Market Size And Forecast: Asset Performance Management Software 2022-2028 (Global)

Executive Summary

This report helps executives at asset maintenance software suppliers, current and prospective investors, as well as digital service providers and consultants active in the asset maintenance ecosystem, understand the forecast growth of the asset performance management (APM) software market. Based on a bottom-up analysis of revenues, interviews with software suppliers and survey data from 304 interviews with decision-makers at industrial firms, Verdantix finds that the APM software market will grow from $2.5 billion in 2022 to $5 billion in 2028, at a CAGR of 11.9%, driven by the need to reduce maintenance costs, increase asset uptime and meet energy transition objectives. Expenditure across North America and Europe constituted 65% of APM software spend in 2022, while the manufacturing industry accounted for the greatest amount of industry spend, representing 38% of the market.