Market Size And Forecast: Industrial Asset Management Services 2022-2028 (Global)
05 Oct, 2023
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Executive Summary
This report helps executives at industrial asset management (IAM) consultants understand the market size and forecasted growth of the IAM services market. Based on a bottom-up analysis of service provider revenues, interviews with decision-makers at service organization suppliers, and survey data from 304 interviews with decision-makers at industrial firms, Verdantix finds that the IAM services market will grow from $8.9 billion in 2022 to $15.4 billion in 2028, at a CAGR of 9.5%. Drivers encompass the ongoing digitization of industrial operations, high demand for digital technologies for asset management, decarbonization of plant operations, and calls for balanced external expertise.
Industrial asset management services market size and forecast methodology
The IAM services market is populated by a range of providers
The IAM services market was worth $8.9 billion in 2022
Digitization, decarbonization and demand for industry expertise are driving growth in the IAM services market
Cost-cutting measures will stall growth in the IAM services market in the short to medium term
The IAM services market will grow at a CAGR of 9.5% to become a $15 billion market in 2028
The EHS software market will grow at a CAGR of 11.5% to reach $3.1 billion in 2028
The IAM services market is populated by a range of providers
The IAM services market was worth $8.9 billion in 2022
Digitization, decarbonization and demand for industry expertise are driving growth in the IAM services market
Cost-cutting measures will stall growth in the IAM services market in the short to medium term
The IAM services market will grow at a CAGR of 9.5% to become a $15 billion market in 2028
The EHS software market will grow at a CAGR of 11.5% to reach $3.1 billion in 2028
Figure 1. Verdantix industry breakdown
Figure 2. 2022 industrial asset management services by region
Figure 3. 2022 industrial asset management services by industry
Figure 4. 2022 industrial asset management services by service line
Figure 5. Industrial asset management services spending plans
Figure 6. Industrial asset management services forecast by region 2022-2028
Figure 7. Industrial asset management services forecast by service line 2022-2028
Figure 8. Industrial asset management services forecast by industry 2022-2028
Figure 2. 2022 industrial asset management services by region
Figure 3. 2022 industrial asset management services by industry
Figure 4. 2022 industrial asset management services by service line
Figure 5. Industrial asset management services spending plans
Figure 6. Industrial asset management services forecast by region 2022-2028
Figure 7. Industrial asset management services forecast by service line 2022-2028
Figure 8. Industrial asset management services forecast by industry 2022-2028
About the Authors
Hugo Fuller
Senior Analyst
Hugo is a Senior Analyst in the Verdantix Industrial Transformation practice. His current research agenda explores the technologies within the industrial asset management soft…
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Malavika Tohani
Research Director
Malavika is a Research Director at Verdantix, guiding research that explores how digital technologies and services are reshaping industrial operations to become safer, more ef…
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