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The global Prescriptive Asset Management Solutions market was valued at US$ million in 2022 and is projected to reach US$ million by 2029, at a CAGR of % during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes
Analytics is the computational analysis of a set of data.The field of analytics has evolved over a period of time.It used to be descriptive in nature and used historical data to analyze situations and actions.Later, descriptive analytics was further refined to diagnostic analytics, which provided reasoning for actions.With further advancements in computational technology, the approach of predictive and prescriptive analytics came into existence.Predictive analytics helps decision makers to mathematically predict the future.On the other hand, prescriptive analytics helps decision makers to take action regarding future events.Prescriptive analytics and maintenance are computing tools that use modern technologies such as artificial intelligence, machine learning, as well as pattern recognition to create efficient decision making for asset management.They are used to monitor equipment performance at the premises and also predict performance expectations.Anyone responsible for asset management can reap the benefits of prescriptive analytics.Original equipment manufacturers (OEM), maintenance organizations, or any third party service providers can use prescriptive analytics to efficiently manage assets.Prescriptive analytics draws data from business intelligence, enterprise asset management (EAM), enterprise resource planning (ERP), and other enterprise information systems.Using these data, the solution frames what if conditions of all the possible results.Each option is critically evaluated in order to arrive at the optimal course of action.Prescriptive analytics saves time and significantly reduces human error since the outcome is created by the combination of predictive modelling, machine learning, and statistical algorithms.Prescriptive maintenance continuously monitors the asset and immediately identifies any asset failure.It is not limited to predicting failure like predictive analytics.It has a larger canvas.Prescriptive analytics helps in strategic decision making for the maintenance of the asset throughout its life cycle.Therefore, the prescriptive approach to asset management has several benefits.It helps in providing real-time data analysis and improves asset performance by significantly reducing downtime.
This report aims to provide a comprehensive presentation of the global market for Prescriptive Asset Management Solutions, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Prescriptive Asset Management Solutions. This report contains market size and forecasts of Prescriptive Asset Management Solutions in global, including the following market information:
Global Prescriptive Asset Management Solutions Market Revenue, 2018-2023, 2024-2032, ($ millions)
Global top five companies in 2022 (%)
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The U.S. Market is Estimated at $ Million in 2022, While China is to reach $ Million.
Software Segment to Reach $ Million by 2029, with a % CAGR in next six years.
The global key manufacturers of Prescriptive Asset Management Solutions include AspenTech, ABB, SSG Insight, Arcadis Gen Sheffield, PlantVision, Altran Americas, IBM Corporation, Rockwell Automation and SAP SE, etc. in 2022, the global top five players have a share approximately % in terms of revenue.
We surveyed the Prescriptive Asset Management Solutions companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Prescriptive Asset Management Solutions Market, by Type, 2018-2023, 2024-2032 ($ millions)
Global Prescriptive Asset Management Solutions Market Segment Percentages, by Type, 2022 (%)
Global Prescriptive Asset Management Solutions Market, by Application, 2018-2023, 2024-2032 ($ millions)
Global Prescriptive Asset Management Solutions Market Segment Percentages, by Application, 2022 (%)
Global Prescriptive Asset Management Solutions Market, By Region and Country, 2018-2023, 2024-2032 ($ Millions)
Global Prescriptive Asset Management Solutions Market Segment Percentages, By Region and Country, 2022 (%)
Competitor Analysis
The report also provides analysis of leading market participants including:
Further, the report presents profiles of competitors in the market, key players include:
Outline of Major Chapters:
Chapter 1: Introduces the definition of Prescriptive Asset Management Solutions, market overview.
Chapter 2: Global Prescriptive Asset Management Solutions market size in revenue.
Chapter 3: Detailed analysis of Prescriptive Asset Management Solutions company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Prescriptive Asset Management Solutions in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.