Reports

Asset Performance Management Market

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; 2024-2032

Global Asset Performance Management Market Outlook

The global asset performance management market attained a value about USD 4.74 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 10.3% to reach about USD 8.39 billion by 2032.          

 

Global Asset Performance Management Market

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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.

 

Global Asset Performance Management Market by Segment

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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.

 

Global Asset Performance Management Market by Region

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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 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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 (2018-2023) 
    8.3    Global Asset Performance Management Market Forecast (2024-2032)
    8.4    Global Asset Performance Management Market by Component
        8.4.1    Solution
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Service
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Asset Performance Management Market by Deployment Mode
        8.5.1    On-Premise
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Cloud
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Asset Performance Management Market by Organisation Size
        8.6.1    Large Enterprises
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Small and Medium Enterprises
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global Asset Performance Management Market by Industry Vertical
        8.7.1    Energy and Utilities
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Oil and Gas
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Manufacturing
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Mining and Metals
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Healthcare and Life Sciences 
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
        8.7.6    Chemical and Pharmaceuticals
            8.7.6.1    Historical Trend (2018-2023)
            8.7.6.2    Forecast Trend (2024-2032)
        8.7.7    Government and Defence
            8.7.7.1    Historical Trend (2018-2023)
            8.7.7.2    Forecast Trend (2024-2032)
        8.7.8    IT and Telecom
            8.7.8.1    Historical Trend (2018-2023)
            8.7.8.2    Forecast Trend (2024-2032)
        8.7.9    Food and Beverages 
            8.7.9.1    Historical Trend (2018-2023)
            8.7.9.2    Forecast Trend (2024-2032)
        8.7.10    Others
    8.8    Global Asset Performance Management Market by Region       
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032) 
9    North America Asset Performance Management Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Asset Performance Management Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Asset Performance Management Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Asset Performance  Management Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Asset Performance Management Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    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 2032
2.    Global Asset Performance Management Historical Market: Breakup by Component (USD Million), 2018-2023
3.    Global Asset Performance Management Market Forecast: Breakup by Component (USD Million), 2024-2032
4.    Global Asset Performance Management Historical Market: Breakup by Deployment Mode (USD Million), 2018-2023
5.    Global Asset Performance Management Market Forecast: Breakup by Deployment Mode (USD Million), 2024-2032
6.    Global Asset Performance Management Historical Market: Breakup by Organization Size (USD Million), 2018-2023
7.    Global Asset Performance Management Market Forecast: Breakup by Organization Size (USD Million), 2024-2032
8.    Global Asset Performance Management Historical Market: Breakup by Industry Vertical (USD Million), 2018-2023
9.    Global Asset Performance Management Market Forecast: Breakup by Industry Vertical (USD Million), 2024-2032
10.    Global Asset Performance Management Historical Market: Breakup by Region (USD Million), 2018-2023
11.    Global Asset Performance Management Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America Asset Performance Management Historical Market: Breakup by Country (USD Million), 2018-2023
13.    North America Asset Performance Management Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Europe Asset Performance Management Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Europe Asset Performance Management Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Asia Pacific Asset Performance Management Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Asia Pacific Asset Performance Management Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Latin America Asset Performance Management Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Latin America Asset Performance Management Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Middle East and Africa Asset Performance Management Historical Market: Breakup by Country (USD Million), 2018-2023
21.    Middle East and Africa Asset Performance Management Market Forecast: Breakup by Country (USD Million), 2024-2032
22.    Global Asset Performance Management Market Structure

Key Questions Answered in the Report

What was the global asset performance management market size in 2023?

The global asset performance management market attained a value of nearly USD 4.74 billion in 2023.

What is the growth rate of the global asset performance management market?

The market is projected to grow at a CAGR of 10.3% between 2024 and 2032.

What is the forecast outlook of the global asset performance management market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 8.39 billion by 2032.          

What are the major market drivers?

The market is being driven by the growing demand and popularity of digital asset performance management and the growing deployment of asset performance management solutions in manufacturing plants.

What are the key trends of the market?

Rising concerns regarding labour safety and the increasing cost-effectiveness of asset performance management are the key trends of the market.

What are the major regional markets of asset performance management, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the leading components of asset performance management in the market?

The leading components of asset performance management in the market are solution and service.

What are the significant deployment modes of asset performance management in the market?

The significant deployment modes of asset performance management are on-premise and cloud.

What are the different organisation sizes of asset performance management in the market?

The different organisation sizes of asset performance management are large enterprises, and small and medium enterprises.

What are the various industry verticals of asset performance management?

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.

Who are the key market players, according to the report?

The key players in the global asset performance management market 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 4.74 billion in 2023, 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 2024-2032, growing at a CAGR of 10.3%. The market is projected to reach approximately USD 8.39 billion by 2032.          

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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