Asset Performance Management Market To Reach $67.50 Billion By 2033

Asset Performance Management Market Growth & Trends

The global asset performance management market size is expected to reach USD 67.50 billion by 2033, registering a CAGR of 12.5% from 2026 to 2033, according to a new report by Grand View Research, Inc. The Asset Performance Management market has evolved during time in response to technological advancements and the changing needs of the incumbents in many end-use industries and sectors, particularly small and medium businesses.

The market for asset performance management is predicted to increase due to the growing usage of APM solutions to achieve operational excellence. Companies are becoming more capable of maximizing the use and upkeep of their operational assets, such as plants, equipment, and infrastructure. Heavy machinery, heavy equipment, turbine engines, power transformers, and other possessions are among the assets that firms adopting APM systems regularly monitor.

The market witnessed significant growth during the COVID-19 outbreak.  Growth in the adoption of the work-from-home model by organizations created the need for secure, scalable, reliable, and cost-effective off-premises and virtual technology services. Organizations from all sectors invested considerably in cloud computing solutions to facilitate their operations and engage clients and employees effortlessly. Thus, asset performance management provided several growth opportunities to marketers during the pandemic.

The asset performance management system includes various solutions such as asset strategy and risk management, predictive asset management, reliability-centered maintenance, and condition-based maintenance, among others. These have a high demand from end-use industries such as energy & utilities, mining & metal, oil & gas, and manufacturing. The manufacturing industry is expected to emerge as one of the prominent markets in terms of revenue during the forecast period. The APM systems, coupled with IIoT, and the increasing adoption of cloud solutions are expected to be crucial factors for the steady growth of the market. Moreover, cloud-based APM systems are enabling companies to manage their assets cost-effectively.

The energy & utilities industry segment holds the largest share owing to the high number of customers who are actively investing in APM systems to manage their assets. For instance, Tata Power, one of the largest power companies from India, is leveraging AVEVA Group plc.’s PRiSM Predictive Asset Analytics for equipment problems and early warning notifications. The APM system helped Tata Power to achieve improved reliability and performance of its critical assets. Additionally, the system contributed to control the maintenance costs by its predictive analysis.

Furthermore, the asset performance management market is highly competitive and fragmented, wherein few companies hold the maximum market share. Consistent dominance in the market by legacy companies can be attributed to investments in research and development of advanced cloud-based services, which has been one of the key factors driving their revenues. However, growth in the introduction of advanced cloud solutions and related offerings by start-ups is also creating significant traction in the global market.

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Asset Performance Management Market Report Highlights

• The asset reliability management segment led the market with the largest revenue share of 32.5% in 2025.

• The on-premises segment accounted for the largest market revenue share in 2025, due to industries with stringent data sensitivity and regulatory requirements.

• The energy & utilities segment accounted for the largest market revenue share in 2025. Companies in the energy and utility sectors are essential to improving the environment by helping in refining, extracting, or producing sources of energy.

• North America dominated the global asset performance management market with the largest revenue share of 33.4% in 2025

Asset Performance Management Market Segmentation

Grand View Research has segmented the global asset performance management market on the basis of on category, deployment, vertical, and region:

Asset Performance Management Category Outlook (Revenue, USD Billion, 2021 - 2033)

• Predictive Asset Management

• Asset Reliability Management

• Asset Strategy Management

• Others

Asset Performance Management Deployment Outlook (Revenue, USD Billion, 2021 - 2033)

• On Premises

• Hosted

  • Public Cloud

  • Private Cloud

Asset Performance Management Vertical Outlook (Revenue, USD Billion, 2021 - 2033)

• Energy & Utilities

• Oil & Gas

• Manufacturing

• Mining & Metal

• Government & Public Sector

• Transportation

• Chemicals & Pharmaceutical

• Others

Asset Performance Management Regional Outlook (Revenue, USD Billion, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East & Africa

  • UAE

  • Saudi Arabia

  • South Africa

List of Key Players in the Asset Performance Management Market

• ABB

• Aspen Technology Inc

• AVEVA Group Limited

• Bentley Systems, Incorporated

• DNV

• GE Vernova

• IBM Corporation

• Rockwell Automation

• SAP SE

• SAS Institute, Inc.

• Siemens Energy