Remote Asset Management Market Size


The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Remote Asset Management Market Size. The growth sectors of the Remote Asset Management Market Size are identified with precision for a better growth perspective.

Globalization has impacted the industries as new innovations and development are taking place globally in different industries and in manufacturing plants. The development and utilization of IoT devices has increased the wireless communication among devices, increasingthereby increasing the security and data sharing of the among device. Remote asset management provides maintenance and remote monitoring of machines, assets, and systems for different industries. The utilization of remote asset management solutions enableenabless the organization and enterprises to advance the improve operational efficiency with predictive and preventive maintenance . This eventually, resultsing in better control and management of assets. One of the advantageadvantages of remote asset management is that it improves remote authorization of assets and reduce maintenance costs, as the software informs the functionality, health and other important features of the .machine.

There are factors that are driving remote asset management market. One of the major factors that drives the remote asset market is the increasing demand for connected devices as the IoT devices are increasing in different residential and commercial sectors such as smart kitchen equipment’s for residential sector and smart devices for industrial sector for different industries such as power and energy industries, oil and gas industry, healthcare and various different industries. Moreover, the improved infrastructure and strong internet network is adding fuel for the market growth as it enables the communication between the devices in real-time, enabling to evaluate the functioning and performance of the device or a .machine. Similarly, the increasing government expenditure in ICT (Information, Communication and Technology) are leading for the market growth. In, the digitalization age, the government is also digitalizing, leading towards utilization of IoT devices, this enables the government to know the machine or the device functionality and informs about the maintenance. Other factors that are also contributing in the market growth are increase in broadband penetration, high mobile adoption, growing need for optimization of asset lifecycle, decreasing cost of IoT sensors, and significant advancements in the field of IoT. However, expensive asset management solutions is considered to hinder the market growth.

Industry News

July 9, 2018, Companies collaborating on asset management for energy sector

ForeScout Technologies, TDi Technologies, FoxGuard Solutions, Tripwire, Dragos, Splunk, KORE Wireless, and Veracity Industrial Networks have joined the National Cybersecurity Center of Excellence (NCCoE) and various different companies such as Tripwire, Dragos, Splunk, and others have joined the National Cybersecurity Center of Excellence (NCCoE) technology collaborators in the Energy Sector Asset Management (ESAM) Project. This collaboration was made, as the energy providers requires to improve their OT asset management capabilities, especially for remote assets, to mitigate vulnerabilities and opportunities for malicious attacks.

April 2017, Trimble Inc., inked a partnership with Railhead Corporation

Trimble Inc., a US based company had a partnership collaboration with Railhead Corporation. The collaboration will enables Railhead to get access to the Trimble R2M system to improve safety, tracking, and operations in rail operations. This system enables real-time monitoring of rail assets and provides condition-based reporting.

Remote Asset Management Market - Segmentation

Based on component, the market is segmented into real-time location tracking, asset condition monitoring, predictive maintenance, surveillance and security, network bandwidth management, asset performance management, application management, connectivity management, professional services, managed services and others.

Based on application, the market is segmented into automation, healthcare and wellness, smart retail, utilities and grids, production monitoring, connected logistics, fleet management and others

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Global Remote Asset Management Market Report- Forecast 2022|MRFR
Remote Asset Management Market by Solutions and Application, Global Remote Asset Management Market…

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