Asset Performance Management Market Size, Share, & Trend Analysis By Category (Predictive Asset Management, Asset Reliability Management), By Deployment (On Premises, Hosted), By Vertical (Energy & Utilities), By Region, And Segment Forecasts, 2026 - 2033

Asset Performance Management Market Summary

The global asset performance management market size was estimated at USD 26.51 billion in 2025 and is projected to reach USD 67.50 billion by 2033, growing at a CAGR of 12.5% from 2026 to 2033. Due to the need for organizations to maximize asset reliability, reduce maintenance costs, and extend lifecycles in capital-intensive industries where unplanned downtime is increasingly costly.

Advancements in Industrial Internet of Things (IIoT), AI, machine learning, and big data analytics are enhancing Asset Performance Management (APM) capabilities, with connected sensors and analytics platforms enabling early fault detection, optimized maintenance scheduling, and a shift from reactive to predictive strategies. Aging infrastructure across sectors such as utilities, energy, manufacturing, and transportation, coupled with budget constraints, push companies to use asset performance management to extend asset life, maintain safety, and boost efficiency without large capital investments, while stringent regulatory and safety compliance requirements in industries such as oil & gas, aviation, and pharmaceuticals further drive adoption by ensuring documentation, traceability, and audit readiness.

The asset performance management (APM) market has been evolving continuously in line with the advances in technology and the changing needs of the incumbents of various end-use industries and industry verticals. Several vendors are striking strategic partnerships with end users as part of their efforts to strengthen their foothold in the market. For instance, in February 2025, Avathon, a U.S.-based AI platform provider for industrial operations, partnered with Google Cloud to accelerate AI-driven transformation in manufacturing, energy, retail, and more. The collaboration aims to expand Avathon’s asset performance management, logistics, supply chain, and safety solutions using Google Cloud technology. Together, they will also advance go-to-market efforts and integrate Avathon’s SDK and APIs with Google Cloud services.

Moreover, a significant driver of the asset performance management industry is the growing investments in smart manufacturing and automation. Industries worldwide are embracing Industry 4.0 principles, integrating advanced technologies such as the Industrial Internet of Things (IIoT), artificial intelligence (AI), machine learning (ML), and robotics into their production processes. These technologies enable real-time monitoring, data-driven decision-making, and self-optimizing production systems. APM solutions are a critical component of this ecosystem, as they provide the analytics, predictive capabilities, and asset health insights necessary to keep highly automated facilities operating at peak efficiency.

According to the State of Smart Manufacturing Report 2025 by Rockwell Automation, the survey reveals a rising number of organizations planning to implement AI and machine learning for cybersecurity in the next year, underscoring their increasing importance in bolstering digital security. These technologies are also expected to reshape supply chain management, with about one-third of respondents planning to apply them in this area, and half intending to use them for quality control.

Global Asset Performance Management Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global asset performance management market report based on category, deployment, vertical, and region:

• Category Outlook (Revenue, USD Billion, 2021 - 2033)
• Predictive Asset Management
• Asset Reliability Management
• Asset Strategy Management
• Others
• Deployment Outlook (Revenue, USD Billion, 2021 - 2033)
• On Premises
• Hosted
• Public Cloud
• Private Cloud
• Vertical Outlook (Revenue, USD Billion, 2021 - 2033)
• Energy & Utilities
• Oil & Gas
• Manufacturing
• Mining & Metal
• Government & Public Sector
• Transportation
• Chemicals & Pharmaceutical
• Others
• Regional Outlook (Revenue, USD Billion, 2021 - 2033)
• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa

Please note The report will be delivered in 2-3 business days upon order notification. Show more