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Asset Lifecycle Management (ALM)

The objective of Asset Lifecycle Management (ALM) is to optimize the profit generated by assets over the course of their lifecycle. ALM integrates processes and technologies in order to manage asset portfolios, execute projects, and facilitate efficient asset management practices. Whereas Asset Health Management (AHM) deals with monitoring and optimizing the health the asset in real time, ALM extends across the lifecycle of the asset from design, to procurement, commissioning, operations, maintenance, and decommissioning. IoT technologies enable superior visibility, forecasting, and feedback loops across the ALM process. 

 

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  • INDUSTRIES
  • Transportation
  • FUNCTIONS
  • Maintenance
    Quality Assurance
  • CASE STUDIES
  • General Electric (GE): E.ON Gets Faster, Lower Cost Cycles with OpFlex Solutions
    E.ON's plants ran 4000+ hours per year, now see fewer than 1000+ hours of profitable operation. E.ON needed a fast, reliable and low-cost cycle plants.
    Simbe Robotics: The Retail Shelf-Auditing Robot
    Full-store audits involve making sure that items are in stock, in the right place, and marked at the correct price. These tasks must be repeated over and over, typically take several hours to complete, and tend to be very inaccurate when done by humans.
    IOTA: The Mathematical Functions of IOTA
    The rise and success of Bitcoin during the last six years proved that blockchain technology has real-world value. However, this technology also has a number of drawbacks that prevent it from being used as a generic platform for cryptocurrencies across the globe. One notable drawback is the concept of a transaction fee for transactions of any value. The importance of micropayments will increase in the rapidly developing IoT industry, and paying a fee that is larger than the amount of value being transferred is not logical. Furthermore, it is not easy to get rid of fees in the blockchain infrastructure since they serve as an incentive for the creators of blocks.
  • MARKET SIZE
  • The Application Lifecycle Management (ALM) market is expected to grow from USD 2.58 Billion in 2017 to USD 3.63 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period. 

    Source: PRNewswire

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