SAN RAMON, Calif.--(BUSINESS WIRE)--GE Digital today announced that it has been recognized by IDC’s new Worldwide Asset Performance Management 2020-2021 MarketScapes: Oil & Gas, Utilities, Mining, and Manufacturing. GE Digital’s Asset Performance Management (APM) is a suite of software and service solutions designed to help optimize the performance of assets for industrial companies. APM connects disparate data sources and uses advanced analytics and Digital Twin technology to turn data into actionable insights while fostering collaboration and knowledge management across an organization.
In both the Oil & Gas and Manufacturing industries, the report cites GE Digital’s scale and experience as a leadership strength, saying that this is a key consideration for customers looking for industry expertise in APM solutions that can scale beyond pilots and proofs of concept (POCs). Additionally, IDC pointed to the user interface (UI) of the GE Digital APM solution as an advantage. With increasing focus on digital twin development and delivery, this strength is poised to continue to advance for GE Digital, the report notes.
Across all four of the industries studied in this MarketScape cycle, IDC believes that GE Digital’s focus on customer intimacy and willingness to listen to customer suggestions and incorporate them into the product road map, coupled with agile development cycles to implement new requirements, is important in the future, and an important differentiator.
In the Utilities industry, versatility of GE Digital’s APM products was cited as a solution strength, as the software is used by customers of different sizes across various geographies for all types of assets. Customers further noted that they are able to grow their implementation based on their current needs due to the solution’s modularity. And, because the GE Digital Utility adjacent portfolio is broad and goes beyond APM, it meets the varied needs of the industry; Advanced Distribution Management Systems (ADMS), Energy Management Systems (EMS), Geographic Information Systems (GIS), remote operations, control, and vegetation management are complementary products. And, IDC noted that GE Digital’s commitment to multiyear support is key in this utility sector where solution longevity is considered extremely important.
“We appreciate the recognition of GE Digital as an APM leader, reflecting our commitment to meeting the needs of companies in the industries we serve,” said Pat Byrne, CEO of GE Digital. “Our goal is to bring simplicity, speed, and scale to our customers’ digital transformation initiatives with software that helps them to better run their business operations. To be recognized as a company that pays attention to customer needs affirms our purpose: transforming how our customers solve their toughest challenges by putting industrial data to work.”
The capabilities of GE Digital’s APM offering, according to the Mining industry MarketScape, are considered as a key strength as they encompass the entire requirement for the solution including prescriptive maintenance recommendations. This is supplemented and enhanced by the solution’s existing library of mining-specific asset models. Broad experience in the industry, has enabled GE Digital to develop its offering and improve it over the years, the report says.
“A strategic approach to APM is to provide industries including Oil and Gas, Utilities, Mining and Manufacturing with a condition-based approach to managing, optimizing, and maintaining assets that can ultimately result in operational efficiency gains, increased asset performance, and cost savings on maintenance and labor costs,” said Kevin Prouty, IDC Group Vice President, Energy and Manufacturing Insights. “When selecting a vendor, evaluate industry specific domain knowledge and capabilities and consider an APM offering with existing or future-road-map digital twin capabilities.”
More information about GE Digital’s Asset Performance Management solutions can be found here.
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
About GE Digital
GE Digital is transforming how industry solves its toughest challenges. GE Digital’s mission is to bring simplicity, speed and scale to its customers’ digital transformation activities, with software that helps them to better operate, analyze and optimize their business processes. GE Digital’s product portfolio – including grid optimization and analytics, asset and operations performance management, and manufacturing operations and automation – helps industrial companies in the utility, power generation, oil & gas, aviation, and manufacturing sectors put their industrial data to work. For more information, visit www.ge.com/digital.
Source Material:
IDC MarketScape: Worldwide Oil and Gas Asset Performance Management 2020-2021 Vendor Assessment, Doc #EUR147032820, Dec 2020
IDC MarketScape: Worldwide Utilities Asset Performance Management 2020–2021 Vendor Assessment, Doc #US46211820, Dec 2020
IDC MarketScape: Worldwide Mining Asset Performance Management 2020 Vendor Assessment, Doc #US46211620, Dec 2020
IDC MarketScape: Worldwide Manufacturing Asset Performance Management 2020–2021 Vendor Assessment, Doc # US47031020, Dec 2020
