Market Overview: Asset Management Software Landscape

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.