Gartner - 2017 Market Guide for Asset Performance Management

CIOs in utilities and other asset-intensive organizations can use this research to support the development of enterprise APM strategies. APM is a key element of the foundational technology that can help their organizations achieve higher levels of operational reliability, safety and efficiency.

Key Findings

• Asset performance management (APM) solutions are widening in scope and decreasing in deployment cost due to market acceptance, increasing competition and maturation of enabling technologies such as advanced analytics, algorithms, cloud and the Internet of Things (IoT).
• As APM solutions mature and cloud deployment increases, asset management will become a more collaborative process. Activities will be shared among asset owners, operators, service providers and OEMs.
• Asset management strategies are beginning to shift from preventive to predictive — driven by innovation in enabling technologies and streamlined access to consistent operational technology (OT) data resulting from IT and OT alignment and integration.
• As the market becomes more defined, vendors seek product differentiation by offering domain expertise and the alternative delivery option of APM as a service.

Recommendations

• CIOs in asset-intensive industries who are optimizing foundational technologies should:
• Develop and expand expertise in critical APM technology building blocks by adopting a bimodal approach and leveraging advanced analytics, IoT, algorithms and cloud computing.
• Use third-party APM services to collect and analyze equipment data and support performance improvements, if internal IT resources are constrained or third-party collaboration is a goal.
• Identify possible data sources to support a predictive strategy and determine what data analysis software can maximize your investment in multiple situations by collaborating with your operations team.
• Determine the pros and cons of outsourcing data analysis core competencies by examining how much of product or domain expertise is unique and, therefore, should be a core competency.
• Decrease unplanned work, mean time between failures and mean time to repair metrics by working closely with your maintenance and reliability departments.

Full Report is provided by GE here>>