Market Share of APM Industry
The asset performance management market is growing in competition due to several established and new players. The vendors operating in the market focus on establishing long-term partnerships with their clients to drive recurring revenue. Furthermore, the established players are also adopting inorganic growth strategies to further expand their portfolio and technical proficiency and reduce market competition. Some of the major players operating in the market include ABB Ltd, IBM Corporation, SAP SE, and GE Digital.
In September 2022, Hitachi Energy announced that Energinet, Denmark's national transmission system operator (TSO), selected Hitachi's Lumada Asset Performance Management (APM) solution. This latest collaboration between Hitachi Energy and Energinet has been established to help the country's transmission system operators better assess grid reinvestments needed to achieve the 2030 carbon neutrality goals.
In August 2022, GE Digital announced a software solution combining Performance Intelligence with APM Reliability. Designed for strategic and data-driven decision-making, the software forms a performance advisory solution by integrating real-time thermal performance data and analysis software with analytics for strategic and data-driven decision-making.
Asset Performance Management (APM) Market Leaders
ABB Ltd.
AVEVA Group plc
IBM Corporation
SAP SE
GE Digital
*Disclaimer: Major Players sorted in no particular order
