Asset Performance Management Market Challenges, Trends, and Forecast by 2031

Historic Data: 2021-2023   |   Base Year: 2024   |   Forecast Period: 2025-2031

Coverage: Asset Performance Management Market covers analysis by Offerings (Solution, Service); End-user Industry (Oil and Gas, Energy and Power, Manufacturing, Marine, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Date : Sep 2025
  • Report Code : TIPRE00006762
  • Category : Banking, Financial Services, and Insurance
  • Status : Upcoming
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 150

[Research Report] The asset performance management market is expected to grow from US$ 2.81 billion in 2022 to US$ 8.11 billion by 2031; it is estimated to grow at a CAGR of 14.17% from 2022 to 2031.

Analyst Perspective:

Modern asset performance management solutions go beyond traditional machine monitoring and manual data-gathering methods. By merging innovative machine modeling techniques with modern analytics, these solutions provide users with detailed real-time information about machinery/asset availability and maintenance planning based on the most recent data, enabling them to run the facility more efficiently. The development of technologies such as machine learning, IIoT, blockchain, digital twin, and AI is expected to improve the efficiency of asset performance management systems by facilitating the development of innovative solutions and management software, thereby driving the growth prospects of the asset performance management market.

The recent shift in the technological trend of the industrial sector has been among the key driving factors behind the growing acceptance of these technologies. Industry 4.0 is all about using advanced technologies to streamline the industrial sector's traditional operations to prepare them for the next phase of the industrial revolution. Furthermore, these solutions have also been highly effective in helping organizations reduce the total cost of ownership of an asset. They can reduce the idle time of machinery and carry out preventive maintenance based on real-time data, encouraging vendors to adopt asset performance management solutions and propelling the asset performance management market.

Market Overview:

Asset performance management is an integrated set of solutions and services, including various software used to monitor aspects such as asset health and reliability. They are also used to plan strategies for asset management and divestment. For instance, General Electric provides the Predix solution containing several products such as APM Reliability, APM Strategy, APM Integrity and APM Health. APM system provides various perceptions at the point of action to increase and minimize unplanned repair work asset life, decrease interruption, lower maintenance costs, and reduce equipment failure risk.

The growing demand for digital solutions across various industries, such as manufacturing, oil & gas, and chemical, for reducing operational expenses propels the demand for asset performance management market. Using sensors, the asset performance management solution system helps collect different types of data from all the assets, such as heavy equipment, machinery, and others. Integrating disparate data sources, the Asset performance management system builds a data analytics platform that comprehensively views all operational holdings in the industrial facility. Customers can exploit this information to improve asset management processes and prioritize maintenance activities.

Asset performance management (APM) solutions enable organizations to monitor assets continuously to identify, diagnose, and prioritize impending equipment problems in real-time, with the primary goal of helping them maximize profitability by balancing cost, risk, and performance of the assets, plant, or of the people that are operating all those things. Overall, asset performance management solutions provide unique value to modern industrial operations and contribute to asset performance management market growth.

With asset performance management systems, companies from asset-intensive industries can address various issues, including environmental risks, labor safety risks and operational costs, poor decision-making, and increasing maintenance. The overall benefits of the systems, several technological advancements such as digital twin, and IIoT gaining interest in digital asset management solutions are anticipated to contribute significantly to the development of the asset performance management market in the forecast period.

Customize This Report To Suit Your Requirement

You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities

Asset Performance Management Market: Strategic Insights

asset-performance-management-market
  • Get Top Key Market Trends of this report.
    This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Market Driver:

Increased Digital Workforce and Reliability Culture to Drive Growth of the asset performance management market

Asset performance management enables organizations to accelerate to a digital business model. The growth in computing speed and storage makes virtual and global collaboration possible in more fields daily. As networks and technology become more vigorous, the computing power available in consumer hardware endures an upsurge, and employees become more relaxed with working on their devices, rather than meeting face to face or having to come into an office. Having a more digital ability team has been a boon for employers. Technology supporting digitally integrated employees gets stronger and stronger every year, allowing enterprises to keep a very dispersed team on the same page logistically and move towards a similar objective. The growing digital workforce is anticipated to drive the asset performance management market.

Further, organizations achieve control of asset decisions with broad-reaching data that reflect operating impact, resource availability, and real-time situation reports. When industrial organizations require assets to operate at all times, asset performance management helps focus on assets that need renovation to lower the Total Cost of Ownership (TCO) and reduce the risk of unplanned downtime of mission-critical assets. If they want to survive, industrial companies must recognize that they are in the information business, and change extends beyond the assets themselves. Workforces are embracing the digital industry they now work in and are adopting asset performance management tools for safety and reliability in today's highly regulated environments. These factors are driving the asset performance management market share.

Segmental Analysis:

Based on Offering, the asset performance management market is segmented into services and solutions. The solution segment held the largest share of the asset performance management market in 2022, whereas the service segment is estimated to register the highest CAGR in the asset performance management market during the forecast period. Asset Strategy Management (ASM) is a structured process that allows organizations to gain control, effectively manage and eliminate inconsistencies in asset strategies, and ensure assets are up and running at their full potential in the enterprise widely for closing the gap between current asset performance and optimal asset performance. Implementing an asset management program ensures reliability strategies are optimized to deliver the best balance of risk, cost, and performance. It also ensures strategies evolve based on real data, appropriate analysis and justification are provided, and effective review and approval processes are offered. Thus, due to its major significance, the  Offering segment is anticipated to propel the asset performance management market.

Regional Analysis:

The North America asset performance management market was valued at US$ XXX billion in 2022 and is projected to reach US$ XXX billion by 2031. The asset performance management market is expected to grow at a CAGR of XXX% during the forecast period. Europe has established itself as a dominant asset performance management market, leading market share and driving growth. Several factors have contributed to North America’s strong asset performance management market position. North America is one of the most technologically advanced regions in the world. It accounts for the principal share of the global asset performance management market due to the early adoption of cloud and digital technologies with Industry 4.0 capabilities in the US North American countries have well-established and sustainable economies, which enable them to invest strongly in R&D activities, thereby contributing to the development of new technologies. Due to the timely adoption of trending technologies, such as IOT, big data AI and ML, manufacturers are keen to integrate industrial IOT technologies with their manufacturing processes to simplify asset management and enable predictive and prescriptive maintenance across asset-intensive organizations. The growing need to manage assets sustainably and optimize total cost of ownership (TCO) has led to the adoption of asset performance management solutions across the region. North America is in the lead in deploying asset performance management solutions, which efficiently provide early warning notification with predictive analytics and diagnosis of equipment issues weeks, days, or months before failure.

The growing demand for high-speed data networks and the considerable presence of asset performance management solution vendors in the region contribute to the growth of regional asset performance management. Also, the growing preference for cloud-based asset performance management solutions drives the demand for advanced asset performance management solutions in the region. For instance, in 2021, GE Digital launched the asset service management software named Predix Service Max. The software enabled to reduce the time for industrial equipment operators. Such launched in the region propelling the growth of the asset performance management market. Furthermore, growing investments specifically for research and development of cloud infrastructure organizations in IT infrastructure are further driving regional market growth.

Related to other regions, companies in North America are beholding supportive government policies and favorable business conditions, which empower them to develop and introduce better cloud platforms, afterward foremost to an increase in the acceptance of asset performance management in the market. The number of data analysts, computer scientists, and software engineers who are emphasizing using cloud-based solutions and services is high in Canada. This is further adding to the growth of the North American asset performance management market.

Key Player Analysis:

The asset performance management market analysis consists of players such as ABB Ltd., Aspen Technology Inca., AVEVA Group plc., Bentley Systems Incorporated, General Electric Company, Intel Corporation, International Business Machines Corporation, OSIsoft LLC, Schneider and Siemens AG.

Recent Developments:

 

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the asset performance management market. A few recent asset performance management market developments are listed below: 

  • In June 2022, Daniel Arsham and Kohler, a prominent American plumbing and bathroom furniture manufacturer, combined to produce a 3D-printed washbasin. Kohler presented brand-new digital bathroom options and an immersive Daniel Arsham sculpture at Milan Design Week 2022.
  • In August 2022, GE Digital announced a software solution combining Performance Intelligence with APM Reliability. Designed for strategic and data-driven decision-making, the software forms a performance advisory solution by integrating real-time thermal performance data and analysis software with analytics for strategic and data-driven decision-making.
  • In January 2021, the world's largest Japanese toilet manufacturer, Toto Ltd., introduced an "AI-based Wellness Toilet." The wellness toilet uses cutting-edge sensing technology to monitor and analyze its users' emotional and physical health. Using this information, the user's smartphone app can offer ways to improve their wellness.
Report Scope

Asset Performance Management Market Regional Insights

The regional trends and factors influencing the Asset Performance Management Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Asset Performance Management Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

asset-performance-management-market-global-geography
  • Get the Regional Specific Data for Asset Performance Management Market

Asset Performance Management Market Report Scope

Report Attribute Details
Market size in 2024 US$ 3.66 Billion
Market Size by 2031 US$ 9.26 Billion
Global CAGR (2025 - 2031) 14.17%
Historical Data 2021-2023
Forecast period 2025-2031
Segments Covered By Offerings
  • Solution
  • Service
By End-user Industry
  • Oil and Gas
  • Energy and Power
  • Manufacturing
  • Marine
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • ABB Ltd.
  • Aspen Technology Inc.
  • AVEVA Group plc
  • Bentley Systems Incorporated
  • General Electric Company
  • Intel Corporation
  • International Business Machines Corporation
  • OSIsoft LLC
  • Schneider

  • Asset Performance Management Market Players Density: Understanding Its Impact on Business Dynamics

    The Asset Performance Management Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Asset Performance Management Market are:

    1. ABB Ltd.
    2. Aspen Technology Inc.
    3. AVEVA Group plc
    4. Bentley Systems Incorporated
    5. General Electric Company

    Disclaimer: The companies listed above are not ranked in any particular order.


    asset-performance-management-market-cagr

    • Get the Asset Performance Management Market top key players overview
    Ankita Mittal
    Ankita Mittal
    Manager,
    Market Research & Consulting

    Ankita is a dynamic market research and consulting professional with over 8 years of experience across the technology, media, ICT, and electronics & semiconductor sectors. She has successfully led and delivered 100+ consulting and research assignments for global clients such as Microsoft, Oracle, NEC Corporation, SAP, KPMG, and Expeditors International. Her core competencies include market assessment, data analysis, forecasting, strategy formulation, competitive intelligence, and report writing.

    Ankita is adept at handling complete project cycles—from pre-sales proposal design and client discussions to post-sales delivery of actionable insights. She is skilled in managing cross-functional teams, structuring complex research modules, and aligning solutions with client-specific business goals. Her excellent communication, leadership, and presentation abilities have enabled her to consistently deliver value-driven outcomes in fast-paced and evolving market environments.

    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset

    Testimonials

    Reason to Buy

    • Informed Decision-Making
    • Understanding Market Dynamics
    • Competitive Analysis
    • Identifying Emerging Markets
    • Customer Insights
    • Market Forecasts
    • Risk Mitigation
    • Boosting Operational Efficiency
    • Strategic Planning
    • Investment Justification
    • Tracking Industry Innovations
    • Aligning with Regulatory Trends
    Your Key Concerns Addressed - Question & Answer
    Can I view a sample of the report before purchasing?

    Yes! We provide a free sample of the report, which includes Report Scope (Table of Contents), report structure, and selected insights to help you assess the value of the full report. Please click on the "Download Sample" button or contact us to receive your copy.

    Is analyst support included with the purchase?

    Absolutely — analyst assistance is part of the package. You can connect with our analyst post-purchase to clarify report insights, methodology or discuss how the findings apply to your business needs.

    What are the next steps once I place an order?

    Once your order is successfully placed, you will receive a confirmation email along with your invoice.

    • For published reports: You’ll receive access to the report within 4–6 working hours via a secured email sent to your email.
    • For upcoming reports: Your order will be recorded as a pre-booking. Our team will share the estimated release date and keep you informed of any updates. As soon as the report is published, it will be delivered to your registered email.

    Can the report be tailored to suit my specific needs?

    We offer customization options to align the report with your specific objectives. Whether you need deeper insights into a particular region, industry segment, competitor analysis, or data cut, our research team can tailor the report accordingly. Please share your requirements with us, and we’ll be happy to provide a customized proposal or scope.

    In what format is the report delivered?

    The report is available in either PDF format or as an Excel dataset, depending on the license you choose.

    The PDF version provides the full analysis and visuals in a ready-to-read format. The Excel dataset includes all underlying data tables for easy manipulation and further analysis.
    Please review the license options at checkout or contact us to confirm which formats are included with your purchase.

    How secure is the payment process on your platform?

    Our payment process is fully secure and PCI-DSS compliant.

    We use trusted and encrypted payment gateways to ensure that all transactions are protected with industry-standard SSL encryption. Your payment details are never stored on our servers and are handled securely by certified third-party processors.
    You can make your purchase with confidence, knowing your personal and financial information is safe with us.

    Do you provide special pricing for buying multiple reports?

    Yes, we do offer special pricing for bulk purchases.
    If you're interested in purchasing multiple reports, we’re happy to provide a customized bundle offer or volume-based discount tailored to your needs. Please contact our sales team with the list of reports you’re considering, and we’ll share a personalized quote.

    Can I connect with your team to discuss the report before buying?

    Yes, absolutely.
    Our team is available to help you make an informed decision. Whether you have questions about the report’s scope, methodology, customization options, or which license suits you best, we’re here to assist. Please reach out to us at sales@theinsightpartners.com, and one of our representatives will get in touch promptly.

    Will I get a billing invoice upon purchase?

    Yes, a billing invoice will be automatically generated and sent to your registered email upon successful completion of your purchase.
    If you need the invoice in a specific format or require additional details (such as company name, GST, or VAT information), feel free to contact us, and we’ll be happy to assist.

    Is there support available if I can’t access my report?

    Yes, certainly.
    If you encounter any difficulties accessing or receiving your report, our support team is ready to assist you. Simply reach out to us via email or live chat with your order information, and we’ll ensure the issue is resolved quickly so you can access your report without interruption.

    Our Clients

    The List of Companies

    1. ABB Ltd.2. Aspen Technology Inc.3. AVEVA Group plc4. Bentley Systems Incorporated5. General Electric Company6. Intel Corporation7. International Business Machines Corporation8. OSIsoft LLC9. Schneider10. Siemens AG
    Sales Assistance
    US: +1-646-491-9876
    UK: +44-20-8125-4005
    Email: sales@theinsightpartners.com
    Chat with us
    DUNS Logo
    87-673-9708
    ISO Certified Logo
    ISO 9001:2015
    ISO Certified Logo