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Asset Performance Management Market worth $3.19 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Oct. 1, 2024 /PRNewswire/ — The Asset Performance Management Market is expected to grow from USD 1.91 billion in 2024 to USD 3.19 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 10.8% during the forecast period, according to a new report by MarketsandMarkets™.  A need for optimizing cost efficiency will boost the growth of the Asset Performance Management Market during the forecast period.

Browse in-depth TOC on “Asset Performance Management Market”

280 – Tables
55 – Figures
300 – Pages

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Scope of the Report

Report Metrics

Details

Market Size Available For Years

2019–2029

Base Year Considered

2023

Forecast Period

2024–2029

Forecast Units

Value (USD Billion)

Segments Covered

Offering, Asset Type, Deployment Type, Organization Size, Vertical

Regions Covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies Covered

ABB (Switzerland), GE Vernova (US), AVEVA (UK), IBM (US), SAP (Germany), Emerson (US), Bentley Systems (US), Rockwell Automation (US),  DNV (US), Fluke (US), Siemens Energy (Germany), Oracle (US), Yokogawa (Japan), SAS (US), Arms Reliablity (Australia), Synopsys (US), Honeywell (US), Prometheus Group (US), Hexagon (Sweden), Nexus Global (US), Detechtion Technologies (US), IPS Intelligent Process Solutions (Germany), Plasma (US), Tenna (US), Uptake (US), UpKeep (US), Shoreline AI(US), MentorAPM (US), Fracttal (Spain), MicroAI (US), VROC (Australia), Opetational Sustainability (US), Qualer (US), and MaintainX (US).

By deployment type, the cloud segment will grow at the highest CAGR during the forecast period.

The penetration of cloud deployment in the asset performance management (APM) market is anticipated to witness the fastest growth in the rate of compound annual growth (CAGR) during the projected years because of the improvements in scalability, cost, and reach of these systems. Businesses have adopted such solutions mainly because of advanced analytics, real-time monitoring, and collaboration, which can be integrated to improve decision-making and productivity. The shift towards digital transformation and the growing adoption of Internet of Things (IoT) technologies further drive the demand for cloud-based APM solutions. As organizations seek to enhance asset utilization and reduce downtime, cloud deployment offers a flexible and innovative approach to managing assets effectively.

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The solutions segment will hold the largest market share in 2024 by offering.

In the asset performance management (APM) market, the solutions segment is projected to hold the largest market share during the forecast period. This is because many organizations seek ways to enhance productivity, minimize idleness, and use their assets best. Advanced analytics, reliability-centered maintenance, the scent of the Internet of Things, and total device monitoring provide valuable intelligence about assets’ health and performance. Therefore, organizations are purchasing more APM approaches to facilitate better planning, encourage predictive maintenance, and reduce operational expenses. This highlights the essential role of technology in transforming asset management strategies across various industries.

Based on region, the Asia Pacific region will grow at the highest CAGR during the forecast period.

The Asia Pacific region is set to grow at the highest compound annual growth rate (CAGR) in the asset performance management (APM) market during the forecast period, driven by its status as a significant digital hub and rapid adoption of cloud technology. With public cloud spending in major economies such as China, Japan, Australia, Singapore, India, and Indonesia increasing, businesses are recognizing digital transformation’s vital role in enhancing operational efficiency—the urgency of cloud access, which the COVID-19 pandemic has intensified. Providing significant opportunities for APM suppliers, industries such as manufacturing, energy, transportation, and chemicals are embracing advanced technologies such as AI, IIoT, and analytics. This partially addresses the need for APM solutions. A national framework has also been developed to realize Industry 4.0 to increase productivity and economic resilience post-pandemic. These policies are necessary for the proper infrastructural strategy that promotes the adoption of connecting technologies such as machine learning and digital twins. The APM market is expected to expand significantly as the region adopts cloud-based strategies and intelligent manufacturing practices. This is driven by a focus on asset optimization and sector leveraging.

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Top Key Companies in Asset Performance Management Market:

Some of the key players operating in the Asset Performance Management Market are –ABB (Switzerland), GE Vernova (US), AVEVA (UK), IBM (US),  SAP (Germany), Rockwell Automation (US), Emerson (US), Bentley Systems (US), DNV (US), Fluke (US), Siemens Energy (Germany), Oracle (US), Yokogawa (Japan), SAS (US), Arms Reliability (Australia), Synopsys (US), Honeywell (US), Prometheus Group (US), Hexagon (Sweden), Nexus Global (US), Detection Technologies (US), IPS Intelligent Process Solutions (Germany), Plasma (US), Tenna (US), Uptake (US), UpKeep (US), ShorelineAi (US), MentorAPM (US), Fractal (Spain), MicroAI (US), VROC (Australia), Operational Sustainability (US), Qualer (US), and MaintainX (US).

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Schoolhouse Expands College Partnerships to Advance Equity in College Admissions

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Free tutoring platform, founded by Sal Khan of Khan Academy, gives all students access to application-boosting academic and volunteer opportunities

PALO ALTO, Calif., Oct. 1, 2024 /PRNewswire-PRWeb/ — Schoolhouse, a non-profit organization offering free peer-to-peer tutoring for high school students, has more than doubled its partnerships with colleges and universities across the United States. Up from 18 previous partnerships, 38 colleges and universities now recognize the Schoolhouse Portfolio, a comprehensive record of a student’s learning journey and tutoring contributions, as part of their admissions process.

“Our partner colleges and universities are recognizing the value of Schoolhouse’s free tutoring platform, both as a way to provide free access to high-quality learning and as a way to empower students to become volunteer tutors themselves.” – Sal Khan, Schoolhouse CEO & Founder

Schoolhouse’s free, peer-to-peer tutoring platform allows high school students to attend live, virtual tutoring sessions for academic subjects, the SAT®, and the college admissions process.

This gives all students, regardless of their socioeconomic background, the ability to get personalized help from certified volunteer tutors. Students are also able to prove to colleges they’ve mastered specific subjects, regardless of the course availability at their local school.

This expanded network of partners reflects the wide diversity of American higher education, representing every region of the United States and spanning private and public institutions, state flagship universities, liberal arts colleges, and HBCUs (historically Black colleges and universities).

“These partnerships showcase the incredible potential of peer-to-peer learning in making education more accessible,” says Sal Khan. “Our partner colleges and universities are recognizing the value of Schoolhouse’s free tutoring platform, both as a way to provide free access to high-quality learning and as a way to empower students to become volunteer tutors themselves. Ultimately, this collaborative approach helps create a more equitable admissions landscape for all students.”

For many partner universities, the Schoolhouse Portfolio serves as a standardized way to assess subject mastery, particularly beneficial for students with limited access to specific courses in their local schools. This approach helps admissions officers gain a more holistic view of an applicant’s academic capabilities, regardless of their educational background.

“Rural students often face barriers when exploring their college options including limited access to college prep activities. Our goal is to work directly with students, families and others in the community to highlight resources like Schoolhouse as a way to improve accessibility and college preparedness,” said University of South Carolina’s Executive Director of Undergraduate Admissions, Dr. Elizabeth Orehovec.

Additionally, the Portfolio showcases students’ volunteer hours and credentials as Schoolhouse tutors, highlighting their commitment to community service and peer support. This aspect of the Portfolio allows universities to identify candidates who align with their institutional values and culture.

The Schoolhouse model not only aids students in their college applications but also fosters a global community of learners and educators. As the platform continues to grow, it promises to play an increasingly vital role in shaping the future of education and college admissions.

Colleges interested in partnering with Schoolhouse are encouraged to email partner@schoolhouse.world for more information. Learn more about our existing partnerships here.

New College and University Partners:

Amherst CollegeAuburn UniversityBelmont UniversityDartmouth CollegeDuke UniversityFranklin & Marshall CollegeSouthern Methodist UniversitySouthern New Hampshire UniversitySpelman CollegeStanford UniversitySwarthmore CollegeThe University of Texas at AustinUniversity of AlabamaUniversity of ArizonaUniversity of ArkansasUniversity of California, BerkeleyUniversity of DenverUniversity of Notre DameUniversity of South CarolinaUniversity of Vermont

About Schoolhouse:

Schoolhouse.world is a non-profit organization founded by Sal Khan of Khan Academy on a mission to connect the world through free, peer-to-peer tutoring. To date, Schoolhouse has supported over 100,000 learners across the globe.

Media Contact

Drew Bent – COO / Co-Founder, Schoolhouse, 1 650-000-0000, drew@schoolhouse.world, Schoolhouse.world

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Food Marketing Agency Ingredient Hires Minnesota Star Tribune Digital Innovation Leader Tom Horgen As Senior Director of Content Strategy

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After Nearly Two Decades at the Publication, Horgen Joins the Agency to Drive Innovative Content Strategies for Top Food Brands

MINNEAPOLIS, Oct. 1, 2024 /PRNewswire-PRWeb/ — Today, Ingredient, a Minneapolis-based marketing agency that connects food and food-adjacent brands to consumers, welcomes Tom Horgen as Senior Director of Content Strategy. He joins the company from The Minnesota Star Tribune, where he spent 19 years in various roles, most recently leading the company’s audience department. In his new role at Ingredient, Horgen will oversee the content strategy group that works with clients including Betty Crocker, Pillsbury, Box Tops for Education, Gelson’s Markets, Lunds & Byerlys and more.

“Food and storytelling are lifelong passions of mine,” said Tom Horgen, senior director of content strategy at Ingredient. “I’m beyond excited to join Ingredient and deliver the type of brand experiences that people won’t forget.”

“Tom’s extensive experience in audience development and innovative content strategies will be vital in helping us deliver smart, thoughtful and creative solutions to our clients every day,” said Ken Goldman, Ingredient partner and vice president of strategy.

At The Minnesota Star Tribune, Horgen began his career as a reporter and columnist, focusing on the evolution of Minnesota’s bar and restaurant scene before expanding into broader culture coverage. He led teams dedicated to food, music, art, theater and fashion, while also guiding the newsroom to adopt a multi-platform approach to grow digital audiences. Additionally, he managed content strategies, spearheaded a major initiative to revamp the newsletter portfolio, and contributed to significant digital subscription growth, with his team driving hundreds of thousands of monthly referrals and millions of impressions across key channels.

“Food and storytelling are lifelong passions of mine,” said Tom Horgen, senior director of content strategy at Ingredient. “I’m beyond excited to join Ingredient and deliver the type of brand experiences that people won’t forget.”

Ingredient is made up of nearly 60 strategists, technical experts and developers, designers, copywriters, photographers, videographers and culinary professionals. To learn more, visit Ingredient.mn and follow @ingredientmpls on social.

About Ingredient

Ingredient is a food marketing agency inspiring connections between brands and consumers. The Minneapolis-based team is built of both marketing strategists and culinary/creative professionals to help clients create meaningful connections and drive growth. The team works collaboratively to tell unique brand stories that build lasting relationships with consumers. Since 1994, Ingredient has led marketing and content strategies for iconic food brands, including both CPG companies and grocery retailers. With a deep commitment to understanding clients, their target audiences and channels, plus an in-house production studio with chefs on staff, Ingredient is the agency partner for delivering scroll-stopping work. To learn more about Ingredient’s services and clients, visit Ingredient.mn.

Media Contact

Eliza Kjar, Palmer Public Inc., 1 7125517774, eliza@palmerpublic.com, https://palmerpublic.com/

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Dan Post Finds a Perfect Fit in Centric PLM for Digital Transformation

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Western boot company partners with Centric Software to streamline collaboration and enhance transparency

CAMPBELL, Calif., Oct. 1, 2024 /PRNewswire-PRWeb/ — Centric Software® is pleased to announce that iconic western boot brand Dan Post Boot Company has selected Centric PLMTM to optimize product data management, efficiency and transparency. Centric Software provides the most innovative enterprise solutions to plan, design, develop, source, buy, make, price, allocate, sell and replenish products such as fashion, outdoor, luxury, multi-category retail, grocery, food & beverage, cosmetics & personal care and consumer electronics to achieve strategic and operational digital transformation goals.

Founded in the 1960s, Dan Post boots are synonymous with superior fit and fashion-forward design. Their handcrafted method starts with the finest exotic skins and premium leathers handled by the finest designers in the world. The company produces approximately 150 new styles each year through their two brands: Dan Post and Laredo.

With an increasing amount of sampling, sourcing, materials and design data to juggle, they turned to an ‘all-in-one’ ERP and PLM solution in 2016. However, they ran into limitations and began to re-evaluate their PLM decision. Having had a positive experience with Centric Software over a decade earlier, they chose to go back to Centric PLM.

“Our old PLM solution was not web-based. We couldn’t access it from anywhere, it was slow and users would get bogged down,” explains Stephanie Greenfield, Director of Product Development at Dan Post. “User adoption was low and we went back to a more antiquated way of doing things using shared documents.”

Dan Post considered several options, but selected Centric PLM based on past experience, user-friendliness and ability to scale with the business.

“We needed to get back to a PLM that we knew would work, and that designers would like to use,” Greenfield says. “Because PLM is a primary focus for Centric, we can rely on future innovation and updates to the solution.”

Dan Post has just begun implementing Centric PLM, and the team is anticipating changes, says Greenfield.

“One of the great things about Centric is that we can easily update it when we’re on the go. Because we will have all the information in one central place we will be able to generate line sheets very quickly. Our production and sourcing teams will be able to track material usage and hold factories accountable for the time period it takes to get samples made. There are many exciting possibilities for leveraging data to make future decisions, once we get it all into one system.”

“Working with the Centric team is great,” she concludes. “The follow-through has been awesome and they are very, very thorough.”

“We are delighted to welcome Dan Post as a returning customer,” says Chris Groves, CEO of Centric Software. “Dan Post is known for attention to detail and commitment to quality, and we are equally dedicated to making sure that their PLM implementation is a perfect fit. We look forward to working with Dan Post as they streamline and scale their business.”

Learn more about https://www..centricsoftware.com/l/35842/2024-10-01/wd9dp3
See Centric AI-Powered Solutions in action at NRF 2025, Booth #6257
https://www..centricsoftware.com/l/35842/2024-10-01/wd9dp6

Dan Post Boot Company (danpostboots.com)

Since the 1960s, Dan Post has established itself as an iconic western brand known for challenging the status quo. Our name is synonymous with handcrafted cushion comfort from the first step, and it’s a legacy taken seriously. Offering superior quality and created with the most innovative, artisanal methodologies, we use only finest in exotic skins and premium leathers. Every part of our 160-step process is intentional, and stands the test of time, and you’ll feel the difference.

Media Contact

Aurore Evee, Centric Software, +16479155377, aurore.evee@centricsoftware.com, www.centricsoftware.com

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