With the increase in usage of wireless communications technology in the industrial and commercial applications, the demand of connected devices is expected to rise in the coming years. Thus, the impact of “Internet of Things” “Internet of Things” (IoT) is growing rapidly. Remote Asset Management (RAM) is one of the many use cases of the IoT revolution. The world of gateways, sensors and cloud based applications is changing the control at the disposal and entire landscape of management of an organization. Numerous end use industry such as healthcare, manufacturing and automation among others have already benefitted tremendously from video surveillance solution which is controlled by remote asset management (RAM). Additionally, various banking sector has already adopted the advanced remote asset management for surveillances of ATMs. Therefore, The Remote Asset Management market is projected to witness a steady growth during the projection period from 2017 to 2025. Advanced remote asset management has different parameters and additional features that have added extra benefit for various retail monitoring management. This in turn is fuelling the demand of Remote Asset Management market during the projection period.
Global Remote Asset Management market has been bifurcated on the basis of solution, end use industry and geography. On the basis of solution type, global Remote Asset Management market has been segregated into predictive maintenance, Real-time locating systems (RTLS), analytics, performance management and asset condition monitoring among others. In addition, with the help of remote security and surveillance solutions, all assets is able to access remotely through tablet and smart mobile phones integrated with security systems such as CCTV cameras and alarm which allows the responsible employees for actionable reply.This is expected to increase the demand of Remote Asset Management (RAM) market in upcoming years. Furthermore, global Remote Asset Management market is classified on the basis of end use industry into manufacturing, oil and gas, automotive, healthcare, power generation and distribution and Banking, Financial services and Insurance (BFSI) among others. Additionally, the manufacturing segment is anticipated to have the major market share during the forecast period 2017- 2025. The analytical manufacturing solutions are able to access multiple data sources in real time. This in turn is expected to reduce quality issues and asset failure which in turn reduces the maintenance costs and unplanned downtime among others. Moreover, increasing adoption of “Internet of Things” (IoT) for effective asset management operation and optimizing asset lifecycle offers a huge return on investment for asset intensive industries is growing expressively which is driving the growth of the Remote Asset Management (RAM) market during the estimate period.These remote asset management applications provide the infrastructure, helpdesk capabilities and application monitoring aimed at cost-effective IT management and underpin an efficient operation from the cloud. In near future, demand of cloud-based application with real-time analytics offering cost benefits is predicted to increase the adoption of remote asset management. This factor acts as an opportunity for the global Remote Asset Management (RAM) market in coming years. On the flip side, traditional organizational culture is a major obstacle for the adoption of remote asset management. This in turn is limiting the growth of the global Remote Asset Management market.
Geographically, global Remote Asset Management market has been segmented into North America, Europe, Asia Pacific (APAC), Middle- East and Africa and Latin America. In 2016, North America held the largest share of the Remote Asset Management market owing to the high technological internet infrastructure development, the presence of strong domestic solution providers and widespread adoption of new technology among others in this region. Asia Pacific is estimated to be the second largest market for Remote Asset Management market currently, followed by Europe. The need for better business process and operational efficiency at a low operating cost is anticipated to drive constant development in the global Remote Asset Management market.
The majorplayers operating in the global Remote Asset Management market includes AT&T Inc. (The U.S.), Schneider Electric SE (France), Cisco Systems, Inc. (The U.S.), IBM Corporation (The U.S.), Hitachi, Ltd. (Japan), Infosys Limited (India), Verizon Communications, Inc. (The U.S.), PTC Inc. (The U.S.), Rockwell Automation, Inc. (The U.S.) and SAP SE (Germany) among others.
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