Asset Performance Management Market Expands Global Installations

The global asset performance management (APM) market size was valued at USD 23.75 billion in 2024 and is projected to reach USD 47.18 billion by 2030, expanding at a CAGR of 12.2% from 2025 to 2030. The increasing adoption of industrial sensors continues to accelerate the deployment of APM solutions across critical sectors.

Key Market Trends & Insights

• North America dominated the asset performance management industry with a 33.0% share in 2024.
• In the U.S., the market is expected to grow significantly at a CAGR of 11.3% from 2025 to 2030.
• Based on category, the asset reliability management segment accounted for over 33.0% of the revenue share in 2024.
• By deployment, the on-premise segment held the largest share of over 63.0% in 2024.
• Among verticals, the energy & utilities segment led the market with over 18.0% share in 2024.

Market Size & Forecast

• 2024 Market Size: USD 23.75 Billion
• 2030 Market Size: USD 47.18 Billion
• CAGR (2025–2030): 12.2%
• North America: Largest regional market
• Asia Pacific: Fastest-growing regional market

The rapid deployment of APM solutions is being supported by advancements in digital twin technology, which enhances asset efficiency and utilization. By leveraging virtual models of physical assets, organizations can simulate performance scenarios, predict failures, and make more informed decisions. This analytical capability contributes to improved operational reliability and optimized asset usage.

The market is also driven by the increasing shift toward digital APM tools across the oil & gas, public sector, utilities, and government industries. Integration of technologies such as the Industrial Internet of Things (IIoT) and digital twins is strengthening the analytical depth of APM platforms, creating smarter and more efficient workflows.

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Key Asset Performance Management Company Insights

Major market players—including ABB, IBM Corporation, AVEVA Group Limited, GE Vernova, and SAP SE—are actively pursuing partnerships, product innovations, and strategic acquisitions to strengthen their market position.

• October 2024: IBM Corporation acquired Prescinto, an AI-powered renewable energy asset performance platform, to enhance its Maximo Application Suite (MAS) and support the global shift toward renewable energy management.
• August 2024: SAP SE integrated an AI-powered copilot into its APM solution, enabling natural language–based assistance and improved workflow automation for asset management.

Leading Asset Performance Management Companies

• ABB
• Aspen Technology Inc
• AVEVA Group Limited
• Bentley Systems, Incorporated
• DNV GLAS
• GE Vernova
• IBM Corporation
• Rockwell Automation
• SAP SE
• SAS Institute, Inc.
• Siemens Energy

Conclusion

The asset performance management market is entering a phase of strong expansion, driven by IIoT adoption, digital twins, and advanced analytics. As industries prioritize operational reliability, sustainability, and cost efficiency, APM solutions are becoming essential for enabling predictive maintenance, reducing downtime, and maximizing asset value. With ongoing technological advancements and strong adoption across energy, utilities, manufacturing, and public sectors, the APM market is poised for continued growth through 2030.

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