The landscape of asset management is changing. The servitization movement pushes companies out of their comfort zone to consider their offerings in a new way. Additionally, smart technologies enable organizations to unlock the power of data and improve the efficiency of assets while minimizing downtime. These changes are already affecting how assets are seen and shape the future of asset management. Asset management is crucial for the success of a business as it enables companies to manage their assets systematically which results in enhanced productivity and better ROI.
In efforts to understand the current situation in asset management and trends that will be relevant in 2020, I conducted in-depth qualitative research with asset managers from asset-intensive industries such as manufacturing, utilities, telco and energy. My intention was to understand how companies are adapting to the disruptions in the industry and what potential trends can arise from their efforts to stay competitive. The research showed a shift towards more sophisticated asset management systems such as EAM and IoT-enabled APM and EAM systems, albeit at the beginning stage. Correspondingly, there were more efforts to increase connectivity and usage of mobile devices for daily maintenance operations.
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