Industrial asset management market projected to surpass $557.5 billion by 2032 with focus on sustainability and energy efficiency

From GlobeNewswire: 2024-11-26 06:30:00

The industrial asset management market is projected to surpass USD 557.5 billion by 2032, driven by advanced technologies like predictive analytics and AI. These tools help forecast equipment failures, optimize performance, and reduce maintenance costs, enhancing operational efficiency. Sustainability and energy efficiency are key factors shaping market growth, especially in energy-intensive industries. Integrated asset management solutions, including real-time data analytics and IoT sensors, play a crucial role in maximizing asset performance and extending lifecycles. The oil & gas sector holds a significant share in the market, emphasizing the need for asset optimization and safety. The U.S. leads in North America, while Europe sees growth due to sustainability focus and strict regulations.



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