Market Insight: Industrial Asset Management Digital Services – Spending Plans And Use Cases By Industry
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Executive Summary
This report provides chief marketing officers at consulting firms with data on industrial firms’ intentions for spend in 2023 on digital consulting services for industrial asset management digitization projects. In the 2022 Verdantix operational excellence global corporate survey, 84% of industrial firms noted plans to increase their spend on third-party consultants for asset management digitization projects (see Verdantix Global Corporate Survey 2022: Operational Excellence Budgets, Priorities & Tech Preferences). The data reveal differences in the distribution of planned spend increases, as well as in the use cases for which third-party consultants are utilized. Reliability-centred maintenance (RCM), improvement planning and implementation are top use cases for oil and gas firms, whereas infrastructure and transport firms are targeting consultants for plant shutdown and turnaround. In this report, we break the data down by industry and provide analysis for consulting firms, to enable them to adjust their strategies to capture as much of this growing market as possible.
Use Cases And Anticipated Spend On Third-Party Consultants Vary By Industry
Spend On Consultants For Asset Management Projects Will Increase In 2023, Albeit Conservatively
Asset Maintenance And Data Management Are Leading Areas For Consultant Use
Asset Management Service Providers Are Investing In Strengthening Their Capabilities For Industrial Emissions Data Management
Figure 1. Operational Excellence Consulting Projects: Expected Use Of Service Providers In 2023
Figure 2. Expected Change In Spend On Consultants In 2023: Industry Breakdown
Figure 3. Operational Excellence Consulting Projects: Expected Use Of Service Providers In 2023
Figure 4. Expected Use Of Service Providers In 2023: Infrastructure And Transport
Figure 5. Expected Use Of Service Providers In 2023: Mining And Utilities
Figure 6. Expected Use Of Service Providers In 2023: Manufacturing
About the Authors
Henry Kirkman
Industry Analyst
Henry is an Industry Analyst at Verdantix. His current research agenda focuses on quality management, field service management and industrial applications of AI, including Gen...
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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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