The global asset performance management market size reached USD 24.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 57.1 Billion by 2033, exhibiting a growth rate (CAGR) of 9.7% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 24.8 Billion |
Market Forecast in 2033
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USD 57.1 Billion |
Market Growth Rate (2025-2033) | 9.7% |
Asset performance management (APM) relies on pattern recognition, artificial intelligence (AI), machine learning (ML), and data capture, integration, visualization and analytics for improving the reliability and availability of physical assets. It assists in reducing unplanned downtime, maintenance costs, the total cost of ownership (TCO) for assets, plants, and environment, health, and safety (EH&S) threats. It also helps optimize asset performance, increase return on assets (ROA), and improve visibility of operations. As a result, APM finds extensive applications in the manufacturing, healthcare, information technology (IT), and telecommunications industries around the world.
The rising digital transformation of different industry verticals presently represents one of the key factors propelling the growth of the market. Besides this, businesses operating in the food and beverage (F&B) industry face numerous challenges in executing different production processes, maintaining various systems and equipment, and managing the supply chain, prices, and availability of incoming raw materials. Consequently, APM solutions are increasingly being utilized as they aid in empowering the workforce and improving the overall equipment effectiveness (OEE). Moreover, these solutions enable businesses to evaluate financial risks and reward different asset investment and management strategies. In addition, APM solutions help assure that assets have the required capability for optimal operating performance to meet the dynamic business and production goals. These product benefits are strengthening the growth of the market. Apart from this, numerous asset-intensive businesses, particularly in the chemical, mining, oil and gas, and power and utility industries, are employing industrial internet of things (IIoT) and cognitive technologies to help enhance equipment reliability. This is offering lucrative growth opportunities to leading players operating in the industry.
IMARC Group provides an analysis of the key trends in each sub-segment of the global asset performance management market report, along with forecasts at the global, regional and country levels from 2025-2033. Our report has categorized the market based on component, deployment mode, organization size and industry vertical.
Breakup by Component:
Breakup by Deployment Mode:
Breakup by Organization Size:
Breakup by Industry Vertical:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Aspen Technology Inc., AVEVA Group plc, Bentley Systems Incorporated, Detechtion Technologies, DNV GL, GE Digital (General Electric Company), International Business Machines Corporation, Oracle Corporation, Rockwell Automation Inc., SAP SE, Sas Institute Inc., Schneider Electric SE and Siemens Energy AG.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Component, Deployment Mode, Organization Size, Industry Vertical, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | ABB Ltd, Aspen Technology Inc., AVEVA Group plc, Bentley Systems Incorporated, Detechtion Technologies, DNV GL, GE Digital (General Electric Company), International Business Machines Corporation, Oracle Corporation, Rockwell Automation Inc., SAP SE, Sas Institute Inc., Schneider Electric SE and Siemens Energy AG |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global asset performance management market was valued at USD 24.8 Billion in 2024.
We expect the global asset performance management market to exhibit a CAGR of 9.7% during 2025-2033.
The rising demand for asset performance management to reduce unplanned downtime, optimize asset performance, increase Return on Assets (ROA), improve visibility of operations, etc., is primarily driving the global asset performance management market.
The sudden outbreak of the COVID-19 pandemic has led to the widespread adoption of asset performance management for optimal operating performance across numerous organizations to meet the dynamic business and production goals, during the remote working scenario.
Based on the component, the global asset performance management market has been divided into solution and service. Currently, solution exhibits a clear dominance in the market.
Based on the deployment mode, the global asset performance management market can be categorized into on-premises and cloud-based, where on-premises currently account for the majority of the global market share.
Based on the organization size, the global asset performance management market has been segregated into large enterprises and small and medium-sized enterprises. Currently, large enterprises exhibit a clear dominance in the market.
Based on the industry vertical, the global asset performance management market can be bifurcated into energy and utilities, oil and gas, manufacturing, mining and metals, healthcare and life sciences, chemical and pharmaceuticals, government and defense, IT and telecom, food and beverages, and others. Among these, the energy and utilities sector holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global asset performance management market include ABB Ltd, Aspen Technology Inc., AVEVA Group plc, Bentley Systems Incorporated, Detechtion Technologies, DNV GL, GE Digital (General Electric Company), International Business Machines Corporation, Oracle Corporation, Rockwell Automation Inc., SAP SE, Sas Institute Inc., Schneider Electric SE, and Siemens Energy AG.