Europe Asset Monitoring Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

The Europe Asset Monitoring Market size was valued at US$ 344.14 million in 2024 and is expected to reach US$ 652.14 million by 2031; it is estimated to register a CAGR of 9.7% during 2025–2031. The role of 5G in remote asset monitoring is likely to remain a key market trend.

Europe Asset Monitoring Market Analysis

The rising adoption of IoT-based asset monitoring in industries and favorable government regulations for asset management solutions are driving their utilization in Europe. Industrial expansion, a growing focus on reducing machinery and equipment maintenance costs, and concerns related to workplace safety further fuel their utilization. Technological advancements, the focus of market players on developing AI-based asset management tools, and increasing demand for comprehensive asset performance management platforms further propel market growth. Also, with the soaring research and development activities, the benefits of 5G technology to speed up asset monitoring processes and businesses' implementation of cost reduction strategies are expected to create growth opportunities for the market during the forecast period.

Europe Asset Monitoring Market Overview

Asset monitoring uses hardware (such as sensors, RFID tags, and IoT devices), software, and services to monitor asset conditions and performance on a regular basis. It allows firms to ensure that their assets are available in the required number and quality at the appropriate time. The process encourages firms of timely maintenance and servicing of machines and equipment, inventory restocking, and keep track of their production counts before there is a delay in productivity. The integration of seamless asset monitoring hardware and software supports businesses to reduce expenses by delivering real-time insights into asset data. Benefits provided by asset monitoring solutions, such as continuous, accurate, predictive, and real-time monitoring, are driving their adoption. Asset monitoring solutions help businesses to schedule maintenance by monitoring assets, including machinery, buildings, furniture, and automobiles.

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Europe Asset Monitoring Market: Strategic Insights

Europe Asset Monitoring Market

• Market Size 2024
  US$ 344.14 Million
• Market Size 2031
  US$ 652.14 Million

Market Dynamics

GROWTH DRIVERS

• Rising Adoption of IoT-based Asset Monitoring Across Industries
• Favorable Government Regulation for Asset Management

FUTURE TRENDS

• Role of 5G in Remote Asset Monitoring

OPPORTUNITIES

• Development of AI-based Asset Management Tools
• Soaring Demand for Comprehensive Asset Performance Management Platform

Regional Overview

• Europe

Market Segmentation

Component

• Hardware
• Software
• Services

Software

• On-Premise
• Cloud-Based

Enterprise Size

• Large Enterprises
• Small and Medium Enterprises

End User Industry

• Manufacturing
• Chemicals and Petrochemicals
• Oil and Gas
• Healthcare
• Construction
• Others

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Europe Asset Monitoring Market Drivers and Opportunities

Rising Adoption of IoT-based Asset Monitoring Across Industries

IoT-based asset monitoring is used in industries such as warehouses, manufacturing and logistics facilities, data centers, manufacturing, supply chains, and hospitals. These industries use IoT-based asset monitoring solutions to control their operation, enhance efficiency, and accelerate task completion. These solutions are integrated with IoT-based sensors that alert asset managers about the unauthorized movement, tampering, or theft of assets. Businesses can use Global Positioning System (GPS), radio-frequency identification (RFID), and geofencing to avoid or respond to asset loss by increasing security and reducing financial losses. It also facilitates real-time asset monitoring, allowing businesses to know the exact location and condition of their assets. The growing adoption and implementation of continuous monitoring solutions among industries are surging the utilization of IoT-based asset monitoring solutions to monitor their physical assets in real time. Other industries, including heavy equipment, data centers, and construction are also adopting IoT-based asset monitoring solutions to automate their processes and lower operational costs, which propels the Europe Asset Monitoring Market growth.

Development of AI-based Asset Management Tools

Artificial intelligence (AI) technology is revolutionizing asset monitoring by enhancing their capabilities. AI-driven asset monitoring solutions leverage historical data alongside real-time sensor inputs to predict the performance of assets, including machinery and equipment. This proactive approach enables businesses to conduct regular maintenance before issues arise, thereby minimizing unexpected downtime and enhancing the longevity of their assets. It mitigates wear and tear, prolonging the lifespan of machinery and equipment while ensuring operational efficiency. Market players are deploying and launching AI-integrated asset monitoring solutions to examine asset data and identify maintenance requirements before a breakdown occurs; this supports heavy industries in reducing operational downtime by increasing operational efficiencies. AI platforms can track and monitor real-time performance and can detect anomalies in assets. AI generates data from IoT sensors and other sources and alerts operators to address the issues, enabling industries to operate at peak efficiency with minimal downtime. The predictive capabilities of AI are influencing the future operations of asset monitoring solutions. Thus, the shift toward more intelligent, accurate, reliable, data-driven, and real-time asset monitoring technologies is expected to create lucrative growth opportunities for the Europe Europe Asset Monitoring Market during the forecast period.

Europe Asset Monitoring Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Europe Asset Monitoring Market analysis are component, enterprise size, and end users.

• In terms of component, the Europe Asset Monitoring Market is segmented into hardware, software, and services. The hardware segment held the largest market share in 2024. The software segment is further bifurcated into on-premise and cloud-based software.
• Based on enterprise size, the Europe Asset Monitoring Market is bifurcated into SMEs and large enterprises. The large enterprises segment held the largest market share in 2024.
• In terms of end users, the Europe Asset Monitoring Market is segmented into manufacturing, chemicals and petrochemicals, oil and gas, healthcare, construction, and others. The Manufacturing segment held the largest Europe Asset Monitoring Market share in 2024.

Europe Asset Monitoring Market Share Analysis by Geography

• The Europe Asset Monitoring Market is segmented into countries such as Finland, Sweden, Belgium, the Netherlands, Germany, and the Rest of Europe. Germany dominated the market in 2024, followed by the Rest of Europe and the Netherlands.
• The awareness related to the benefits of advanced technologies such as AI, digital twins, 5G, and Internet of Things (IoT)-based devices is rising among government and tech companies in Europe. The governments in Europe are planning to organize the IoT Tech Expo on 24–25 September 2025 at RAI, Amsterdam. The expo aims to create awareness related to the benefits provided by cutting-edge technologies such as IoT, digital twins & enterprise transformation, smart infrastructures & automation, edge platforms, and data & analytics. As businesses embrace automation in asset monitoring, the expansion of the IoT ecosystem directly impacts the Europe Asset Monitoring Market. IoT-based devices such as smart sensors, GPS trackers, RFID Tags, and readers, condition monitoring devices, connected cameras, access control systems, etc., are highly adopted for real-time asset monitoring by manufacturing, transportation, logistics, and healthcare industries. They provide continuous and real-time monitoring of assets, enabling quick access to data on their location, condition, status, and overall health; this supports asset managers in lowering downtime and ensures that issues with machines and equipment are identified early. The growing IoT infrastructure increases the adoption of reliable and high-performance asset monitoring solutions that support asset managers in real-time asset monitoring. Thus, the rising requirements for advanced asset monitoring software are expected to create future growth opportunities in the Europe Asset Monitoring Market.

Europe Asset Monitoring Market Report Scope

Europe Asset Monitoring Market News and Recent Developments

The Europe Asset Monitoring Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Europe Asset Monitoring Market are listed below:

• Oracle announced new Oracle Cloud Infrastructure (OCI) distributed cloud innovations to help meet the growing global demand for its AI and cloud services. With Oracle’s distributed cloud, customers can deploy OCI’s 150+ AI and cloud services at the edge, in their data center, across clouds, or in the public cloud. They can help address data privacy, sovereign AI, and low latency requirements.  (Source: Oracle Corporation, Press Release, September 2024)
• Prysmian Group, the world leader in the energy and telecom cable systems industry, announced that it was present at the IOTHINGS WORLD conference, a leading event entirely focused on the Digital Transformation of Things. Here, the company presented PRY-CAM: AI and sensing technologies for the monitoring of electrical grids and assets.

(Source: Prysmian Group, Press Release, September 2021)

Europe Asset Monitoring Market Report Coverage and Deliverables

The "Europe Asset Monitoring Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:

• Europe Asset Monitoring Market size and forecast at regional and country levels for all the key market segments covered under the scope
• Europe Asset Monitoring Market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Europe Asset Monitoring Market analysis covering key market trends, regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Europe Asset Monitoring Market
• Detailed company profiles