PUBLISHER: The Business Research Company | PRODUCT CODE: 1983363
PUBLISHER: The Business Research Company | PRODUCT CODE: 1983363
Smart connected assets and operations refer to the integration of Internet of Things (IoT) technologies into physical assets and operational processes, enabling real-time data collection, monitoring, and analysis. Their primary purpose is to enhance operational efficiency, improve asset performance, and reduce downtime by enabling predictive maintenance, real-time decision-making, and task automation across industries.
The key solution types of smart connected assets and operations are asset management, operations management, field service management, and supply chain management. Asset management refers to the systematic monitoring, tracking, and optimization of an organization's physical and digital assets throughout their lifecycle, leveraging connected technologies and data analytics. It utilizes technologies such as IoT, artificial intelligence, blockchain, and big data analytics, and includes hardware, asset performance management software, platform, and services modules. It is deployed through on-premises, cloud-based, and hybrid modes, serving end-use industries such as manufacturing, healthcare, transportation and logistics, and energy and utilities.
Tariffs have created both challenges and opportunities for the smart connected assets and operations market by increasing the cost of importing industrial sensors, gateways, edge servers, networking equipment, and automation hardware required for real-time monitoring and predictive maintenance. These higher costs can delay large-scale deployments in manufacturing, transportation, and energy sectors, particularly in North America and Europe that depend on Asia-Pacific supply chains for IoT and industrial electronics. Hardware-heavy modules such as edge computing devices, industrial connectivity equipment, and on-premises APM platforms are most affected due to higher capital expenditure and longer procurement cycles. However, tariffs are encouraging regional sourcing, accelerating cloud-based analytics adoption, and pushing organizations to optimize asset utilization to reduce new hardware purchases and improve operational resilience.
The smart connected assets and operations market research report is one of a series of new reports from The Business Research Company that provides smart connected assets and operations market statistics, including smart connected assets and operations industry global market size, regional shares, competitors with a smart connected assets and operations market share, detailed smart connected assets and operations market segments, market trends and opportunities, and any further data you may need to thrive in the smart connected assets and operations industry. This smart connected assets and operations market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The smart connected assets and operations market size has grown rapidly in recent years. It will grow from $321.65 billion in 2025 to $362.96 billion in 2026 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to growth of iot sensor deployments in industry, need to reduce unplanned equipment downtime, increasing adoption of asset performance management, digital transformation initiatives in operations, rising costs of maintenance and spare parts.
The smart connected assets and operations market size is expected to see rapid growth in the next few years. It will grow to $581.89 billion in 2030 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to AI-driven prescriptive maintenance recommendations, edge analytics for low latency decision-making, integration of digital twins for operations planning, cybersecurity hardening for connected assets, sustainability-led energy and asset efficiency programs. Major trends in the forecast period include predictive maintenance for connected industrial assets, real-time operations monitoring with iot dashboards, asset performance management platforms for downtime reduction, automation of field service workflows with mobile tools, connected supply chain visibility and logistics optimization.
The growing emphasis on smart cities is expected to drive the growth of the smart connected assets and operations market. Smart cities are urban areas that leverage digital technologies, data, and smart infrastructure to improve quality of life, enhance service efficiency, and promote sustainability. The increasing focus on smart cities is driven by rapid urbanization, as cities seek innovative solutions to manage infrastructure, resources, and population growth efficiently. Smart connected assets and operations enhance the efficiency and sustainability of smart cities by integrating digital technologies into urban infrastructure. These assets, such as intelligent street lighting, smart waste management systems, and connected transportation, enable real-time data collection and automated decision-making. For example, in April 2023, according to the International Institute for Management Development, a Switzerland-based academic institution, the number of smart cities reached 141 in 2023 compared to previous years. Therefore, the growing emphasis on smart cities is driving the growth of the smart connected assets and operations market.
Key companies in the sustainability and asset management sector are focusing on developing advanced digital platforms, such as zero-emission asset management platforms, to enhance operational efficiency, improve regulatory compliance, and reduce carbon footprint. Zero-emission asset management platforms are integrated software solutions that enable businesses to monitor, manage, and report on the sustainability and environmental impact of their assets, supporting the transition to net-zero goals. For instance, in November 2024, Aion-Tech Solutions, an India-based digital technology company, through its subsidiary ROQIT Greenfleet Digital Solutions, launched ROQIT, a zero-emission, AI-powered asset management platform designed to transform sustainable fleet operations. ROQIT is a cloud-native software-as-a-service (SaaS) solution that provides real-time monitoring, predictive maintenance, and emissions tracking across multiple asset types, including four-wheelers, buses, trucks, and railway vehicles. The platform integrates artificial intelligence (AI), Internet of Things (IoT), and data analytics to optimize route planning, enhance operational efficiency, and support organizations in achieving carbon-neutral mobility and long-term sustainability goals.
In November 2025, Rockwell Automation Inc., a US-based industrial automation and information technology company, acquired Verve Industrial Protection Inc. for an undisclosed amount. Through this acquisition, Rockwell Automation aims to strengthen its industrial cybersecurity capabilities, offering secure, integrated solutions for smart connected assets and operations and protecting IoT devices and networks in industrial environments. Verve Industrial Protection Inc. is a US-based cybersecurity company specializing in smart connected assets and operations.
Major companies operating in the smart connected assets and operations market are Microsoft Corporation, Alibaba Group Holding Limited, Amazon Web Services Inc., Siemens AG, NVIDIA Corporation, Rockwell Automation Inc., Dassault Systemes SE, Hexagon AB, Autodesk Inc., Trimble Inc., ANSYS Inc., Unity Software Inc., Bentley Systems Incorporated, DeepMind Technologies Limited, General Electric Company, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Hitachi Ltd., Bosch Group
Asia-Pacific was the largest region in the smart connected assets and operations market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart connected assets and operations market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the smart connected assets and operations market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart connected assets and operations market consists of revenues earned by entities by providing services such as remote monitoring and diagnostics, predictive maintenance, cybersecurity management, digital integration, and data analytics and insights services. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart connected assets and operations market also includes sales of smart sensors, industrial gateways, connected control systems, condition monitoring devices, and cloud-based analytics platforms. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Connected Assets And Operations Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses smart connected assets and operations market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart connected assets and operations ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The smart connected assets and operations market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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