Asset Performance Management Market 2025
Global Industry Trends, Growth, Share, Size
And Upcoming Challenges
The global asset performance management market size is anticipated to reach USD 24,401.62 million, by
2025, and is projected to grow at a CAGR of 9.15% from 2019 to 2025, according to a new report by Million
Insights. The growing demand for a dedicated system in maintaining assets of the company is projected to
spur market growth. Asset management solutions offer optimized performance and reduce operational costs.
Moreover, it helps in tracking the performance of heavy equipment, turbine engines and machinery in
Asset management includes asset risk and strategy management, asset reliability management, and predictive
asset management tools. Increasing usage of these solutions in manufacturing, energy and utilities, mining,
and transportation sector is contributing to market growth. In 2018, the manufacturing segment dominated
the market with the largest market share. The small and medium manufacturers across the world are opting
for these solutions to manage their assets in the manufacturing unit.
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Energy and utilities vertical held the highest market share in 2018. This growth is constituted by the increasing
adoption of asset management tools in the energy sector to manage their assets. For example, Tata power
uses the AVEVA group’s PRISM predictive asset analytics to manage the performance of its assets. This
solution helps in enhancing the performance and increasing the reliability of its assets.
Asset Performance Management Market Report provides in-depth analysis of industry by
production, share, size, Demand, Proposition, Development, Opportunities, Growth,
Economic Trends, Technologies Research, Segmentation, Key Futuristic, Investment
Feasibility, Major Key Players, SWOT analysis and Forecast.