Remote Asset Management Market Report [2022]

Brainy Insights Pvt. ltd.

Rising demand for connected devices and low cost of cloud services provide the remote asset management market with plenty of growth prospects to spread across the globe over the forecast period.

Pune, March 16, 2022 (GLOBE NEWSWIRE) — According to report published by The Brainy Insights, the global remote asset management market is expected to grow from USD 16.1 billion in 2020 to USD 65.13 billion by 2030, with a CAGR of 15% over the forecast period 2021-2030.

Remote asset management is the use of a central system to remotely monitor and maintain assets, equipment, and systems. Intrusion detection, asset control and tracking, and real-time notifications are just some of the features of such a system. A remote asset management system allows businesses to automate a variety of routine business tasks and get the most out of resources, making decision-making easier.

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Remote asset management systems are increasingly being deployed by companies to improve the service performance of all of their assets, due to the multiple operational and strategic benefits they provide. Remote asset management allows companies to monitor and maintain their resources, machines and systems remotely. Implementing a remote asset management solution enables companies to improve their operational efficiency through predictive and preventive maintenance.

Real-time data connectivity due to the adoption of sensor technology is increasing the demand for remote asset management solutions and decreasing operational costs through innovative solutions are the two major drivers for the demand for solutions remote asset management.

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The major players operating in the global remote asset management market are Accruent, Ascent Intellimation Pvt. Ltd., AT&T, Bosch.IO, Cisco Systems, Inc., EAMbrace, Hitachi Ltd., IBM Corporation, Infosys Limited, Meridium Inc., PTC, RapidValue Solutions, RCS Technologies, Roamworks, Rockwell Automation, Inc., SAP, Schneider Electric, Siemens AG, Verizon and Vodafone Group, among others. To strengthen their position in the global remote asset management market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.

• In November 2019, AT&T and Nokia partnered to provide a Munich-based innovation studio to accelerate global adoption of current and next-generation Internet of Things (IoT) solutions. This partnership will allow AT&T to help solve business problems related to IoT solutions such as asset tracking while allowing it to tap into the European ecosystem.
• Siemens acquired Pixeom edge in October 2019 with the aim of providing Siemens’ future industrial edge ecosystem platform. It will facilitate the analysis, creation and management of state-of-the-art applications in production environments used by several manufacturers.
• Hitachi launched Hitachi Digital Solution, a logistics/delivery optimization service, in February 2019. The solution focuses on generating optimal delivery plans for logistics operations in Japan, China and Thailand using advanced digital technologies such as AI and IoT.

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The solutions segment led the market with a market share of around 62.4% and a market value of around 10.05 billion in 2020.

The component segment is divided into services and solutions. The solutions segment led the market with a market share of around 62.4% and a market value of around 10.05 billion in 2020.

The mobile asset segment is expected to grow at the fastest CAGR of around 17% during the forecast period.

The asset type segment is divided into fixed and mobile. The mobile asset segment is expected to grow at the fastest CAGR of around 17% during the forecast period

The on-premises segment led the market with a market share of around 62.12% and a market value of around 10 billion in 2020.

The deployment mode segment is divided into cloud and on-premises. The on-premises segment led the market with a market share of around 62.12% and a market value of around 10 billion in 2020.

The small and medium business segment is expected to grow at the fastest CAGR of around 18% during the forecast period.

The organization size segment is divided into small and medium enterprises, large enterprises. The small and medium business segment is expected to grow at the fastest CAGR of around 18% during the forecast period.

The manufacturing segment dominated the market with a market share of around 22.23% and a market value of around 3.58 billion in 2020.

The vertical segment is divided into Manufacturing, Building Automation, Healthcare, Energy & Utilities, Retail, Metallurgy & Mining, Transportation & Logistics, Others. The manufacturing segment dominated the market with a market share of around 22.23% and a market value of around 3.58 billion in 2020. Multiple data sources can be accessed in real time by the manufacturing solutions. analytical manufacturing. This, in turn, should reduce quality issues and asset failures, reducing maintenance costs and unplanned downtime, among other things.

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Regional Segment Analysis of Remote Asset Management Market

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

Among all regions, North America holds the largest position in the global remote asset management market and hence dominates the market with a market share of around 30.2% and a market value of ‘about 4.86 billion due to an increase in the adoption of advanced technologies and advancements. in an appropriate Internet infrastructure. It has many start-ups in countries like the United States and Canada, which offer powerful local solutions.

About the report:

The global remote asset management market is analyzed on the basis of value (USD billion). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply, Demand Analysis, Competitor Position Grid Analysis, analysis of distribution and marketing channels.

About The Brainy Insights:

The Brainy Insights is a market research company, aiming to provide businesses with actionable insights through data analytics to improve their business acumen. We have a robust forecasting and estimating model to meet customers’ high-quality production goals in a short period of time. We provide custom (customer specific) and syndicated reports. Our union reporting repository is diverse across all domain categories and subcategories. Our customized solutions are designed to meet customer requirements, whether they are looking to expand or planning to launch a new product in the global market.

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