GE Digital recently announced that the Verdantix Buyer’s Guide to Asset Performance Management (APM) Software has recognized GE Digital as a leader in the competitive field with a focus on customer success.
The report from Verdantix, an independent industry analyst firm, provides executives at industrial facilities responsible for performance and maintenance optimization with an up-to-date analysis of 27 prominent APM solutions.
The report also notes that the APM solutions market is currently sized at $2.7 billion and has a promising forecast – it is expected to grow by 12 percent year over year to $4.4 billion in 2025.1
According to Verdantix, there are four main functionalities that best constitute a holistic APM offering: Asset Health Monitoring, Asset Failure Prediction, Maintenance Optimization, and Performance Optimization.
GE Digital was found to have a comprehensive, cross-industry capability for each category.
GE Digital achieved perfect scores of 3.0/3.0 for asset health monitoring and asset failure prediction functionality in the 2020 Verdantix APM Green Quadrant. This is provided by the full APM suite of software.
The report acknowledges GE Digital’s Industrial Managed Services (IMS) as ensuring customers can capitalize on the long-term value of their APM solution with training, process development, and asset monitoring through Digital Twin technology.
GE Digital’s IMS centers worldwide monitor more than 8,000 customer assets and have saved industrial companies a total of $1.5B+ USD in avoided costs. By managing the software and analytics, and providing expert services, IMS experts augment and expand a company’s digital capabilities and Operations & Maintenance (O&M) staff.
“GE Digital is a protagonist in its core vision to connect asset reliability with financial performance metrics and is supported by its well-founded subject matter expertise and comprehensive implementation program,” said Victor Voulgaropoulos, industry analyst for Verdantix.