Top Asset Performance Management Companies

The global asset performance management market is expanding rapidly, with a projected market size set to grow from about USD 2.16 billion in 2025 to USD 3.55 billion by 2030, featuring a CAGR of 10.5%. The asset performance management (APM) market is being reshaped by four critical drivers. The rising adoption of predictive and prescriptive maintenance transforms operations by enabling real-time anomaly detection, condition monitoring, and advanced analytics that extend asset lifecycles and reduce unplanned failures. A rapid shift toward cloud and SaaS-based APM solutions redefines deployment models, offering enterprises scalability, faster time-to-value, and seamless upgrades without heavy infrastructure investments. Integrating artificial intelligence, Internet of Things, and digital twin technologies is accelerating more intelligent decision-making, with virtual replicas of assets allowing scenario simulation, performance optimization, and proactive risk mitigation. At the same time, the high downtime cost pushes organizations to pursue ROI-driven APM strategies, where every avoided outage translates into substantial financial and operational savings. These forces position APM as a strategic cornerstone for enterprises, balancing reliability, efficiency, and digital innovation at scale.

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Some of the major players in the asset performance management market include GE Vernova (US), AVEVA (UK), ABB (Switzerland), IBM (US), and SAP (Germany). These companies use and provide asset performance management (APM) solutions to improve reliability, optimize maintenance, and ensure operational compliance. From deploying predictive and prescriptive maintenance to integrating artificial intelligence, IoT, and digital twin technologies, these platforms help reduce downtime, lower costs, and extend equipment life while aligning with regulatory standards globally. Enabling more innovative asset utilization and data-driven decision-making, APM solutions allow enterprises to remain resilient, accelerate digital transformation, and sustain competitiveness in a performance-driven economy.

In July 2025, Norwegian energy company Aker BP implemented SAP Asset Performance Management to enhance predictive maintenance and operational excellence. The company automated maintenance processes by leveraging SAP S/4HANA and AI, enabling proactive, data-driven decision-making. This digital approach aims to reduce costs, improve safety, and minimize downtime for its critical equipment.

In June 2025, Fluke Reliability and Treon announced a strategic partnership to advance predictive maintenance by integrating Treon’s wireless sensor technology with Fluke’s AI-driven diagnostics and eMaint CMMS platform. This collaboration enhances asset performance, reduces downtime, extends equipment life, and delivers scalable, data-driven insights for improved operational efficiency and reliability.

ABB

ABB is strengthening its position in the asset performance management market with strategies focused on AI-driven analytics, cloud-based platforms, and modular solutions that enhance reliability and operational efficiency. The company’s core competencies include the Genix APM suite with predictive, prescriptive, risk-based maintenance, generative AI capabilities through Genix APM Copilot, digital twin modeling, IIoT integration, edge to cloud connectivity, and domain-specific instrumentation diagnostics. The company has been highly active in recent years. In November 2023, ABB launched the ABB Ability SmartMaster platform in India to provide digital asset performance management for instrumentation across water, wastewater, chemical, and oil & gas sectors. In October 2024, ABB entered a multi-year global framework agreement with BHP to collaborate on operations, maintenance, and decarbonization of mining and processing assets. In 2025, ABB introduced generative AI into its Genix APM suite through the Copilot functionality. ABB combines vertically integrating hardware, software, and services with horizontal expansion into digital ecosystems and industrial partnerships.

IBM

IBM is reinforcing its position in the asset performance management market with strategies focused on hybrid cloud adoption, SaaS based delivery, and targeted industry solutions that simplify asset monitoring and maintenance. The company’s core competencies are anchored in the Maximo Application Suite, which offers predictive maintenance, condition monitoring, digital twin capabilities, IoT data integration, and machine learning tools for early fault detection. The company has been active in recent years in expanding its portfolio. In June 2023, IBM acquired Apptio to strengthen automation and cost management offerings. In July 2024, it completed the acquisition of StreamSets and webMethods, improving data integration and connectivity across enterprise applications. In October 2024, IBM acquired Prescinto, adding Maximo’s renewable energy monitoring and optimization functions. Through these steps, IBM combines vertical integration by linking monitoring, analytics, and operational workflows with horizontal expansion into new data tools, renewable energy capabilities, and cloud partnerships, ensuring greater value and efficiency for global industries.

Market Ranking

In 2025, the asset performance management market remained intensely competitive with GE Vernova, AVEVA, ABB, IBM, and SAP holding about 30–35% of the market. GE Vernova strengthened its position in February 2025 with the release of Proficy 2025, expanding APM modules for reliability, analytics, and emissions monitoring, followed by the April 2025 Global APM User Conference, where it introduced updates to its “Transform to Transition” strategy to accelerate digital adoption in energy and heavy industries. AVEVA advanced its capabilities through its “Visual APM” initiative launched in October 2024, integrating digital twin simulations more deeply into asset monitoring and predictive maintenance across oil, gas, and manufacturing operations. ABB embedded generative AI into its Genix APM suite in March 2025 with the launch of Genix APM Copilot, enhancing condition monitoring and predictive diagnostics. IBM reinforced its Maximo portfolio in July 2024 by acquiring StreamSets and webMethods, improving data integration, and in October 2024, acquired Prescinto to strengthen renewable energy monitoring and optimization within APM. SAP introduced new APM features in March 2025 within its SAP Asset Intelligence Network, enabling tighter integration with S/4HANA and improved lifecycle tracking for critical equipment. These advancements collectively highlight how top vendors use AI, digital twins, and integrated data platforms to sharpen industry specialization and sustain competitiveness in the APM market.

Related Reports:

Asset Performance Management Market by Solution (Predictive Maintenance & Analytics, Asset Reliability & Condition Monitoring, Sustainability & Emission), Asset Type (Infrastructure, Facility, IT/OT, Rotating Equipment, Mobile) - Global Forecast to 2030

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