Asset Performance Management Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Asset Performance Management Market
The Asset Performance Management market size was valued at USD 3.07 billion in 2023, and the market is now projected to grow from USD 3.47 billion in 2024 to USD 10.19 billion by 2032, exhibiting a CAGR of 14.4% during the forecast period of 2024-2032.
The COVID-19 widespread essentially impelled the selection of computerized arrangements that may offer assistance in upgrading operational effectiveness and efficiency. To deal with instabilities, the demand for resource execution administration rose to guarantee gear wellbeing from farther areas. The program backed the administration in observing the real-time status of operations that might affect the product and item conveyances. The post-pandemic unwavering quality of resource execution administration arrangements is anticipated to develop altogether, driving market development.
The integration of artificial intelligence along with resource execution administration is picking up traction over businesses. The progressed innovation exponentially improves the capabilities of the computer program, brings down resource downtime, increments hardware lifecycle, and diminishes generally operational costs. This is often anticipated to boost the demand for APM computer program. Moreover, the items offer assistance analyze and screen enormous information and huge substance in real-time to bolster huge endeavors. They dispose of labor-intensive repairs and administrations in development.
Businesses over the globe have certain controls and compliances to reduce negative impacts on the environment. Businesses got to have benefit and support of equipment to check emanations routinely. Other than, a few companies are pointing for a net zero approach, and usually anticipated to drive the appropriation of resource execution administration computer program. Besides, different nations over the globe are actualizing particular compliances.
Comprehensive Analysis Of Asset Performance Management Market
On the premise of deployment, the market is portioned into cloud and on-premises.
The on-premises section is expected to hold the greatest share, rising demand for information security, inclination for long-term consolation, and relationship of businesses with on-premises sending are driving the advertise development. Based on endeavor sort, the advertise is fragmented into expansive ventures and small & medium enterprises. The huge enterprises fragment is assessed to rule the market amid the figure period. The developing selection of digitalization is set to fuel the request for resource execution checking program. Based on sort, the advertise is categorized into asset integrity management, predictive asset management, asset strategy optimization, asset reliability, and others (field service management, asset health management). The prescient resource administration section is assessed to pick up greatest share amid the figure period. The software sort bolsters real-time gear investigation that persistently screens the wellbeing of physical resources.
The North American market is slated to pick up greatest income with a rippling value of 1.28 billion USD amid the estimate period. The fast move to digital stages is likely to fuel program selection within the region. The developing mindfulness with respect to the wellbeing of resources to decrease natural harm is driving the North American market development.
Key market players are entering into key organizations and collaborations. These deals with progressed innovation suppliers offer assistance in advertising industry particular arrangements. The association with different industry players is developing to meet the expanding need for clean and environment-friendly operations. The key players are growing over different nations to attain worldwide nearness and boost deals income. List of Key Companies Profiled: IBM Corporation (U.S.), Bentley Systems, Inc. (U.S.), Aspen Technology, Inc. (U.S.), Honeywell International Inc. (U.S.), AVEVA Group Limited (U.S.), SAP SE (U.S.), Siemens AG (Munich), General Electric Company (U.S.), Cognite AS (Norway), Hitachi, Ltd. (Japan)
In November 2023 the company ABB propelled ABB ability Smart Master, a total resource execution administration stage for approval and condition checking of field gadgets and hardware in water, wastewater, oil & gas, chemical, and other businesses. Smart Master remotely collects, analyzes, and approves symptomatic information from disobedient without hindering the progressing estimation assignments.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 14.4% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Deployment
Cloud
On-premises
By Enterprise Type
Large Enterprises
Small & Medium Enterprises
By Type
Asset Integrity Management
Predictive Asset Management
Asset Strategy Optimization
Asset Reliability
Others (Field Service Management, Asset Health Management)
By Industry
Manufacturing
Government
Chemical
Oil & Gas
Energy & Utility
Healthcare
Others (Mining, Telecommunication)
By Region
North America (By Deployment, By Enterprise Type, By Type, By Industry, and By Country)
- U.S. (By Industry)
- Canada (By Industry)
- Mexico (By Industry)
South America (By Deployment, By Enterprise Type, By Type, By Industry, and By Country)
- Brazil (By Industry)
- Argentina (By Industry)
- Rest of South America
Europe (By Deployment, By Enterprise Type, By Type, By Industry, and By Country)
- U.K. (By Industry)
- Germany (By Industry)
- France (By Industry)
- Italy (By Industry)
- Spain (By Industry)
- Russia (By Industry)
- Benelux (By Industry)
- Nordics (By Industry)
- Rest of Europe
Middle East & Africa (By Deployment, By Enterprise Type, By Type, By Industry, and By Country)
- Turkey (By Industry)
- Israel (By Industry)
- GCC (By Industry)
- North Africa (By Industry)
- South Africa (By Industry)
- Rest of Middle East & Africa
Asia Pacific (By Deployment, By Enterprise Type, By Type, By Industry, and By Country)
- China (By Industry)
- Japan (By Industry)
- India (By Industry)
- South Korea (By Industry)
- ASEAN (By Industry)
- Oceania (By Industry)
- Rest of Asia Pacific
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Asset Performance Management Key Players Market Share Insights and Analysis, 2023
- 5. Global Asset Performance Management Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Deployment (USD)
- 5.2.1. Cloud
- 5.2.2. On-premises
- 5.3. By Enterprise Type (USD)
- 5.3.1. Large Enterprises
- 5.3.2. SMEs
- 5.4. By Type (USD)
- 5.4.1. Asset Integrity Management
- 5.4.2. Predictive Asset Management
- 5.4.3. Asset Strategy Optimization
- 5.4.4. Asset Reliability
- 5.4.5. Others (Field Service Management, Asset Health Management, etc.)
- 5.5. By Industry (USD)
- 5.5.1. Manufacturing
- 5.5.2. Government
- 5.5.3. Chemical
- 5.5.4. Oil & Gas
- 5.5.5. Energy & Utility
- 5.5.6. Healthcare
- 5.5.7. Others (Mining, Telecommunication, etc.)
- 5.6. By Region (USD)
- 5.6.1. North America
- 5.6.2. South America
- 5.6.3. Europe
- 5.6.4. Middle East & Africa
- 5.6.5. Asia Pacific
- 6. North America Asset Performance Management Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Deployment (USD)
- 6.2.1. Cloud
- 6.2.2. On-premises
- 6.3. By Enterprise Type (USD)
- 6.3.1. Large Enterprises
- 6.3.2. SMEs
- 6.4. By Type (USD)
- 6.4.1. Asset Integrity Management
- 6.4.2. Predictive Asset Management
- 6.4.3. Asset Strategy Optimization
- 6.4.4. Asset Reliability
- 6.4.5. Others (Field Service Management, Asset Health Management, etc.)
- 6.5. By Industry (USD)
- 6.5.1. Manufacturing
- 6.5.2. Government
- 6.5.3. Chemical
- 6.5.4. Oil & Gas
- 6.5.5. Energy & Utility
- 6.5.6. Healthcare
- 6.5.7. Others (Mining, Telecommunication, etc.)
- 6.6. By Country (USD)
- 6.6.1. United States
- 6.6.1.1. By Industry
- 6.6.2. Canada
- 6.6.2.1. By Industry
- 6.6.3. Mexico
- 6.6.3.1. By Industry
- 7. South America Asset Performance Management Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Deployment (USD)
- 7.2.1. Cloud
- 7.2.2. On-premises
- 7.3. By Enterprise Type (USD)
- 7.3.1. Large Enterprises
- 7.3.2. SMEs
- 7.4. By Type (USD)
- 7.4.1. Asset Integrity Management
- 7.4.2. Predictive Asset Management
- 7.4.3. Asset Strategy Optimization
- 7.4.4. Asset Reliability
- 7.4.5. Others (Field Service Management, Asset Health Management, etc.)
- 7.5. By Industry (USD)
- 7.5.1. Manufacturing
- 7.5.2. Government
- 7.5.3. Chemical
- 7.5.4. Oil & Gas
- 7.5.5. Energy & Utility
- 7.5.6. Healthcare
- 7.5.7. Others (Mining, Telecommunication, etc.)
- 7.6. By Country (USD)
- 7.6.1. Brazil
- 7.6.1.1. By Industry
- 7.6.2. Argentina
- 7.6.2.1. By Industry
- 7.6.3. Rest of South America
- 8. Europe Asset Performance Management Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Deployment (USD)
- 8.2.1. Cloud
- 8.2.2. On-premises
- 8.3. By Enterprise Type (USD)
- 8.3.1. Large Enterprises
- 8.3.2. SMEs
- 8.4. By Type (USD)
- 8.4.1. Asset Integrity Management
- 8.4.2. Predictive Asset Management
- 8.4.3. Asset Strategy Optimization
- 8.4.4. Asset Reliability
- 8.4.5. Others (Field Service Management, Asset Health Management, etc.)
- 8.5. By Industry (USD)
- 8.5.1. Manufacturing
- 8.5.2. Government
- 8.5.3. Chemical
- 8.5.4. Oil & Gas
- 8.5.5. Energy & Utility
- 8.5.6. Healthcare
- 8.5.7. Others (Mining, Telecommunication, etc.)
- 8.6. By Country (USD)
- 8.6.1. United Kingdom
- 8.6.1.1. By Industry
- 8.6.2. Germany
- 8.6.2.1. By Industry
- 8.6.3. France
- 8.6.3.1. By Industry
- 8.6.4. Italy
- 8.6.4.1. By Industry
- 8.6.5. Spain
- 8.6.5.1. By Industry
- 8.6.6. Russia
- 8.6.6.1. By Industry
- 8.6.7. Benelux
- 8.6.7.1. By Industry
- 8.6.8. Nordics
- 8.6.8.1. By Industry
- 8.6.9. Rest of Europe
- 9. Middle East & Africa Asset Performance Management Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Deployment (USD)
- 9.2.1. Cloud
- 9.2.2. On-premises
- 9.3. By Enterprise Type (USD)
- 9.3.1. Large Enterprises
- 9.3.2. SMEs
- 9.4. By Type (USD)
- 9.4.1. Asset Integrity Management
- 9.4.2. Predictive Asset Management
- 9.4.3. Asset Strategy Optimization
- 9.4.4. Asset Reliability
- 9.4.5. Others (Field Service Management, Asset Health Management, etc.)
- 9.5. By Industry (USD)
- 9.5.1. Manufacturing
- 9.5.2. Government
- 9.5.3. Chemical
- 9.5.4. Oil & Gas
- 9.5.5. Energy & Utility
- 9.5.6. Healthcare
- 9.5.7. Others (Mining, Telecommunication, etc.)
- 9.6. By Country (USD)
- 9.6.1. Turkey
- 9.6.1.1. By Industry
- 9.6.2. Israel
- 9.6.2.1. By Industry
- 9.6.3. GCC
- 9.6.3.1. By Industry
- 9.6.4. North Africa
- 9.6.4.1. By Industry
- 9.6.5. South Africa
- 9.6.5.1. By Industry
- 9.6.6. Rest of MEA
- 10. Asia Pacific Asset Performance Management Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Deployment (USD)
- 10.2.1. Cloud
- 10.2.2. On-premises
- 10.3. By Enterprise Type (USD)
- 10.3.1. Large Enterprises
- 10.3.2. SMEs
- 10.4. By Type (USD)
- 10.4.1. Asset Integrity Management
- 10.4.2. Predictive Asset Management
- 10.4.3. Asset Strategy Optimization
- 10.4.4. Asset Reliability
- 10.4.5. Others (Field Service Management, Asset Health Management, etc.)
- 10.5. By Industry (USD)
- 10.5.1. Manufacturing
- 10.5.2. Government
- 10.5.3. Chemical
- 10.5.4. Oil & Gas
- 10.5.5. Energy & Utility
- 10.5.6. Healthcare
- 10.5.7. Others (Mining, Telecommunication, etc.)
- 10.6. By Country (USD)
- 10.6.1. China
- 10.6.1.1. By Industry
- 10.6.2. Japan
- 10.6.2.1. By Industry
- 10.6.3. India
- 10.6.3.1. By Industry
- 10.6.4. South Korea
- 10.6.4.1. By Industry
- 10.6.5. ASEAN
- 10.6.5.1. By Industry
- 10.6.6. Oceania
- 10.6.6.1. By Industry
- 10.6.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. AVEVA Group Limited
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. IBM Corporation
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. SAP SE
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Honeywell International Inc.
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Bentley Systems, Inc.
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Aspen Technology, Inc.
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Cognite AS
- 11.7.1.
- 11.7.1.1. Overview
- 11.7.1.2. Key Management
- 11.7.1.3. Headquarters
- 11.7.1.4. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. General Electric Company
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Siemens AG
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Hitachi, Ltd.
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaway
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