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Premium Report Details
Base Year: 2024
Companies covered: 20
Tables & Figures: 200
Countries covered: 21
Pages: 180
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Asset Management Market
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Asset Management Market Size
The global asset management market size was valued at USD 469 billion in 2024 and is projected to grow at a CAGR of 29.9% between 2025 and 2034. The need to improve efficiency and reduce costs is driving the demand for asset management solutions across industries. Organizations are under constant pressure to streamline operations, lower expenses, and maximize returns on their investments. As the costs of acquiring and maintaining assets rise, companies are increasingly adopting advanced asset management systems.
These systems use technologies such as IoT, AI, and predictive analytics to monitor asset performance in real-time, identify inefficiencies, and address issues before they escalate. Predictive maintenance helps businesses anticipate equipment failures and perform repairs only when needed, reducing the high costs of unexpected downtime and reactive maintenance.
For instance, in June 2024, Trimble launched the Trimble Unity, an end-to-end asset lifecycle management software suite designed to streamline the planning, design, construction, operation, and maintenance of capital projects and public infrastructure. This comprehensive solution aims to optimize processes and improve outcomes while significantly reducing the total cost of asset ownership.
The growing presence of asset-intensive industries is driving the need for asset management solutions. Industries such as manufacturing, energy, utilities, transportation, and mining depend on valuable physical assets like machinery, infrastructure, and equipment for their operations. As these industries expand, managing the performance, maintenance, and complexity of these assets becomes more difficult.
Asset failures or underperformance in these sectors can cause major disruptions, safety issues, and financial losses. To address these risks, companies are adopting advanced asset management systems that provide real-time monitoring, predictive maintenance, and data-driven insights into asset health. This helps businesses extend asset life, reduce unexpected breakdowns, and improve overall asset availability.