IBM today announced the acquisition of Prescinto, a leading provider of asset performance management (APM) software-as-a-service (SaaS) for renewables. Prescinto’s AI-powered capabilities will significantly enhance IBM Maximo Application Suite (MAS), IBM’s comprehensive asset lifecycle management solution.
As organizations increasingly adopt renewable energy sources like wind, solar, and energy storage, effective asset management becomes crucial for optimizing performance and reducing costs. Prescinto’s technology enables organizations to monitor, analyze, and automate the management of these complex assets.
Key Benefits of the Acquisition:
- Enhanced APM Capabilities: Prescinto’s expertise in renewable energy asset management will strengthen IBM MAS’s capabilities, providing clients with a more comprehensive solution.
- AI-Powered Insights: Prescinto’s AI-driven analytics will help organizations identify potential issues early, optimize operations, and reduce downtime.
- Increased Efficiency: By streamlining asset management processes, Prescinto’s solutions can help organizations improve operational efficiency and reduce costs.
- Sustainability Goals: The acquisition aligns with IBM’s commitment to helping clients achieve their sustainability goals and reduce their carbon footprint.
Market Growth:
The global utilities asset management market is expected to grow from $4.3 billion in 2022 to $12.4 billion by 2031, according to Allied Market Research. This growth is driven by the increasing adoption of renewable energy sources and the need for efficient asset management solutions.
IBM’s Leadership in Asset Management:
IBM has been recognized as a leader in both Enterprise Asset Management (EAM) and Asset Performance Management (APM) by the independent research firm Verdantix. This acquisition further solidifies IBM’s position as a leading provider of asset lifecycle management solutions.
The acquisition of Prescinto is a strategic move by IBM to strengthen its offerings in the renewable energy sector. By combining IBM MAS’s comprehensive asset management capabilities with Prescinto’s expertise in renewable energy, IBM is well-positioned to help clients optimize their operations, reduce costs, and achieve their sustainability goals.
Note: We are also on WhatsApp, LinkedIn, and YouTube, to get the latest news updates, Join our Channels. WhatsApp– Click here, and for LinkedIn– Click Here
