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Global Asset Performance Management Market Size, Share, & Trends Analysis Report by Category (Predictive Asset Management, Asset Reliability Market), by Deployment (On-premise, Hosted), by Vertical, and Segment Forecasts, 2022-2030

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    Report

  • 161 Pages
  • June 2022
  • Region: Global
  • Grand View Research
  • ID: 5626265
Description Jump to:
The global asset performance management market size is expected to reach USD 47.18 billion by 2030, registering a CAGR of 11.8% from 2022 to 2030. The market has evolved in response to technological advancements and the changing needs of 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 increasing usage of asset performance management (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 assets are among the assets that firms adopting APM systems regularly monitor.



The market witnessed significant growth during the COVID-19 pandemic. 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 over the forecast period. The APM systems, coupled with IIoT, and increasing adoption of cloud solutions are expected to be the 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 in India, is leveraging AVEVA Group plc’s PRiSM Predictive Asset Analytics for equipment problems and early warning notification. The APM system helped Tata Power to achieve improved reliability and performance of their critical assets. Additionally, the system contributed to control the maintenance costs through its predictive analysis

Furthermore, the 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.

Asset Performance Management Market Report Highlights

  • The market is gaining traction owing to the rapid industrial shift towards digitization of monitoring and maintenance activities. The companies are actively investing in digital solutions to manage their assets..
  • The use of advanced processes and tools such as regression analysis, neural network analysis, Monte Carlo simulation, and so on in the APM systems is driving the growth of the predictive asset management segment..
  • The public cloud segment is expected to register significant growth over the forecast period as it helps businesses in improving cost structures and setting up a control center to arrange, monitor, and coordinate various components of their businesses..
  • The manufacturing industry segment is held a significant share in the market owing to the presence of many small and large manufacturing plants across the globe..
  • Asia Pacific is anticipated to register the highest growth rate over the forecast period owing to the increasing popularity of social media, growing investments by tech giants in establishing IT infrastructures in this region, and the rising preference for e-commerce and m-commerce, particularly in emerging economies such as India, Indonesia, and Thailand..


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Table of Contents

Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Asset performance management Market-Industry Snapshot & Key Buying Criteria, 2017-2030
2.2 Global Asset performance management Market, 2017-2030
2.2.1 Global asset performance management market, by region, 2017-2030
2.2.2 Global asset performance management market, by category, 2017-2030
2.2.3 Global asset performance management market, by deployment, 2017-2030
2.2.4 Global asset performance management market, by vertical, 2017-2030
Chapter 3 Asset performance management Market-Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market Size and Growth Prospects
3.3 Asset performance management Market-Value Chain Analysis
3.3.1 Vendor landscape
3.4 Asset performance management Market-Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Integration of APM with complementary technologies for more efficient use cases
3.4.1.2 The growing adoption of cloud-based APM and increasing data security.
3.4.2 Market opportunity analysis
3.4.2.1 The rapid industrial shift towards digitization of asset monitoring and maintenance activities
3.5 Penetration and Growth Prospect Mapping
3.6 Asset performance management Market-Porter’s Five Forces Analysis
3.7 Asset performance management Market-PESTEL Analysis
Chapter 4 Asset performance management Category Outlook
4.1 Asset performance management Market Share By category, 2021
4.2 Predictive Asset Management
4.2.1 Predictive Asset Management asset performance management market, 2017-2030
4.3 Asset Reliability
4.3.1 Asset Reliability asset performance management market, 2017-2030
4.4 Asset Strategy Management
4.4.1 Asset Strategy Management asset performance management market, 2017-2030
4.5 Others
4.5.1 Others asset performance management market, 2017-2030
Chapter 5 Asset performance management Deployment Outlook
5.1 Asset performance management Market Share By Deployment, 2021
5.2 On-premise
5.2.1 On-premise asset performance management market, 2017-2030
5.3 Hosted
5.3.1 Hosted asset performance management market, 2017-2030
5.3.1.1 Public Cloud
5.3.1.1.1 Public Cloud asset performance management market, 2017-2030
5.3.2.1 Private Cloud
5.3.2.1.1 Private Cloudasset performance management market, 2017-2030
Chapter 6 Asset performance management Vertical Outlook
6.1 Asset performance management Market Share By Vertical, 2021
6.2 Energy and Utilities
6.2.1 Asset performance management in energy and utilities, 2017-2030
6.3 Oil & Gas
6.3.1 Asset performance management in oil & gas, 2017-2030
6.4 Manufacturing
6.4.1 Asset performance management in manufacturing, 2017-2030
6.5 Metal & Mining
6.5.1 Asset performance management in metal & mining, 2017-2030
6.6 Transportation
6.6.1 Asset performance management in transportation, 2017-2030
6.7 Government & Public Sector
6.7.1 Asset performance management in government & public sector, 2017-2030
6.8 Chemical & Pharmaceutical
6.8.1 Asset performance management in chemical & pharmaceutical, 2017-2030
6.9 Others
6.9.1 Asset performance management in other verticals, 2017-2030
Chapter 7 Asset performance management Regional Outlook
7.1 Asset performance management Market Share by Region, 2021
7.2 North America
7.2.1 North America asset performance management market, 2017-2030
7.2.2 North America asset performance management market, by category, 2017-2030
7.2.3 North America asset performance management market, by deployment, 2017-2030
7.2.4 North America asset performance management market, by vertical, 2017-2030
7.2.5 U.S.
7.2.5.1 U.S. asset performance management market, 2017-2030
7.2.5.2 U.S. asset performance management market, by category, 2017-2030
7.2.5.3 U.S. asset performance management market, by deployment, 2017-2030
7.2.5.4 U.S. asset performance management market, by vertical, 2017-2030
7.2.6 Canada
7.2.6.1 Canada asset performance management market, 2017-2030
7.2.6.2 Canada asset performance management market, by category, 2017-2030
7.2.6.3 Canada asset performance management market, by deployment, 2017-2030
7.2.6.4 Canada asset performance management market, by vertical, 2017-2030
7.3 Europe
7.3.1 Europe asset performance management market, 2017-2030
7.3.2 Europe asset performance management market, by category, 2017-2030
7.3.3 Europe asset performance management market, by deployment, 2017-2030
7.3.4 Europe asset performance management market, by vertical, 2017-2030
7.3.5 Germany
7.3.5.1 Germany asset performance management market, 2017-2030
7.3.5.2 Germany asset performance management market, by category, 2017-2030
7.3.5.3 Germany asset performance management market, by deployment, 2017-2030
7.3.5.4 Germany asset performance management market, by vertical, 2017-2030
7.3.6 U.K.
7.3.6.1 U.K. asset performance management market, 2017-2030
7.3.6.2 U.K. asset performance management market, by category, 2017-2030
7.3.6.3 U.K. asset performance management market, by deployment, 2017-2030
7.3.6.4 U.K. asset performance management market, by vertical, 2017-2030
7.4 Asia Pacific
7.4.1 Asia Pacific asset performance management market, 2017-2030
7.4.2 Asia Pacific asset performance management market, by category, 2017-2030
7.4.3 Asia Pacific asset performance management market, by deployment, 2017-2030
7.4.4 Asia Pacific asset performance management market, by vertical, 2017-2030
7.4.5 China
7.4.5.1 China asset performance management market, 2017-2030
7.4.5.2 China asset performance management market, by category, 2017-2030
7.4.5.3 China asset performance management market, by deployment, 2017-2030
7.4.5.4 China asset performance management market, by vertical, 2017-2030
7.4.6 India
7.4.6.1 India asset performance management market, 2017-2030
7.4.6.2 India asset performance management market, by category, 2017-2030
7.4.6.3 India asset performance management market, by deployment, 2017-2030
7.4.6.4 India asset performance management market, by vertical, 2017-2030
7.4.7 Japan
7.4.7.1 Japan asset performance management market, 2017-2030
7.4.7.2 Japan asset performance management market, by category, 2017-2030
7.4.7.3 Japan asset performance management market, by deployment, 2017-2030
7.4.7.4 Japan asset performance management market, by vertical, 2017-2030
7.5 Latin America
7.5.1 Latin America asset performance management market, 2017-2030
7.5.2 Latin America asset performance management market, by category, 2017-2030
7.5.3 Latin America asset performance management market, by deployment, 2017-2030
7.5.4 Latin America asset performance management market, by vertical, 2017-2030
7.5.5 Mexico
7.5.5.1 Mexico asset performance management market, 2017-2030
7.5.5.2 Mexico asset performance management market, by category, 2017-2030
7.5.5.3 Mexico asset performance management market, by deployment, 2017-2030
7.5.5.4 Mexico asset performance management market, by vertical, 2017-2030
7.6 MEA
7.6.1 MEA asset performance management market, 2017-2030
7.6.2 MEA asset performance management market, by category, 2017-2030
7.6.3 MEA asset performance management market, by deployment, 2017-2030
7.6.4 MEA asset performance management market, by vertical, 2017-2030
Chapter 8 Competitive Analysis
8.1 Recent Developments & Impact Analysis, By Key Market Participants
8.2 Company/Competition Categorization (Key innovators, Market leaders, Emerging Players)
8.3 Vendor Landscape
8.3.1 Key Company Analysis, 2021
Chapter 9 Competitive Landscape
9.1 ABB Ltd
9.1.1 Company overview
9.1.2 Financial performance
9.1.3 Product benchmarking
9.1.4 Strategic initiatives
9.2 AVEVA Group plc
9.2.1 Company overview
9.2.2 Financial performance
9.2.3 Product benchmarking
9.2.4 Strategic initiatives
9.3 Aspen Technology Inc.
9.3.1 Company overview
9.3.2 Financial performance
9.3.3 Product benchmarking
9.3.4 Strategic initiatives
9.4 International Business Machines Corporation
9.4.1 Company overview
9.4.2 Financial performance
9.4.3 Product benchmarking
9.4.4 Strategic initiatives
9.5 Bentley Systems, Incorporated
9.5.1 Company overview
9.5.2 Financial performance
9.5.3 Product benchmarking
9.5.4 Strategic initiatives
9.6 DNV GLAS
9.6.1 Company overview
9.6.2 Financial performance
9.6.3 Product benchmarking
9.6.4 Strategic initiatives
9.7 GE Digital
9.7.1 Company overview
9.7.2 Product benchmarking
9.7.3 Strategic initiatives
9.8 SAP SE
9.8.1 Company overview
9.8.2 Financial performance
9.8.3 Product benchmarking
9.8.4 Strategic initiatives
9.9 SAS Institute, Inc.
9.9.1 Company overview
9.9.2 Financial performance
9.9.3 Product benchmarking
9.9.4 Strategic initiatives
9.10 Siemens AG
9.10.1 Company overview
9.10.2 Financial performance
9.10.3 Product benchmarking
9.10.4 Strategic initiatives
List of Tables
Table 1 Asset Performance Management Market-Industry snapshot & key buying criteria, 2017-2030
Table 2 Global Asset Performance Management Market, 2017-2030 (USD Billion)
Table 3 Global Asset Performance Management Market, by region, 2017-2030 (USD Billion)
Table 4 Global Asset Performance Management Market, by category 2017-2030 (USD Billion)
Table 5 Global Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 6 Global Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
Table 7 Vendor landscape
Table 8 Asset Performance Management Market-Key Market driver impact
Table 9 Asset Performance Management Market-Key Market opportunity impact
Table 10 Predictive Asset Management Asset Performance Management Market, 2017-2030 (USD Billion)
Table 11 Predictive Asset Management Asset Performance Management Market, by region, 2017-2030 (USD Billion)
Table 12 Asset Reliability Management Asset Performance Management Market, 2017-2030 (USD Billion)
Table 13 Asset Reliability Management Asset Performance Management Market, by region, 2017-2030 (USD Billion)
Table 14 Asset Strategy Management Asset Performance Management Market, 2017-2030 (USD Billion)
Table 15 Asset Strategy Management Asset Performance Management Market, by region, 2017-2030 (USD Billion)
Table 16 Others Asset Performance Management Market, 2017-2030 (USD Billion)
Table 17 Others Asset Performance Management Market, by region, 2017-2030 (USD Billion)
Table 18 Hosted Asset Performance Management Market, 2017-2030 (USD Billion)
Table 19 Hosted Asset Performance Management Market, by region, 2017-2030 (USD Billion)
Table 20 Public cloud Asset Performance Management Market, by region, 2017-2030 (USD Billion)
Table 21 Private cloud Asset Performance Management Market, by region, 2017-2030 (USD Billion)
Table 22 On-premise Asset Performance Management Market, 2017-2030 (USD Billion)
Table 23 On-premise Asset Performance Management Market, by region, 2017-2030 (USD Billion)
Table 24 Asset Performance Management in Energy & Utilities, 2017-2030 (USD Billion)
Table 25 Asset Performance Management in Energy & Utilities, by region, 2017-2030 (USD Billion)
Table 28 Asset Performance Management in Oil & Gas, 2017-2030 (USD Billion)
Table 29 Asset Performance Management in Oil & Gas, by region, 2017-2030 (USD Billion)
Table 30 Asset Performance Management in Manufacturing, 2017-2030 (USD Billion)
Table 31 Asset Performance Management in Manufacturing, by region, 2017-2030 (USD Billion)
Table 32 Asset Performance Management in Metal & Mining, 2017-2030 (USD Billion)
Table 33 Asset Performance Management in Metal & Mining, by region, 2017-2030 (USD Billion)
Table 34 Asset Performance Management in Transportation, 2017-2030 (USD Billion)
Table 35 Asset Performance Management in Transportation, by region, 2017-2030 (USD Billion)
Table 36 Asset Performance Management in Government & Public Sector, 2017-2030 (USD Billion)
Table 37 Asset Performance Management in Government & Public Sector, by region, 2017-2030 (USD Billion)
Table 38 Asset Performance Management in Chemical & Pharmaceutical, 2017-2030 (USD Billion)
Table 39 Asset Performance Management in Chemical & Pharmaceutical, by region, 2017-2030 (USD Billion)
Table 40 Asset Performance Management in other verticals, 2017-2030 (USD Billion)
Table 41 Asset Performance Management in other vertical, by region, 2017-2030 (USD Billion)
Table 42 North America Asset Performance Management Market, 2017-2030 (USD Billion)
Table 43 North America Asset Performance Management Market, by category, 2017-2030 (USD Billion)
Table 44 North America Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 45 North America Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
Table 46 U.S. Asset Performance Management Market, 2017-2030 (USD Billion)
Table 47 U.S. Asset Performance Management Market, by category, 2017-2030 (USD Billion)
Table 48 U.S. Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 49 U.S. Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
Table 50 Canada Asset Performance Management Market, 2017-2030 (USD Billion)
Table 51 Canada Asset Performance Management Market, by category, 2017-2030 (USD Billion)
Table 52 Canada Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 53 Canada Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
Table 54 Europe Asset Performance Management Market, 2017-2030 (USD Billion)
Table 55 Europe Asset Performance Management Market, by category, 2017-2030 (USD Billion)
Table 56 Europe Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 57 Europe Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
Table 58 Germany Asset Performance Management Market, 2017-2030 (USD Billion)
Table 59 Germany Asset Performance Management Market, by category, 2017-2030 (USD Billion)
Table 60 Germany Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 61 Germany Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
Table 62 U.K. Asset Performance Management Market, 2017-2030 (USD Billion)
Table 63 U.K. Asset Performance Management Market, by category, 2017-2030 (USD Billion)
Table 64 U.K. Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 65 U.K. Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
Table 66 France Asset Performance Management Market, 2017-2030 (USD Billion)
Table 67 Asia Pacific Asset Performance Management Market, 2017-2030 (USD Billion)
Table 68 Asia Pacific Asset Performance Management Market, by category, 2017-2030 (USD Billion)
Table 69 Asia Pacific Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 70 Asia Pacific Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
Table 71 China Asset Performance Management Market, 2017-2030 (USD Billion)
Table 72 China Asset Performance Management Market, by category, 2017-2030 (USD Billion)
Table 73 China Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 74 China Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
Table 75 India Asset Performance Management Market, 2017-2030 (USD Billion)
Table 76 India Asset Performance Management Market, by category, 2017-2030 (USD Billion)
Table 77 India Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 78 India Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
Table 79 Japan Asset Performance Management Market, 2017-2030 (USD Billion)
Table 80 Japan Asset Performance Management Market, by category, 2017-2030 (USD Billion)
Table 81 Japan Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 82 Japan Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
Table 83 Latin America Asset Performance Management Market, 2017-2030 (USD Billion)
Table 84 Latin America Asset Performance Management Market, by category, 2017-2030 (USD Billion)
Table 85 Latin America Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 86 Latin America Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
Table 87 Mexico Asset Performance Management Market, 2017-2030 (USD Billion)
Table 88 Mexico Asset Performance Management Market, by category, 2017-2030 (USD Billion)
Table 89 Mexico Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 90 Mexico Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
Table 91 MEA Asset Performance Management Market, 2017-2030 (USD Billion)
Table 92 MEA Asset Performance Management Market, by category, 2017-2030 (USD Billion)
Table 93 MEA Asset Performance Management Market, by deployment, 2017-2030 (USD Billion)
Table 94 MEA Asset Performance Management Market, by vertical, 2017-2030 (USD Billion)
List of Figures
FIG. 1 Market segmentation and scope
FIG. 2 Global asset performance management market, 2017-2030 (USD Billion)
FIG. 3 Asset performance management market-Value chain analysis
FIG. 4 Asset performance management market dynamics
FIG. 5 Worldwide spending on public cloud computing (in USD Billion)
FIG. 6 Key commercial consideration for software contracts
FIG. 7 Key opportunities prioritized
FIG. 8 Asset performance management market-Key company ranking/company market share analysis, 2020
FIG. 9 Asset performance management market-Porter’s five forces analysis
FIG. 10 Asset performance management market-PESTEL analysis
FIG. 11 Asset performance management market, by category, 2021
FIG. 12 Asset performance management market, by deployment, 2021
FIG. 14 Asset performance management market, by vertical, 2021
FIG. 15 Asset performance management market, by region, 2021
FIG. 16 Asset performance management market-Regional takeaways
FIG. 17 North America asset performance management market-Key takeaways
FIG. 18 Europe asset performance management market-Key takeaways
FIG. 19 Asia Pacific asset performance management market-Key takeaways
FIG. 20 Latin America asset performance management market-Key takeaways
FIG. 21 MEA asset performance management market-Key takeaways

Companies Mentioned

  • ABB Ltd
  • AVEVA Group plc
  • Aspen Technology Inc.
  • International Business Machines Corporation
  • Bentley Systems, Incorporated
  • DNV GLAS
  • GE Digital
  • SAP SE
  • SAS Institute, Inc.
  • Siemens AG

Methodology

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Table Information

Report AttributeDetails
No. of Pages161
PublishedJune 2022
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 19.32 Billion
Forecasted Market Value ( USD ) by 2030 $ 47.18 Billion
Compound Annual Growth Rate11.8%
Regions CoveredGlobal
No. of Companies Mentioned10

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