The global market for APM is projected to have considerable CAGR during the forecast period. The market growth is attributed to various pivotal factors such as the growing demand for cloud-based APM services associated with growing demand from small-medium sized enterprises (SMEs) across the globe. Owing to this, various cloud-based APM solution providers are introducing new products to fulfill the growing demand from different verticals. For instance, in October 2019, IBM announced the launch of IBM Maximo Enterprise Asset Management SaaS with an aim to provide the cloud-based asset management experience to global clients with the ability to generate role-based work centers.
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Further, in November 2018, Nuvolo collaborated with GE Healthcare to offer a cloud-based clinical EAM platform to Healthcare Technology Management (HTM) professionals. In addition, the increasing demand for innovative technologies such as Artificial Intelligence (AI) and machine learning for predicting and preventing system errors and reducing the overall maintenance cost is also driving the demand for EAM products in energy & utility, manufacturing, and IT & telecommunication industry.
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Asset Performance Management (APM) Market Segmentation
By deployment
Cloud-based
On-Premises
By Industry
BFSI
Energy &Utilities
Healthcare
Government
IT & Telecom
Others(Food & Beverages)
Regional Analysis
North America
United States
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Rest of the World
Company Profiles
ABB Ltd.
Aspen Technology, Inc.
Aptean Group
AVEVA Group plc
Accruent
Bentley Systems, Inc.
DNV GL AS
eMaint Enterprises, LLC
General Electric Co.
IBM Corp.
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