Verdantix Benchmark Reveals Four Leaders In The Asset Performance Management Software Market
London, June 25, 2020. Four vendors – AspenTech, AVEVA, Bentley Systems and GE Digital – lead the market for asset performance management (APM) software. Independent research firm Verdantix compared 11 APM vendors on 116 criteria and assessed their level of success across 18 asset classes. In addition to the four leaders, the study includes ABB Power Grids, BISTel, DNV GL, IBM, Oracle, SAP and Uptake. The analysis is informed by interviews with 284 managers in engineering, maintenance and operations roles.
“In recent years APM software has risen up the priority list as industrial firms look for a step-change in asset reliability and safe operations” stated Malavika Tohani, Research Director. “Spending on APM software and related services will reach $2.5 billion in 2020 and will grow next year despite the impact of COVID-19.”
The Verdantix report, “Green Quadrant Asset Performance Management Solutions 2020”, provides buyers in reliability engineering and maintenance roles with detailed analysis to speed up vendor selection decisions. Key findings:
AspenTech, AVEVA, Bentley Systems and GE Digital offer the most comprehensive portfolios of APM capabilities across software, asset failure content/models and multi-industry subject matter expertise.
Oil and gas firms have a broad range of suppliers to choose from with AspenTech, AVEVA, DNV GL and GE Digital offering strong APM solutions.
Power utilities and grid operators can tap the APM offerings from ABB Power Grids, AVEVA, Bentley Systems, DNV GL, GE Digital, IBM and Oracle.
Specialist capabilities like digital twin 3D visualization and asset lifecycle optimization are currently under-served by the majority of APM vendors.
Cloud platforms for APM offer superior functionality and usability but cyber-security concerns mean customers cling to on premise deployment.
“Operations leaders at industrial firms should take a more aggressive approach to investing in asset performance management software” stated Verdantix CEO, David Metcalfe. “APM software was launched more than 20 years ago and is already in use at more than 1,000 firms. The benefits in terms of better asset reliability and lower maintenance costs are evident. With new entrants like IBM and SAP, now is a good time to kick off an RFP process.”