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Asset Lifecycle Management

An asset lifecycle is the series of stages involved in the management of an asset. It starts with the planning stages when the need for an asset is identified and continues all the way through its useful life and eventual disposal. The basic premise of asset lifecycle management is to extend your assets’ usability as far as you can, without losing any functionality, thereby decreasing total lifetime costs and increasing the economic value-add of the asset. For example, when maintenance is neglected, companies have to struggle with the resulting unexpected breakdowns, long delays, and costly emergency maintenance. Proper asset lifecycle management can improve the process of maintaining and managing valuable assets.

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  • INDUSTRIES
  • Transportation
  • FUNCTIONS
  • Maintenance
    Quality Assurance
  • CASE STUDIES
  • General Electric: 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.
    General Electric: Filament | Woking Toward Industrial Blockchain
    These are serious concerns, especially if blockchains are to usher in the kind of post-industrial revolution that its advocates are predicting. Most of us can’t even protect our passwords, much less our private keys; the idea of integrating a corporation with thousands of employees with a high-tech blockchain seems about as realistic as training a cow to trade derivatives.
    General Electric: Water Treatment Energy Management
    Water pumping, treatment and conveyance are among the largest energy and cost outlays for many local and regional municipalities. Electricity time-of-use rates and peak pricing tariffs are driving those costs even higher. This case study describes how Monterey Regional Water Pollution Control Agency (MRWPCA) implemented a process data monitoring and control solution in order to analyze and optimize energy use, reduce deployment costs and save operational expenses.
  • 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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