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Remote Asset Management Market Expected to Drive Growth by Requirement for Efficient Operational Business Process at Lower Operating Costs
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Some of the major applications of remote asset management are smart commercial refrigeration, intelligent fleet management, streamlined waste water management, in-depth network security and smart asset tracking.
North America is expected to be the largest market for remote asset management owing to the presence of advanced telecommunication networks for information transfer and increasing proliferation of IoT technology in the region. The presence of number of remote asset management solution providers in North America also contributes in augmenting the growth of remote asset management market in the region. The requirement for efficient operational business process at lower operating costs is expected to drive growth in the remote asset management market.
Connected logistics and fleet management application in connectivity management platform segment of remote asset management, involve integration of IoT, big data and mobile technologies with the existing logistics and transport infrastructure. The integrated system enables automated functions such as real-time information transfer, vehicle maintenance scheduling, vehicle position tracking and related analytics, monitoring of engine performance. The application would assist supply chain managers to track and manage vehicle operations remotely with an added advantage of the ability to enhance customer support services.
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Some of the key players operating in the remote asset management market include AT&T Inc., Cisco Systems Inc., Hitachi, Ltd., Infosys Limited, IBM Corporation, PTC Inc., Rockwell Automation, Inc., SAP SE, Schneider Electric SE, and Verizon Communications Inc. These companies offer number of IT solutions for remote asset management.
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