Asset Performance Management Market To Reach $47.18 Billion By 2030

Asset Performance Management Market Growth & Trends

The global asset performance management market size is expected to reach USD 47.18 billion by 2030, registering a CAGR of 12.2% from 2025 to 2030, according to a new study conducted by Grand View Research, Inc. The Asset Performance Management market has evolved during time in response to technological advancements and the changing needs of the incumbents in many end-use industries and sectors, particularly small and medium businesses.

The market for asset performance management is predicted to increase due to the growing usage of APM solutions to achieve operational excellence. Companies are becoming more capable of maximizing the use and upkeep of their operational assets, such as plants, equipment, and infrastructure. Heavy machinery, heavy equipment, turbine engines, power transformers, and other possessions are among the assets that firms adopting APM systems regularly monitor.

The market witnessed significant growth during the COVID-19 outbreak.  Growth in the adoption of the work-from-home model by organizations created the need for secure, scalable, reliable, and cost-effective off-premises and virtual technology services. Organizations from all sectors invested considerably in cloud computing solutions to facilitate their operations and engage clients and employees effortlessly. Thus, asset performance management provided several growth opportunities to marketers during the pandemic.

The asset performance management system includes various solutions such as asset strategy and risk management, predictive asset management, reliability-centered maintenance, and condition-based maintenance, among others. These have a high demand from end-use industries such as energy & utilities, mining & metal, oil & gas, and manufacturing. The manufacturing industry is expected to emerge as one of the prominent markets in terms of revenue during the forecast period. The APM systems, coupled with IIoT, and the increasing adoption of cloud solutions are expected to be crucial factors for the steady growth of the market. Moreover, cloud-based APM systems are enabling companies to manage their assets cost-effectively.

The energy & utilities industry segment holds the largest share owing to the high number of customers who are actively investing in APM systems to manage their assets. For instance, Tata Power, one of the largest power companies from India, is leveraging AVEVA Group plc.’s PRiSM Predictive Asset Analytics for equipment problems and early warning notifications. The APM system helped Tata Power to achieve improved reliability and performance of its critical assets. Additionally, the system contributed to control the maintenance costs by its predictive analysis.

Furthermore, the asset performance management market is highly competitive and fragmented, wherein few companies hold the maximum market share. Consistent dominance in the market by legacy companies can be attributed to investments in research and development of advanced cloud-based services, which has been one of the key factors driving their revenues. However, growth in the introduction of advanced cloud solutions and related offerings by start-ups is also creating significant traction in the global market.

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Asset Performance Management Market Report Highlights

• The asset reliability management segment dominated the market and accounted for the revenue share of over 33.0% in 2024. Asset reliability management solutions allow operators to identify errors in the equipment in advance and subsequently help them in making smarter and more economical decisions for the assets.

• The hosted segment is expected to grow at a significant CAGR over the forecast period. The segment is bifurcated into public cloud and private cloud.

• The energy & utilities segment dominated the market and accounted for a revenue share of over 18.0% in 2024. With aging infrastructure, energy and utilities companies are under increasing pressure to prevent equipment failures and ensure service continuity.

• Asia Pacific is anticipated to register the highest growth rate during the forecast period owing to the increasing popularity of social media, growing investments by tech giants in establishing IT infrastructures in this region, and the rising preference for e-commerce and m-commerce, particularly in emerging economies such as India, Indonesia, and Thailand

Asset Performance Management Market Segmentation

Grand View Research has segmented the global asset performance management market report based on category, deployment, vertical, and region:

Asset Performance Management Category Outlook (Revenue, USD Million, 2018 - 2030)

• Predictive Asset Management

• Asset Reliability Management

• Asset Strategy Management

• Others

Asset Performance Management Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• On-premise

• Hosted

  • Public Cloud

  • Private Cloud

Asset Performance Management Vertical Outlook (Revenue, USD Million, 2018 - 2030)

• Energy & Utilities

• Oil & Gas

• Manufacturing

• Metal & Mining

• Transportation

• Government & Public Sector

• Chemical & Pharmaceutical

• Others

Asset Performance Management Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East & Africa

  • UAE

  • Saudi Arabia

  • South Africa

List of Key Players in Asset Performance Management Market

• ABB

• Aspen Technology Inc

• AVEVA Group Limited

• Bentley Systems, Incorporated

• DNV GLAS

• GE Vernova

• IBM Corporation

• Rockwell Automation

• SAP SE

• SAS Institute, Inc.

• Siemens Energy