Global Asset Performance Management (APM) Market Overview

The global asset performance management (APM) market was valued at USD 23.75 billion in 2024 and is projected to reach USD 47.18 billion by 2030, expanding at a CAGR of 12.2% from 2025 to 2030. Market growth is primarily driven by the increasing adoption of industrial sensors, which has enabled the rapid deployment of APM solutions across industries.

The market’s expansion is further attributed to the widespread implementation of digital twin technology, which enhances asset efficiency and utilization. Digital twins allow organizations to create virtual representations of physical assets, enabling data-driven decision-making and simulation of multiple operational scenarios. This capability leads to improved asset reliability, reduced downtime, and more effective operational planning.

The APM industry is expected to witness substantial growth during the forecast period due to the growing use of digital asset management solutions across sectors such as oil & gas, government, and public infrastructure. The integration of the Industrial Internet of Things (IIoT) and digital twin technology into asset performance systems is further fueling demand for advanced APM solutions.

Modern APM systems are already leveraging IIoT technologies to deliver predictive insights and enhance equipment reliability. The integration of APM with complementary technologies, including mobile platforms and Geographic Information Systems (GIS), has expanded the scope of use cases, promoting more efficient asset management and maintenance operations.

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As industries increasingly focus on sustainability, operational efficiency, and compliance, APM solutions are becoming indispensable. They help minimize resource wastage, improve energy utilization, and ensure adherence to environmental and regulatory standards. Governments and enterprises are relying on these systems to strengthen operational resilience and adaptability amid technological disruption and global challenges. Consequently, APM is emerging as a vital component of modern asset management strategies.

Additionally, the growing emphasis on regulatory compliance and safety is accelerating APM adoption. Highly regulated industries—such as energy, transportation, and healthcare—are deploying APM solutions to monitor critical assets, prevent operational failures, and mitigate environmental or safety risks. These systems provide real-time alerts, historical performance tracking, and automated reporting, helping organizations streamline compliance and reduce risk exposure.

Sustainability and Environmental, Social, and Governance (ESG) objectives are also shaping the market landscape. APM tools facilitate efficient energy management, resource optimization, and emission reduction, enabling companies to align with global sustainability goals and lower their carbon footprints.

Key Market Trends & Insights

• North America held the largest market share, accounting for over 33.0% of global revenue in 2024.
• The U.S. APM market is projected to grow at a CAGR of 11.3% from 2025 to 2030.
• By category, the asset reliability management segment led the market with a revenue share exceeding 33.0% in 2024.
• By deployment, the on-premise segment accounted for over 63.0% of total revenue in 2024.
• By vertical, the energy & utilities segment dominated the market with a share of over 18.0% in 2024.

Market Size & Forecast

• 2024 Market Size: USD 23.75 Billion
• 2030 Projected Market Size: USD 47.18 Billion
• CAGR (2025–2030): 12.2%
• Largest Market (2024): North America
• Fastest-Growing Market: Asia Pacific

Key Asset Performance Management Company Insights

Prominent players in the APM industry include ABB, IBM Corporation, AVEVA Group Limited, GE Vernova, and SAP SE. These companies are actively pursuing strategic initiatives such as product innovations, partnerships, acquisitions, and technology integrations to enhance their market presence and competitiveness.

• In October 2024, IBM Corporation announced the acquisition of Prescinto, an Indian AI-powered platform, to strengthen its Maximo Application Suite (MAS) for renewable energy asset performance management. This move enhances IBM’s capabilities in the energy and utilities sector, particularly in managing solar, wind, and renewable energy storage assets. The integration supports the industry’s transition toward sustainable and intelligent energy management solutions.
• In August 2024, SAP SE introduced an AI-powered copilot within its APM platform to enhance operational efficiency through natural language processing. This innovation allows users to access SAP Help Portal resources seamlessly, improving workflow automation and decision-making. The AI copilot represents SAP’s commitment to integrating advanced technologies that drive digital transformation and improve user experience in asset management.

Leading Asset Performance Management Companies

• ABB
• Aspen Technology Inc.
• AVEVA Group Limited
• Bentley Systems, Incorporated
• DNV GLAS
• GE Vernova
• IBM Corporation
• Rockwell Automation
• SAP SE
• SAS Institute, Inc.
• Siemens Energy

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Conclusion

The global asset performance management market is entering a phase of rapid evolution driven by technological integration, sustainability initiatives, and regulatory imperatives. The growing adoption of IIoT, digital twins, and AI-powered analytics is transforming asset monitoring and predictive maintenance, enabling organizations to improve reliability and extend asset lifecycles.

With North America leading the market and Asia Pacific emerging as the fastest-growing region, the sector is witnessing strong momentum across energy, manufacturing, and infrastructure industries. APM solutions are becoming central to digital transformation strategies, offering measurable benefits in efficiency, compliance, and sustainability. As industries continue to modernize and pursue greener operations, the APM market is poised for sustained and robust growth through 2030.