Worldwide Asset Life-Cycle Management Applications Forecast, 2024-2028: Positive Economic Outlook and Generative AI to Drive Revenue Growth

This IDC study looks at the future of the market for asset life-cycle management applications through 2028 in both qualitative and quantitative terms. It includes the current state of the market, trends that currently affect the market and will affect it in the future, and the impact on annual ALM revenue through 2028. Drivers and inhibitors, market developments, and advice for technology suppliers are all included. "The asset life-cycle management market showed growth in 2023, lifted by the global software market, reduced fears of recession over the second half, and organic expansion driven by growth in facilities management applications as well as in some asset-heavy segments," said Brian O'Rourke, research manager, Enterprise Asset Management and Smart Facilities. "A more positive economic outlook combined with increasing use of generative AI applications should help drive increased ALM revenue growth over the medium to long term."