of Product Portfolio (Startup)
13.7 Business Strategy Excellence (Startup)

14 Company Profiles
14.1 Introduction
14.2 Siemens
14.3 AT&T
14.4 Cisco
14.5 Hitachi
14.6 Schneider Electric
14.7 PTC
14.8 Infosys
14.9 IBM
14.10 Rockwell Automation
14.11 SAP
14.12 Verizon
14.13 Bosch.Io
14.14 Meridium
14.15 Vodafone Group
14.16 Rapidvalue Solutions
14.17 RCS Technologies
14.18 Eambrace
14.19 Accruent
14.20 Roamworks
14.21 Ascent Intellimation
14.22 Right-To-Win

For more information about this report visit https://www.researchandmarkets.com/r/cgviks

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