Imagine a world where your infrastructure projects not only meet expectations but consistently surpass them. Sounds like a dream, right? Well, asset management solutions are a new reality in this paradigm shift that could be a boon for your organization.

According to Kings Research’s report, the Global Infrastructure Asset Management Market is expected to reach a valuation of USD 76.48 Billion by 2030, growing at a CAGR of 13.17% from 2023 to 2030.

So, let's dive into the IAM realm and discover the essential insights that can redefine your approach to asset and project management.

Infrastructure Asset Management: To Prioritize and Optimize Assets

In layman’s terms, infrastructure asset management is a method that aims to optimize public infrastructure maintenance plans by ensuring maximum performance for each resource in terms of efficiency, durability, safety, functionality, and sustainability. It includes public infrastructure assets such as bridges, rivers, electric grids, ports, mass transport systems, railways, highways, waste systems, and water supplies.

This process typically focuses on infrastructure maintenance, rehabilitation, and replacement to extend the service life and improve the quality of existing infrastructure.

Infrastructure asset management is more than just a simple maintenance process. It is an integrated and multidisciplinary collection of operations aimed at preserving and extending public infrastructures on the territory to provide users with more adequate services.

How Can Infrastructure Asset Management Maximize the Value of Projects?

Infrastructure asset management enables professionals to plan and manage all parts of the life cycle of an infrastructure asset in a more systematic, rational, and proactive manner. This would also reduce the negative consequences of poor resource management.

A properly executed IAM technique allows you to:

• Enhance asset management and maintenance practices
• Maximize the estimated functional life of infrastructures
• Continually analyze resources via on-site data collection
• Reduce the frequency with which problems and unexpected events can occur
• Avoid sudden and prolonged service interruptions
• Contain the costs and time required for maintenance operations
• Monitor the gained results

Top 5 Infrastructure Asset Management Software to Enhance Efficiency and Productivity

Here are the top 5 infrastructure asset management software that businesses  are investing in :

1. The IBM Maximo™

IBM Maximo Application Suite revolutionizes asset management by integrating CMMS/EAM and Asset Performance Management (APM) solutions into a hybrid-cloud-based platform.

This integrated suite offers:

• Clients 360-degree operational visibility
• Faster ROI
• Increased productivity
• Broader range of deployment options

Maximo is used by the largest companies globally, including oil & gas providers, utilities, and automakers. By combining IBM Maximo with IoT data, clients can reduce downtime, increase operational efficiency, and improve asset usage, extend equipment's useful life, and defer new purchases.

2. Oracle Primavera Unifier

Oracle’s Primavera Unifier is an asset and project management for infrastructure that implements effective strategies to enhance visibility and productivity. It utilizes extensive customization options and pre-existing workflows for promptly automating various business processes.

This solution has the ability to model programs, portfolios, facilities, and assets using multi-level hierarchies. It can be deployed both on cloud and on-premises. It also provides user-friendly collaboration tools.

Oracle Primavera Unifier offers:

• Unparalleled flexibility and control to automate simple or complex processes while maintaining data ownership
• Comprehensive solutions along the entire project lifecycle, from planning to asset management
• Exceptional cost control capabilities
• Complete analysis for earned value management
• Instant access to real-time insights for fast, accurate decision-making
• Simple monitoring, visualization, and adjustment of plans based on financial projections

3. Cartegraph Asset Management

Cartegraph Asset Management is a powerful tool for managing infrastructure assets, including pavement, water utilities, parks, and facilities. It optimizes performance, captures resource usage, manages requests, monitors performance, and reduces operating costs through smarter, data-driven decisions.

Cartegraph integrates with GIS, 311, and fuel systems, allowing for efficient work, resource management, request management, property portfolio management, and capital improvement planning. By utilizing this software, cities, counties, universities, and school districts can optimize their infrastructure assets and drive high-performance operations.

4. Brightly Asset Essentials

Brightly Software’s Asset Essentials is a next-gen infrastructure and enterprise asset management platform designed for smarter and more efficient maintenance & operations. A Siemens company, Brightly is the global leader in intelligent asset management solutions, managing over 49 million assets and 386 million work orders.

This user-friendly platform allows firms to cut maintenance costs, boost productivity, and make informed operations decisions.

Asset Essentials allows users to:

• Initiate, assign, and track the progress of existing maintenance work orders
• Create advanced workflows with preventive maintenance
• Set and monitor asset thresholds with predictive maintenance

The free mobile application enables technicians to capture parts transactions and issue work orders swiftly, while the solution also streamlines maintenance. Asset Essentials integrates within your software ecosystem seamlessly via open APIs and other Brightly products, offering a 360° view of your operations.

5. HxGN EAM

Lastly, HxGN EAM stands as the highest-rated asset management solution globally, uniquely equipped to optimize asset performance while effectively addressing risks and sustainability concerns. This comprehensive software incorporates cutting-edge features such as advanced analytics, immersive visualization, modern mobility, and a robust asset performance management engine. By harnessing these capabilities, users can streamline work processes and enhance efficiency throughout the organization.

Following are some key capabilities of the software:

• Enhances the dependability and efficiency of resources
• Anticipates the occurrence of equipment breakdowns and implement proactive maintenance measures
• Adheres to stringent legal and environmental guidelines
• Simplifies the process of purchasing and procurement
• Monitors and minimizes expenses associated with labor while optimizing productivity

What is the Future Scope of Infrastructure Asset Management?

In the future, infrastructure asset management is going to be ubiquitous. With cutting-edge technology and data-driven solutions, organizations will unlock new levels of efficiency, cost-effectiveness, and sustainability. From advanced asset management software to real-time monitoring and predictive maintenance, the future holds boundless opportunities for optimizing infrastructure assets.

Collaboration and data sharing will be key, revolutionizing the way stakeholders communicate and work together. Infrastructure asset management could potentially transform and redefine the way we build, manage, and maintain our critical infrastructure for building a more resilient future.