Plant Asset Management (PAM) Market by Offering (Software and Services), Deployment Mode (Cloud (online) and offline), Asset Type (Production and Automation), End-User Industry (Process and Discrete), and Geography - Global Forecast to 2022

“Plant asset management (PAM) market expected to exhibit significant growth potential between 2016 and 2022”
The plant asset management market is expected to be valued at USD 7.87 billion by 2022, growing at a CAGR of 10.7% between 2016 and 2022. The key driving factors for the growth of the PAM market are increasing adoption of lean manufacturing practices and growing demand for cloud-based PAM solutions, real-time data analysis, and failure detection software. However, high investment cost, need for periodic upgradation of plant asset management solutions, and complexity involved in installation are some of the key factors restraining the growth of the plant asset management market.

“The market for services segment expected to grow at the highest rate during the forecast period”
The services segment is expected to lead the global plant asset management market in terms of market share as well as CAGR during the forecast period. Increasing demand for industry-specific services is the key factor expected to drive the growth of the services segment.

“Oil and gas expected to account for the largest share of the PAM market during the forecast period”
The oil and gas industry is expected to hold the largest size of the plant asset management market during the forecast period. Safety and reliability of the oil and gas plant is crucial for the management of plant assets. Thus, the industry needs PAM solutions for ensuring the safety and operational efficiency of the oil and gas plants.

“APAC expected to be the fastest-growing market during the forecast period”
The plant asset management market in the APAC region is expected to grow at the highest rate between 2016 and 2022. The major factors driving the plant asset management market growth in the APAC region are continuous advancements and technological innovations in different industries, economic development in China, Japan, and India, growing infrastructure developments in India and other Southeast Asian countries, and increasing foreign investment in the region. Furthermore, the emergence of China as the major manufacturing hub is increasing the scope of PAM software and services in the region.

Break-up of the profiles of primary participants for the report:
‧ By Company Type: Tier 1—43%, Tier 2—32%, and Tier 3—25%
‧ By Designation: C-Level Executives—53%, Directors—26%, and Others—21%
‧ By Region: Americas—45%, Europe—27%, APAC—20%, and RoW—8%
The key players in the PAM market include ABB Ltd. (Switzerland), AB SKF (Sweden), Emerson Electric Co. (U.S.), Endress+Hauser Management AG (Switzerland), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Schneider Electric SA (France), Siemens AG (Germany), and Yokogawa Electric Corporation (Japan).

Research Coverage:
The research report on the global PAM market covers different segments, namely, offering, deployment mode, asset type, end-user industry, and geography. The market has been segmented on the basis of offering into software and services. On the basis of deployment mode, the PAM market has been classified into cloud (online) deployment and offline deployment. Asset types covered are production and automation assets. The report covers two types of industries, namely, process industry and discrete industry. Further, process industries have been segmented into chemical, oil and gas, energy and power, food and beverages, metals and mining, pharmaceutical and biotech, pulp and paper, and water and wastewater. Discrete industries include automotive, aerospace and defense, semiconductor and electronics, and medical device. The report covers four major geographical regions, namely, Americas, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).

Key Benefits of Buying the Report:
The report includes illustrative segmentation, analysis, and forecast for the market based on offering, deployment mode, asset type, industry, and geography.
Porter’s five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the PAM market.
The major drivers, restraints, opportunities, and challenges for the PAM market have been detailed in this report.
A detailed competitive landscape includes key players, in-depth analysis, and market share of the key players.

TABLE OF CONTENTS

1 INTRODUCTION 17
1.1 OBJECTIVES OF THE STUDY 17
1.2 MARKET DEFINITION 17
1.3 STUDY SCOPE 18
1.3.1 MARKETS COVERED 18
1.3.2 YEARS CONSIDERED FOR THE STUDY 19
1.4 CURRENCY 19
1.5 LIMITATIONS 19
1.6 STAKEHOLDERS 20
2 RESEARCH METHODOLOGY 21
2.1 RESEARCH DATA 21
2.1.1 SECONDARY DATA 22
2.1.1.1 Key data from secondary sources 22
2.1.2 PRIMARY DATA 23
2.1.2.1 Key data from primary sources 23
2.1.2.2 Key industry insights 24
2.1.2.3 Breakdown of primaries 24
2.2 MARKET SIZE ESTIMATION 25
2.2.1 BOTTOM-UP APPROACH 25
2.2.2 TOP-DOWN APPROACH 26
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 27
2.4 RESEARCH ASSUMPTIONS 28
3 EXECUTIVE SUMMARY 29
4 PREMIUM INSIGHTS 35
4.1 PAM MARKET, 2016–2022 (USD BILLION) 35
4.2 PAM MARKET, BY DEPLOYMENT MODE (2016–2022) 35
4.3 PAM MARKET, BY OFFERING (2016) 36
4.4 PAM MARKET, BY DISCRETE INDUSTRY AND REGION (2016) 36
4.5 PAM MARKET, BY GEOGRAPHY (2016) 37

5 MARKET OVERVIEW 38
5.1 INTRODUCTION 39
5.2 MARKET SEGMENTATION 39
5.2.1 BY OFFERING 39
5.2.2 BY DEPLOYMENT MODE 39
5.2.3 BY ASSET TYPE 40
5.2.4 BY END-USER INDUSTRY 40
5.2.5 BY GEOGRAPHY 41
5.3 MARKET DYNAMICS 42
5.3.1 DRIVERS 42
5.3.1.1 Increasing adoption of lean manufacturing practices 42
5.3.1.2 Growing demand for cloud-based PAM solutions 43
5.3.1.3 Increasing demand for real-time data analysis 43
5.3.1.4 Increasing demand for a software system which can determine failure in advance to avoid future loss 43
5.3.2 RESTRAINTS 44
5.3.2.1 High investment cost and need for periodic upgradation of PAM solutions limit the demand from end users 44
5.3.2.2 Complexity involved in the installation of PAM solution 44
5.3.3 OPPORTUNITIES 44
5.3.3.1 Increasing investment in greenfield projects expected to create robust growth opportunities for the PAM market 44
5.3.3.2 Increasing demand for industry-specific PAM solution 45
5.3.4 CHALLENGES 45
5.3.4.1 Issue of acceptance from operators before PAM implementation 45
6 INDUSTRY TRENDS 46
6.1 INTRODUCTION 46
6.2 VALUE CHAIN ANALYSIS 46
6.3 PORTER’S FIVE FORCES ANALYSIS 48
6.3.1 INTENSITY OF COMPETITIVE RIVALRY 49
6.3.2 THREAT OF SUBSTITUTES 50
6.3.3 BARGAINING POWER OF BUYERS 50
6.3.4 BARGAINING POWER OF SUPPLIERS 51
6.3.5 THREAT OF NEW ENTRANTS 52
7 MARKET ANALYSIS, BY OFFERING 53
7.1 INTRODUCTION 54
7.2 SOFTWARE 56
7.2.1 PAM SOFTWARE HELPS TO IMPROVE OPERATIONAL EFFICIENCY OF THE BUSINESS PROCESSES 56

7.3 SERVICES 56
7.3.1 INDUSTRY-SPECIFIC PAM SERVICES FOR EXPANDING THE VERTICAL EXPERTISE 56
8 MARKET ANALYSIS, BY DEPLOYMENT MODE 57
8.1 INTRODUCTION 58
8.2 OFFLINE DEPLOYMENT 59
8.2.1 INCREASING SAFETY AND SECURITY CONCERNS FORCE END-USER INDUSTRIES TO ADOPT OFFLINE DEPLOYMENT 59
8.3 CLOUD (ONLINE) DEPLOYMENT 60
8.3.1 QUICK DEPLOYMENT AND EASY ACCESS OF CLOUD IS EXPECTED TO INCREASE THE ADOPTION OF PAM MARKET DURING THE FORECAST PERIOD 60
9 MARKET ANALYSIS, BY ASSET TYPE 61
9.1 INTRODUCTION 62
9.2 PRODUCTION ASSETS 63
9.2.1 HIGH ADOPTION OF PAM SOLUTIONS FOR ROTATING AND RECIPROCATING EQUIPMENT 63
9.3 AUTOMATION ASSETS 64
9.3.1 PRESENCE OF NUMBER OF AUTOMATION SOLUTION PROVIDERS DRIVES
THE GROWTH OF PAM SOLUTIONS FOR AUTOMATION ASSETS 65
10 MARKET, BY END-USER INDUSTRY 66
10.1 INTRODUCTION 67
10.2 PROCESS INDUSTRY 68
10.2.1 CHEMICAL 72
10.2.1.1 High risk associated with fluctuations of raw material prices to encourage the adoption of PAM solutions in the chemical industry 72
10.2.2 ENERGY AND POWER 74
10.2.2.1 Increasing adoption of automation assets in power industry is expected to drive the growth of the PAM market 74
10.2.3 FOOD AND BEVERAGES 77
10.2.3.1 Increasing adoption of PAM solutions by food & beverages manufacturers to extract the huge amount of data 77
10.2.4 METAL AND MINING 79
10.2.4.1 Increasing need of preventive maintenance encourages the adoption of PAM solutions 79
10.2.5 OIL AND GAS 82
10.2.5.1 Adoption of corrosion-monitoring system to drive the growth of the PAM market 82
10.2.6 PHARMACEUTICAL AND BIOTECH 84
10.2.6.1 Complex manufacturing of pharmaceuticals leading to the adoption of PAM solutions 84
10.2.7 PULP AND PAPER 87
10.2.7.1 Increasing PAM solution offerings by key players in the industry 87

10.2.8 WATER AND WASTEWATER 89
10.2.8.1 Major applications of PAM in water and wastewater industries 89
10.3 DISCRETE INDUSTRY 92
10.3.1 AEROSPACE AND DEFENSE 95
10.3.1.1 High equipment cost encourages adoption of the PAM solutions to avoid the risk of asset failure 95
10.3.2 AUTOMOTIVE 97
10.3.2.1 Technological advancements in the automotive industry drive the PAM market growth 97
10.3.3 SEMICONDUCTOR AND ELECTRONICS 100
10.3.3.1 High competition in the industry encourages the adoption of PAM solutions to enhance the productivity 100
10.3.4 MEDICAL DEVICE 102
10.3.4.1 Major application of PAM solutions into the medical device industry- 103
11 GEOGRAPHICAL ANALYSIS 105
11.1 INTRODUCTION 106
11.2 AMERICAS 108
11.2.1 INCREASING DEMAND FOR IIOT AND CLOUD-BASED PAM SOLUTIONS IN
THE REGION 108
11.2.2 NORTH AMERICA 110
11.2.2.1 U.S. 112
11.2.2.1.1 Increasing demand for plant services in renewable power plants 112
11.2.2.2 Canada 113
11.2.2.2.1 Increasing demand for PAM solutions from oil and gas industry 113
11.2.2.3 Mexico 113
11.2.3 SOUTH AMERICA 113
11.2.3.1 Brazil 114
11.2.3.1.1 Increasing adoption of PAM solutions in metal and mining industry 114
11.2.3.2 Argentina 115
11.2.3.2.1 Growing power industry to fuel the growth of the PAM market 115
11.2.4 REST OF SOUTH AMERICA 115
11.3 EUROPE 115
11.3.1 U.K. 117
11.3.1.1 Increasing adoption of PAM solutions in automotive and power industries 117
11.3.2 GERMANY 118
11.3.2.1 Presence of highly competitive and innovative automotive manufacturing companies in the region 118

11.3.3 FRANCE 118
11.3.3.1 Growing manufacturing sector in the country encourages adoption of PAM solutions 118
11.3.4 REST OF EUROPE 119
11.4 APAC 119
11.4.1 CHINA 122
11.4.1.1 Increasing semiconductor and electronics manufacturing expected to fuel the growth of the PAM market 122
11.4.2 JAPAN 123
11.4.3 SOUTH KOREA 123
11.4.3.1 High adoption of PAM solutions in discrete industries 123
11.4.4 REST OF THE APAC 123
11.5 REST OF THE WORLD 124
11.5.1 MIDDLE EAST 124
11.5.1.1 High adoption of PAM solutions in the oil and gas industry 124
11.5.2 AFRICA 126
12 COMPETITIVE LANDSCAPE 127
12.1 OVERVIEW 127
12.2 COMPETITIVE ANALYSIS 128
12.2.1 MARKET RANKING ANALYSIS: PAM MARKET, 2015 128
12.3 COMPETITIVE SITUATIONS AND TRENDS 129
12.3.1 NEW PRODUCT LAUNCHES AND DEVELOPMENTS 130
12.3.2 AGREEMENTS/COLLABORATIONS/CONTRACTS 132
12.3.3 ACQUISITIONS AND EXPANSIONS 133
13 COMPANY PROFILES 134
(Company at a Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
13.1 INTRODUCTION 134
13.2 ABB LTD. 135
13.3 EMERSON ELECTRIC CO. 138
13.4 HONEYWELL INTERNATIONAL, INC. 141
13.5 ROCKWELL AUTOMATION, INC. 144
13.6 SIEMENS AG 147
13.7 YOKOGAWA ELECTRIC CORPORATION 150
13.8 GENERAL ELECTRIC CO. 154
13.9 ENDRESS+HAUSER MANAGEMENT AG 156
13.10 SCHNEIDER ELECTRIC SE 158
13.11 AB SKF 160
*Details on company at a glance, recent financials, products & services, strategies & insights, & recent developments might not be captured in case of unlisted companies.
14 APPENDIX 162
14.1 INSIGHTS OF INDUSTRY EXPERTS 162
14.2 DISCUSSION GUIDE 163
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 165
14.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 167
14.5 AVAILABLE CUSTOMIZATIONS 169
14.6 RELATED REPORTS 169
14.7 AUTHOR DETAILS 170