Market Overview
The Plant Information Management Systems (PIMS) market is a rapidly growing segment within the broader industrial automation and control systems market. PIMS is a software application that helps manage data and information related to the operation and maintenance of industrial plants, including manufacturing facilities , chemical plants, power plants, and other types of process industries. According to our research, rising demand for automation and digitalization are the key factors leading to the growth of the plant information management systems market. Automation and digitalization are becoming increasingly important in industrial processes. PIMS solutions enable automation of plant data management and analysis processes, increasing efficiency, reducing errors and increasing productivity. According to the report, the global process automation and instrumentation industry was valued at more than US$68 billion in 2020. Key Trends in
the Plant Information Management System Market
ABB ABB recently announced ABB Ability Performance Optimization for the ABB Ability System 800xA. This is a PIMS solution that uses artificial intelligence and machine learning to optimize plant operations. Siemens:
Siemens recently announced Simatic PCS neo, a cloud-based PIMS solution that uses digital twin technology to optimize plant performance.
Plant Information Management Systems Market Growth Factors
According to our research, increasing pressure to predictive optimize plant efficiency, need for maintenance, and increasing demand for operational intelligence are the key factors driving market growth. There is. If your company has assets under warranty or useful assets, you can save money by paying for unnecessary repairs. According to a study by ServiceChannel, companies lose nearly 35% of their potential warranty savings by paying to repair equipment under warranty. These defaults can be managed using asset management software. Oil and gas are high-performance assets that are traded internationally and used in multiple industries. Manually all activities in this transaction, from procurement to sales, becomes complex. Asset tracking software plays an important role here and slightly can reduce operating costs.
Source: Plant information management system market survey
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