Remote Asset Management Market [2022-2031] Status and Prospect | Global Industry Size, Growth Rate, Share, Players Profiles, Upstream and Downstream Analysis, Cost Analysis, Revenue, Price and Gross Margin Research

Kenneth Research, in its repository of market research reports, have recently added a report on Remote Asset Management Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Remote Asset Management Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Remote Asset Management Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.

Global Remote Asset Management Market is valued approximately USD 14.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 14.6 % over the forecast period 2020-2027. Remote asset management is an analytical system that monitors and maintain the assets of remote areas or offices. Remote asset management provides real-time two-way communication between the organization’s asset and central monitoring application. This enables central monitoring application to have better control and management of the assets. Remote asset management are cost-effective, efficient and convenient for surveillance operations. The global Remote Asset Management is being highly demanded due to the coronavirus pandemic as employees are asked to work from home and organizations are temporary shutdown.

So various companies are adapting Remote Asset Management for operating their business efficiently. The surge in the adoption of IoT-enabled remote asset management solutions to manage assets efficiency, decreasing cost of IoT-based sensors optimize asset life cycle through remote asset management solutions and predictive maintenance to boost the adoption of remote asset management, thereby reducing operational cost of remote assets encourages the growth of the global Remote Asset Management Market. Furthermore, the increasing advancements and other strategic alliance by market key players will create a lucrative demand for this market.  For instance: on 06th November 2019, U.S. based IBM launched Maximo Asset Monitor, a new AI-powered monitoring solution. Maximo Asset Monitor helps organization to maintain,  operates and improve the performance of their high-value physical assets remotely. However, concerns of organizations related to data security and confidentiality is the major factor restraining the growth of global Remote Asset Management market during the forecast period.

The regional analysis of global Remote Asset Management Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing adoption of advanced technologies and infrastructure development in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.

Major market player included in this report are:
Siemens AG
AT&T Inc.
Cisco Systems, Inc.
Hitachi, Ltd.
Schneider Electric
PTC Inc.
Infosys Limited
Rockwell Automation, Inc.
International Business Machines (IBM) Corporation
SAP SE

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

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By Component:
Solutions
Services

Deployment Mode:
On-Premises
Cloud

By Organization Size:
Large Enterprises
Small and Medium-Sized Enterprises

By Asset Type:
Fixed Asset
Mobile Asset

By Vertical:
Building Automation
Manufacturing
Healthcare
Retail
Transportation and Logistics
Energy Utilities
Metal & Mining
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

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Target Audience of the Global Remote Asset Management Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Remote Asset Management Market, by Region, 2018-2027 (USD Billion)
1.2.2. Remote Asset Management Market, by Component, 2018-2027 (USD Billion)
1.2.3. Remote Asset Management Market, by Deployment Mode, 2018-2027 (USD Billion)
1.2.4. Remote Asset Management Market, by Organization Size, 2018-2027 (USD Billion)
1.2.5. Remote Asset Management Market, by Asset Type, 2018-2027 (USD Billion)
1.2.6. Remote Asset Management Market, by Vertical, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Remote Asset Management Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Remote Asset Management Market Dynamics
3.1. Remote Asset Management Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Remote Asset Management Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Remote Asset Management Market, by Component
5.1. Market Snapshot
5.2. Global Remote Asset Management Market by Component, Performance – Potential Analysis
5.3. Global Remote Asset Management Market Estimates & Forecasts by Component 2017-2027 (USD Billion)
5.4. Remote Asset Management Market, Sub Segment Analysis
5.4.1. Solutions
5.4.2. Services
Chapter 6. Global Remote Asset Management Market, by Deployment Mode
6.1. Market Snapshot

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