Smart Innovators: Asset Integrity And Risk Management Software

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Executive Summary

This report presents a detailed analysis of the asset integrity and risk management market, highlighting 37 providers with comprehensive capabilities tailored to various industries and use cases. It provides buyers with a high-level assessment of these vendors and their offerings, while helping executives understand how their capabilities compare across seven key assessment criteria: asset information management; asset criticality and risk analysis; inspections management; integrity analytics; integrity operating windows; reporting and compliance; and process safety and risk management. The report also explores the key benefits, drivers and innovations shaping the asset integrity and risk management software market.

Table of contents

Summary for decision-makers
Asset integrity and risk management software is a tenet of asset lifecycle management

Safeguarding asset integrity is critical to long-term operational strategies
Market appetite for asset integrity and risk management software is far from fading
Introducing the asset integrity and risk management software market
Asset integrity and risk management software has diverse origins
Asset integrity and risk management solutions have seven core capabilities
Asset integrity and risk management software improves asset performance, operational safety and regulatory compliance
Dynamic analyses and AI-driven insights are fuelling the next wave of innovation in asset integrity and risk management solutions
Buyers must select vendor solutions offering flexibility across asset types and inspection strategies

Table of figures

Figure 1. Evolution of asset integrity and risk management software
Figure 2. Change in spend on industrial transformation initiatives in the next 12 months
Figure 3. Asset integrity and risk management workflow
Figure 4. Asset integrity and risk management software providers: capabilities assessment

About the authors

Sayanh Alam

Analyst
Sayanh is an Analyst in the Verdantix Industrial Transformation practice. Prior to joining Verdantix, she completed an MSc in Chemistry with Molecular Physics at Imperial College London. Here, she undertook research in renewable energy, focusing on improving the thermal stability of organic solar cells under manufacturing and operating conditions.

Malavika Tohani

Research Director, Industrial Transformation
Malavika leads the Verdantix Industrial Transformation practice. The team’s current research focusses on digital technologies and services that enable industrial operations become safer, efficient and sustainable such as asset maintenance and performance, industrial AI and data management, connected workforce and field service management, process safety and industrial engineering, design and construction. Malavika has over 20 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.

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