Industrial Asset Monitoring Market size is estimated to be USD 10.5 Billion in 2024 and is expected to reach USD 25.8 Billion by 2033 at a CAGR of 10.6% from 2026 to 2033.
The global Industrial Asset Monitoring Market was valued at approximately USD 15.3 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 17.8% from 2023 to 2030. This growth is driven by increasing demand for operational efficiency, predictive maintenance, and the integration of IoT based solutions to monitor and optimize industrial assets. As companies across various industries seek to reduce downtime, improve asset longevity, and enhance operational productivity, the market is experiencing significant adoption of advanced monitoring technologies. The market size is projected to reach around USD 59.2 billion by the end of 2030, offering substantial opportunities for growth and innovation. The rise of Industry 4.0, smart manufacturing, and digital transformation is anticipated to contribute further to the growth trajectory of the market.
Regionally, North America dominates the Industrial Asset Monitoring Market, accounting for the largest market share in 2022, primarily due to the early adoption of automation technologies and the presence of key industries such as manufacturing, energy, and utilities. North Americas market size is estimated to reach USD 7.5 billion by 2030. Europe holds a significant share as well, with a focus on improving asset management across sectors like automotive, aerospace, and energy, expected to contribute to a market value of USD 5.9 billion by 2030. The Asia Pacific region is anticipated to witness the highest CAGR of 19.3% during the forecast period, driven by rapid industrialization and increasing investments in infrastructure in countries like China and India. The Middle East and Africa, along with Latin America, are also showing potential for growth as industries adopt advanced monitoring solutions to optimize operations and reduce costs.
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Sierra Wireless
u-blox
ElastiSense
Sensata Technologies
Cisco
Dematec
Baker Hughes
Biz4Intellia
Emerson
AiRISTA Flow
GuardRFID
Radiant
ATS
3d Signals
Veolia
Sentea
Anova
FieldAware
Siemens
Applied Telematics
IoTConnect
Ampcontrol
Softengi
Adapt Ideas
Hexagon’s solution
OpenText
Norsu
Capgemini
KORE
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Industrial Asset Monitoring Market
On-premise
Cloud-based
Hardware
Software
Services
Predictive Maintenance
Asset Tracking
Energy Management
Remote Monitoring
Manufacturing
Energy & Utilities
Transportation & Logistics
Healthcare
Mining
IoT (Internet of Things)
AI & Machine Learning
Big Data Analytics
5G Technology
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Industrial Asset Monitoring Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Industrial Asset Monitoring Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Industrial Asset Monitoring Market, By Type
6. Global Industrial Asset Monitoring Market, By Application
7. Global Industrial Asset Monitoring Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Industrial Asset Monitoring Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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