Pune, May 29, 2025 (GLOBE NEWSWIRE) -- Industrial Asset Management Market Size Analysis:
“The SNS Insider report indicates the Industrial Asset Management Market size was valued at USD 156.36 billion in 2023 and is estimated to reach USD 654.30 billion by 2032, growing at a CAGR of 17.29% during the forecast period of 2024–2032.”
Get a Sample Report of Industrial Asset Management Market@ https://www.snsinsider.com/sample-request/6308
In the U.S., the Industrial Asset Management market was valued at USD 39.36 billion in 2023 and is projected to reach USD 165.07 billion by 2032, growing at a CAGR of 17.27%. Growth is driven by rapid digital transformation, high demand for predictive maintenance, and widespread IoT adoption. The future outlook remains strong due to continued investments in smart manufacturing and infrastructure modernization.
Major Players Analysis Listed in this Report are:
- ABB
- Accruent
- Asset Panda
- AssetWorks, Inc.
- GE Vernova
- GoCodes
- Hexagon AB
- Hitachi Energy Ltd.
- Honeywell International Inc.
- IBM
- Oracle
- Rockwell Automation
- SAP SE
- Schneider Electric
- Siemens
Industrial Asset Management Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 156.36 Billion |
| Market Size by 2032 | US$ 654.30 Billion |
| CAGR | CAGR of 17.29% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Segments | • By Component (Hardware, Software, Services) • By Asset Type (Returnable Transport Assets, Manufacturing Assets, IT Asset, Others) |
| Key Growth Drivers | Industrial Asset Management Transformed by IoT, AI, and Predictive Analytics for Enhanced Efficiency, Reduced Downtime, and Cost Optimization. |
Do you have any specific queries or need any customization research on Industrial Asset Management Market, Make an Enquiry Now@ https://www.snsinsider.com/enquiry/6308
By Component: Services Lead, Software Grows Fastest
In 2023, the services segment dominated the market and accounted for 40% of revenue share, as organizations increasingly need consulting, implementation, and support during IAM solution deployment across complex industrial environments. With businesses progressively moving away from legacy systems, there will always be a need for specific managed services and maintenance systems.
The software segment is expected to grow at the fastest CAGR between 2024 and 2032. As AI and cloud lie at the core of every trending software solution, real-time analytics, predictive maintenance, and mobile asset tracking will become a possibility. In the next few years, we will see huge adoption of software platforms among SMEs, due to scalability and automation 'carrots'.
By Asset Type: Manufacturing Assets Dominate, Transport Assets Grow Fastest
The manufacturing assets segment dominated the market and accounted for 38% of revenue share in 2023, as asset monitoring and predictive maintenance are widely implemented across factories and production units. Smart Sensor integration and prediction diagnostics are extremely advantageous in this segment due to the requirements of reducing unplanned downtime and discovering possibilities of enhancing performance and utilization of machinery components.
The Returnable Transport Assets segment is expected to register the fastest CAGR during the forecast period. Increase in global logistics, growing complexity in supply chains, and booming e-commerce are driving the demand for improved traceability and lifecycle management of returnable assets. This segment is estimated to be driven by the adoption of RFID and IoT in tracking these assets.
Buy an Enterprise-User PDF of Industrial Asset Management Market Analysis & Outlook 2024-2032@ https://www.snsinsider.com/checkout/6308
By Region: North America Leads, Asia-Pacific Grows Fastest
The North America IAM market was the highest revenue-generating region in 2023, owing to early adoption of technologies, strong presence of leading vendors, and huge investments in industrial automation. Enterprises in the U.S. have here for years back making a lot of efforts for years to optimize performance and compliance command across either manufacturing, oil & gas, and BFSI.
The Asia-Pacific market is anticipated to gain the maximum CAGR during the predicted period, owing to industrialization, digital transformation, and the increasing benefit of the government support for smart manufacturing initiatives. Major growth centers such as China, India, and Japan are fast developing advanced infrastructure, and their industrial base is gradually expanding.
Recent Developments in 2024
- April 2024 – ABB launched its latest Ability Genix APM Suite, enhancing AI-driven predictive asset analytics for manufacturing industries.
- February 2024 – Schneider Electric partnered with Aveva to upgrade asset management in the energy and utility sectors using unified digital platforms.
- March 2024 – IBM introduced new capabilities in the Maximo Application Suite, focusing on integration with AI-powered maintenance in heavy industries.
Access Complete Report Details of Industrial Asset Management Market Analysis Report 2024-2032@ https://www.snsinsider.com/reports/industrial-asset-management-market-6308
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Industrial Asset Management Market Segmentation, By Asset Type
8. Industrial Asset Management Market Segmentation, By Component
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
