Taking Industrial Asset Management to the Next Level

Industrial asset management in India is at a pivotal point. Companies are under pressure to maximize uptime, reduce operational costs, and comply with safety and ESG standards—all while managing aging assets. Traditional reactive or time-based maintenance often results in:

• Unplanned downtime
• Increased repair costs
• Decreased equipment lifespan
• Inefficient resource use

According to McKinsey, global maintenance-related inefficiencies cost industries approximately ₹72,54,000 crore per year (about $848* billion). This includes lost production, unnecessary maintenance, and energy waste.

Asset Performance Management (APM) integrates technology, data, and expert insights to optimize asset reliability and performance. With real-time monitoring, predictive analytics, and risk-based decision-making, APM shifts maintenance from reactive to predictive. Companies like Adaptive Engineering are empowering industries with smart solutions that leverage AI, machine learning, and IoT sensors to improve decision-making, reduce failures, and extend asset life.

India’s industrial asset management market is experiencing rapid growth, driven by digital transformation across manufacturing, infrastructure, and utilities.

 Source: Grand View Research – India Enterprise Asset Management Market

The Indian industrial asset management market is projected to grow at a CAGR of 18.6% from 2023 to 2030, with the fastest growth in cloud-based solutions.

Industries such as oil & gas, steel, power, pharma, and chemicals are adopting APM platforms for:

• Reducing downtime by 30–40%
• Lowering maintenance costs by 20–25%
• Increasing asset life by 15–20%

Leaders like NTPC, Reliance Industries, and Tata Steel are deploying APM as part of their Industry 4.0 roadmap.

• Aging Infrastructure: Many plants operate equipment over 30 years old.
• Unstructured Data: Isolated data and non-integrated systems hinder predictive maintenance.
• Shortage of Skilled Workforce: Difficulty in sourcing experienced reliability engineers.
• Compliance Requirements: Increasing ESG and safety regulations.
• Reactive Culture: Resistance to shift from breakdown-fix models to data-driven planning.

Adaptive Engineering leverages industry expertise and digital technology for a seamless APM transition:

• Third-Party Integrations
  Adaptive Engineering’s APM platform seamlessly integrates with existing SCADA, ERP, and IoT systems, enabling a unified data ecosystem. This interoperability ensures real-time data flow across platforms, enhancing decision-making and operational efficiency.
• Workorder Management
  The system automates the creation, assignment, and tracking of maintenance tasks, ensuring timely interventions. Features like QR code-based tags and customizable templates streamline workflows, reducing downtime and maintenance costs.
• Asset Information Management
  Adaptive’s solution centralizes asset data, providing a comprehensive view of each asset’s lifecycle. This structured approach facilitates predictive maintenance and informed decision-making by leveraging machine learning and analytics.

• Asset Team Management
  The platform supports hierarchical team structures, offering role-based dashboards for strategic, managerial, and operational levels. This ensures that each team has access to relevant information, promoting collaboration and swift issue resolution.
• Maintenance Management
  Adaptive’s APM enables condition-based maintenance strategies, automating scheduling based on asset usage and condition. The system supports detailed SOPs, audit trails, and performance metrics like MTBF and MTTR, optimizing maintenance operations.
• Inventory Management
  The solution offers real-time tracking of spare parts and consumables, ensuring optimal stock levels. By integrating with maintenance schedules, it prevents delays due to inventory shortages, enhancing operational continuity.
• Implementation Services
  Adaptive provides end-to-end implementation support, from system design to commissioning. Their expertise ensures that the APM solution aligns with organizational goals and integrates smoothly with existing processes.
• Analytics, Dashboard & Report
  The platform features intuitive dashboards and advanced analytics tools, offering insights into asset performance, maintenance efficiency, and operational trends. These visualizations aid in proactive decision-making and continuous improvement.

Industrial asset management is no longer just a support function. It has emerged as a critical driver of operational excellence, safety, and long-term profitability. As industries face increasing pressure to minimize downtime, optimize resources, and meet stringent safety and compliance standards, effective asset management has become central to achieving these goals.

Adaptive Engineering, with its forward-thinking and data-first Asset Performance Management (APM) approach, is at the forefront of this transformation. By integrating advanced data analytics, real-time monitoring, and predictive maintenance strategies, Adaptive Engineering is helping Indian industries move beyond the limitations of reactive maintenance.

Through its innovative solutions, Adaptive Engineering is building a future-ready ecosystem that enables industries across India to stay competitive, agile, and resilient in an increasingly complex industrial environment.

*($1 = ₹85.63)

• Grand View Research – India Enterprise Asset Management Market
• Mordor Intelligence – India Asset Management Market