Asset Performance Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The global asset performance management market is witnessing significant growth, driven by the increasing demand for advanced tools that enable automation and effective communication within the software. Asset performance management solutions are being widely adopted across various industries, and businesses are expanding their operations to reach more customers, leading to a surge in demand for cloud-based solutions and services. The market is expected to experience rapid growth in the coming years, fueled by enhanced efficiency in automation software, substantial investments, and increasing R&D activities. Leading players in the market are focusing on partnerships for open innovations to maintain a strong presence in the global market.
Adoption of Advanced Technology Supports Global Market Expansion
Asset performance management (APM) encompasses people, processes, and technologies to improve uptime, increase revenue, and extend the lifespan of physical assets. APM integration helps reduce operational costs and mitigate business risks. The adoption of Industry 4.0 solutions has facilitated effective communication between systems and automated repetitive tasks using cutting-edge technologies. Operational AI, in particular, offers powerful and reliable solutions that enhance operational efficiency. These next-generation technologies are driving a paradigm shift in industrial productivity and enabling the adoption of advanced technology in asset performance management solutions.
Energy and Utilities Sector to Lead as the Primary End-Use Segment by Vertical
Organizations in the energy and utilities sector are increasingly adopting asset management solutions to track the performance and condition of their assets to meet growing demands. These solutions enhance the reliability and availability of physical assets by providing valuable insights and advanced analytics. The demand for asset performance management solutions is further driven by the growing preference for predictive maintenance techniques. Government and public sector initiatives, including investments in technology and digitalization, are expected to fuel the growth of the asset performance management market during the forecast period.
North America to Dominate the Asset Performance Management Market with Agile Technology Adoption
North America is projected to maintain its dominance in the asset performance management market due to its rapid adoption of emerging technologies. The region's strong emphasis on modern technology adoption is driving market growth. Additionally, the demand for high-speed data networks and the presence of software vendors are further fueling market expansion in North America. The region's promising investments in the IT sector, particularly in cloud infrastructure R&D, are creating opportunities for the asset performance management market.
Major Market Players
Prominent players in the global asset performance management market include AspenTech, IBM, GE Digital, Detechtion Technologies, ARMS Reliability, Bentley Systems, SAP, Oracle, Infor, Nexus Global, Yokogawa, Honeywell, IPS Intelligent Process Solutions, Emerson, and BISTel.
Please note: The PDF e-mail from publisher version of this report is for a global site license.
- 1. Executive Summary
- 1.1. Global Asset Performance Management Market: Snapshot
- 1.2. Future Projections, 2023 - 2030, (US$ Mn)
- 1.3. Key Segment Analysis and Competitive Insights
- 1.4. Premium Insights
- 2. Market Overview
- 2.1. Market Definitions and Segmentation
- 2.2. Market Dynamics
- 2.2.1. Driver
- 2.2.2. Restraint
- 2.2.3. Industry Challenges & Opportunities
- 2.3. Market Forces Analysis
- 2.3.1. Value Chain Analysis
- 2.3.2. Porters Five Forces Analysis
- 2.4. Challenges and Solutions
- 2.5. Supply Chain Impact Analysis
- 2.6. COVID-19 Impact Analysis
- 2.6.1. Pre and Post Covid-19 Analysis
- 2.7. Regulatory Scenario
- 2.8. Economic Analysis
- 3. Global Asset Performance Management Market Outlook, 2019 - 2030
- 3.1. Global Asset Performance Management Market Outlook, by Component, Value (US$ Mn), 2019 - 2030
- 3.1.1. Key Highlights
- 3.1.2. Solutions
- 3.1.2.1. Asset Strategy
- 3.1.2.2. Asset Reliability
- 3.1.2.3. Predictive Asset Management
- 3.1.2.4. Misc.
- 3.1.3. Services
- 3.2. Global Asset Performance Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
- 3.2.1. Key Highlights
- 3.2.1.1. Large Enterprises
- 3.2.1.2. SMEs
- 3.3. Global Asset Performance Management Market Outlook, by Verticals, Value (US$ Mn), 2019 - 2030
- 3.3.1. Key Highlights
- 3.3.1.1. Energy & Utilities
- 3.3.1.2. Oil & Gas
- 3.3.1.3. Automotive
- 3.3.1.4. Metal & Mining
- 3.3.1.5. Government & Public Sector
- 3.3.1.6. Healthcare & Life sciences
- 3.3.1.7. Chemicals
- 3.3.1.8. IT & Telecommunications
- 3.3.1.9. Consumer Goods, Food & Beverage
- 3.3.1.10. Misc.
- 3.4. Global Asset Performance Management Market Outlook, by Deployment Mode, Value (US$ Mn), 2019 - 2030
- 3.4.1. Key Highlights
- 3.4.1.1. Cloud
- 3.4.1.2. On-premises
- 3.5. Global Asset Performance Management Market Outlook, by Region, Value (US$ Mn), 2019 - 2030
- 3.5.1. Key Highlights
- 3.5.1.1. North America
- 3.5.1.2. Europe
- 3.5.1.3. Asia Pacific
- 3.5.1.4. Latin America
- 3.5.1.5. Middle East & Africa
- 3.5.2. Market Attractiveness Analysis
- 4. North America Asset Performance Management Market Outlook, 2019 - 2030
- 4.1. North America Asset Performance Management Market Outlook, by Component, Value (US$ Mn), 2019 - 2030
- 4.1.1. Key Highlights
- 4.1.2. Solutions
- 4.1.2.1. Asset Strategy
- 4.1.2.2. Asset Reliability
- 4.1.2.3. Predictive Asset Management
- 4.1.2.4. Misc.
- 4.1.3. Services
- 4.2. North America Asset Performance Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
- 4.2.1. Key Highlights
- 4.2.1.1. Large Enterprises
- 4.2.1.2. SMEs
- 4.3. North America Asset Performance Management Market Outlook, by Verticals, Value (US$ Mn), 2019 - 2030
- 4.3.1. Key Highlights
- 4.3.1.1. Energy & Utilities
- 4.3.1.2. Oil & Gas
- 4.3.1.3. Automotive
- 4.3.1.4. Metal & Mining
- 4.3.1.5. Government & Public Sector
- 4.3.1.6. Healthcare & Life sciences
- 4.3.1.7. Chemicals
- 4.3.1.8. IT & Telecommunications
- 4.3.1.9. Consumer Goods, Food & Beverage
- 4.3.1.10. Misc.
- 4.4. North America Asset Performance Management Market Outlook, by Deployment Mode, Value (US$ Mn), 2019 - 2030
- 4.4.1. Key Highlights
- 4.4.1.1. Cloud
- 4.4.1.2. On-premises
- 4.5. North America Asset Performance Management Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 4.5.1. Key Highlights
- 4.5.1.1. U.S.
- 4.5.1.2. Canada
- 5. Europe Asset Performance Management Market Outlook, 2019 - 2030
- 5.1. Europe Asset Performance Management Market Outlook, by Component, Value (US$ Mn), 2019 - 2030
- 5.1.1. Key Highlights
- 5.1.2. Solutions
- 5.1.2.1. Asset Strategy
- 5.1.2.2. Asset Reliability
- 5.1.2.3. Predictive Asset Management
- 5.1.2.4. Misc.
- 5.1.3. Services
- 5.2. Europe Asset Performance Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
- 5.2.1. Key Highlights
- 5.2.1.1. Large Enterprises
- 5.2.1.2. SMEs
- 5.3. Europe Asset Performance Management Market Outlook, by Verticals, Value (US$ Mn), 2019 - 2030
- 5.3.1. Key Highlights
- 5.3.1.1. Energy & Utilities
- 5.3.1.2. Oil & Gas
- 5.3.1.3. Automotive
- 5.3.1.4. Metal & Mining
- 5.3.1.5. Government & Public Sector
- 5.3.1.6. Healthcare & Life sciences
- 5.3.1.7. Chemicals
- 5.3.1.8. IT & Telecommunications
- 5.3.1.9. Consumer Goods, Food & Beverage
- 5.3.1.10. Misc.
- 5.4. Europe Asset Performance Management Market Outlook, by Deployment Mode, Value (US$ Mn), 2019 - 2030
- 5.4.1. Key Highlights
- 5.4.1.1. Cloud
- 5.4.1.2. On-premises
- 5.5. Europe Asset Performance Management Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 5.5.1. Key Highlights
- 5.5.1.1. Germany
- 5.5.1.2. France
- 5.5.1.3. U.K.
- 5.5.1.4. Italy
- 5.5.1.5. Rest of Europe
- 5.5.2. BPS Analysis/Market Attractiveness Analysis
- 6. Asia Pacific Asset Performance Management Market Outlook, 2019 - 2030
- 6.1. Asia Pacific Asset Performance Management Market Outlook, by Component, Value (US$ Mn), 2019 - 2030
- 6.1.1. Key Highlights
- 6.1.2. Solutions
- 6.1.2.1. Asset Strategy
- 6.1.2.2. Asset Reliability
- 6.1.2.3. Predictive Asset Management
- 6.1.2.4. Misc.
- 6.1.3. Services
- 6.2. Asia Pacific Asset Performance Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
- 6.2.1. Key Highlights
- 6.2.1.1. Large Enterprises
- 6.2.1.2. SMEs
- 6.3. Asia Pacific Asset Performance Management Market Outlook, by Verticals, Value (US$ Mn), 2019 - 2030
- 6.3.1. Key Highlights
- 6.3.1.1. Energy & Utilities
- 6.3.1.2. Oil & Gas
- 6.3.1.3. Automotive
- 6.3.1.4. Metal & Mining
- 6.3.1.5. Government & Public Sector
- 6.3.1.6. Healthcare & Life sciences
- 6.3.1.7. Chemicals
- 6.3.1.8. IT & Telecommunications
- 6.3.1.9. Consumer Goods, Food & Beverage
- 6.3.1.10. Misc.
- 6.4. Asia Pacific Asset Performance Management Market Outlook, by Deployment Mode, Value (US$ Mn), 2019 - 2030
- 6.4.1. Key Highlights
- 6.4.1.1. Cloud
- 6.4.1.2. On-premises
- 6.5. Asia Pacific Asset Performance Management Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 6.5.1. Key Highlights
- 6.5.1.1. China
- 6.5.1.2. Japan
- 6.5.1.3. South Korea
- 6.5.1.4. India
- 6.5.1.5. Rest of Asia Pacific
- 6.5.2. BPS Analysis/Market Attractiveness Analysis
- 7. Latin America Asset Performance Management Market Outlook, 2019 - 2030
- 7.1. Latin America Asset Performance Management Market Outlook, by Component, Value (US$ Mn), 2019 - 2030
- 7.1.1. Key Highlights
- 7.1.2. Solutions
- 7.1.2.1. Asset Strategy
- 7.1.2.2. Asset Reliability
- 7.1.2.3. Predictive Asset Management
- 7.1.2.4. Misc.
- 7.1.3. Services
- 7.2. Latin America Asset Performance Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
- 7.2.1. Key Highlights
- 7.2.1.1. Large Enterprises
- 7.2.1.2. SMEs
- 7.3. Latin America Asset Performance Management Market Outlook, by Verticals, Value (US$ Mn), 2019 - 2030
- 7.3.1. Key Highlights
- 7.3.1.1. Energy & Utilities
- 7.3.1.2. Oil & Gas
- 7.3.1.3. Automotive
- 7.3.1.4. Metal & Mining
- 7.3.1.5. Government & Public Sector
- 7.3.1.6. Healthcare & Life sciences
- 7.3.1.7. Chemicals
- 7.3.1.8. IT & Telecommunications
- 7.3.1.9. Consumer Goods, Food & Beverage
- 7.3.1.10. Misc.
- 7.4. Latin America Asset Performance Management Market Outlook, by Deployment Mode, Value (US$ Mn), 2019 - 2030
- 7.4.1. Key Highlights
- 7.4.1.1. Cloud
- 7.4.1.2. On-premises
- 7.5. Latin America Asset Performance Management Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 7.5.1. Key Highlights
- 7.5.1.1. Brazil
- 7.5.1.2. Mexico
- 7.5.1.3. Rest of Latin America
- 7.5.2. BPS Analysis/Market Attractiveness Analysis
- 8. Middle East & Africa Asset Performance Management Market Outlook, 2019 - 2030
- 8.1. Middle East & Africa Asset Performance Management Market Outlook, by Component, Value (US$ Mn), 2019 - 2030
- 8.1.1. Key Highlights
- 8.1.2. Solutions
- 8.1.2.1. Asset Strategy
- 8.1.2.2. Asset Reliability
- 8.1.2.3. Predictive Asset Management
- 8.1.2.4. Misc.
- 8.1.3. Services
- 8.2. Middle East & Africa Asset Performance Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
- 8.2.1. Key Highlights
- 8.2.1.1. Large Enterprises
- 8.2.1.2. SMEs
- 8.3. Middle East & Africa Asset Performance Management Market Outlook, by Verticals, Value (US$ Mn), 2019 - 2030
- 8.3.1. Key Highlights
- 8.3.1.1. Energy & Utilities
- 8.3.1.2. Oil & Gas
- 8.3.1.3. Automotive
- 8.3.1.4. Metal & Mining
- 8.3.1.5. Government & Public Sector
- 8.3.1.6. Healthcare & Life sciences
- 8.3.1.7. Chemicals
- 8.3.1.8. IT & Telecommunications
- 8.3.1.9. Consumer Goods, Food & Beverage
- 8.3.1.10. Misc.
- 8.4. Middle East & Africa Asset Performance Management Market Outlook, by Deployment Mode, Value (US$ Mn), 2019 - 2030
- 8.4.1. Key Highlights
- 8.4.1.1. Cloud
- 8.4.1.2. On-premises
- 8.5. Middle East & Africa Asset Performance Management Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 8.5.1. Key Highlights
- 8.5.1.1. GCC
- 8.5.1.2. South Africa
- 8.5.1.3. Rest of Middle East & Africa
- 8.5.2. BPS Analysis/Market Attractiveness Analysis
- 9. Competitive Landscape
- 9.1. Company Market Share Analysis, 2021
- 9.2. Competition Matrix (By Tier and Size of companies)
- 9.3. Strategic Collaborations
- 9.3.1. Joint Ventures
- 9.3.2. Mergers & Acquisitions
- 9.4. Company Profiles
- 9.4.1. ABB Ltd.
- 9.4.1.1. Company Overview
- 9.4.1.2. Product Portfolio
- 9.4.1.3. Financial Overview
- 9.4.1.4. Business Strategies and Development
- 9.4.2. Baker Hughes
- 9.4.3. Aveva Group Plc
- 9.4.4. Bently Systems
- 9.4.5. GE Digital
- 9.4.6. IBM Corporation
- 9.4.7. Aspen Technology Inc.
- 9.4.8. DNV GL A/S
- 9.4.9. SAP SE
- 9.4.10. SAS Institute Inc.
- 9.4.11. Siemens AG
- 9.4.12. Oracle
- 10. Appendix
- 10.1. Acronyms and Abbreviations
- 10.2. Research Scope & Assumptions
- 10.3. Research Methodology and Information Sources
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook