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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.

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IDEMIA Public Security Selected by NIST National Cybersecurity Center of Excellence to Collaborate on its Mobile Driver’s License Project

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 IDEMIA’s leadership and expertise in the digital credential market positions it well to help accelerate the adoption of Mobile ID

RESTON, Va., Oct. 1, 2024 /PRNewswire/ — IDEMIA Public Security North America, the leading provider of convenient and trusted biometric-based solutions, has been selected by NIST National Cybersecurity Center of Excellence (NCCoE), a part of the National Institute of Standards and Technology (NIST), to take part in its Mobile Driver’s License (mDL) Project. IDEMIA is one of fifteen technology providers and industry experts selected by the NCCoE to work on the first use case of the Mobile Driver’s License (mDL) project, which has a focus on implementing mDLs in financial services to meet customer identification program requirements.

IDEMIA, and their fellow collaborators, will work with the NCCoE to accelerate the adoption of digital identity standards and best practices by producing reference architectures, representative workflows, and implementation guides to address real-world challenges faced by the adoption of mDL in the financial sector.

As a leader in the biometric and identity space, IDEMIA is uniquely positioned to contribute their knowledge and expertise to the project. IDEMIA has demonstrated its leadership in the digital credential market and has rolled out its next generation of mobile ID technology to New York, ArizonaDelaware, Iowa, and Mississippi, with more states to launch later this year. With a customer-first and privacy by design approach at the forefront of their technology, IDEMIA’s mobile ID app is designed to provide individuals with an easy and contactless way to verify their identity while protecting their privacy and ensuring security.

“Whether boarding a plane, creating a bank account, or making an online purchase, mobile driver’s licenses (mDLs) and other digital credentials have the potential to improve the way we conduct transactions, both in person and online. To help realize this potential, the NCCoE is collaborating with more than a dozen partners from across the mDL ecosystem to build out reference implementations and to accelerate the adoption of mDL standards and best practices,” said Bill Fisher, co-lead of the NIST mDL project, NIST National Cybersecurity Center of Excellence.

“With our commitment to expanding the use of mobile ID as a trusted, government-issued digital ID, we are thrilled to be part of this collaboration to develop digital identity standards and best practices surrounding mobile ID,” shared Donnie Scott, CEO of IDEMIA Public Security North America. “Our team is looking forward to contributing our expertise, insights, and resources and seeing what this unique collaboration among our fellow technology providers will bring to the future of mobile ID and the digital credential market.”

For more on IDEMIA’s mobile ID technology, click here.

About IDEMIA Public Security North America   
IDEMIA Public Security North America is a leader in identity security and authentication services to governments and private companies operating in North America. Our mission is to Unlock the World, Make It Safer – helping people access what matters most, more quickly, more safely, and more securely, in both the physical and the digital worlds. Our best-in-class technology helps to authenticate and secure physical and digital transactions. IDEMIA is recognized by the National Institute of Standards (NIST) as a top-ranking participant in the Institute’s passenger facilitation simulation testing as well as in its regular Face Recognition Vendor Test (FRVT) rankings, reinforcing the trustworthiness and reliability of IDEMIA’s facial recognition solutions for government and consumers alike.    

Learn more at www.na.idemia.com / Follow @Idemia_NA on Twitter and on LinkedIn.   

About the National Cybersecurity Center of Excellence
The National Cybersecurity Center of Excellence (NCCoE), a part of the National Institute of Standards and Technology (NIST), is a collaborative hub where industry organizations, government agencies, and academic institutions work together to address businesses’ most pressing cybersecurity issues. This public-private partnership enables the creation of practical cybersecurity solutions for specific industries, as well as for broad, cross-sector technology challenges. Through consortia under Cooperative Research and Development Agreements (CRADAs), including technology partners—from Fortune 50 market leaders to smaller companies specializing in IT security—the NCCoE applies standards and best practices to develop modular, adaptable example cybersecurity solutions using commercially available technology. The NCCoE documents these example solutions in the NIST Special Publication 1800 series, which maps capabilities to the NIST Cybersecurity Framework and details the steps needed for another entity to recreate the example solution. The NCCoE was established in 2012 by NIST in partnership with the State of Maryland and Montgomery County, Maryland. Information is available at: https://www.nccoe.nist.gov

Media contact:    
Genevieve de Vera        
IDEMIA Public Security North America  
(978) 808-7047  
genevieve.devera@us.idemia.com

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SOURCE IDEMIA Identity & Security USA LLC

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Tripleseat Announces Integration with Amaze Insights to Enhance Comprehensive Reporting for Hotels

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Tripleseat, the leading event management software for hotels, restaurants, and unique venues, is excited to announce a new integration with Amaze Insights, a dynamic reporting platform designed to streamline data from multiple sales and catering (S&C) platforms.

CONCORD, Mass., Oct. 1, 2024 /PRNewswire-PRWeb/ — Tripleseat, the leading event management software for hotels, restaurants, and unique venues, is excited to announce a new integration with Amaze Insights, a dynamic reporting platform designed to streamline data from multiple sales and catering (S&C) platforms. This integration aims to enhance the ability of hotel brands, management companies, and individual properties to drive occupancy and revenue by providing a comprehensive view of their sales data in a single, easy-to-use platform.

This integration aims to enhance the ability of hotel brands, management companies, and individual properties to drive occupancy and revenue by providing a comprehensive view of their sales data in a single, easy-to-use platform.

With this new integration, Tripleseat customers in the hospitality industry can now seamlessly leverage Amaze Insights to pull key performance data from Tripleseat and multiple other platforms into one consolidated report. This integration will enable hotel professionals to track crucial metrics like booking pace, need-to-fill dates, and more, all from a single, intuitive dashboard. The partnership addresses the growing need for comprehensive, streamlined reporting tools that help hotels optimize operations and increase profitability.

“Tripleseat continues to lead the hospitality industry by offering our clients innovative solutions that simplify operations and improve performance,” said Sam Dewey, Tripleseat’s Senior Vice President of Growth. “The integration with Amaze Insights demonstrates our commitment to providing hotels with the most effective tools to manage their events and operations, driving both efficiency and profitability. By bringing together powerful event management and insightful reporting, we are enabling our clients to make smarter, data-driven decisions.”

“We’re thrilled to integrate Amaze Insights with Tripleseat,” said Jaime Job, CEO of Amaze Insights. “Our mission is to provide hoteliers with a single-source view of their performance data, helping them make faster, better-informed decisions. The synergy between Amaze Insights’ comprehensive reporting capabilities and Tripleseat’s powerful event management platform creates a solution that is both comprehensive and user-friendly for hotel teams. We look forward to seeing how this integration will empower hoteliers to drive growth and success.”

For hotel customers, this integration represents a significant opportunity to gain deeper visibility into their performance across various data points, from booking trends to revenue pacing. This will give them the ability to take quick, informed actions to meet business objectives. By combining the strengths of Tripleseat’s event management tools with the robust reporting capabilities of Amaze Insights, hotels will have more control over their event operations and be better positioned to succeed in an increasingly competitive market.

About Tripleseat Tripleseat is the leading hospitality management platform for restaurants, hotels, and unique venues that simplifies the booking process and streamlines communication for venue managers and customers. Founded in 2008, Tripleseat helps venues generate new leads, close more sales, and increase event revenue.

About Amaze Insights Amaze Insights provides advanced reporting tools that help hotels and management companies increase occupancy and revenue through dynamic, single-view reports. Amaze works with all major S&C platforms, offering users a streamlined way to analyze key performance metrics and make data-driven decisions.

For more information, visit tripleseat.com and amazeinsights.com.

Media Contact

Dana Yerid, Tripleseat, 1 978 614 0490, Dana@tripleseat.com, www.tripleseat.com

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John Burke Joins Realogic Solutions’ Executive Committee, Expanding Leadership Excellence

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CLEVELAND, Oct. 1, 2024 /PRNewswire/ — Realogic Solutions, a leader in innovative business solutions and strategic consulting, is excited to announce the appointment of John Burke to its Executive Committee, effective immediately. John, who joined Real Talent Group, a portfolio company of Realogic Solutions, as Managing Director in August 2024, brings over two decades of executive management and sales leadership experience to his new role.

In his expanded capacity as Executive Vice President, John will oversee Realogic Solutions’ Partnership Program, spearheading collaborations with leading software and technology companies. His extensive experience in global sales, strategic alliances, and technology innovation will be instrumental in cultivating partnerships that drive mutual growth and enhance the value of the company’s solutions for clients across various industries.

John’s career spans high-impact leadership positions at industry giants such as SAP, Oracle, and Deloitte, where he developed a reputation for driving growth, scaling organizations, and building high-performing teams. His deep expertise in sales leadership, management consulting, and strategic hiring will be pivotal as Realogic Solutions continues its mission to deliver innovative solutions that empower businesses to thrive in today’s competitive landscape.

“John has consistently demonstrated the ability to transform businesses by aligning cutting-edge technology with strategic goals,” said David Snyder, CEO of Realogic Solutions. “His leadership style, which is grounded in humility and collaboration, aligns perfectly with our values of excellence and client success. We are thrilled to have him join the Executive Committee and contribute to Realogic Solutions’ ongoing growth and innovation.”

At Real Talent Group, John has already made significant strides in reimagining workforce solutions to accelerate economic progress. His experience in executive roles at SAP, Oracle, and other leading organizations, combined with a data-driven go-to-market approach, will help Realogic Solutions further expand its reach and impact across key sectors, including healthcare, automotive, and financial services.

John’s background also includes extensive work in cloud solutions, mergers and acquisitions, and corporate strategy, making him a versatile leader with a comprehensive understanding of the challenges and opportunities facing businesses today. His addition to the Executive Committee signals Realogic Solutions’ commitment to expanding its leadership team with forward-thinking executives who bring both industry expertise and a track record of success.

John holds leadership positions on multiple boards, including Storyleaders, where he has helped foster transformative sales leadership across industries. While continuing as Managing Director for Real Talent Group, John is expanding his capacity in the role of Executive Vice President at Realogic Solutions, to focus on shaping the company’s strategic direction and strengthen partnerships as a member of the Executive Committee.

For more information about John Burke’s appointment and Realogic Solutions’ leadership team, please visit www.realogicsolutions.com .

About Realogic Solutions

Realogic Solutions is a leading business consulting and technology solutions provider, helping organizations accelerate their growth through innovative, data-driven strategies. With a focus on operational excellence, Realogic Solutions delivers value across industries, ensuring that clients achieve their business goals through cutting-edge solutions.

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SOURCE Realogic Solutions

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