IDC MarketScape Names GE Digital a Leader in Four Worldwide Asset Performance Management Vendor Assessments
16 January 2021 - 7:08AM
Business Wire
- GE Digital’s APM recognized for leadership
in capabilities across Oil & Gas, Utilities, Mining, and
Manufacturing industries
- Reports show that as demand for operational
asset optimization strategies increases around the world, APM
software and services have become more valuable
- GE Digital’s focus on customer intimacy
seen as an important differentiator
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
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210115005548/en/
Rachael Van Reen GE Digital Rachael.VanReen@ge.com
GE Aerospace (NYSE:GE)
Historical Stock Chart
From Mar 2024 to Apr 2024
GE Aerospace (NYSE:GE)
Historical Stock Chart
From Apr 2023 to Apr 2024