Global Remote Asset Management Market, By Component (Solution, Platform and Service), Application (Building Automation, Remote Healthcare and Wellness, Smart Retail, Utilities and Smart Grids, Production Monitoring, Connected Logistics and Fleet Management, Connected Agriculture and Others), Asset Type (Fixed Asset and Mobile Asset), Deployment Mode (On-premises and Cloud bases), Organization Size (Small and Medium Scale Enterprises and Large Enterprises), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Remote Asset Management Market
Data Bridge Market Research analyses that the remote asset management market will exhibit a CAGR of 14.56% for the forecast period of 2021-2028. The remote asset management market value will therefore stand by USD 49.01 billion by 2028. Rising adoption of internet of things technology paving the way for efficient asset management and declining cost of internet of things components leading to cost-effective remote asset management solution deployment are the major factors responsible for the growth of remote asset management market.
Remote asset management is a technology that enables the organizations of enterprises to improve operational efficiency due to predictive and preventive maintenance. Remote asset management offers remote monitoring and maintenance of assets, machines, and systems.
Rising expenditure for research and development activities for the incorporation of advanced technologies with the connected devices technology is creating lucrative growth opportunities for the remote asset management market. Boost in the adoption of cloud computing devices by small and medium scale enterprises owing to their affordability will further induce growth in the remote asset management market value. Rising expenditure by the government for the development of information, communication and technology (ICT) infrastructure will also propel growth in the demand for remote asset management. Rising digitization of economies especially the developing ones coupled with increasing use of predictive maintenance to boost the adoption of remote asset management is another growth opportunity for the market.
However, dearth of skilled professionals or trained personnel will pose a major challenge to the growth of remote asset management market. Also, high costs associated with installation and maintenance will further create hindrances for the growth of remote asset management market. Resistance and hesitance to shift from traditional organization structure will also reduce the market growth rate.
This remote asset management market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on remote asset management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Remote Asset Management Market Scope and Market Size
The remote asset management market is segmented on the basis of component, application, asset type, deployment model and organization size. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
On the basis of component, the remote asset management market is segmented into solution, platform and service. Solution segment is sub-segmented into real-time location tracking, streaming analytics, asset condition monitoring, predictive maintenance, surveillance and security, network bandwidth management, asset performance management and others. Platform segment is sub-segmented into application management, device management and connectivity management. Service segment is sub-segmented into professional services and managed services.
- On the basis of application, the remote asset management market is segmented into building automation, remote healthcare and wellness, smart retail, utilities and smart grids, production monitoring, connected logistics and fleet management, connected agriculture and others.
- On the basis of asset type, the remote asset management market is segmented into fixed assets and mobile assets.
- On the basis of deployment mode, the remote asset management market is segmented into on-premise and cloud based.
- On the basis of organization size, the remote asset management market is segmented into small and medium scale enterprises and large enterprises.
Global Remote Asset Management Market Country Level Analysis
The remote asset management market is analysed and market size, volume information is provided by country, component, application, asset type, deployment model and organization size as referenced above.
The countries covered in the remote asset management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America holds a prominent share in the global remote asset management market owing to the availability of adequate infrastructure, presence of large IT companies and rapid technological advancements. Asia-Pacific on the other hand is projected to score the highest CAGR for the forecast period owing to rising ICT infrastructural development and growing acceptance of cloud-based solutions and emerging technologies.
The country section of the remote asset management market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Remote Asset Management Market Share Analysis
The remote asset management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to remote asset management market.
The major players covered in the remote asset management market report are Cisco Systems, Inc., Hitachi, Ltd., IBM, PTC, Infosys Limited, Schneider Electric, AT&T Intellectual Property., Rockwell Automation, Inc., Verizon, SAP, Goverlan, Inc., Rahi Systems., RCS, EAMbrace., EZOfficeInventory., SoftExpert Software for Performance Excellence., RemoteToPC, Soutron and Bosch Software Innovations GmbH among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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