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"GE Vernova (US), AVEVA (UK), ABB (Switzerland), IBM (US), SAP (Germany), Fluke (US), Emerson (US), Rockwell Automation (US), Honeywell (US)."Asset Performance Management Market by Solution (Predictive Maintenance & Analytics, Asset Reliability & Condition Monitoring, Sustainability & Emission), Asset Type (Infrastructure, Facility, IT/OT, Rotating Equipment, Mobile) - Global Forecast to 2030.

The Asset Performance Management Market is expected to develop at a compound annual growth rate (CAGR) of 10.5% from 2025 to 2030, from an estimated USD 2.16 billion to USD 3.55 billion. Four key factors are reshaping the asset performance management (APM) market. By providing real-time anomaly detection, condition monitoring, and advanced analytics that prolong asset lifecycles and lower unplanned failures, the growing use of predictive and prescriptive maintenance revolutionizes operations. Deployment paradigms are being redefined by the swift transition to cloud and SaaS-based APM solutions, which provide businesses with scalability, quicker time-to-value, and smooth upgrades without requiring significant infrastructure investments.

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Among solutions, sustainability & emission management is set to register the largest market share during the forecast period

Sustainability & emission management are becoming strategic priorities in the asset performance management market as regulatory pressure, investor demands, and corporate ESG goals force enterprises to better measure, reduce, and report carbon footprints. New vendors can capture market share by offering systems that automate emission monitoring, integrate energy consumption data, and generate auditable reporting, aligned with Scope 1, 2, and increasingly Scope 3. An illustrative deal is ABB's press release of August 2024 acquisition of Germany-based Födisch Group, which strengthened ABB's capabilities in continuous emission monitoring systems (CEMS), enhancing its measurement & analytics portfolio in response to stricter environmental regulations. Another case is Schneider Electric's September 2024 launch of Zeigo Activate Lite, a freemium version of its emissions management SaaS platform that enables users to calculate baselines, set decarbonization targets, and track Scope 1 and 2 emissions. These moves show that customers demand accessible tools that not only monitor emissions but also push for actionable insights and transparency. For emerging vendors, the opportunity is to provide modular emission-monitoring hardware, data pipelines for utility/energy usage, dashboards compliant with reporting standards, and subscription models tied to emission reductions. Vendors who deliver fast deployment, strong interoperability with energy and asset systems, and auditing features will win in sustainability-driven APM procurement.

Among implementation & support services, managed services are poised to experience the highest growth rate during the forecast period

The managed services are expected to showcase the highest CAGR in the asset performance management market. Managed services in the APM market encompass continuous monitoring, system updates, data processing, alerting, and maintenance of the platform itself, often offered as an ongoing subscription. Customers benefit when they do not have high internal capacity for analytics, reliability engineering, or system operations. One illustrative move is Emerson's May 2024 introduction of a managed APM service plan for rotating equipment, which includes sensor provisioning, cloud analytics, and regular reporting to reduce unexpected failures, as stated in the press release of the company. Managed services appeal particularly to mid-market and asset-intensive customers seeking lower upfront costs and predictable ongoing fees. Vendors can succeed by building remote monitoring centers, offering tiered service levels (from basic alerting to complete diagnosis and recommendations), and ensuring SLAs around uptime, false positives, and response times. Key enablers include scalable data infrastructure, diagnostic model maintenance, and strong customer communication channels. With managed services, assets' health is maintained proactively, reducing lifecycle cost and downtime, while vendors obtain recurring revenue.

North America is estimated to account for the largest market during the forecast period

The North American asset performance management (APM) market is becoming increasingly attractive for new and emerging vendors as regulatory mandates and industrial transformation converge. In November 2024, the Canadian government released a press statement and introduced draft regulations requiring the oil and gas sector to cut emissions by up to 35% compared to 2019 levels, a measure that is accelerating the adoption of predictive monitoring and optimization tools to improve asset reliability while ensuring compliance. In March 2024, the US Environmental Protection Agency finalized new emissions standards for heavy-duty vehicles under Phase 3 GHG rules, compelling manufacturers and transportation operators to invest in asset efficiency, lifecycle management, and real-time diagnostics to meet stricter sustainability and performance requirements. These shifts are opening opportunities for APM providers to deliver solutions that integrate IoT, advanced analytics, and digital twin technologies tailored to the operational and regulatory needs of asset-intensive industries. By focusing on compliance-driven features, modular deployment, and partnerships with OEMs and cloud platforms, new entrants can establish strong footholds in energy, utilities, and transport sectors. The region's combination of stringent regulations, modernization initiatives, and demand for operational resilience positions North America as one of the most attractive markets for innovative APM vendors.

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What is Asset Performance Management (APM) and why is it important for businesses today?

Asset Performance Management (APM) is a strategic approach that uses data, software, and services to maximize the reliability, availability, and operational efficiency of physical assets throughout their lifecycle. Unlike traditional maintenance, APM incorporates predictive analytics, condition monitoring, digital twins, and risk-based assessments to prevent unexpected failures and reduce downtime. It integrates real-time data with enterprise systems, enabling data-driven decisions on maintenance, asset utilization, and resource allocation. As industries increasingly digitize operations, APM is vital for optimizing asset performance, extending asset lifecycles, reducing unplanned downtime, and ultimately improving return on investment (RoI) while supporting sustainability and operational resilience.

What are the major drivers and challenges shaping the APM market?

The key drivers include the rising adoption of predictive and prescriptive maintenance techniques that forecast and prevent asset failures, enabling real-time corrective actions and enhancing asset longevity. Additionally, the rapid shift toward cloud-based and SaaS APM solutions has boosted scalability and cost efficiency for organizations. However, the market faces challenges such as a shortage of skilled professionals with expertise in industrial IoT and predictive analytics, cybersecurity concerns in data workflows from edge to cloud, and difficulties integrating modern APM platforms with legacy infrastructure that is often proprietary and fragmented. These challenges necessitate flexible solutions and investment in skill development.

Which industry verticals and asset types dominate the APM market?

Manufacturing leads the vertical segment due to its reliance on uninterrupted throughput, robotics, and automation. APM solutions here support predictive maintenance, digital twins, and real-time analytics that improve production efficiency, energy use, and product quality. Among asset types, facility assets-including plants, utilities, and warehouses-hold the largest market share, as their efficient management directly reduces operational costs and protects high-value investments. The critical role of these assets in capital-intensive environments makes them prime candidates for IoT-enabled monitoring and analytics.

What future trends and opportunities are emerging in APM?

A major opportunity lies in addressing rising sustainability and ESG compliance needs, where APM solutions help optimize asset utilization, reduce energy consumption, and minimize emissions. Advanced analytics and digital twins are increasingly used for transparency and sustainability reporting. The integration of AI and IoT, combined with real-time edge analytics, continues to drive innovation in autonomous asset monitoring and control. Growing emphasis on carbon tracking and green IT operations also opens new market adjacencies for APM providers. However, overcoming legacy system integration challenges remains critical for expanded adoption.

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Top Companies in the Asset Performance Management Market

The major players in the asset performance management market include GE Vernova (US), AVEVA (UK), ABB (Switzerland), IBM (US), SAP (Germany), Fluke (US), Emerson (US), Rockwell Automation (US), and Honeywell (US).

ABB

ABB is strengthening its position in the asset performance management market with strategies focused on AI-driven analytics, cloud-based platforms, and modular solutions that enhance reliability and operational efficiency. The company's core competencies include the Genix APM suite with predictive, prescriptive, risk-based maintenance, generative AI capabilities through Genix APM Copilot, digital twin modeling, IIoT integration, edge to cloud connectivity, and domain-specific instrumentation diagnostics. The company has been highly active in recent years. In November 2023, ABB launched the ABB Ability SmartMaster platform in India to provide digital asset performance management for instrumentation across water, wastewater, chemical, and oil & gas sectors. In October 2024, ABB entered a multi-year global framework agreement with BHP to collaborate on operations, maintenance, and decarbonization of mining and processing assets. In 2025, ABB introduced generative AI into its Genix APM suite through the Copilot functionality. ABB combines vertically integrating hardware, software, and services with horizontal expansion into digital ecosystems and industrial partnerships.

IBM

IBM is reinforcing its position in the asset performance management market with strategies focused on hybrid cloud adoption, SaaS based delivery, and targeted industry solutions that simplify asset monitoring and maintenance. The company's core competencies are anchored in the Maximo Application Suite, which offers predictive maintenance, condition monitoring, digital twin capabilities, IoT data integration, and machine learning tools for early fault detection. The company has been active in recent years in expanding its portfolio. In June 2023, IBM acquired Apptio to strengthen automation and cost management offerings. In July 2024, it completed the acquisition of StreamSets and webMethods, improving data integration and connectivity across enterprise applications. In October 2024, IBM acquired Prescinto, adding Maximo's renewable energy monitoring and optimization functions. Through these steps, IBM combines vertical integration by linking monitoring, analytics, and operational workflows with horizontal expansion into new data tools, renewable energy capabilities, and cloud partnerships, ensuring greater value and efficiency for global industries.

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