Market Highlights

As per Market Research Future (MRFR), the global Remote Asset Management Market Share is relied upon to arrive at USD 27 billion, with 27% CAGR from 2017 to 2022 (estimate period). The report diagrams the fundamental factors that are probably going to essentially help or block the development of the global remote asset management market. The concentrate additionally reveals insight into the conceivable effect of COVID-19 on the improvement of the global remote asset management market.

Remote upkeep and observing of gear, assets, and frameworks with the help of the focal framework is known as remote asset management. The various elements of this framework incorporate asset control and following, interruption discovery, and constant warning. A remote asset management framework assists associations with computerizing some of their normal business undertakings and utilize their assets to assist them with improving on their navigation.

Market Dynamics

The developing acknowledgment of IoT in different associations for various organizations has added to an increment in the quantity of associated gadgets that can fuse various components of the asset lifecycle. This is the primary element that adds to the development of the remote asset management market. The minimization of the expense of IoT parts has created an overall interest for the item. The expanding need for ongoing observing and preventive and prescient upkeep across associations has provoked an interest for a remote asset management framework. The execution of remote asset management frameworks has drastically upgraded the profit from venture of asset-serious undertakings, in this manner expanding the interest for frameworks. The approach of cloud-based remote asset management arrangements has made execution practical, opening up new open doors for market players.

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Segmentation:

For the purpose of this study, MRFR has divided the global remote asset management market into solution and application.

By solution, the global remote asset management market has been segmented into surveillance and security, network bandwidth management, asset performance management, application management, connectivity management, professional services, managed services, real-time location tracking, asset condition monitoring, and predictive maintenance.

By application, the global remote asset management market has been segmented into automation, healthcare and wellness, smart retail, utilities and grids, production monitoring, connected logistics, fleet management, and others.



Regional Analysis

By region, the global remote asset management market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.

North America dominates the market for remote asset management systems. The growth of this regional market is powered by the rapid speed of digitization, significant developments in the field of IoT, and the growing adoption of automated real-time solutions across various organizations. In addition, the growing presence of regional solution providers offering cloud-based remote asset management solutions is expected to generate demand for remote asset management in the North American region.

Market growth in the Asia Pacific region is attributed to the increasing popularity of IoT among different companies in order to streamline and manage their asset life cycles.

Key Players

The key participants identified by MRFR operating in the global remote asset management market include IBM Corporation (U.S.), Cisco Systems, Inc (U.S.), AT&T Intellectual Property (U.S), Hitachi, Ltd. (Japan), Verizon Communications, Inc. (U.S.), PTC Inc. (U.S.), SAP SE (Germany), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Infosys Limited (India) and others.

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Global Remote Asset Management Market, by Solutions (Predictive Maintenance, Analytics, Asset Condition Monitoring & Performance Management), by Application (Automation, Healthcare and Wellness, Retail, Utilities and Smart Grids, Production Monitoring) - Forecast 2027

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