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Worldwide Asset Life-Cycle Management Applications Forecast, 2024–2028: Positive Economic Outlook and Generative AI to Drive Revenue Growth

Publisher IDC
Published Jun 28, 2024
Length 15 Pages
SKU # IDC18930975

Description

Worldwide Asset Life-Cycle Management Applications Forecast, 2024–2028: Positive Economic Outlook and Generative AI to Drive Revenue Growth


This IDC study looks at the future of the market for asset life-cycle management applications through 2028 in both qualitative and quantitative terms. It includes the current state of the market, trends that currently affect the market and will affect it in the future, and the impact on annual ALM revenue through 2028. Drivers and inhibitors, market developments, and advice for technology suppliers are all included. "The asset life-cycle management market showed growth in 2023, lifted by the global software market, reduced fears of recession over the second half, and organic expansion driven by growth in facilities management applications as well as in some asset-heavy segments," said Brian O'Rourke, research manager, Enterprise Asset Management and Smart Facilities. "A more positive economic outlook combined with increasing use of generative AI applications should help drive increased ALM revenue growth over the medium to long term."

Please Note: Extended description available upon request.

Table of Contents

15 Pages
IDC Market Forecast Figure
Executive Summary
Advice for Technology Suppliers
Market Forecast
Market Context
Drivers and Inhibitors
Drivers
Generative AI in Position to Impact Revenue
Better Economic Outlook Leads to More Software Investment
Increased Use of Drones and Robots
Inhibitors
Cybersecurity Is an Underrecognized Liability for ALM Public Cloud and SaaS Adoption
The Skills Shortage Is Likely to Remain
Significant Market Developments
Changes from Prior Forecast
Market Definition
Methodology
Historical and Forecast Market Values and Exchange Rates
Related Research

Pricing

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