Asset Performance Management Market Bursts Into Life With Ambitious Strategies
In the industrial software market, asset performance management (APM) software has emerged as a key battleground for the hearts and minds of customers. How important are multi-layered digital twin simulations? What value do customers place on 3D visualization? Do autonomous agents for asset failure prediction modelling speed up time to value? Should maintenance optimization be part of the APM portfolio? How much buy in is there to cloud APM? To answer these questions – and many more – Verdantix conducted a four-month research process into APM solutions from 11 of the most prominent vendors. This included livime product demonstrations, a survey of 284 managers in engineering, maintenance and operations roles and assessment of the products and vendors on 116 criteria.
When assessed in terms of the breadth and depth of their APM capabilities and their market momentum, four vendors – AspenTech, AVEVA, Bentley Systems and GE Digital – were positioned in the Leaders’ Quadrant. But software capabilities and vendor success alone are not sufficient to inform short listing decisions. The study also flags up the criticality of considering industry expertise and customer traction. Readers of the report, “Green Quadrant: APM Solutions 2020” will also get insight into the industry penetration of each vendor across 18 asset classes including chemicals, manufacturing, offshore oil and gas, oil refining, power grids and railway operations. To get a deep dive into the insights from the study apply to attend the forthcoming webinar.