How big is the Plant Asset Management Market?

The Plant Asset Management Market size is expected to reach USD 9.84 billion in 2024 and grow at a CAGR of 11.60% to reach USD 17.04 billion by 2029. Read More

What is the current Plant Asset Management Market size?

In 2024, the Plant Asset Management Market size is expected to reach USD 9.84 billion. Read More

Who are the key players in Plant Asset Management Market?

ABB Group, Emerson Electric Co., Honeywell International Inc., Rockwell Automation, Inc. and Siemens AG are the major companies operating in the Plant Asset Management Market. Read More

Which is the fastest growing region in Plant Asset Management Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Plant Asset Management Market?

In 2024, the North America accounts for the largest market share in Plant Asset Management Market. Read More

What years does this Plant Asset Management Market cover, and what was the market size in 2023?

In 2023, the Plant Asset Management Market size was estimated at USD 8.82 billion. The report covers the Plant Asset Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Plant Asset Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Plant Asset Management Market - PAM

Plant Asset Management Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Plant Asset Management Market is segmented by offerings (Software, Services), Deployment (On-Premise, Cloud), end-user (Energy and Power, Oil & Gas, Petrochemical, Mining and Metal, Aerospace and Defense, Automotive), and geography. The market sizes and forecasts are provided in terms of value (USD million).

Plant Asset Management Industry Overview

There is intense competition with several providers of Asset Management Services. The major players include ABB Group, Emerson Electric Co., Siemens AG, Rockwell Automation, and Honeywell International. Because manufacturing sectors invest extensively in artificial intelligence (AI), there is a high demand for Asset Management Services. To maintain consistency in the business and expand services further, asset management providers are making acquisitions and investments in new companies and technologies.

November 2022 - Vizient, the healthcare performance improvement company, collaborated with Handle Global, the healthcare supply chain analytics, to help Vizient member healthcare organizations manage their capital expenses and equipment through the capital asset management system. This system will offer healthcare organizations data, analytics, and insights for improved equipment lifecycle planning, procurement, and asset utilization that will ultimately reduce costs.

February 2023 - Arcadis design and consultancy organization for natural and built assets collaborated with Canada-based digital technology start-up Niricson. Using robotics, computer vision, and acoustic technology with artificial intelligence (AI), Arcadis can make predictive maintenance of bridge infrastructure safer, faster, and more cost-effective.