How Should Industrial Firms Refresh Their Digital Asset Management Strategies in 2022?

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Executive Summary

This report provides current customers and prospective buyers of industrial asset management software with strategic guidance on how to make the best purchase decisions in the context of an evolving market. The increasing involvement of financial investors and corporate groups has significantly impacted the market dynamics. Overall, this is good news for buyers and users as the cash injections have funded more robust products. But vendors without sufficient scale or financial backing will find they are struggling in a market with bigger and better funded rivals. Financial firepower to drive innovation, industry expansions, and new technical requirements have significantly changed the assessment criteria that buyers should apply. From 2022, the market reshuffle will also be reflected in new value propositions outside core asset management systems such as DataOps, production optimization, emissions monitoring and energy management.

Table of contents

The Market Is Reshuffling Around Core Industrial Use Cases 
Market Reshaping Is Propelled By Aggressive Inorganic Product Expansion Strategies
Emergence Of Point Solutions Creates New Options For Tech Buyers 
Four Key Factors Can Enable Modern Digital Asset Management Strategies For Industrial Organizations 
Customers Must Decide Between Four Technology Strategies

Table of figures

Figure 1. Notable M&A And Partnerships In The Industrial Asset Management Tech Market  
Figure 2. Use Case And Vendor Category Mapping  
Figure 3. Use Case Definitions Of Industrial Asset Management Software  
Figure 4. Technology Stack And Information Exchange Of Asset Management Applications  
Figure 5. Four Digital Asset Management Strategies For Mature Industrial Organizations  

About the authors

Victor Voulgaropoulos

Senior Analyst

Victor is a Senior Analyst in the Verdantix Operational Excellence practice. His research agenda focuses on asset management solutions and their overlap with industrial risk management technologies and digital twins. His advisory portfolio includes go-to-market, growth strategy, commercial due diligence and digital strategy projects for corporates, vendors and investors. Prior to joining Verdantix, Victor was a research associate at Imperial College London and Massachusetts Institute of Technology, providing engineering advisory services for clients in the energy industry (oil & gas, nuclear and solar). Victor holds a PhD in Process Engineering from University College London.

Malavika Tohani

Research Director

Malavika leads the Verdantix Operational Excellence practice. Her current research agenda focuses on digital technologies for Operational Excellence including digital twins and software solutions for industrial risk and asset management. Malavika has over 15 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.

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