Convergence in the Plant Asset Management (PAM) Market
Plant Asset Management Market: Key Findings, Global, 2015
Plant Asset Management (PAM) technologies are shifting the next generation of performance improvements from the current practices that are focused on preventing asset failure towards practices focused on predictive asset maintenance strategies for optimum asset performance.
Internet of Industrial Things (IoIT) technologies are revolutionizing operations and maintenance processes, enabling the coverage of a wide variety of asset classes in remote locations that was previously not possible for predictive strategies.
Asset management suppliers are looking to provide comprehensive and integrated PAM solutions by strengthening their product portfolios through effective mergers and acquisitions and partnership strategies.
Key emerging trends include 1) performance-based asset analytics services and 2) product portfolio expansion to include comprehensive asset management solutions from the plant to the enterprise levels.
Hurdles in change management, high initial investment, and difficulty in justifying returns on investment (ROI) are amongst the major challenges in adopting advanced PAM technologies.
- Executive Summary
- Industrial Asset Management-Strategies and Technologies
- Asset Management Strategies-From Reactive to Predictive/Proactive
- Asset Management Technologies
- Plant Asset Management (PAM)-Overview and Segmentation
- Condition Monitoring System (CMS)
- Asset Reliability System
- Asset Performance Management (APM) System
- Changing Landscape of Plant Asset Management Market
- Major Trends of the Plant Asset Management Market
- Partnership Trend-Providing Solutions from Condition Monitoring to Predictive Maintenance
- Consolidation Trend-Quest for Providing Comprehensive Asset Management Solutions
- Consolidation Trend-Gaining Expertise for Integrated Offering from Plant to Enterprise Level
- Emerging Service Trend-Performance-based Asset Analytics Services
- Key Drivers and Restraints for the Plant Asset Management Market
- Drivers and Challenges for the Plant Asset Management Market
- Drivers Explained
- Challenges Explained
- Plant Asset Management in an IoIT World
- Key IoIT Technologies Driving the Next Generation of PAM Solutions for Predictive/Prescriptive Analysis
- Pervasive Sensing-Enhancing the Value of PAM Solutions through Improved Data Availability
- Industrial Wireless Networks-Expands Connectivity for a Wide Range of Asset Classes
- Big Data Storage and Processing-Streamlining Data Gathering and Processing for Asset Analytics
- Cloud Computing-Connectivity and Interoperability of Wide Range of Asset Information for PAM Applications
- Advanced Analytics-Enabling Transformation from Predictive to Prescriptive Insights
- Mobility-Improving PAM Performance Enabling Asset Tracking and Inspection On-the-Go
- Strategic Recommendations for Plant Asset Management Solution Providers
- Strategic Recommendations