Gartner defines the asset performance management (APM) software market as the software and applications that optimize the reliability and availability of industrial operational assets. The market is particularly attractive to asset-intensive industries, including power, utilities, manufacturing, oil and gas, natural resources, telcos, and transportation (excluding aviation, which has specialized requirements). In these industries, asset failure can have a significant impact on service delivery, the bottom-line revenue, and safety and reputation. APM is primarily deployed on industrial assets, including fixed industrial plants and equipment, linear assets or infrastructure, fleets, and facilities.
Condition Monitoring Software is a specialized tool designed to track, analyze, and manage the operational health of machinery and equipment in real time. By integrating sensors, IoT devices, and data acquisition systems, it continuously collects parameters such as vibration, temperature, pressure, and acoustics from industrial assets. Advanced algorithms, including machine learning and AI, process this data for analysis to detect anomalies, predict potential failures, and recommend maintenance actions, enabling a shift from reactive to predictive maintenance strategies. This software provides dashboards for visualization, generates alerts for deviations, and supports reporting tools to streamline decision making. The implementation of Condition Monitoring Software is particularly beneficial in industries with high-value assets, such as manufacturing, oil and gas, and transportation. By leveraging this technology, companies can enhance their operational efficiency, improve safety standards, and achieve a significant return on investment through reduced downtime and maintenance expenses.
The global industrial IoT platform delivers multiple integrations to industrial OT assets and other asset-intensive enterprises’ industrial data sources to aggregate, curate and deliver contextualized insights that enable intelligent applications and dashboards through an edge-to-cloud architecture. The global industrial Internet of Things (IIoT) platform market exists because of the core capabilities of integrated middleware software that support a multivendor marketplace of intelligent applications to facilitate and automate asset management decision making. IIoT platforms also provide operational visibility and control for plants, infrastructure and equipment. Common use cases are augmentation of industrial automation, remote operations, sustainability and energy management, global scalability, IT/operational technology (OT) convergence, and product servitization of industrial products. The IIoT platform monitors IoT endpoints and event streams, supports and/or translates a variety of manufacturer and industry proprietary protocols, analyzes data in the platform, at the edge and in the cloud, integrates and engages IT and OT systems in data sharing and consumption, enables application development and deployment and can enrich and supplement OT functions for improved asset management life cycle strategies and processes. In some emerging use cases, the IIoT platform may obviate some OT functions.
Gartner defines manufacturing execution systems (MES) as a specialist class of production-oriented software that manages, monitors and synchronizes the execution of real-time physical processes involved in transforming raw materials into intermediate and/or finished goods. These systems coordinate this execution of work orders with production scheduling and enterprise-level systems like ERP and product life cycle management (PLM). MES applications also provide feedback on process performance, and support component and material-level traceability, genealogy and integration with process history, where required.
Supervisory control and data acquisition (SCADA) software is essential for industries such as manufacturing, energy and utilities, transportation etc. to control the processes, collect & monitor real-time data, and communicate system issues. The software communicates with devices such as programmable logic controllers (PLCs) and Remote Terminal Units (RTUs) to interact with industrial equipment and processes. SCADA software can be run virtually, which allows the operator to supervise the industrial processes even from a distant location. The software provides real-time data insights through Human Machine Interface (HMI) to maximize efficiency, reduce overhead costs, and streamline operations. The software also warns the operator of any hazardous conditions such as blocked processes and failing systems.