Discussions about establishing an international society for the area of condition monitoring were started in 2009 and the ISCM was founded in 2010. The aim is to integrate activities on condition monitoring internationally.
The ISCM has been actively involved in the organizing together with BINDT  
The Condition Monitoring (CM) conferences
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. The International Conference on Condition Monitoring and Machinery Failure Prevention Technologies (CM-MFPT) conferences have been organised annually together with the Society for Machinery Failure Prevention Technology (MFPT). The International Conference on Maintenance, Condition Monitoring and Diagnostics 
(MCMD)
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 came to the family of ISCM conferences in 2010.The ISCM has been actively involved with the European Federation of NDT. Close collaboration has continued with several related conferences. Multiple CM sessions were organised by ISCM at the World Congress of NDT in 2012.   Cooperation with the Non-Destructive Testing (NDT) conferences has continued with co-located conferences. 
The 14th CM-MFPT conference was incorporating with the First World Congress on Condition Monitoring (WCCM 2017). 
The World Congress
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 is organised every second year. Conferences are indexed by Scopus. From 2019 onwards the CM-conference has been International Conference on Condition Monitoring and Asset Management. 
For 
Education and Training
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, a collaborative network of higher educational institutions worldwide was started already during the first year of the ISCM in the area of condition monitoring and related topics. The collaboration has strengthened during the years. 
The ISCM became a private company limited by guarantee (LBG) on July 7, 2017.
The member societies and corporate members
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 provide unique opportunities to network with leading 
academics and industrialists from all over the world in the field of 
condition monitoring and related areas. The ISCM started already during the first years  to establish a network with the condition monitoring societies and institutes worldwide.