- The integration of artificial intelligence and machine learning algorithms into asset management systems is allowing organizations to optimize their operations further and reduce downtime
- The increasing emphasis on sustainability is pushing companies to invest in smart technologies that enhance operational efficiency and minimize environmental impact. As a result, the smart connected assets and operations market is poised for robust growth, with substantial opportunities for innovation and expansion
- North America dominated the smart connected assets and operations market with the largest revenue share of 38.98% in 2024, high adoption of industrial IoT (IIoT), advanced analytics platforms, and strong infrastructure for smart operations across industries
- Asia-Pacific market is projected to grow at the fastest CAGR of 12.89% from 2025 to 2032, led by rapid industrialization, infrastructure expansion, and growing investments in IIoT and smart asset platforms in China, India, Japan, and Southeast Asia
- The Hardware segment dominated the smart connected assets and operations market with the largest market revenue share of 46.3% in 2024, driven by the rising deployment of IoT sensors, actuators, gateways, and edge devices across industries
