Green Quadrant: Asset Performance Management Solutions 2022
08 Sep, 2022
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Executive Summary
This report provides a detailed fact-based comparison of the most prominent asset performance management (APM) software vendors in the market today. Based on the proprietary Verdantix Green Quadrant methodology, our analysis encompassed two-and-a-half-hour live product demonstrations with pre-set scenarios, and considered vendor responses to a 206-point questionnaire covering 10 technical, 10 functional and 12 market momentum categories. We also conducted interviews with 10 APM software users and reviewed the data from our global survey of 256 operational excellence decision-makers. Spend on APM software is set to grow, with providers looking to differentiate through partnerships and acquisitions, increased mobile and wearable functionality, 3D visualizations and digital twin simulations, and rapid implementations to garner quicker returns on investment (ROI). Among the software vendors featured in the Leaders’ Quadrant, seven firms—AspenTech, AVEVA, Bentley Systems, Cognite, GE Digital, Hitachi Energy, IBM—demonstrated the most advanced all-round APM software capabilities
State of the Asset Performance Management Software Market
The Evolution Of APM: From Asset Maintenance To Reliable And Sustainable Plant Operations
Growth In The APM Software Market Is Driven By Cost-Cutting Programmes And Improved Availability Of Data
Spend On APM Software Is On The Rise
APM Software Vendors Hail From Five Distinct Backgrounds, Each With A Different Market Positioning And Approach
APM Vendors Support Plant-Wide Performance And Sustainability Strategies
Green Quadrant For APM Software 2022
Green Quadrant Methodology
Scope And Methodology For The 2022 Green Quadrant APM Software Study
Evaluated Providers: Selection Criteria
Evaluation Criteria For APM Software
AspenTech Provides Best-In-Class Failure Prediction And Investment Planning Capabilities To Optimize Asset Performance For The Process Industries
AVEVA Offers Exceptional AI Models And Asset Libraries To Help Firms Support Reliability Analysis And Integrity Management
Baker Hughes Combines Domain Expertise With AI-Driven Solutions To Solve Asset Management Challenges For Oil And Gas Firms
Bentley Systems Leads With Its Digital Twin Solutions For Asset Information Management And Failure Prediction
Cenosco Invests To Offer Strong Risk And Asset Integrity Management Software To Oil And Gas Firms
Cognite’s Industrial DataOps Platform Emerges As A Market Leader For Condition Monitoring And Environmental Performance
DNV’s APM Software Supports The Energy Industry In Managing Risk And Improving The Reliability Of Critical Assets
Flutura Combines AI Analytics With Physics-Based Models To Deliver Enhanced Digital Twin Strategies For Improved Environmental Performance And Asset Uptime
GE Digital Offers Market-Leading APM Software To Help Firms Digitize Their Asset Maintenance Strategies
Hitachi Energy Combines Strong Data Management And Analytics With Subject Matter Expertise To Offer A Leading APM Solution To Power Utilities
Honeywell Combines Process Modelling Expertise With Predictive Machine Learning Analytics To Deliver Increased Asset Reliability
IBM Solves A Broad Range Of Asset Management Challenges With Its Maximo Application Suite Platform
SAP’s Intelligent Asset Management Portfolio Maximizes Asset Health And Optimizes Maintenance Strategies
SymphonyAI Industrial Optimizes Plant And Asset Performance By Fusing Physics And AI-Based Asset Failure Prediction Methods
Uptake Offers Robust Data Management And Asset Health Monitoring Capabilities To Firms In The Transport And Government Sectors
The Evolution Of APM: From Asset Maintenance To Reliable And Sustainable Plant Operations
Growth In The APM Software Market Is Driven By Cost-Cutting Programmes And Improved Availability Of Data
Spend On APM Software Is On The Rise
APM Software Vendors Hail From Five Distinct Backgrounds, Each With A Different Market Positioning And Approach
APM Vendors Support Plant-Wide Performance And Sustainability Strategies
Green Quadrant For APM Software 2022
Green Quadrant Methodology
Scope And Methodology For The 2022 Green Quadrant APM Software Study
Evaluated Providers: Selection Criteria
Evaluation Criteria For APM Software
AspenTech Provides Best-In-Class Failure Prediction And Investment Planning Capabilities To Optimize Asset Performance For The Process Industries
AVEVA Offers Exceptional AI Models And Asset Libraries To Help Firms Support Reliability Analysis And Integrity Management
Baker Hughes Combines Domain Expertise With AI-Driven Solutions To Solve Asset Management Challenges For Oil And Gas Firms
Bentley Systems Leads With Its Digital Twin Solutions For Asset Information Management And Failure Prediction
Cenosco Invests To Offer Strong Risk And Asset Integrity Management Software To Oil And Gas Firms
Cognite’s Industrial DataOps Platform Emerges As A Market Leader For Condition Monitoring And Environmental Performance
DNV’s APM Software Supports The Energy Industry In Managing Risk And Improving The Reliability Of Critical Assets
Flutura Combines AI Analytics With Physics-Based Models To Deliver Enhanced Digital Twin Strategies For Improved Environmental Performance And Asset Uptime
GE Digital Offers Market-Leading APM Software To Help Firms Digitize Their Asset Maintenance Strategies
Hitachi Energy Combines Strong Data Management And Analytics With Subject Matter Expertise To Offer A Leading APM Solution To Power Utilities
Honeywell Combines Process Modelling Expertise With Predictive Machine Learning Analytics To Deliver Increased Asset Reliability
IBM Solves A Broad Range Of Asset Management Challenges With Its Maximo Application Suite Platform
SAP’s Intelligent Asset Management Portfolio Maximizes Asset Health And Optimizes Maintenance Strategies
SymphonyAI Industrial Optimizes Plant And Asset Performance By Fusing Physics And AI-Based Asset Failure Prediction Methods
Uptake Offers Robust Data Management And Asset Health Monitoring Capabilities To Firms In The Transport And Government Sectors
Figure 1. Technology Stack And Information Exchange Of Asset Management Applications
Figure 2. Evolution of Asset Performance Management
Figure 3. Operational Excellence Business Priorities In 2022
Figure 4. Drivers Of Investment In Asset Management Software In 2022 And 2023
Figure 5. Adoption of Software
Figure 6. APM Software: Market Drivers
Figure 7. APM Software Market Forecast: 2021-2026
Figure 8. APM Software: Provider Landscape
Figure 9. Operational Excellence Consulting Projects: Expected Use Of Service Providers In 2022
Figure 10. Asset Management Software Market Transactions
Figure 11. Technical Capabilities Criteria for APM Software
Figure 12. Functional Capabilities Criteria for APM Software
Figure 13. Momentum Capabilities Criteria for APM Software
Figure 14. Green Quadrant: Asset Performance Management Solutions 2022
Figure 15. APM Vendor Capability Scores
Figure 16. APM Vendor Momentum Scores
Figure 2. Evolution of Asset Performance Management
Figure 3. Operational Excellence Business Priorities In 2022
Figure 4. Drivers Of Investment In Asset Management Software In 2022 And 2023
Figure 5. Adoption of Software
Figure 6. APM Software: Market Drivers
Figure 7. APM Software Market Forecast: 2021-2026
Figure 8. APM Software: Provider Landscape
Figure 9. Operational Excellence Consulting Projects: Expected Use Of Service Providers In 2022
Figure 10. Asset Management Software Market Transactions
Figure 11. Technical Capabilities Criteria for APM Software
Figure 12. Functional Capabilities Criteria for APM Software
Figure 13. Momentum Capabilities Criteria for APM Software
Figure 14. Green Quadrant: Asset Performance Management Solutions 2022
Figure 15. APM Vendor Capability Scores
Figure 16. APM Vendor Momentum Scores
Quentic, Seeq, Capital Power, Sasol, National Grid US, Accenture, Micromine, Nexus Global, FirstEnergy, HighByte, Petrogenium, ABB, MachineMetrics, Yokogawa, Rockwell Automation, GTT, Indian Oil Corporation Limited (IOCL), Infor EAM, Microsoft, Petronas, SCG Chemicals, Lupin, Bermunda Electric Light Company (BELCO), Revolution, Sinopec, Cognite, TwinThread, Caterpillar Ventures, Fidelis Group, International Organization for Standardization (ISO), Chevron, Detechtion Technologies, Capgemini, Flutura, DNV , Epicor, OCP Ecuador, ReliaSoft, PepsiCo, ADNOC, Intel, AWS, Atos, BHE Renewables, Proceedix, Delta Air Lines, Uptake, Cenosco, Stress Engineering, Oracle, Fortino Capital, Reliability Center Inc. (RCI), Itus Digital, L&T Technology Services, US Department of Defense, Lumis Partners, Hexagon, Hitachi Vantara, Google, GreatPoint Ventures, Inner Mongolia Power Group, OneBridge Solutions, General Electric, Baker Hughes, China Southern Power Grid, Ascend Performance Materials, Bentley Systems, Schneider Electric, IFS, Hess Corporation, Sweco, Oniqua, International Electrotechnical Commission (IEC), Senseye, Hitachi Energy, Pragma, Grundfos, The Hive, Operations1, DevonWay, BASF, Stork, Metegrity, BISTel, Cosmo Tech, Mtell, Chevron Phillips Chemical, Ameren, NiSoft, Symphony AI Group, The Cohesive Companies, Sibur, Industrial Analytics, Reliance, E.ON, SAP, Realwear, ShookIOT, SparkCognition, Brightly Software, Société Algérienne de Production de l’Electricité (SPE), ENGIE, LUKOIL, Fluke, Wipro, Probit Consulting, International Council on Large Electric Systems (CIGRE), UpKeep, Metropolitan Atlanta Rapid Transit Authority (MARTA), Air Liquide, Schlumberger, Thai Oil, Savigent, Sparta Systems, CNTXT, Hitachi High-Tech Solutions, Mitsubishi Heavy Industries, Arcadis, TechnipFMC, Azima Global, Isograph, Bently Nevada, Accruent, Total, Parsable, Envizi, SAE, Pinnacle, Seebo, Lundin Energy, Lloyd’s Register, AspenTech, Canadian National Railway, Delek US, Duke Energy, Wintershall Dea, London Stock Exchange, Augury, Framo, HS1, Natref, Ultimo, Camo Analytics, Visionaize, General Motors, Saudi Aramco, MaxGrip, AVEVA, American Petroleum Institute (API), Kuwait National Petroleum Company (KNPC), Copperleaf, Innovapptive, IBM, Alizent, Enablon, GE Digital, Shell, Limble CMMS, C3 AI, ExxonMobil, Helios, HUVR, SymphonyAI Industrial, ARMS Reliability, Innovyze, Siemens, State Grid Corporation of China, Hatch, North Caspian Operating Company (NCOC), Fracttal, Alfa Laval, Braskem, Autodesk, Cohesive Solutions, DIREXYON, Henkel, Vertex Ventures, Flowserve, Patterson-UTI, TenForce, SMRT Trains, BP, Tüpraş, TIBCO, Meridium, Deloitte, SPE, MOL Group, Siemens Energy, Seminole County Water Division, Clayton Dubilier & Rice (CD&R), Wood, Borealis, Tata Power, Emerson, Honeywell, Caterpillar, Inductive Automation, SABIC, Aptean, US Army, IBM Consulting, IPS Group, Beamex, Berkshire Hathaway, Cognizant, Progress Rail, Aker BP, Asset Performance Technologies (APT), OMV, OSIsoft
About the Authors
Kiran Darmasseelane
Principal Analyst
Kiran is a Principal Analyst at Verdantix, delivering data-driven insights on emerging technologies and global market trends for asset-intensive sectors such as energy, manufa…
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Malavika Tohani
Research Director
Malavika is a Research Director at Verdantix, guiding research that explores how digital technologies and services are reshaping industrial operations to become safer, more ef…
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