Asset Performance Management Market Size - By Component, By Deployment Model, By Organization Size, By End Use, By Application, Analysis, Share, Growth Forecast, 2025 - 2034
Report ID: GMI13166
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Published Date: February 2025
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Report Format: PDF
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Base Year: 2024
Companies covered: 20
Tables & Figures: 200
Countries covered: 21
Pages: 180
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Asset Performance Management Market
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Asset Performance Management Market Size
The global asset performance management market was valued at USD 3.6 billion in 2024 and is projected to grow at a CAGR of 10.7% between 2025 and 2034. Growth in the use of predictive maintenance and IoT technologies will be the growth driver for this market. Predictive maintenance helps organizations keep a check on the real-time condition of their assets and foresee possible failures before they occur. As per a Statista report, it is forecast that the total revenues of the worldwide Internet of Things (IoT) market would grow rapidly by USD 1,059.0 billion by 2025.
Such approach helps prevent downtime, cuts costs of maintenance and prolongs life of asset. IoT sensors, and also all the gadgets integrate into data collected from machine and equipment on time. With these technologies, companies can collect real-time data, analyze it using advanced algorithms, and make informed decisions to improve asset performance.
The asset performance management market trends that demand both operational efficiency and cost savings significantly contribute to industry developments. Business operations now dedicate their resources to develop optimized business models that optimize production while maintaining low operational expenses.
In September 2023 the company collaborated with SAP as a German solution provider to create an asset performance management solution on their Cumulocity IoT platform. These solutions assist organizations in achieving their goals by offering real-time monitoring and analytics to ensure optimal asset performance. By pinpointing inefficiencies, potential problems, and underperforming assets, companies can take proactive steps to minimize downtime and reduce maintenance expenses. This results in improved asset reliability, better resource allocation, and enhanced decision-making.
Asset Performance Management Market Trends
Asset Performance Management Market Analysis
Based on component, the asset performance management market is divided into hardware, software, and services. In 2024, the hardware segment represents USD 1.8 billion market revenue, while the software segment is expected to grow at a CAGR of approximately 12% by 2034.
Based on deployment model, the asset performance management market is divided into on-premises and cloud-based. The cloud segment captured around 60% of the market share in 2024 and is projected to maintain its lead with around 11% compound annual growth rate (CAGR) from 2025 to 2034.
Based on the end use, the asset performance management market is divided into manufacturing, transportation, chemical and pharmaceutical, oil & gas, energy & utility, mining, and others. The manufacturing sector leads the market due to the increasing demand for operational efficiency and asset optimization.
North America dominates the global asset performance management market with a share of around 35% and U.S. leads the market in the region generating revenue of USD 947.9 million in 2024.
The asset performance management market in Germany is projected to experience significant growth from 2025 to 2034.
Asset performance management market in China will show substantial market expansion throughout the period spanning from 2025 to 2034.
Asset Performance Management Market Share
Asset Performance Management Market Companies
Major players operating in the asset performance management industry are:
In order to reinforce their leadership and drive-up market share, companies operating in the asset performance management (APM) market adopt specific strategies. APM firms require strategic partnership and merger activities to improve their technological capabilities, strengthen product offerings, and add more customers. These partnerships also help companies in integrating technologies such artificial intelligence, IoT, and machine learning into their solutions for enhanced functionalities like predictive maintenance, real-time asset monitoring, and data analytics.
The APM field is innovated according to the research and development (R&D) spending of firms. Businesses are formulating sophisticated automated asset management systems that improve productivity and reduce system idle time. APM companies concentrate on product and process automation to increase effectiveness, reliability, usability, and customer satisfaction and retention. In addition, they are diversifying into energy, manufacturing, and utilities, thus enabling them to cater to the specific needs of companies from different industries, whether big or small.
Asset Performance Management Industry News
The asset performance management market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn) from 2021 to 2034, for the following segments:
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Market, By Component
Market, By Deployment Model
Market, By Organization Size
Market, By End Use
Market, By Application
The above information is provided for the following regions and countries: