The Plant Asset Management Market (PAM) Growth Potentially Worth 7.87 Billion USD by 2022 Led by Automation Asset Segment

PUNE, India, Nov. 22, 2016 /PRNewswire-iReach/ -- The plant asset management (PAM) market expected to exhibit significant growth potential between 2016 and 2022. The market for services segment expected to grow at the highest rate during the forecast period. The services segment is expected to lead the global plant asset management market in terms of market share as well as CAGR during the forecast period. Increasing demand for industry-specific services is the key factor expected to drive the growth of the services segment. Complete report on "Plant Asset Management (PAM) Market" spread across 170 pages, profiling 10 companies and supported with 71 tables and 82 figures is now available athttp://www.reportsnreports.com/reports/758286-plant-asset-management-pam-market-by-offering-software-and-services-deployment-mode-cloud-online-and-offline-asset-type-production-and-automation-end-user-industry-process-and-discrete-and-geography-st-to-2022.html .

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Oil and gas expected to account for the largest share of the PAM market during the forecast period. The oil and gas industry is expected to hold the largest size of the plant asset management market during the forecast period. Safety and reliability of the oil and gas plant is crucial for the management of plant assets. Thus, the industry needs PAM solutions for ensuring the safety and operational efficiency of the oil and gas plants.

The high investment cost, need for periodic up gradation of plant asset management solutions, and complexity involved in installation are some of the key factors restraining the growth of the plant asset management market.

APAC expected to be the fastest-growing market during the forecast period. The plant asset management market in the APAC region is expected to grow at the highest rate between 2016 and 2022. The major factors driving the plant asset management market growth in the APAC region are continuous advancements and technological innovations in different industries, economic development in China, Japan, and India, growing infrastructure developments in India and other Southeast Asian countries, and increasing foreign investment in the region. Furthermore, the emergence of China as the major manufacturing hub is increasing the scope of PAM software and services in the region.

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The key players in the PAM market include ABB Ltd. (Switzerland), AB SKF (Sweden), Emerson Electric Co. (U.S.), Endress+Hauser Management AG (Switzerland), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Schneider Electric SA (France), Siemens AG (Germany), and Yokogawa Electric Corporation (Japan). Make an Inquiry on "Plant Asset Management (PAM) Market by Offering (Software and Services), Deployment Mode (Cloud (online) and offline), Asset Type (Production and Automation), End-User Industry (Process and Discrete), and Geography - Global Forecast to 2022" research report at http://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=758286 .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (43%), Tier 2 (32%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (53%), Director Level (26%) and others (21%) from various key organizations operating in the global plant asset management (PAM) market. The primary interviews were conducted worldwide covering regions such as Americas (45%), Asia-Pacific (20%), Europe (27%), and RoW (8%).

Research Coverage: The research report on the global PAM market covers different segments, namely, offering, deployment mode, asset type, end-user industry, and geography. The market has been segmented on the basis of offering into software and services. On the basis of deployment mode, the PAM market has been classified into cloud (online) deployment and offline deployment. Asset types covered are production and automation assets. The report covers two types of industries, namely, process industry and discrete industry. Further, process industries have been segmented into chemical, oil and gas, energy and power, food and beverages, metals and mining, pharmaceutical and biotech, pulp and paper, and water and wastewater. Discrete industries include automotive, aerospace and defense, semiconductor and electronics, and medical device. The report covers four major geographical regions, namely, Americas, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).

On a related note, another research titled Manufacturing Execution System Market Global Forecast to 2022says, the manufacturing execution system (MES) market is expected to grow at a CAGR of 13.6% between 2016 and 2022 to reach USD 18.22 billion by 2022. Market for services expected to grow at the highest rate during forecast period. On-premises market expected to hold the largest size of the manufacturing execution system market. The automotive industry expected to account for the largest market share of the discrete industry of global manufacturing execution system market in 2016. The market for manufacturing execution system in the APAC region is expected to grow at the highest rate between 2016 and 2022. Companies such as ABB Ltd. (Switzerland), Andea Solutions (Poland), Dassault Systems SA (France), Emerson Electric Co. (U.S.), General Electric Company (U.S.), Honeywell International Inc. (U.S.), Rockwell Automation, Inc. (U.S.), SAP AG (Germany), Schneider Electric SE (France), Siemens AG (Germany) and Werum IT Solutions GmbH (Germany) have been profiled in this 187 pages research report available at http://www.reportsnreports.com/reports/149832-manufacturing-execution-system-mes-market-global-forecast-and-analysis-2011-2016.html .

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