The smart connected assets and operations market is estimated to capture a valuation of US$ 230.8 billion in 2023 and is projected to reach US$ 458.28 billion by 2033. The market is estimated to secure a CAGR of 7.1% during the forecast period.
Various Factors Influence the Market such as:
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 7.1% |
| Market Valuation (2023) | US$ 230.8 billion |
| Market Valuation (2033) | US$ 458.28 billion |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
As per Future Market Insights (FMI), the global market grew at a steady CAGR of 10.2% between 2018 and 2022. The market captured a valuation of US$ 132.90 billion in 2018 and US$ 196.0 billion in 2022.
The growing advanced technologies such as the Internet of Things, machine learning, and artificial intelligence have driven the global market. It provides real-time data and cost-saving solutions and enhances decision-making by leveraging real-time insights.
Intelligent connected assets and operations handle vast data through emerging cloud computing systems. Various end-use industries such as transportation, healthcare, energy, mining, and manufacturing are notably growing the market size.
Based on the module, the APM software and platforms segment dominates the global market by capturing a CAGR of 7% during the forecast period. The increasing demand for assets to improve performance and reduce costs drives the global market.
APM software and platforms provide advanced monitoring capabilities and analytics to detect early issues and schedule maintenance. It is vital in maintaining analyses and collecting real-time monitoring systems to provide relevant and actionable insights.
Integrating big data and the Internet of Things is increasing the adoption of APM software and platforms. These solutions are offered to identify inefficiencies, perform analytics, and make data-driven decisions.
Various industries such as energy, utility, and oil and gas are increasing the adoption of APM software and platforms to enhance the global market size. APM software and platforms secured a CAGR of 10% between 2018 and 2022.
Based on industry, the automotive and transportation sector is dominating the global market by securing a CAGR of 6.9% during the forecast period. These industries are implementing connected technologies to operate and optimize their assets. The automotive sector includes industrial processes and manufacturing that drive the global market significantly.
Automotive solutions improve productivity, reduce labor work, and optimize seamless operations, increasing the adoption of smart connected assets and operations. These operations improve production, resource utilization, and quality control. The transportation sector played a crucial role in driving the global market through activities including fleet management, public transportation, and logistics.
There is growing adoption of connected technologies such as GPS tracking, route optimize, telematics, real-time data analytics, and route optimization. These capabilities improve operational efficiency, enhance customer experiences, and save costs. These also contribute to driving the global market through the Internet of Things, artificial intelligence, and other technologies by 2033. The Automotive and transportation sector secured a CAGR of 9.7% from 2018 to 2022.
Principal Consultant
| Country | The United States |
|---|---|
| Forecast CAGR From 2023 to 2033 | 5.9% |
| Historic CAGR From 2018 to 2022 | 7.0% |
| Forecast Valuation 2033 | US$ 64.5 billion |
| Country | The United Kingdom |
|---|---|
| Forecast CAGR From 2023 to 2033 | 5.5% |
| Historic CAGR From 2018 to 2022 | 5.6% |
| Forecast Valuation 2033 | US$ 11.6 billion |
| Country | China |
|---|---|
| Forecast CAGR From 2023 to 2033 | 8.5% |
| Historic CAGR From 2018 to 2022 | 12.3% |
| Forecast Valuation 2033 | US$ 107.0 billion |
| Country | Japan |
|---|---|
| Forecast CAGR From 2023 to 2033 | 7.3% |
| Historic CAGR From 2018 to 2022 | 10.4% |
| Forecast Valuation 2033 | US$ 65.8 billion |
| Country | South Korea |
|---|---|
| Forecast CAGR From 2023 to 2033 | 7.5% |
| Historic CAGR From 2018 to 2022 | 11.7% |
| Forecast Valuation 2033 | US$ 25.7 billion |
China is estimated to secure a valuation of US$ 107.0 billion with a CAGR of 8.5% in the global market by 2033. China is a significant player that contributes to dominating the global market through various factors, including:
These are a few factors significantly driving China's market during the forecast period.
Japan is one of the significant countries that is securing a CAGR of 7.3% with a valuation of US$ 65.8 billion by 2033. Several factors drive Japan’s smart connected assets and operations market, including:
The United States is anticipated to capture a valuation of US$ 64.5 billion with a CAGR of 5.9% in the global market by 2033. The country is influenced by various essential factors as follows:
The market is highly consolidated due to regional and global players' presence. Key players worldwide focus on developing advanced products by adopting the latest technologies, such as artificial intelligence and cutting-edge technologies. These players are also developing improved products as per consumers' requirements.
Key players are adopting various marketing methodologies to drive the market to another height. These methodologies include mergers, collaborations, acquisitions, product launches, and agreements. These players are adopting strategic mergers and acquisitions and allying with regional distributors to strengthen their supply chain channels.
Market players also emphasize fast product approvals, product development, and patenting. New market entrants focus on new product launches to establish their market presence.
Other Key Players Operating in the Smart Connected Assets and Operations Market
Recent Developments in the Global Smart Connected Assets and Operations Market
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ billion for Value |
| Key Countries Covered | The United States, The United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Module, Industry, Region |
| Key Companies Profiled | IBM Corporation; General Electric (GE) Digital; Siemens AG; Schneider Electric SE; ABB Ltd.; Microsoft Corporation; SAP SE; Cisco Systems, Inc.; Honeywell International Inc.; Rockwell Automation, Inc.; Oracle Corporation; Hitachi, Ltd.; Bosch Rexroth AG; Huawei Technologies Co., Ltd.; Emerson Electric Co.; Johnson Controls International plc; Accenture plc; C3.ai, Inc.; OSIsoft LLC (acquired by Aveva Group) |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The smart connected assets and operations market is valued at US$ 230.8 billion in 2023.
The smart connected assets and operations market is rising at a 7.1% CAGR through 2033.
China’s smart connected assets and operations market may develop at an 8.5% CAGR through 2033.
Japan market is expected to thrive at a 7.3% CAGR through 2033.
The market size is likely to reach US$ 458.28 billion by 2033.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Module 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Module, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Module, 2023 to 2033 5.3.1. Hardware 5.3.1.1. Processors 5.3.1.2. Sensors 5.3.1.3. Network Connectivity 5.3.2. APM Software & Platform 5.3.2.1. Aspects of APM 5.3.2.2. Applications of APM Solution 5.3.3. Services 5.3.3.1. Professional Services 5.3.3.2. Managed Services 5.4. Y-o-Y Growth Trend Analysis By Module, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Module, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Industry 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Industry, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Industry, 2023 to 2033 6.3.1. Automotive & Transportation 6.3.1.1. Roadways 6.3.1.2. Railways 6.3.1.3. Airways 6.3.1.4. Maritime 6.3.2. Energy & Power 6.3.3. Healthcare 6.3.3.1. Telemedicine 6.3.3.2. Clinical Operations and Workflow Management 6.3.3.3. Connected Imaging 6.3.3.4. Inpatient Minitoring 6.3.3.5. Medication Management 6.3.3.6. Others 6.3.4. Smart Agriculture 6.3.4.1. Precision Farming 6.3.4.2. Livestock Monitoring 6.3.4.3. Fish Farming 6.3.4.4. Smart Greenhouse 6.3.4.5. Others 6.3.5. Factory Automation 6.3.6. Others - Metal & Mining, Food & Beverage, and Textile 6.4. Y-o-Y Growth Trend Analysis By Industry, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Industry, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. Asia Pacific 7.3.5. MEA 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. U.S. 8.2.1.2. Canada 8.2.2. By Module 8.2.3. By Industry 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Module 8.3.3. By Industry 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Module 9.2.3. By Industry 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Module 9.3.3. By Industry 9.4. Key Takeaways 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. U.K. 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Europe 10.2.2. By Module 10.2.3. By Industry 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Module 10.3.3. By Industry 10.4. Key Takeaways 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.1.4. Singapore 11.2.1.5. Thailand 11.2.1.6. Indonesia 11.2.1.7. Australia 11.2.1.8. New Zealand 11.2.1.9. Rest of Asia Pacific 11.2.2. By Module 11.2.3. By Industry 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Module 11.3.3. By Industry 11.4. Key Takeaways 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. GCC Countries 12.2.1.2. South Africa 12.2.1.3. Israel 12.2.1.4. Rest of MEA 12.2.2. By Module 12.2.3. By Industry 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Module 12.3.3. By Industry 12.4. Key Takeaways 13. Key Countries Market Analysis 13.1. U.S. 13.1.1. Pricing Analysis 13.1.2. Market Share Analysis, 2022 13.1.2.1. By Module 13.1.2.2. By Industry 13.2. Canada 13.2.1. Pricing Analysis 13.2.2. Market Share Analysis, 2022 13.2.2.1. By Module 13.2.2.2. By Industry 13.3. Brazil 13.3.1. Pricing Analysis 13.3.2. Market Share Analysis, 2022 13.3.2.1. By Module 13.3.2.2. By Industry 13.4. Mexico 13.4.1. Pricing Analysis 13.4.2. Market Share Analysis, 2022 13.4.2.1. By Module 13.4.2.2. By Industry 13.5. Germany 13.5.1. Pricing Analysis 13.5.2. Market Share Analysis, 2022 13.5.2.1. By Module 13.5.2.2. By Industry 13.6. U.K. 13.6.1. Pricing Analysis 13.6.2. Market Share Analysis, 2022 13.6.2.1. By Module 13.6.2.2. By Industry 13.7. France 13.7.1. Pricing Analysis 13.7.2. Market Share Analysis, 2022 13.7.2.1. By Module 13.7.2.2. By Industry 13.8. Spain 13.8.1. Pricing Analysis 13.8.2. Market Share Analysis, 2022 13.8.2.1. By Module 13.8.2.2. By Industry 13.9. Italy 13.9.1. Pricing Analysis 13.9.2. Market Share Analysis, 2022 13.9.2.1. By Module 13.9.2.2. By Industry 13.10. China 13.10.1. Pricing Analysis 13.10.2. Market Share Analysis, 2022 13.10.2.1. By Module 13.10.2.2. By Industry 13.11. Japan 13.11.1. Pricing Analysis 13.11.2. Market Share Analysis, 2022 13.11.2.1. By Module 13.11.2.2. By Industry 13.12. South Korea 13.12.1. Pricing Analysis 13.12.2. Market Share Analysis, 2022 13.12.2.1. By Module 13.12.2.2. By Industry 13.13. Singapore 13.13.1. Pricing Analysis 13.13.2. Market Share Analysis, 2022 13.13.2.1. By Module 13.13.2.2. By Industry 13.14. Thailand 13.14.1. Pricing Analysis 13.14.2. Market Share Analysis, 2022 13.14.2.1. By Module 13.14.2.2. By Industry 13.15. Indonesia 13.15.1. Pricing Analysis 13.15.2. Market Share Analysis, 2022 13.15.2.1. By Module 13.15.2.2. By Industry 13.16. Australia 13.16.1. Pricing Analysis 13.16.2. Market Share Analysis, 2022 13.16.2.1. By Module 13.16.2.2. By Industry 13.17. New Zealand 13.17.1. Pricing Analysis 13.17.2. Market Share Analysis, 2022 13.17.2.1. By Module 13.17.2.2. By Industry 13.18. GCC Countries 13.18.1. Pricing Analysis 13.18.2. Market Share Analysis, 2022 13.18.2.1. By Module 13.18.2.2. By Industry 13.19. South Africa 13.19.1. Pricing Analysis 13.19.2. Market Share Analysis, 2022 13.19.2.1. By Module 13.19.2.2. By Industry 13.20. Israel 13.20.1. Pricing Analysis 13.20.2. Market Share Analysis, 2022 13.20.2.1. By Module 13.20.2.2. By Industry 14. Market Structure Analysis 14.1. Competition Dashboard 14.2. Competition Benchmarking 14.3. Market Share Analysis of Top Players 14.3.1. By Regional 14.3.2. By Module 14.3.3. By Industry 15. Competition Analysis 15.1. Competition Deep Dive 15.1.1. Intel Corporation 15.1.1.1. Overview 15.1.1.2. Product Portfolio 15.1.1.3. Profitability by Market Segments 15.1.1.4. Sales Footprint 15.1.1.5. Strategy Overview 15.1.1.5.1. Marketing Strategy 15.1.2. Cisco Systems 15.1.2.1. Overview 15.1.2.2. Product Portfolio 15.1.2.3. Profitability by Market Segments 15.1.2.4. Sales Footprint 15.1.2.5. Strategy Overview 15.1.2.5.1. Marketing Strategy 15.1.3. IBM Corporation 15.1.3.1. Overview 15.1.3.2. Product Portfolio 15.1.3.3. Profitability by Market Segments 15.1.3.4. Sales Footprint 15.1.3.5. Strategy Overview 15.1.3.5.1. Marketing Strategy 15.1.4. ARM Holdings PLC 15.1.4.1. Overview 15.1.4.2. Product Portfolio 15.1.4.3. Profitability by Market Segments 15.1.4.4. Sales Footprint 15.1.4.5. Strategy Overview 15.1.4.5.1. Marketing Strategy 15.1.5. General Electric Company 15.1.5.1. Overview 15.1.5.2. Product Portfolio 15.1.5.3. Profitability by Market Segments 15.1.5.4. Sales Footprint 15.1.5.5. Strategy Overview 15.1.5.5.1. Marketing Strategy 15.1.6. Texas Instruments Incorporated 15.1.6.1. Overview 15.1.6.2. Product Portfolio 15.1.6.3. Profitability by Market Segments 15.1.6.4. Sales Footprint 15.1.6.5. Strategy Overview 15.1.6.5.1. Marketing Strategy 15.1.7. Cypress Semiconductor Corporation 15.1.7.1. Overview 15.1.7.2. Product Portfolio 15.1.7.3. Profitability by Market Segments 15.1.7.4. Sales Footprint 15.1.7.5. Strategy Overview 15.1.7.5.1. Marketing Strategy 15.1.8. Rockwell Automation 15.1.8.1. Overview 15.1.8.2. Product Portfolio 15.1.8.3. Profitability by Market Segments 15.1.8.4. Sales Footprint 15.1.8.5. Strategy Overview 15.1.8.5.1. Marketing Strategy 15.1.9. STMicroelectronics N.V. 15.1.9.1. Overview 15.1.9.2. Product Portfolio 15.1.9.3. Profitability by Market Segments 15.1.9.4. Sales Footprint 15.1.9.5. Strategy Overview 15.1.9.5.1. Marketing Strategy 15.1.10. NXP Semiconductors, PTC Inc. 15.1.10.1. Overview 15.1.10.2. Product Portfolio 15.1.10.3. Profitability by Market Segments 15.1.10.4. Sales Footprint 15.1.10.5. Strategy Overview 15.1.10.5.1. Marketing Strategy 16. Assumptions & Acronyms Used 17. Research Methodology
Explore Technology Insights
View Reports
Smart Connected Assets and Operations Market
