IDC: Industrial equipment management market is flourishing, and the future of intelligent operation and maintenance is promising.

Recently, the international data company (IDC) released a report titled "China Equipment IoT Management and Intelligent Maintenance Market Share, 2023: Flourishing Flowers." Against the backdrop of an insufficiently robust industrial economy, based on factors such as the enhancement of enterprise data foundations, policy-guided equipment updates, replacement of traditional EAM-related functionalities, and replication of predictive maintenance in vertical industries, IDC predicts that the Chinese equipment IoT management and intelligent maintenance market is expected to maintain a compound growth rate of around 9% over the next 5 years, higher than many other production management applications. IDC's research manager in China, Cui Can, stated that the equipment management market is evolving with the integration of AIOT technology and platform technology architecture, showing a convergence and expansion of product functionalities at the level of market structure, which will continue to change. In the field of equipment and asset management, various concepts and systems have gradually emerged in both domestic and international markets, such as EAM, PHM, CMMS, APM, EHM, ALM, FSM, and equipment management modules of MES/MOM, which continue to evolve and develop with some common functionalities among different system products, but also some differences in user positioning, functional scope, etc. IDC categorizes the above-mentioned systems as the asset full-lifecycle management market and, from the perspective of business positioning and functional coverage, broadly divides them into 3 categories: enterprise asset management systems, production equipment monitoring and maintenance systems, and key equipment fault diagnosis and health management systems. In the Chinese market, the functionalities of the latter two are increasingly converging, with suppliers simultaneously laying out, merging, and conducting research in the equipment IoT management and intelligent maintenance market. In 2023, the Chinese equipment IoT management and intelligent maintenance market will reach 4.3 billion RMB, still in a relatively fragmented state, with various suppliers from different backgrounds participating, such as IBM, DHC Software, Business-intelligence Of Oriental Nations Corporation, Bohua Technology, Inforchain Technology, Tianze Smart Cloud, Anhui Ronds Science & Technology Incorporated, Kunlun Data, Langkun Wisdom, Shugen Internet, Great Eastern Intelligence, Hand, Cloudwave, Shuocheng Technology, Aerospace Intelligent Control, Lanzhuo, Saiyi, etc. (in no particular order, listed in alphabetical order). Suppliers with deep accumulations in certain industries have currently taken a leading position in the market, and most leading suppliers have clear industry focuses. Different types of industries show significant market differences. Asset-intensive process industries and energy industries have started earlier and have a larger share in the market, with some industries having scaled up the application of key equipment fault prediction. Vendors focusing on these industries have also achieved market-leading revenues earlier. Some equipment management functions in discrete industries are built into MES/MOM, and there is also a growing demand for independent equipment management system construction. With the continuous integration of IoT and AI technologies, the functionalities of equipment management systems continue to expand and become smarter. For example, Langkun Wisdom's equipment full-lifecycle management system not only covers the entire process from procurement to scrapping for equipment users but also extends upstream to equipment manufacturers' design, production, manufacturing, delivery, and equipment technical service providers' leasing and maintenance processes; Great Eastern Intelligence's PreMaint equipment intelligent engineering platform not only includes functionalities in equipment management, operations, and predictive maintenance but also includes intelligent features such as operating control algorithms, the large-scale conversational assistant "Xiao Luban." At the same time, equipment management systems are also evolving towards platform-based architectures, such as Lanzhuo, which has implemented equipment management-related functionalities based on the "platform + APP" model on the supOS operating system, with many MOM suppliers providing equipment management modules on the same platform.