Research and Markets (http://www.researchandmarkets.com/research/8x95cx/global_plant) has announced the addition of the "Global Plant Asset Management System Market 2014-2018" report to their offering.
The Global Plant Asset Management System market to grow at a CAGR of 10.01% over the period 2014-2018.
Plant asset management systems are used by organizations to manage the entire life cycle of their plant assets and increase the process control, obtaining better efficiency and productivity. Organizations use the information generated from these systems for various critical decision making purposes. A plant asset management system helps in recognizing errors in plants, leading to improved productivity. The major end-users of plant asset management system include the Power, Oil and Gas, Refining, Petrochemical, Pulp and Paper, Mining and Metal, and Chemical industries.
One of the major trends in this market is the development of application-specific solutions. The market vendors have started providing application-specific PAM systems in accordance with industry-specific norms because every industry has different asset utilization needs.
According to the report, one of the main drivers in the market is the need to optimize operational costs. It is important to monitor and control the overhead costs stemming from various physical assets. This has led to the increased adoption of PAM software in order to reduce overhead costs.
Further, the report states that one of the major challenges confronting this market is the complexities in the installation process. The implementation of PAM systems is a complex process since it involves various levels of plant integration and many process instruments. Therefore, the integration and implementation of PAM becomes a complex process for vendors.
Key Vendors
- ABB
- Emersion Electric
- Honeywell
- Rockwell Automation
- Siemens
Other Prominent Vendors
- Endress+Hauser
- GE Energy
- Invensys
- Yokogawa
Key Topics Covered:
- Executive Summary
- List of Abbreviations
- Scope of the Report
- Market Research Methodology
- Introduction
- Market Overview
- Market Landscape
- Market Segmentation by End-users
- Geographical Segmentation
- Buying Criteria
- Market Growth Drivers
- Drivers and their Impact
- Market Challenges
- Impact of Drivers and Challenges
- Market Trends
- Trends and their Impact
- Vendor Landscape
- Key Vendor Analysis
For more information visit http://www.researchandmarkets.com/research/8x95cx/global_plant
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Sector: Engineering
