Frost Radar: Asset Performance Management, 2023

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines

Asset performance management (APM) systems are critical tools for asset-heavy industries, including oil and gas, petrochemicals and chemicals, mining and metals, and manufacturing, to effectively manage costs and risks in today's volatile business climate. The APM landscape comprises a mix of traditional industrial automation vendors, hyperscalers, IT companies, and emerging disruptive tech startups competing to gain market share, expand their product portfolios, and offer asset management applications to a wide range of new industry verticals. The main technological enablers driving the maintenance capabilities of asset-intensive industries are artificial intelligence (AI), machine learning, Big Data management, advanced analytics, cloud/edge computing, digital twins, virtual/augmented/mixed reality (VR/AR/MR), and intelligent sensors.

The APM Frost Radar™ reveals the market positioning of leading companies using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™, considering their strengths and the opportunities that best fit those strengths.