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Remote Asset Management Market Share

Report ID: GMI10237
Published Date: Jul 2024
Report Format: PDF

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Remote Asset Management Market Share

IBM Corporation, Emerson Electric Co., and AT&T Inc. hold a significant market share of 15%. AT&T provides robust IoT connectivity solutions that enable remote monitoring and management of assets. This includes offering SIM cards, cellular networks, and satellite communication services. The company also offers industry-specific solutions tailored to sectors such as manufacturing, utilities, transportation, and energy. These solutions address unique challenges in each industry, providing actionable insights to improve asset performance and reliability.

IBM's IoT platform provides connectivity and data management capabilities for remote assets. It integrates Internet of Things (IoT) data locally using edge computing technologies, such as IBM Edge Application Manager, lowering latency and providing real-time insights for distant asset monitoring and decision-making.

Remote Asset Management Market Companies

Major players operating in the remote asset management industry are:

AT&T Inc.
IBM Corporation
Siemens AG
Schneider Electric
SAP SE
Rockwell Automation, Inc.
Emerson Electric Co.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of remote asset management reached USD 22.2 billion in 2023 and is set to witness over 15% CAGR between 2024 and 2032, driven by the higher adoption of real-time monitoring and predictive maintenance tools.

The cloud deployment mode segment accounted for over 65% of the remote asset management industry share in 2023 as they provide high availability, reliability, and performance.

North America recorded 37% of the market share in 2023, due to robust infrastructure and widespread adoption of advanced technologies, such as IoT, AI, cloud computing, and big data analytics.

AT&T Inc., IBM Corporation, Siemens AG, Schneider Electric, SAP SE, Rockwell Automation, Inc., and Emerson Electric Co.