GE Digital Leads in APM Solutions With a Focus on Customer Success
August 11 2021 - 10:00AM
Business Wire
- New Verdantix report recognizes GE Digital as having a
comprehensive, cross-industry capability in Asset Health
Monitoring, Asset Failure Prediction, Maintenance and Performance
Optimization Categories
- Report states the APM software market is expected to grow by
12% Y/Y to $4.4 billion in 2025
GE Digital today announced that the latest Verdantix Buyer’s
Guide to Asset Performance Management (APM) Software has recognized
GE Digital as a leader in the competitive field with a focus on
customer success. The report from Verdantix, an independent
industry analyst firm, provides executives at industrial facilities
responsible for performance and maintenance optimization with an
up-to-date analysis of 27 prominent APM solutions. The report also
notes that the APM solutions market is currently sized at $2.7
billion and has a promising forecast – it is expected to grow by
12% year over year to $4.4 billion in 2025.1
According to Verdantix, there are four main functionalities that
best constitute a holistic APM offering: Asset Health Monitoring,
Asset Failure Prediction, Maintenance Optimization, and Performance
Optimization. GE Digital was found to have a comprehensive,
cross-industry capability for each category. This report updates
and extends Verdantix’s analysis of solutions provided through the
Green Quadrant: APM Solutions published in June 2020.
In addition, the Buyer’s Guide recognizes GE Digital’s APM
software as having:
- Broad and deep asset health monitoring and failure
prediction functionality. GE Digital achieved perfect scores of
3.0/3.0 for asset health monitoring and asset failure prediction
functionality in the 2020 Verdantix APM Green Quadrant. This is
provided by the full APM suite of software – APM Health providing a
comprehensive view of asset health with performance dashboards; APM
Reliability offering built-in workflows for production loss
analysis, root cause analysis, and statistical reliability analysis
and optimization; APM Strategy for risk-based analysis and
optimization; and APM Integrity to manage risk, lower inspection
costs, and ensure regulatory compliance. The report also included
GE Digital’s SmartSignal software that offers predictive
maintenance functionality driven by time-to-action forecast
analytics in this category.
- Implementation and asset class expertise that drives
accelerated project success. The report acknowledges GE
Digital’s Industrial Managed Services (IMS) as ensuring customers
can capitalize on the long-term value of their APM solution with
training, process development, and asset monitoring through Digital
Twin technology. GE Digital’s IMS centers worldwide monitor more
than 8,000 customer assets and have saved industrial companies a
total of $1.5B+ USD in avoided costs. By managing the software and
analytics, and providing expert services, IMS experts augment and
expand a company’s digital capabilities and Operations &
Maintenance (O&M) staff.
- Comprehensive and use-case specific mobile applications.
APM’s Rounds Data Collection module allows users to efficiently
collect and analyze equipment readings.
“GE Digital is a protagonist in its core vision to connect asset
reliability with financial performance metrics and is supported by
its well-founded subject matter expertise and comprehensive
implementation programme,” said Victor Voulgaropoulos, industry
analyst for Verdantix. “The APM solution market has exhibited
resiliency to the COVID-19 pandemic, with operations and
maintenance leaders turning to digital solutions to help optimize
asset performance and intervention strategies to counteract demand
shocks and supply chain disruptions.”
According to Verdantix, digitally-enabled automation and remote
operations are now a high priority across all industries. This
trend has created demand for upgrading legacy infrastructure and a
mindset change across all levels of an organization, from
technicians and engineers to directors and executives.
“APM solutions are playing a key role in ensuring reliable
operations and minimizing outages, which have substantial
financial, legal, and safety implications in critical industries,”
said Linda Rae, General Manager of GE Digital’s Power Generation
and Oil & Gas business. “We’re very pleased that GE Digital has
been recognized not only for our APM solution, but for our ability
to help customers achieve success with it.”
More information about GE Digital’s Asset Performance Management
software solutions can be found here.
About GE Digital
GE Digital transforms how our customers solve their toughest
challenges by putting industrial data to work. Our mission is to
bring simplicity, speed, and scale to digital transformation
activities, with industrial software that delivers breakthrough
business outcomes. GE Digital’s product portfolio – including grid
optimization and analytics, asset and operations performance
management, and manufacturing operations and automation – helps
industrial companies in the utility, power generation, oil &
gas, aviation, and manufacturing sectors change the way industry
works. For more information, visit www.ge.com/digital.
1 see Verdantix Market Size And Forecast: Asset Performance
Management Solutions 2019-2025.
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Media: Rachael Van Reen GE Digital
Rachael.VanReen@ge.com
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