Market Share of Plant Asset Management Industry
There is intense competition with several providers of Asset Management Services. The major players include ABB Group, Emerson Electric Co., Siemens AG, Rockwell Automation, and Honeywell International. Because manufacturing sectors invest extensively in artificial intelligence (AI), there is a high demand for Asset Management Services. To maintain consistency in the business and expand services further, asset management providers are making acquisitions and investments in new companies and technologies.
November 2022 - Vizient, the healthcare performance improvement company, collaborated with Handle Global, the healthcare supply chain analytics, to help Vizient member healthcare organizations manage their capital expenses and equipment through the capital asset management system. This system will offer healthcare organizations data, analytics, and insights for improved equipment lifecycle planning, procurement, and asset utilization that will ultimately reduce costs.
February 2023 - Arcadis design and consultancy organization for natural and built assets collaborated with Canada-based digital technology start-up Niricson. Using robotics, computer vision, and acoustic technology with artificial intelligence (AI), Arcadis can make predictive maintenance of bridge infrastructure safer, faster, and more cost-effective.
Plant Asset Management Market Leaders
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ABB Group
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Emerson Electric Co.
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Honeywell International Inc.
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Rockwell Automation, Inc.
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Siemens AG
*Disclaimer: Major Players sorted in no particular order
