Asset Performance Management Market Analysis

Deployment Segment Analysis

Hosted segment is set to account for around 65.1% asset performance management market share by 2035 on account of the rising investment in public cloud infrastructure, driven by growing automation, digital transformation, and the widespread use of connected devices across different industries. For instance, global end-user spending on public clouds increased to over USD 590 billion in 2023, from around USD 420 billion in 2021 and almost USD 499 billion in 2022. Public cloud deployment offers a wide range of options for computing solutions, and more frequent updates of APM solutions to satisfy the expanding requirements of businesses across all sizes and industries. APM can be installed locally on a cloud, which may improve asset reliability throughout any type of infrastructure and expedite business processes. APM solution accessibility has increased due to the acceleration of installation timelines brought by cloud technology deployment.

Vertical Segment Analysis

The energy and utilities segment is anticipated to hold a significant revenue share in the asset performance management market during the projected timeframe. Energy businesses have to conduct efficient operations to reach net zero emissions. As per the International Energy Agency, global yearly investments in renewable energy will need to more than triple to over USD 4 trillion by 2030 to achieve net zero emissions by 2050.  This calls for managers and other officials to use asset performance management solutions to monitor asset conditioning and evaluate the health of their assets to reduce waste and energy usage. The growing emphasis that firms are placing on predictive maintenance to make sure that assets are operating at their best is also seen to be propelling the expansion of this industry.

Our in-depth analysis of the asset performance management market includes the following segments: