Tech Roadmap For Asset Management Technologies

Published 20 May 2019 by Dennis Callaghan & David Metcalfe &

Asset Integrity Asset Performance Management Software Control Of Work Digital Twin Drones / UAVs Operational Excellence Tech Roadmap

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Executive Summary

This Tech Roadmap report clarifies the business value, pace of innovation and maturity of 23 asset management technologies. Verdantix conducted a fact-based assessment of the maturity, innovation, future prospects and business value of each solution. Operations and facilities managers responsible for selecting technologies for asset lifecycle management should use this report to identify the technologies that can add value to their operations. The technologies identified range from emerging categories such as video analytics for asset condition monitoring to a variety of asset health analytics tools, asset performance management software and operational risk management software. Technology buyers can use the Tech Roadmap methodology to identify new technologies for pilot projects and also to develop technology strategy plans. Risk averse firms should focus on the potential of technologies with proven business value which are in the growth or maturity phases of the technology lifecycle. Innovators and early adopters should take note of launch phase technologies.

Introducing Tech Roadmap Analysis
Key Questions Answered By Tech Roadmap Analysis
Tech Roadmap Analysis Aligns With Asset Management Strategies

Tech Roadmap For Asset Management Technologies
Defining The Market For Asset Management Technologies

Methodology Overview
Identifying The Five Market Phases Of Technology Maturity
Three Technology Life Cycles Differentiate Business Value
Technology Adoption And Success Influence Positioning
Pace Of Innovation Determines The Time To Next Life Cycle Phase
How To Use Tech Roadmap Analysis For Portfolio Management

Phase 1: Research and Development
No Technologies Identified

Phase 2: Launch
2.1 Video Analytics
2.2 Digital Twins For Industrial Facilities
2.3 Industrial Internet of Things (IIoT) Platforms
2.4 Prescriptive Maintenance Analytics
2.5 Wireless Sensors
2.6 Mobile Inspection Management
2.7 Control of Work Software
2.8 Predictive Failure Analytics

Phase 3: Growth
3.1 Asset Reliability Analytics
3.2 Fault Detection & Diagnostics (FDD)
3.3 Inspection Drones
3.4 Asset Performance Management (APM) Software
3.5 Management of Change (MOC) Software
3.6 RFID Asset Tracking
3.7 QR Code Asset Tracking

Phase 4: Maturity
4.1 Manufacturing Execution Systems (MES)
4.2 Remote Condition Monitoring
4.3 Distributed Control Systems (DCS)
4.4 Process Historian Databases
4.5 Enterprise Asset Management (EAM) Software
4.6 Computer-Aided Facilities Management (CAFM)
4.7 Energy Management Software
4.8 Computerized Maintenance Management Systems (CMMS)

Phase 5. Decline
No Technologies Identified

Table of figures

Figure 1. Tech Roadmap For Asset Management Technologies

Organisations mentioned

3D Robotics, 4Site, ABB, Accruent, AeroVironment, AgentVi, Airsweb, Akselos, Amazon Web Services IoT, Ambarella, Amber Technical Solutions, Ameresco, API Maintenance Systems, Aptean, Arrelic, Artis Energy Intelligence, ASAP Systems, AspenTech, Asset Analytix, Asset Panda, AssetTiger, Atonix Digital, Autodesk, Avandel, Avetics, AVEVA, Avigilon, Bentley Systems, BidEnergy, Bigfoot Software, Biz4Intellia, Bsquare, BuildingIQ, BuildPulse, C3 IoT, CAFM Explorer, Cape Aerial Telepresence, Carbon Credentials, Causeway Technologies, CHEQROOM, Chevron Phillips, CMMS Data Group, Concerto, Coreworx, Cority, Cortexica Vision Systems, Cyberhawk, Daikin, Dakota Software, Dassault Systèmes, Dematic, Detechtion, DEXMA Energy Management, DJI, DNV GL, Dresser-Rand, DroneDeploy, Eagle Technology, eMaint, Emerson, Enablon, Encana, EnerNOC, Engica, Enviance, Envizi, Epicor, Epitome Solutions, ePROMIS, eSight Energy, ETQ, eVision, Excitech, Exxon Mobil , ExPD, EZOfficeInventory, Flowserve, Flyability, Flying Saucer Aerial Solutions, FMIS, Form.com, Fractal Solutions, Frontline Data Solutions, GE Digital, Gensuite, GigaTrak, Guardhat, Hexagon, HID Global, HMS Industrial Networks, Honeywell, Huntsman Corporation, IBM, ICONICS, Identiv, IFS, Imageworks, IMCI Technologies, Industrial SkyWorks, Influx Data, Infor, inLogic, Insitu, Intel, Intelex, iProcess, IPS Solutions, IQMS, iSite, IsoMetrix, itemit, j5 International, Johnson Controls, kanepi, KGS Buildings, Lloyd’s Register, Lockheed Martin, M2M Data Corporation, Magellan Midstream Partners, Mainsaver, MAPCON, Maersk, Martek, Maxpanda, Measure, Megamation, MGM Solutions, Microsoft, Mobile Epiphany, Nexus Global, NimbeLink, Nortal, Omni-ID, Oracle, OSIsoft, Oxand, Pacific Controls, Parrot, Petrotechnics, Planon, Plex, PrecisionHawk, Prevas, ProcessMAP, Pronto Forms, PTC, Quentic, Ramco Systems, RAP International, Redbeam, ReliaSoft, RiskPoynt, RMS Omega, Rockwell Automation, Rolls-Royce, SAI Global, SAP, SAS, Schneider Electric, SenseGrow, ServiceChannel, Siemens, Sierra Wireless, SkyFoundry, Sky-Futures, Smartsheet, Solar Light, SOMAX, SparkCognition, Sphera, SSG Insight, Switch Automation, TE Connectivity, Tego, TEKLYNX, TenForce, The Dow Chemical Company, Trackplan, UL, Ultimo Software Solutions, United Technologies, University of Salford, Upkeep Technologies, Uptake, Urjanet, Valarm, VelocityEHS, Veolia, Vernier Sensors, Vintra, VirtueInspect, Wasp AssetCloud, Weatherford International, WhipAround, WiseTrack, Wi-Tronix, Wonderware, Yokogawa, Yokogawa SENCOM, Yuneec

About the authors

Dennis Callaghan

Principal Analyst

Dennis is a Principal Analyst at Verdantix, contributing to both the Operational Excellence and Smart Buildings practices. His current research agenda focuses on covering asset performance management technologies across both industrial and smart buildings use cases, including Internet of Things monitoring and data analysis. Dennis has over 10 years’ experience in industry research and strategy. He previously worked at 451 Research, where he led that firm’s coverage of application performance management and IT service and asset management technologies. He has written about technology as a journalist, industry analyst or marketer for more than 20 years. Dennis holds a BA in journalism from Duquesne University.

David Metcalfe

CEO

David co-founded Verdantix in 2008 and leads the firm’s research and advisory work on the digitization of Operational Excellence which covers software, systems integration, wearables and drones. Prior to founding Verdantix, David was a Senior Vice President at Forrester Research and Head of Analysis and Forecasting for BT. He holds a PhD from Cambridge University in Game Theory and Decision Analysis and worked as a Research Associate at the Harvard Business School.