New Productive Report on Plant Asset Management (PAM) System Market to Grow with Massive CAGR of over 12% by 2025: ABB, Honeywell, Siemens, GE Digital, IBM, IFS, SAP

Pune, India -- (SBWIRE) -- 03/06/2019 -- A Plant Asset Management (PAM) system is a combination of hardware, software, and services used by an industry to monitor and to inspect asset status. The Plant Asset Management (PAM) system determines and predicts the asset state based on data embedded in various sensors installed in smart field devices, control systems and assets to predict the necessary precautionary measures to reduce potential asset failures and risks. The rapidly growing worldwide demand for real-time data analysis is expected to be one of PAM's core growth drivers during the study period.