Asset Performance Management refers to the use of advanced technologies such as IoT sensors, AI, digital twins, and predictive analytics to monitor and optimize the health and reliability of critical infrastructure assets, including switchgears, transformers, and overhead lines. APM solutions allow utilities and industries to detect potential failures early, reduce downtime, extend asset lifecycles, and ensure grid stability.
It matters because modern grids face aging infrastructure, rising energy demand, and regulatory pressures for sustainability and reliability. By shifting from reactive to predictive maintenance, APM not only lowers costs but also enhances safety, compliance, and resilience, making it essential for utilities and industrial operators navigating energy transition and carbon-reduction goals.
According to BIS Research, global asset performance management market was valued at $9.98 billion in 2024 and is expected to reach $27.37 billion by 2035, growing at a CAGR of 9.34%.
Key Drivers:
• Aging Infrastructure: Growing need to modernize power grids and prevent costly failures.
• IoT and AI Adoption: Real-time monitoring, predictive diagnostics, and digital twins extend asset life.
• Regulatory Mandates: Standards from organizations such as NERC drive modernization and grid reliability.
• Operational Efficiency: Transition from reactive to predictive maintenance reduces downtime and costs.
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The asset performance management market is undergoing a paradigm shift fueled by mobile technologies and AI-driven Asset Health Indexing (AHI). Mobile APM platforms give technicians real-time asset data and communication tools, improving decision-making and reducing downtime. Meanwhile, AHI leverages machine learning and IoT data to assign health scores, enabling predictive maintenance and optimized resource allocation.
As utilities embrace grid modernization, renewable integration, and digital transformation, APM will become indispensable for enhancing resilience, lowering costs, and aligning with sustainability goals. The convergence of mobile, AI, and IoT-powered APM solutions will define the next era of asset reliability and infrastructure efficiency.
-BIS Research Analyst Team
What is the expected growth rate of the Asset Performance Management market?
The market is expected to grow at a CAGR of 9.34 % from 2025–2035.
Who are the key leaders in the Asset Performance Management market?
Key leaders include ABB, Aspen Technology Inc, Bentley Systems, Incorporated, GE Vernova, IBM, Infor, Oracle and among others
Which technologies are most in demand?
Technologies in demand include
• IoT-enabled sensors and hardware for real-time monitoring
• AI-driven predictive analytics and Asset Health Indexing (AHI)
• Digital twins for lifecycle extension of transformers and switchgears
• Mobile APM applications for field operations and work order management
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