Asset Health Monitoring Market Report 2026

The asset health monitoring market size has grown rapidly in recent years. It will grow from $2.7 billion in 2025 to $3.06 billion in 2026 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to increasing industrial equipment failures, growing need for maintenance cost reduction, adoption of manual inspection methods, rising downtime in manufacturing operations, expansion of industrial automation.

The asset health monitoring market size is expected to see rapid growth in the next few years. It will grow to $5.11 billion by 2030 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to increasing adoption of predictive analytics, growing deployment of iiot enabled devices, rising demand for real time asset visibility, expansion of smart factories, increasing integration of ai based maintenance systems. Major trends in the forecast period include increasing adoption of predictive maintenance strategies, growing deployment of edge-based monitoring systems, rising integration of real-time condition tracking dashboards, expansion of cloud-based asset performance platforms, increasing use of sensor fusion for equipment diagnostics.

The rising digital transformation is anticipated to propel the growth of the asset health monitoring market going forward. Digital transformation refers to the integration of digital technologies into business processes, products, and services to enhance operational efficiency, improve customer experiences, and strengthen data-driven decision-making. The adoption of digital transformation is increasing as organizations aim to improve operational visibility, automate processes, and remain competitive in rapidly evolving markets. Asset health monitoring supports digital transformation initiatives by providing real-time data and predictive insights on equipment performance through sensors, analytics platforms, and connected monitoring systems, thereby contributing to improved operational efficiency and maintenance strategies. For instance, in November 2023, according to GOV.UK, a UK-based government website, the total size of the Government Digital and Data profession increased by 19% from April 2022 to April 2023, reflecting the expanding role of digital technologies and data-driven operations across organizations. Therefore, the rising digital transformation is supporting the growth of the asset health monitoring market.

Leading companies operating in the asset health monitoring market are focusing on advancements in artificial intelligence (AI) integration, such as AI-driven predictive maintenance platforms, to improve real-time asset visibility, predictive accuracy, and operational efficiency while reducing unplanned downtime. AI-driven predictive maintenance platforms use artificial intelligence and machine learning algorithms to analyze real-time and historical equipment data, enabling early detection of potential failures and supporting proactive maintenance strategies. For example, in July 2025, MultiSensor AI Holdings Inc., a US-based condition monitoring and predictive maintenance technology company, launched MSAI Connect 2 to enhance real-time asset diagnostics, AI-powered failure prediction, and remote equipment performance monitoring. The platform leverages multiple sensor inputs, including thermal, vibration, and acoustic data, to provide deeper insights into asset health and improve reliability across critical infrastructure operations.

In July 2024, I-care NV/SA, a Belgium-based predictive maintenance and industrial reliability solutions company, acquired predictive maintenance assets and licenses from Sensirion Connected Solutions AG for an undisclosed amount. Through this acquisition, I-care NV/SA aims to strengthen its asset health monitoring capabilities by integrating Sensirion’s AI-powered predictive maintenance solutions and expanding its portfolio of condition monitoring and reliability services. Sensirion Connected Solutions AG is a Switzerland-based technology company that specializes in advanced IoT-based, end-to-end solutions for continuous methane emissions monitoring in the oil and gas sector.

Major companies operating in the asset health monitoring market are Microsoft Corporation, Siemens Aktiengesellschaft, Hitachi Ltd., Deloitte Touche Tohmatsu Limited, International Business Machines Corporation, Oracle Corporation, Schneider Electric SE, Mitsubishi Electric Corporation, Honeywell International Inc., SAP SE, ABB Ltd., Baker Hughes Company, Emerson Electric Co., Rockwell Automation Inc., Xylem Inc., Dassault Systèmes SE, Autodesk Inc., PTC Inc., Bentley Systems Incorporated, Dynatrace Inc., SKF AB, General Electric Company, Waltero.

North America was the largest region in the asset health monitoring market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the asset health monitoring market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the asset health monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The asset health monitoring market consists of revenues earned by entities by providing services such as condition monitoring services, predictive maintenance services, remote asset monitoring services, vibration analysis services, thermal imaging services, reliability consulting services, cloud-based monitoring services, data analytics services, and system integration services. The market value includes the value of related goods sold by the service provider or included within the service offering. The asset health monitoring market also includes sales of vibration sensors, temperature sensors, pressure sensors, acoustic sensors, corrosion monitoring devices, data acquisition systems, monitoring software platforms, edge devices, gateways, controllers, and diagnostic tools. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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