Press release
Remote Asset Management Market 2018 Analysis by Cisco, SAP, IBM, AT&T, Hitachi, Verizon, PTC, Rockwell Automation, Schneider Electric, Infosys
Key Players:
The key players in the global remote asset management market include IBM Corporation (U.S.), Cisco Systems, Inc U.S.),AT&T Intellectual Property (U.S), Hitachi, Ltd. (Japan), Verizon Communications, Inc. (U.S.), PTC Inc. (U.S.), SAP SE (Germany), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), and Infosys Limited (India) and others.
The global remote asset management market is expected to reach USD ~27 billion by the end of 2022 with ~27 % CAGR during forecast period 2017-2022.
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Market Highlights
Remote Asset Management opens up two-way communication between the asset and the central application, resulting in better control and management of assets. Assets are deployed with Vodafone SIMs and are tracked to monitor over a central system. The key functionalities of this solution include intrusion detection, access control systems, asset tracking, asset recovery, real-time monitoring, real-time notifications, and others.
The major drivers fuelling the growth of the market include increasing enhancing asset lifecycle, declining cost of IoT components, increasing demand for IoT based solutions.
Remote Asset Management Market
According to Market Research Future, market has been segmented into application, solutions and region.
By Solutions-
Surveillance and security
Network Bandwidth management
Asset Performance management
Application management
Connectivity management
Professional services
Managed services
Real-time location tracking
Asset condition monitoring
Predictive maintenance
By Application-
Automation
Healthcare and wellness
Smart retail
Utilities and grids
Production monitoring
Connected logistics
Fleet management
Others
Connected logistics & fleet management accounted for the largest market share because of the integrating advanced technologies, delivering real-time online information for vehicle maintenance, vehicle status whether its moving or stopped, engine status and others. It also helps supply chain managers because of asset tracking.
Predictive maintenance accounted for the largest market share majorly due to providing solutions for asset failure or quality issues, reduction in maintenance costs. Also, predictive maintenance plays an important role across various industries.
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Market Research Future Analysis
The global remote asset management market is expected to grow significantly. The market is highly application basis. Connected Logistics segment of remote asset management market globally drives the market. The market is expected to have higher growth rate as compared to the previous years.
North-America accounted for the largest market share because of the technological advancements followed by healthy internet infrastructure, adoption of new technology and presence of strong local solution providers. Also, the need for better operational efficiency and low operating cost is also driving the market in this region.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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