Global Remote Asset Management Market 2020-2025 - Heightened Demand for RAM Solutions due to the COVID-19 Pandemic - ResearchAndMarkets.com

DUBLIN--()--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/avj4ol

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900