Market Overview: Asset Management Software Landscape

Access this research

An Operational Excellence subscription is needed to access this content.

Please choose an option below

Executive Summary

This study maps out the structure of the asset management software market, identifies the drivers of change and analyses the path ahead. Future Verdantix reports will provide deeper analysis and benchmarks for each of the solution categories. This report is written for chief strategy officers, VPs of products, and heads of marketing in firms that offer asset management software solutions to guide their product strategies. This report is also for VPs of operations, heads of asset management and reliability engineering managers to inform software purchasing decisions. Multiple factors drive the asset management software market, including response to the twin shocks of the pandemic and economic downturn in 2020, cost-cutting programmes, and the availability of new technology. The market has expanded over the last few decades to include five segments: asset information management, asset maintenance, asset performance management, asset investment planning and process safety management. Customers’ spending and requirements drive developments in the market, including new analytics, digital twins and workforce management solutions.
 

Table of contents

Improving Industrial Asset Management With Digital Technologies Gathers Pace  
Asset Management Digitization Driven By Operational Excellence Agenda
Industrial Asset Management Market Is Comprised Of Myriad Segments Delivered By Disparate Software Categories
Software Supplier Product Strategies Have Evolved Significantly In Response To Customer Demand

Availability Of New Technology Enables Asset Optimization Strategies  
Technology Enablers Have Enhanced The Asset Management Software Value Proposition
Spend On Asset Management Software Applications Is On The Rise
Future Developments For Asset Management Software Applications Focus On Predictive Analytics And Digital Twin Simulations 
 

Table of figures

Figure 1. Factors Driving Investment In Operational Excellence
Figure 2. Asset Management Software Market Segments
Figure 3-1. Asset Management Software Landscape 
Figure 3-2. Asset Management Software Landscape 
Figure 4. Asset Management Software Timeline
Figure 5. Software Investment Plans For Operational Excellence Processes In 2021
Figure 6. Significance Of Digital Innovations For Operational Excellence In 2021 and 2022 

About the authors

Malavika Tohani

Research Director

Malavika leads the Verdantix Operational Excellence practice. Her current research agenda focuses on the digitization of Operational Excellence and covers operational risk technologies, best practices and growth strategies. Her recent research focussed on benchmarking the capabilities of the prominent operational risk software vendors. She has over 10 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.

Sebastian Winter

Industry Analyst

Sebastian is a Technology Analyst in the Verdantix Operational Excellence practice. His research agenda focuses on covering industrial risk technologies, best practices and growth strategies. Prior to joining Verdantix, Sebastian worked for Trucost, a division of S&P Dow Jones Indices, and held positions in China, Brunei and Kenya. Sebastian holds an MSc in Environmental Technology from Imperial College London.

Related Reports

Not a Verdantix client yet?

Register with Verdantix for authoritative data, analysis and advice to allow your business to succeed.