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Remote Asset Management Market is Propected to Reach USD ~27 Billion by the End of 2022

iCrowdNewswire   Jan 11, 2021  11:53 AM ET

Market Dynamics

The growing acceptance of IoT in various organizations for different businesses has contributed to an increase in the number of connected devices that can incorporate different elements of the asset lifecycle. This is the main factor that contributes to the growth of the remote asset management market. The minimization of the cost of IoT components has generated a worldwide demand for the product. The increasing need for real-time monitoring and preventive and predictive maintenance across organizations has created a demand for a remote asset management system. The implementation of remote asset management systems has dramatically enhanced the return on investment of asset-intensive enterprises, thus increasing the demand for systems. The advent of cloud-based remote asset management solutions has made implementation cost-effective, opening up new opportunities for market players.

Key Players

The key participants identified by MRFR operating in the global remote asset management market include IBM Corporation (U.S.), Cisco Systems, Inc (U.S.), AT&T Intellectual Property (U.S), Hitachi, Ltd. (Japan), Verizon Communications, Inc. (U.S.), PTC Inc. (U.S.), SAP SE (Germany), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Infosys Limited (India) and others.

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Market Segmentation

For the purpose of this study, MRFR has divided the global remote asset management market into solution and application.

By solution, the global remote asset management market has been segmented into surveillance and security, network bandwidth management, asset performance management, application management, connectivity management, professional services, managed services, real-time location tracking, asset condition monitoring, and predictive maintenance.

By application, the global remote asset management market has been segmented into automation, healthcare and wellness, smart retail, utilities and grids, production monitoring, connected logistics, fleet management, and others.

Regional Analysis

By region, the global remote asset management market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.

North America dominates the market for remote asset management systems. The growth of this regional market is powered by the rapid speed of digitization, significant developments in the field of IoT, and the growing adoption of automated real-time solutions across various organizations. In addition, the growing presence of regional solution providers offering cloud-based remote asset management solutions is expected to generate demand for remote asset management in the North American region.

Market growth in the Asia Pacific region is attributed to the increasing popularity of IoT among different companies in order to streamline and manage their asset life cycles.

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About Market Research Future:

Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.

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Keywords:    Remote Asset Management Market, Remote Asset Management Market Size, Remote Asset Management Market Trends, Remote Asset Management Market Growth, Remote Asset Management Market Growth, Remote Asset Management Market Forecast

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