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Remote Asset Management Market: Key Players, Growth, Analysis, 2017 – 2025

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TMRR’s latest report on global Remote Asset Management market

The recent market intelligence study by Tailor Made Reports elaborates the all in all perspective of the worldwide Remote Asset Management market, from its historical growth through the future outlook. The report is scrutinized on the basis of product type, end use, region and market players. Each segment depicted based on market share, revenue, and demand prospect.

Analysts at TMRR find that the global Remote Asset Management market reached a value of ~US$ xx Mn/Bn in 2018 and is anticipated to grow at CAGR of xx% during the forecast period 2019-2029. The growth is primarily driven by increasing demand for Remote Asset Management among the consumers, better disposable income, and enhanced GDP in developing countries.

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Key Trends 

Soaring adoption of IoT among organizations has led to a surge in connected devices that can integrate different elements of the asset lifecycle. This is a key factor propelling the remote asset management market. Declining cost of IoT components has spurred the demand for remote asset management systems worldwide. In addition, the increasing need for predictive and preventive maintenance and real-time monitoring across organizations has stimulated the demand for remote asset management system. 

Furthermore, the implementation of remote asset management systems has helped asset-intensive enterprises boost the returns on their investments, thereby accelerating the deployment of remote asset management solutions and platforms. The advent of cloud-based remote asset management solutions has made the deployment cost-effective, creating new opportunities for vendors in the market. 

Global Remote Asset Management Market: Market Potential 

In April 2017, Trimble Inc., headquartered in California, inked a partnership with Railhead Corporation, an emerging provider of digital video solutions in Illinois focused on the transportation industry, to integrate real-time monitoring, asset diagnostics, and onboard video capabilities in remote asset management system. The partnership will help in the optimal utilization of locomotive assets and enable end-use operators to improve productivity in North American railways. 

The collaboration will allow Railhead to get access to the Trimble R2M system to improve safety, tracking, and operations in rail operations. The R2M system helps in real-time monitoring of rail assets and provides condition-based reporting on the status of its various onboard systems. Fed by a wealth of real-time data from on-train event recording equipment, the system can deliver fault alerts to control rooms, which helps in proactive condition-based maintenance of train operations.

Trimble R2M system was first launched in Europe a decade ago and has already been successfully adopted by big rail operators such as Greater Anglia in the U.K., the Irish Rail, and Varkaus Railways in Finland. The collaboration incorporates the integration of video data streams from Railhead’s locomotive digital video recorders (LDVR) with the real-time system data feeds from the Trimble R2M system. The integrated product portfolio further includes an end-to-end interface module and an onboard condition monitoring device. The solution is considered to be highly modular, which will help railway operators scale the solution according to their expanding requirements without significant up-front cost. 

Global Remote Asset Management Market: Regional Outlook

Geographically, North America is a prominent market for remote asset management systems. The growth of the regional market is propelled by considerable advancement in IoT, rapid pace of digitization, and increasing adoption of real-time automated solutions across organizations. In addition, an increasingly large presence of regional solution providers who offer cloud-based remote asset management solutions is expected to trigger the demand for remote asset management in North America. 

Meanwhile, Asia Pacific is expected to expand at an impressive CAGR over the forecast period. The growth of the Asia Pacific market is attributed to growing popularity of IoT among businesses to manage and streamline their asset lifecycle. 

Global Remote Asset Management Market: Competitive Analysis 

Several vendors in the remote asset management market are offering end-to-end solutions, on-premise as well as cloud-based deployment model, to consolidate their shares in major regions. Leading players operating in this market include Cisco Systems, Inc., AT&T Inc., Schneider Electric SE, Hitachi, Ltd., Infosys Limited, Rockwell Automation, Inc., SAP SE, and Verizon Communications, Inc.

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After reading the Remote Asset Management market report, readers can:

  • Understand the drivers, restraints, opportunities and trends that impact the overall growth of the Remote Asset Management market.
  • Grasp the market outlook in terms of value and volume.
  • Study the strengths, weaknesses, opportunities and threats of each stakeholder operating in the Remote Asset Management market.
  • Learn about the manufacturing techniques of Remote Asset Management in brief.
  • Figure out the positive and negative factors impacting the product sales.

What kind of questions the Remote Asset Management market report answers?

  1. Why is region witnessing the slowest demand growth for Remote Asset Management ?
  2. What kind of agreements are the players entering into in the global Remote Asset Management market?
  3. Which sub-segment will lead the global Remote Asset Management market by 2029 by product?
  4. Which Remote Asset Management market players hold significant shares in terms of value and volume?
  5. What alternatives are consumers looking for in the global Remote Asset Management market?

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About TMR Research:

TMR Research is a premier provider of customized market research and consulting services to busi-ness entities keen on succeeding in today’s supercharged economic climate. Armed with an experi-enced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

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This post was originally published on Space Market Research

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