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Licensed for Distribution

Market Guide for Asset Performance Management Software

11 October 2022 - ID G00757960 - 30 min read

By Nicole Foust, Kristian Steenstrup

APM is an important technology for asset-intensive organizations to better enable business outcomes with strategic asset maintenance decision support. CIOs can use
this guide for insights on stand-alone APM vendor offerings to make informed technology decisions.

Overview
Key Findings
• Asset-centric industries are facing increasing operational challenges, changing business dynamics and impacts from global events such as the COVID-19 pandemic, the
Russian invasion of Ukraine, recession, climate change and the energy crisis, driving the need for technology investment to support resilience.

• As organizations progress their asset management practices, they look to asset performance management (APM) to inform intelligent operations with optimization of asset
maintenance and associated costs.

• Cloud and software as a service (SaaS) delivery of APM are dominating the market with an increasing interest in more-flexible (modular or composable) product
consumption.

• Common challenges to APM deployment that block success are digital business immaturity, access to good quality and consistent data, integration with operational data
tools/enterprise asset management (EAM), and business capability (including culture) supported by IT/operational technology (OT)/engineering technology alignment.

• Predictive forecasting of maintenance is an increasingly important and prioritized function of APM; however, an expanding vendor ecosystem with varying predictive models
is creating confusion and driving deployment complexity.

Recommendations
CIOs in asset-intensive industries involved in IT optimization and modernization for asset maintenance optimization should:

• Assess the organization’s asset management capabilities and maturity by working with business and IT leads to ensure the requisite level of people/skills, processes and
data are in place as prerequisites to APM investment.

• Map the specific business outcomes across asset classes. Work with IT departments and business users to maintain an asset strategy roadmap that is measurable with
targeted key performance indicators.

• Evaluate vendor products by completing fit-gap analysis, focusing on the maintenance activities needed mapped to the desired functionality and capability provided by the
tool. Aim for a repertoire of cost-effective maintenance capabilities by asset class across your organization, providing a broad array of tools offered in your ideal application
architecture.

• Predictive forecasting of maintenance is a key function of APM and must be carefully evaluated. Differentiate vendor products by assessing them in light of the specific
maintenance outcomes aligned with the asset type(s) and their industry experience.

Strategic Planning Assumption

By YE23, 30% of asset-intensive organizations will be actively investing in APM to support improved asset maintenance activities, up from 18% in 2022.

Market Definition
The APM software market is defined as solutions that optimize the reliability and availability of operational assets (such as industrial plants, equipment and infrastructure).
Organizations invest in APM tools and technologies to reduce unplanned (and unnecessary planned) repair work, improve asset availability and safety, minimize maintenance
costs, and reduce the risk of failure of critical assets. APM uses data integration, analytics and visualization to improve maintenance decisions to reduce the disruption to
operations. APM identifies which maintenance and inspection activities to perform on industrial assets and when. APM products provide capabilities and functionality to
support asset strategy, risk management, predictive maintenance and reliability-centered maintenance (RCM) activities. APM products must demonstrate that they are native
products offered by the vendor and should be deployed as a stand-alone solution integrating with multiple EAM products.

Market Description
Gartner positions APM as an early mainstream technology offering high benefits from proven technology vendors with technology and adoption rapidly evolving. APM
deployments and maturity in the market are fragmented by geography, industry and focus of specialization by asset class and capability. This research focuses on the needs of
companies in asset-intensive industries, particularly utilities, manufacturing, oil and gas, natural resources, telcos, and transportation (excluding aviation which has specialized
requirements).

APM Significance Differs Across Industries

Many organizations are evaluating opportunities for better maintenance as they move beyond being stranded in break/fix or time-based preventive maintenance modes (see
Note 1). Although asset maintenance strategies are advancing across all asset-intensive industries, and APM adoption is progressing, it comes at a varied pace. Those
industries that depend more on their assets — such as transportation, utilities, natural resources and process industries (for example, industrial discrete and process
manufacturing) tend to be more focused and further along in executing their asset management strategic roadmap. This is because, in asset-centric industries (see Figure 1),
asset failure has a significant impact on the bottom line. These industries have advanced maintenance needs that drive these organizations to invest more heavily in APM tools.

Other industries that rely on industrial assets but have other business factors (such as healthcare or retail) are less mature in this journey and tend to invest incrementally in
APM solutions. Though less mature, these industries also are investing in asset management improvement projects with the goal of improving reliability and reducing costs
with an APM investment.

Figure 1: APM Significance by Industry

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Gartner

Gartner surveyed APM vendors to assess their proportional coverage of global markets by industry. The vendors shown in Figure 2 supplied the percentages (with the overall
total for each vendor equal to 100%) of their 2021 APM revenue by industry subsector installed base. Some vendors are narrowly focused on one or two industry sectors, while
others aim for a horizontal footprint that serves a broader market. APM buyers can use this data for insights on potential APM products in a particular industry.

Figure 2: 2021 APM Installed Base by Industry

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Gartner

Figure 3 provides vendor revenue from APM by customer size, as reported by the vendors on their 2022 installed base. APM buyers can use this data for insights on potential
APM products’ scalability.

Figure 3: APM Vendor Revenue by Customer Size

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Gartner

APM Capabilities Rest on Data Aggregation

APM is an asset and maintenance decision support solution. It includes specific functional capabilities that require data collection and aggregation from Internet of Things
(IoT), data historians, and other operational measurement and data stores for the purpose of analysis (see Table 1).

Table 1: APM Capabilities and Supporting Techniques

Capability Techniques: Processes and Tools

Asset Risk Management • Various analysis techniques and tools for calculating risk and assessing criticality, including:

• Weibull analysis — Statistical distribution of asset life data from a representative set of sample units to predict the life of an asset

• Risk-based inspection (RBI) — Analysis methodology and process that requires qualitative or quantitative assessment of the probability of failure
(PoF) and the consequence of failure (CoF) associated with each equipment item

• Fault tree analysis (FTA) — A deductive failure analysis method that models the pathways within a system that can lead to failures or undesired
results

Asset Strategy Management • Data collection and aggregation from EAM systems

• Integration with major EAM systems for updating and executing maintenance plans

• Mechanical integrity — Management of critical process equipment to ensure it is designed and installed correctly, and that it operates and is
maintained properly (that is, all elements are fit for service)

• Safety integrity level (SIL) analysis — A method to indicate the tolerable failure rate of a particular safety function

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Capability Techniques: Processes and Tools

Reliability-Centered • Data collection and aggregation from EAM systems

Maintenance (RCM)
• Root-cause failure analysis — Actions taken to determine why a particular failure or issue exists and to correct those causes

• Library of failure modes and recommended practices

• Failure mode and effects analysis (FMEA) — A method to identify where and how an asset might fail and to assess the relative impact of different
failures

Predictive Maintenance • Statistical modeling/regression analysis of physically observable characteristics in a piece of equipment, recorded over a period of time in a one-to-
Forecasting one relationship

• Neural network analysis — Computational data model that can capture and represent complex input/output relationships

• Machine learning to determine the related characteristics that are observable in a failure of equipment or parts so as to use that as the basis of
future failure indicators

• Proprietary algorithms

• Monte Carlo simulation

Source: Gartner (October 2022)

There are other complementary, but separate, asset management systems — namely EAM and asset investment planning (AIP). These systems are not assessed in this
research, but it is important to understand the relationship (see Note 2).

Enterprise Asset Management May Include APM

Most EAM vendors have an APM product strategy; many rely on partnerships with APM vendors. However, a growing number of EAM products include APM as an intrinsic set
of capabilities. EAM examples include Aptean, Hexagon (HxGN EAM), IFS, Oracle, SAP and Ramco. Therefore, if you currently have one of the associated EAM products, their
APM should be included in your vendor shortlist for evaluation (see Market Guide for Enterprise Asset Management Software).

Market Direction
APM is an important core competency for asset-intensive and asset-centric organizations. Realizing the benefits, businesses can move beyond the more-common use case of
equipment reliability to leveraging these tools to help improve overall business operations. These benefits and the progression in use cases to better support improved overall
business operations are fueling activity in the market in the following areas.

Cloud and SaaS Delivery of APM

Changing user attitudes driven by increasing operational pressures and expanding vendor offerings are shifting market dynamics away from on-premises deployments. In
addition to an increasing number of vendors modernizing their architectures, cloud-based alternatives are becoming more common, with some vendors being exclusively cloud-
based. Cloud-based alternatives may not appeal to all organizations in the APM market. Key considerations include cloud type, directed by the degree of control needed;
architecture (including cloud-edge integration); and security. They often drive the organization’s requirements, which are shaped by compliance and regulations. However, an
increasing number of organizations that face capital, business and operational constraints are choosing cloud as the deployment option. APM is a rapidly evolving technology,
and cloud or SaaS product versions may include more up-to-date enhancements than the on-premises versions. As vendors evolve their products leveraging artificial
intelligence (AI), machine learning (ML), industrial Internet of Things (IIoT) and improved analytic techniques and tools, cloud enables improved capability and scale (see How
Executive Leaders Should Justify Moving to the Cloud).

Flexible APM Architecture

Increasing internal and external forces are driving asset-intensive organizations to adapt to business and operating model changes at an accelerating pace. As a result of these
dynamics, there is growing interest in APM products that have a modular or composable architecture to deliver continuing business value and resilience (see 2022 CIO and
Technology Executive Agenda: Industries Perspective Overview). Asset-intensive businesses that are aiming to become event-driven organizations that deliver flexible and
resilient operations have the biggest opportunities to smoothly navigate through these factors. APM product modularity and composability enabled by flexible application
architecture can provide more dynamic deployment capabilities. Traditional monolithic commercial off-the-shelf (COTS) IT products lock businesses to past strategies.
However, modular or composable APM products can be orchestrated for different business and operating models across an enterprise (see How to Design Enterprise
Applications That Are Composable by Default).

Optimize Maintenance Across Asset Base

There are multiple levels of asset maintenance approaches, with varying degrees of complexity (see Use a Step Program to Orchestrate Maintenance and Reliability
Technology). As organizations mature their asset management strategy, APM becomes a strategic decision support tool that enables financial optimization of the assets’
economic life traded against asset availability and risk. Organizations are looking beyond their current break/fix and time-based preventive maintenance (PM) by pivoting to
business needs and quantifiable outcomes, including reduced maintenance cost and asset downtime, supporting higher levels of operational and equipment reliability. APM
product viability will depend on the complexity of the businesses, your industry, the types of assets, the skill maturity and the asset maintenance goals. Most organizations will
fall within one of the following areas:

• Need for more than one APM product (such as rotating versus fixed assets)

• Create more customized functionality

• Accept fewer capabilities

For example, an oil and gas organization may have one product deployed enterprisewide to support a predictive maintenance activity on a fleet of compressors in addition to a
different product deployed to support predictive maintenance for a class of valves or pipes. And then leverage their EAM product to support condition-based maintenance
(CbM) on a class of pumps.

Predictive Forecasting of Maintenance, a Nebulous Capability

Predictive forecasting of maintenance (a key function of APM) for an organization’s critical assets is the most attractive aspect of APM currently, but has many variations. This

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is because “predictive” is not a single technique. Vendors offer their proprietary and native built predictive models, which support different outcomes. This expanding
ecosystem of vendors with varying predictive models is driving deployment complexity. Predictive maintenance builds on the same data as condition-based maintenance,
including the correlation of multiple parameters in real time. However, predictive maintenance analyzes the history of failures to forecast events. For example, CbM provides
insights as to when a threshold has been breached in real time, which allows an organization to quickly respond. Predictive maintenance provides insights as to when the
threshold will be breached, based on projections and modeling, to allow advanced planning. Predictive capability often leverages the same data as CbM, in addition to data over
time from other tools, such as historians and EAM, which hold the asset failure history and associated causes.

Example predictive models include:

• Rate of failure (historical basis) — Number of future expected failures in a given time frame

• Expected life (a) — Progressive degradation with a forecast date of failure

• Expected life (b) — Historical failure rate/life of a population used as a basis for a failure forecast

• Emerging failure — Correlation of prior factors that historically coincided with failure

• Discovery of correlating factors that were previously unknown (machine learning)

Asset-intensive organizations must quantify the specific predictive parameters and qualify vendors’ ability to deliver the associated model in support of the specific business
outcome.

Increasing Focus on Organizational Preparedness

Asset-centric industries are facing increasing operational challenges, changing business dynamics and impacts from global events, such as the COVID-19 pandemic, the war in
Ukraine, climate change and the energy crisis. These factors are forcing many organizations to reevaluate their asset strategy, because asset management success impacts the
bottom line directly (see 2022 Strategic Roadmap for Asset Management). Organizations are aiming for business goals, including greater visibility across the entire asset base
and the capability to better support asset management, maintenance and performance. This then drives technology investments, such as upgraded or new enterprise systems
(EAM/APM) and deployments of enabling technologies, such as digital twins, IIoT, ML and analytics. However, all of this complexity often meets obstacles for which CIOs and
stakeholders need to prepare for and address.

Common obstacles to success with APM investments are around organizational preparedness, not simply technology. These include:

• Digital business immaturity generally

• Access to good quality, consistent equipment data

• Integrations with operational data tools (including EAM)

• Business capability in IT/OT alignment or integration

As a prerequisite to APM investments, asset-intensive organizations should assess the organization’s capabilities and maturity. CIOs should work with business and IT leads to
ensure the requisite level of people/skills, processes and data are ready to support project completion and have the ability to support the desired business outcomes.

Market Analysis
The suitable vendors for an organization will be driven by a number of factors, including regional experience and capabilities across the physical assets that are modeled and
managed. Gartner surveyed APM vendors to assess their proportional coverage of global markets. The vendors shown in Figure 4 supplied the percentages (with the overall
total for each vendor equal to 100%) of 2021 APM revenue by geographic regions and customer counts.

Figure 4: Vendor APM Revenue by Geography and Customers

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Gartner

Gartner collected data through vendor interactions and APM buyer interactions for the purpose of demonstrating vendor capabilities in four functional APM categories. Figure 5
illustrates the field-proven capabilities of vendors represented in this Market Guide. It is not a complete list of existing solutions, but is a snapshot of sample APM vendors that
we hear most often from our clients.

Figure 5: Capabilities of Representative Vendors by Asset Type

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For additional insights in support of product evaluation considerations, see the Market Recommendations section.

Representative Vendors
The vendors listed in this Market Guide do not imply an exhaustive list. This section is intended to provide more understanding of the market and its offerings.

Market Introduction
APM products included in this Market Guide must demonstrate that they are native and stand-alone products offered by the vendor and should integrate with multiple EAM
products (see Note 2).

Table 2 displays details of the representative vendors in APM included in this research.

Table 2: Representative Vendors in Asset Performance Management Software

Vendor Headquarters Product Names APM Deployment Industry

ABB Switzerland ABB Ability Genix Asset Performance Management (APM Suite) • Oil and Gas

• Utilities

• Chemical

• Mining and Metals

• Transportation

• Pulp and Paper

• Power Generation

ARMS Australia OnePM • Oil and Gas

Reliability
• Utilities

• Chemical

• Consumer Products (CP), Food and

Beverage

• Manufacturing

• Mining and Metals

• Transportation

• Public sector

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Aspen U.S. aspenONE; • Oil and Gas

Technology Asset Performance Management; Aspen Fidelis Reliability; AspenTech APM
• Utilities

• Process Industries

• Mining and Metals

• Transportation

AVEVA U.K. AVEVA Predictive Analytics; AVEVA Insight; AVEVA Asset Strategy Optimization; AVEVA • Oil and Gas
Operational Safety Management
• Utilities

• Chemicals

• Life Sciences

• CP, Food and Beverage

• Manufacturing

• Mining and Metals

• Transportation

• Public sector

Bentley U.S. AssetWise; PlantSight • Oil and Gas

Systems
• Utilities

• Chemicals

• Life Sciences

• CP

• Food and Beverage

• Manufacturing

• Mining and Metals

• Transportation

• Public Sector

DNV Norway Cascade • Oil and Gas

• Utilities

• Shipping

• Chemical Process

• Manufacturing

GE Digital U.S. Predix Platform Asset Performance Management (APM) • Oil and Gas

• Utilities

• Aviation

• Healthcare

• Chemical

• Mining and Metals

• Semiconductor

• Automotive

• Pulp and Paper

• Food and Beverage

• Consumer Packaged Goods (CPG)

Hitachi Energy Switzerland Lumada APM • Utilities

• Mining and Metals

• Transportation

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Honeywell U.S Forge Asset Performance Management • Oil and Gas

• Utilities

• Chemicals

• Facilities/Real Estate

• Aviation

• Life Sciences

• Manufacturing

• Mining and Metals

• Transportation

• Public Sector

IBM U.S. IBM Maximo Application Suite • Oil and Gas

• Utilities

• Chemicals

• Life Sciences

• CP, Food and Beverage

• Manufacturing

• Mining and Metals

• Transportation

• Public Sector

IPS Germany IPS SYSTEMS Asset Performance Management • Utilities

Schneider France EcoStruxure Asset Advisor; EcoStruxure Grid Asset Advisor • Oil and Gas
Electric
• Utilities

• Process Industries

• Discrete Manufacturing

• Mining and Metals

• Transportation

• Facilities

Siemens Germany Senseye PdM, MindSphere, and Others • Oil and Gas

• Utilities

• Healthcare

• Chemical

• Mining and Metals

• Semiconductor

• Automotive

• Pulp and Paper

• Food and Beverage

• CPG

Source: Gartner (October 2022)

Vendor Profiles
ABB
ABB is a public global technology company based in Zurich, Switzerland. ABB provides software and digitalization solutions connecting its electrification, robotics, automation
and motion portfolio. ABB has a presence in 100 countries globally. Its APM revenue represents 14% of overall digital and industrial software revenue. ABB offers its ABB Ability
Genix APM Suite, with a majority of its clients located in North America, Latin America, Western Europe, India and China and is mainly in the oil and gas, utilities, process, and
transportation industries. ABB supports asset maintenance standards across the industries it serves, including International Organization for Standardization (ISO)
55000/55001, PAS 55 (included in ISO55000), API 580/581, NE 129/107 (NAMUR), International Electrotechnical Commission (IEC) 61511 and ISO 14224. ABB reports that 60%
of its APM deployments are on-premises, 20% delivered as cloud/hybrid and 20% SaaS. ABB offers both perpetual and subscription-based licensing models.

ABB reports more than 50 new APM customers since January 2021. ABB declined to provide a list of publicly shareable APM customers.

Prepackaged Interfaces:

• EAM: IBM, Oracle, SAP

• GIS: Esri

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• AIP: None

Systems Integrators: The Ability Genix Asset Performance Management (APM) implementation is predominantly delivered by ABB, and external partners were not reported.

ARMS Reliability (part of Bently Nevada, a Baker Hughes Company)

ARMS Reliability (acquired by Baker Hughes in April 2021) is a publicly held asset management software and advisory services provider headquartered in Australia. The majority
of its clients are located in North America, Australia and Western Europe. The company has a client base spanning a range of industries. ARMS Reliability offers its OnePM
product with progress underway to integrate with the Bently Nevada product line within Baker Hughes. The provider also offers its Asset Strategy Advisory Service. ARMS
Reliability reports product support for the following standards: ISO 55000, ISO 55001, PAS 55 SAE JA1011. ARMS Reliability reports that 40% of its APM deployments are on-
premises, with 60% delivered as cloud/SaaS/hosted in a public cloud. Their licensing models are based on asset counts, seats or sites.

ARMS Reliability reports 24 new APM customers since January 2021. ARMS Reliability has noted the following publicly shareable APM customers: Albemarle, Icon Water,
MODEC and South32.

Prepackaged Interfaces:

• EAM: JD Edwards EnterpriseOne, IBM Maximo and SAP (S/4HANA certified 2020)

• GIS: None reported

• AIP: None reported

Systems Integrators: Not reported

Aspen Technology
Aspen Technology (AspenTech) is a public company providing asset optimization software and services, headquartered in Bedford, Massachusetts, U.S. The majority of APM
clients are located in North America, Western Europe and Latin America. The company has a client base spanning a range of industries. AspenTech offers its aspenONE Asset
Performance Management (APM). It includes Aspen Mtell and Aspen Fidelis Reliability, Aspen ProMV, Aspen Event Analytics, and Aspen Connect Family. AspenTech reports
product support for the following standards: ISO 55000, ISO 55001 and PAS 55. AspenTech reports that 90% of its APM deployments are on-premises, with 10% delivered in a
public cloud. AspenTech aspenONE APM software is based on a site/enterprise pricing model and its Event Analytics is a seat-based SaaS licensing model.

Aspen Technology declined to report the number of new APM customers since January 2021. Aspen Technology has noted the following publicly shareable APM customers:
Borealis, CSX, IRPC, SCG Packaging and Saras.

Prepackaged Interfaces:

• EAM: IBM, Hexagon (HxGN EAM), Oracle Utilities Work and Asset Management, SAP

• GIS: Not reported

• AIP: Not reported

Systems Integrators: Accenture, Emerson, Fluor, ORBIS, Pinnacle Advanced Reality Technologies, ProSensus, Spartan Controls and Wood

AVEVA
AVEVA is a publicly held engineering and industrial software company headquartered in Cambridge, U.K. The majority of its APM customers are located in North America,
Western Europe, the Middle East and India, and span a range of industries. AVEVA offers an integrated portfolio with several APM products delivered in a module approach.
These include AVEVA Predictive Analytics, AVEVA Asset Strategy Optimization, AVEVA Insight, AVEVA Operational Safety Management and AVEVA Mobile Operator. AVEVA
reports product support for the following standards: ISO 55000, ISO 55001, PAS 55 and ISO 14224. AVEVA reports that 71% of its APM deployments are on-premises, with 27%
delivered in a public cloud and 2% in a private cloud. Its licensing model options include perpetual, subscription and SaaS.

AVEVA declined to report the number of new APM customers since January 2021. AVEVA has noted the following publicly shareable APM customers: Air Liquide, BASF,
Covestro, Duke Energy, SCG and Suncor Energy.

Prepackaged Interfaces:

• EAM: IBM Maximo, Oracle, SAP PM, ULTIMO (IFS)

• GIS: Esri

• AIP: None reported

Systems Integrators: Accenture, EOH, and Wipro

Bentley Systems
Bentley Systems (Bentley) is a publicly held independent software vendor (ISV) based in Exton, Pennsylvania, U.S. Bentley offers its AssetWise Suite of APM products:
AssetWise CONNECT product, AssetWise Asset Lifecycle Information Management (ALIM), AssetWise Asset Reliability, AssetWise Operational Analytics, AssetWise Enterprise
Interoperability and AssetWise Digital Twin Services.Most AssetWise customers are in North America and Western Europe, and span a range of industries. Bentley reports that
44% of its APM customer base is on-premises, with 56% on cloud/hosted. Bentley reports product support for the following standards: ISO 55000, ISO 55001, PAS 55, ISO
18101, API 580, ISO 14224, IEC 61511, ISO 19650. Bentley Systems is 100% subscription model licensing.

Bentley declined to report the number of new APM customers since January 2021. Bentley has noted the following publicly shareable APM customers: ArcelorMittal, Cairn Oil &
Gas, CN, CSX, EPCOR, Network Rail, New York Metropolitan Transportation Authority, Oman Gas and SMRT.

Prepackaged Interfaces:

• EAM: IBM, Oracle, SAP

• GIS: Esri

• AIP: Copperleaf, Remsoft

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Systems Integrators: Advisian, Aladon, The Cohesive Companies (Bentley Systems’ acquisition), Life Cycle Engineering and Worley

DNV
DNV, a privately held provider of classification, technical assurance, software and advisory services, is headquartered in Oslo Norway. The majority of its clients are located in
North America, Europe, Asia and the Middle East. Its primary client base includes oil and gas, utilities, shipping, chemical process, and life science manufacturer clients. DNV
has several APM-related products, including Cascade, Cascade Connect, Cascade Insights, Synergi Pipeline, Synergi Plant and ShipManager Hull. DNV reports 85% of
deployments on-premises, with 15% evenly split between private and public cloud options. DNV reports product support for the following standards: ISO 55000, ISO 55001, PAS
55, ISO/IEC 27000, ISO 9001, IEC, IEEE, API 580 and 581. DNV licensing model is based on Perpetual License, with SaaS for Synergi Pipeline.

DNV reports 20 new APM customers since January 2021 and has declined to provide a list of any publicly shareable APM customers.

Prepackaged Interfaces:

• EAM: IBM Maximo, Oracle Utilities Work and Asset Cloud Service (WACS), SAP

• GIS: Esri, GE Smallworld GIS

• AIP: Copperleaf

Systems Integrators: PwC (Synergi Pipeline product only)

GE Digital
GE Digital is the software division within the publicly held global industrial conglomerate GE. GE Digital is headquartered in San Ramon, California. The majority of its APM
customers are located in North America, Europe, Africa and the Middle East, with a presence in all regions globally. The APM product is deployed on GE and non-GE assets in a
range of industries. GE Digital has streamlined APM to be a horizontal solution built on the Predix Platform, which can be contextualized for industry verticals and delivered via
modules. GE Digital offers APM both as a SaaS solution or on-premises. Both include the GE Digital SmartSignal predictive analytics product. GE Digital reports that 57% of its
APM customer base is on-premises, with 43% on public cloud/hosted (most are on perpetual licenses). GE reports product support for the following standards: ISO 55000, ISO
55001; PAS 55; API 510, 570, 653, 580, 581, B31.1, B31.3, B31.8; BetrSichV (German industrial); NR-13; ASME SEC VIII Div. 1; ISA84.01; IEC-61511.

GE Digital reports 22 new APM customers since January 2021 and has noted the following publicly shareable APM customers: Abu Dhabi National Oil Company (ADNOC),
AmSty, PETRONAS, Sadara Chemical, State Oil Company of the Azerbaijan Republic (SOCAR), Suncor Energy.

Prepackaged Interfaces:

• EAM: IBM Maximo, SAP

• GIS: None reported

• AIP: None reported

Systems Integrators: Accenture, Capgemini, Deloitte, PwC, TCS

Hitachi Energy
Hitachi Energy is a joint venture consisting of Hitachi of Japan (80.1%) and ABB, based in Zurich, Switzerland (19.9%). APM is part of Hitachi’s Lumada portfolio. Its APM clients
are located in North America, Latin America, Western Europe and China, and are mainly in the utilities, mining and transportation industries. Hitachi Energy Enterprise Software
Solutions product group provides a suite of software products, including two APM products: Lumada APM (formerly Asset Health Center) and Asset Suite Equipment Reliability
(formally Equipment Reliability Suite). Hitachi Energy reports that 35% of its APM customer base is on-premises, with 65% on public cloud/hosted. The products support the
following standards: ISO 55000, ISO 55001, PAS 55, INPO AP-913 (equipment reliability), NRC 10 CFR 50.65 (maintenance rule). Lumada APM is available either on-premises or
in the cloud, and can be delivered as a SaaS solution. Licensing model options were not reported.

Hitachi Energy declined to report the number of new APM customers since January 2021 and has noted the following publicly shareable APM customers: AEP, Ameren, Duke
Energy, EDF, FirstEnergy, IMEPRI, Portland General Electric (PGE), Tennessee Valley Authority.

Prepackaged Interfaces:

• EAM: Hitachi Energy (Lumada EAM, Ellipse EAM, and Asset Suite EAM), IBM Maximo, IPS, SAP

• GIS: Not Reported

• AIP: Copperleaf

Systems Integrators: Not reported

Honeywell
Honeywell is a publicly held process solutions, automation, control, instrumentation and services conglomerate headquartered in North Carolina, U.S. The majority of its APM
customers are located in the Middle East, North America and Western Europe, with a small presence in most regions globally, with clients in a range of industries. Honeywell
offers its Honeywell Forge Asset Performance Management product suite which includes modules: Health, Predict, Optimize and Excellence. Honeywell reports 70% of product
deployments are on-premises and 30% cloud (majority public cloud). License options are based on sites, with pricing based by industry, and production volume.

Honeywell reports 12 new APM customers since January 2021 and has provided the following list of publicly shareable APM customers: ADNOC, Alcoa, Anglo American,
Butachimie, Codelco, Lundin Energy, Shell.

Prepackaged Interfaces:

• EAM: SAP

• GIS: None reported

• AIP: None reported

Systems Integrators: Honeywell Global Engineering Services

IBM

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IBM is a publicly held global technology and consulting corporation with headquarters in Armonk, New York, U.S. The majority of IBM Maximo APM customers are located in
North America, Western Europe and Japan, with presence in all regions globally. IBM offers its Maximo APM portfolio of modules within the Maximo Application Suite. The suite
leverages Cloud Paks to provide data integration and augment application-level capabilities. The Maximo Application Suite can be deployed on-premises or on any cloud using
the Red Hat OpenShift. APM Modules include Maximo Monitor, Maximo Health, Maximo Predict, Maximo Assist and Maximo Mobile, as well as Maximo Visual Inspection and
industry solutions, such as Health & Predict — Utilities. Maximo Application Suite provides a complete set of integrated modules and can be deployed separately. The products
are deployed in a range of asset-intensive industries. IBM reports that 75% of its APM customer base is on-premises, with 25% on cloud/hosted (most are based on number of
assets and user seat licenses). IBM reports product support for the following standards: ISO 55000, ISO 55001, PAS 55 and ISO 14224.

IBM declined to report the number of new APM customers since January 2021 and has noted the following publicly shareable APM customers: ELES, General Motors, Oncor,
Red Eléctrica, Sandvik, Sund & Bælt, United States Army, Waternet.

Prepackaged Interfaces:

• EAM: IBM (MAS Manage), Oracle, SAP EAM

• GIS: Esri

• AIP: None

Systems Integrators: Accenture, Capgemini, Deloitte, EY, HCL, IBM Services, Infosys, Wipro

IPS
IPS is a privately held software company headquartered in Germany. The company’s APM product, IPS SYSTEMS Asset Performance Management, is part of the IPS SYSTEMS
platform. The APM product is primarily deployed in the utility sector, with a majority of the company’s APM clients located in Western Europe, Middle East, Australia, Asia and
North America. IPS reports 75% of deployments are on-premises, with 25% private cloud. The product is aligned with ISO 55000 and PAS 55, Common Information Model IEC
61970, IEC 61968, VDE V 0109-1 and VDE V 0109-2 standards. IPS reports support of various license types, including perpetual and subscription models, named, or concurrent
licensing. As well site or enterprise licensing is available.

IPS reports six new APM customers since January 2021 and has noted the following publicly shareable APM customers: ESB, Tenaga Nasional Berhad (TNB) Malaysia TSO and
TNB Malaysia DSO.

Prepackaged Interfaces:

• EAM: Hitachi Energy (Ability Ellipse EAM, Asset Suite EAM), IBM Maximo, IPS EAM, SAP

• GIS: Esri, GE Smallworld

• AIP: Copperleaf

Systems Integrators: Accenture, Atos, Hatch, Schneider Electric, Siemens Energy, Siemens OMNETRIC and Wipro

Schneider Electric
Schneider Electric is a publicly held digital automation and energy management multinational company

headquartered in France. The majority of APM customers are located in North America, China and Western Europe, with a smaller presence in several other regions. Their
clients span a range of industries. Schneider Electric offers EcoStruxure Asset Advisor for electrical distribution; EcoStruxure Asset Advisor for Secure Power and Cooling, and
EcoStruxure Grid Asset Advisor, focusing on the utility electrical transmission and distribution market.

Schneider Electric reports that 100% of product deployments are public cloud. License options are offered in the subscription model based on asset counts.

Schneider Electric reports 110 new APM customers since January 2021 and has declined to provide a list of publicly shareable APM customers.

Prepackaged Interfaces:

• EAM: IBM Maximo

• GIS: Esri

• AIP: None reported

Systems Integrators: None reported

Siemens
Siemens is a publicly held global industrial conglomerate headquartered in Germany. The majority of its APM customers are located in Western Europe, North America and the
Middle East, with clients spanning a range of industries. Siemens provides its APM capabilities through both its MindSphere IoT-as-a-service solution, which delivers an
integration of other third-party products and through the Siemens Omnivise Digital Services Portfolio. Siemens acquired Senseye in June 2022, which includes the Senseye PdM
offering. Siemens also offers several APM ecosystem products across different divisions, which interface with the MindSphere and Omnivise Digital Services Portfolio.

Siemens did not report the number of new APM customers since January 2021 or provide a list of publicly shareable APM customers.

Prepackaged Interfaces:

• EAM: Oracle, SAP

• GIS: Not reported

• AIP: Not reported

Systems Integrators: Atos, Bentley, Chemtech, Deloitte, Hint, IT Vizion, Software AG, TCS

Market Recommendations
Not all the components of these solutions will be needed by organizations, and the products may lack depth in specific areas. More specifically, when evaluating APM options,
CIOs should work closely with OT stakeholders on the following action items:

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• Any need to develop or enhance a Strategic Asset Management Plan that drives business capability planning that needs support from an APM solution(s).

• Not all organizations are mature enough to invest in APM. In some instances, there may be immature digitalization, work management or asset management processes;
significant data gaps and inconsistencies; or no standard asset system of record (EAM/CMMS). In these situations, the better investment may be to upgrade or consolidate
the existing EAM system footprint and/or invest in data management and cleansing.

• The vendor and product have proven capabilities for your desired asset maintenance activities, classes of assets or your industry,APM is not a work execution system and,
therefore, depends on EAM/computerized maintenance management system (CMMS) to action its recommendations and provide tracking of the results. (For more detail on
the scope of EAM and APM, please see these companion research documents: Quick Answer: What Is the Scope of EAM in Maintenance and Reliability Technology? and
Quick Answer: What Is the Scope of APM in Maintenance and Reliability Technology?)

• You need sufficient, secure, sustainable, relevant and curated time series OT data. If the data doesn’t exist or is not accessible, then invest in deploying sensors and process
data management infrastructure before embarking on an APM project. Ensure you have a documented, secure and stable basis for OT data architecture.

• Invest in asset models (as a precursor to digital twins) by asset class that describe the asset life cycle and measurement needs.

Evidence
Gartner received vendor briefings and associated material from 22 APM vendors (most have global reach, but some are only regional) from January through May 2022. Gartner
also surveyed secondary research sources for information on market trends and vendor activity.

Gartner analysts acquired insights from several hundred asset-intensive companies for selecting an APM system through the Gartner inquiry process. These provided
directional support for opinions derived from earlier data.

Note 1: Related Asset Management Systems

The same asset life cycle is found in the ISO 55000 suite of standards that sets out asset management and asset management systems in three parts:

• ISO 55000 sets out the fundamentals from maintenance to value creation.

• ISO 55001 sets out the asset management systems with a series of compliance statements.

• ISO 55002 sets out some general guidance.

Note 2: Representative Vendor Selection

For this Market Guide, we evaluated the most prominent APM products for large-scale, asset-intensive industries worldwide, based on industry relevance, client interest and
customer base. Software products must address most functional capabilities listed in Figure 5. APM products must demonstrate that they are native (their own IP) and stand-
alone products (able to be sold and deployed separately to other software) offered by the vendor and should be able to demonstrably integrate with multiple EAM products.
They should have a proven track record in asset-intensive organizations, and they should cover multiple geographies and industries. There are many other vendors in this
category that were not evaluated or included, either because of the inclusion criteria, or information was not available at the time of assessment and publication.

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