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Global Asset Performance Management Market Share, Size, Analysis, Forecast: By Component: Solution, Service; By Deployment Mode: On-Premise, Cloud; By Organisation Size: Large Enterprises, Small and Medium Enterprises; By Industry Vertical: Energy and Utilities, Oil and Gas, Others; Regional Analysis; Competitive Landscape; 2023-2028
Global Asset Performance Management Market Outlook
The global asset performance management market attained a value about USD 3.9 billion in 2020. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 10.3% to reach about USD 6.90 billion by 2026.
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Growing Demand for Digital Asset Performance Management Solutions Bolstering the Market Growth
The market growth of asset performance management can be attributed to the rapid digitisation of various industries, such as manufacturing, chemical, and oil and gas, among others. This is leading to a surge in the deployment of several digital solutions to manage the performance of assets to minimise the risk and operating expenses, hence fuelling the market growth. Moreover, asset performance management solutions facilitate the decision-making process while surging the cost-effectiveness of the operation, due to which it is extensively adopted in leading industries, which, in turn, is driving the industry growth.
The growing awareness regarding the advantages and significance of asset performance management to enhance profitability among enterprises is expected to aid the market growth. In addition, the increasing popularity of digital asset performance management solutions and the potential integration of digital twin technology and industrial internet of things (IIoT) are expected to contribute remarkably towards the growth of the asset performance management industry in upcoming years.
Asset Performance Management: Market Segmentation
Asset performance management refers to the deployment of various assets to achieve specific business goals. It is the approach adopted by businesses to improve the availability and reliability of physical assets and profitability while minimising operating costs and risk. It can be multifunctional to perform both identifications of underperforming assets and then follow-up asset performance and identify any necessary actions for the production plant.
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The major components of asset performance management are:
- Solution
- Service
By deployment mode, the market is divided into:
- On-Premise
- Cloud
Based on organisation size, the market is bifurcated into:
- Large Enterprises
- Small and Medium Enterprises
The market can be broadly categorised on the basis of its industry vertical into:
- Energy and Utilities
- Oil and Gas
- Manufacturing
- Mining and Metals
- Healthcare and Life Sciences
- Chemical and Pharmaceuticals
- Government and Defence
- IT and Telecom
- Food and Beverages
- Others
The EMR report looks into the regional markets of asset performance management like North America, Europe, the Asia pacific, Latin America, and the Middle East and Africa.
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Rising Concerns over Plant Workers Health and Various Other Uses of APM to Augment the Market Growth
The growing deployment of asset performance management services and software solutions monitor the reliability and health of various assets, which is bolstering the market growth. As regulations concerning manufacturing plants are increasingly becoming more stringent, owing to growing environmental consciousness and rising concerns regarding labour exploitation, the requirement of constant monitoring of the plants is surging, which is escalating the deployment of asset performance management solutions.
In addition, the deployment of asset performance management solutions can prevent accidents by offering efficient preventive measures, which is further augmenting the market growth. Although the market growth may be hindered by the growing competition within the industry, the development of cost-efficient asset performance management solutions is expected to bolster the growth of the industry. Furthermore, the increasing demand to manage efficiency, health, and sustainability of assets while optimising their total cost of ownership is estimated to surge the adoption of asset performance management solutions, which is projected to drive the market growth in the forecast period.
Key Industry Players in the Global Asset Performance Management Market
The report presents a detailed analysis of the following key players in the global asset performance management market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- ABB Ltd
- SAP SE
- Oracle Corporation
- International Business Machines Corporation
- AVEVA Group plc
- Siemens Energy Global GmbH & Co. KG
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Deployment Mode, Organisation Size, Industry Vertical, Region |
| Breakup by Component | Solution, Service |
| Breakup by Deployment Mode | On-Premise, Cloud |
| Breakup by Organisation Size | Large Enterprises, Small and Medium Enterprises |
| Breakup by Industry Vertical | Energy and Utilities, Oil and Gas, Manufacturing, Mining and Metals, Healthcare and Life Sciences, Chemical and Pharmaceuticals, Government and Defence, IT and Telecom, Food and Beverages, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | ABB Ltd, SAP SE, Oracle Corporation, International Business Machines Corporation, AVEVA Group plc, Siemens Energy Global GmbH & Co. KG, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Asset Performance Management Market Analysis
8.1 Key Industry Highlights
8.2 Global Asset Performance Management Historical Market (2018-2022)
8.3 Global Asset Performance Management Market Forecast (2023-2028)
8.4 Global Asset Performance Management Market by Component
8.4.1 Solution
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Service
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Asset Performance Management Market by Deployment Mode
8.5.1 On-Premise
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Cloud
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Asset Performance Management Market by Organisation Size
8.6.1 Large Enterprises
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Small and Medium Enterprises
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Asset Performance Management Market by Industry Vertical
8.7.1 Energy and Utilities
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Oil and Gas
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Manufacturing
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Mining and Metals
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Healthcare and Life Sciences
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
8.7.6 Chemical and Pharmaceuticals
8.7.6.1 Market Share
8.7.6.2 Historical Trend (2018-2022)
8.7.6.3 Forecast Trend (2023-2028)
8.7.7 Government and Defence
8.7.7.1 Market Share
8.7.7.2 Historical Trend (2018-2022)
8.7.7.3 Forecast Trend (2023-2028)
8.7.8 IT and Telecom
8.7.8.1 Market Share
8.7.8.2 Historical Trend (2018-2022)
8.7.8.3 Forecast Trend (2023-2028)
8.7.9 Food and Beverages
8.7.9.1 Market Share
8.7.9.2 Historical Trend (2018-2022)
8.7.9.3 Forecast Trend (2023-2028)
8.7.10 Others
8.8 Global Asset Performance Management Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
9 North America Asset Performance Management Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Asset Performance Management Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Asset Performance Management Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Asset Performance Management Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Asset Performance Management Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 ABB Ltd
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 SAP SE
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Oracle Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 International Business Machines Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 AVEVA Group plc
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Siemens Energy Global GmbH & Co. KG
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Asset Performance Management Market: Key Industry Highlights, 2018 and 2028
2. Global Asset Performance Management Historical Market: Breakup by Component (USD Million), 2018-2022
3. Global Asset Performance Management Market Forecast: Breakup by Component (USD Million), 2023-2028
4. Global Asset Performance Management Historical Market: Breakup by Deployment Mode (USD Million), 2018-2022
5. Global Asset Performance Management Market Forecast: Breakup by Deployment Mode (USD Million), 2023-2028
6. Global Asset Performance Management Historical Market: Breakup by Organization Size (USD Million), 2018-2022
7. Global Asset Performance Management Market Forecast: Breakup by Organization Size (USD Million), 2023-2028
8. Global Asset Performance Management Historical Market: Breakup by Industry Vertical (USD Million), 2018-2022
9. Global Asset Performance Management Market Forecast: Breakup by Industry Vertical (USD Million), 2023-2028
10. Global Asset Performance Management Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global Asset Performance Management Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America Asset Performance Management Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America Asset Performance Management Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe Asset Performance Management Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe Asset Performance Management Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific Asset Performance Management Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific Asset Performance Management Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America Asset Performance Management Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America Asset Performance Management Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa Asset Performance Management Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa Asset Performance Management Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Global Asset Performance Management Market Structure
Key Questions Answered in the Report
The global asset performance management market attained a value of nearly USD 3.9 billion in 2020.
The market is projected to grow at a CAGR of 10.3% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 6.90 billion by 2026.
The market is being driven by the growing demand and popularity of digital asset performance management.
The rising concerns regarding labour safety, the increasing cost-effectiveness of asset performance management, and the growing deployment of asset performance management solutions in manufacturing plants are expected to aid the industry growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major components of asset performance management in the industry are solution and service.
The significant deployment modes of asset performance management are on-premise and cloud.
The different organisation sizes of asset performance management are large enterprises, and small and medium enterprises.
The various industry verticals of asset performance management are energy and utilities, oil and gas, manufacturing, mining and metals, healthcare and life sciences, chemical and pharmaceuticals, government and defence, IT and telecom, and food and beverages, among others.
The major players in the industry are ABB Ltd, SAP SE, Oracle Corporation, International Business Machines Corporation, AVEVA Group plc, and Siemens Energy Global GmbH & Co. KG, among others.
Analyst Review
The global asset performance management market attained a value of about USD 3.9 billion in 2020, driven by the growing demand and popularity of digital asset performance management. Aided by the increasing cost-effectiveness of asset performance management, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 10.3%. The market is projected to reach approximately USD 6.90 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on components, the global asset performance management industry can be segmented into solutions and services. On the basis of deployment mode, the industry is divided into on-premise and cloud. By organisation size, the market can be categorised into large enterprises, and small and medium enterprises. Based on industry vertical, the industry can be segmented into energy and utilities, oil and gas, manufacturing, mining and metals, healthcare and life sciences, chemical and pharmaceuticals, government and defence, IT and telecom, and food and beverages, among others. The major regional markets for asset performance management are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include ABB Ltd, SAP SE, Oracle Corporation, International Business Machines Corporation, AVEVA Group plc, and Siemens Energy Global GmbH & Co. KG, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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