This research evaluated pavement marking performance and developed useful degradation models for thermoplastic and paint pavement markings which can help North Carolina meet the pending FHWA minimum retroreflectivity requirements. The impacts of several important factors (such as lateral location, directionality, region, and pavement roughness) on pavement marking retroreflectivity were evaluated. With two large datasets in hand, the authors determined whether these factors had significant impacts on marking retroreflectivity. Image processing techniques were used to analyze pavement marking surface glass bead density. The authors were able to explain why paint marking retroreflectivity values degraded over time by evaluating the impact of bead density on paint marking retroreflectivity. The research reviewed existing marking retroreflectivity degradation models and developed useful new models for both thermoplastic and paint pavement markings in North Carolina. The research presented a transportation asset management system framework for estimating the current and future condition of pavement markings. The research outcomes enable the North Carolina Department of Transportation to have a better understanding of thermoplastic and paint pavement marking performance, which can lead to cost saving by maximizing pavement marking service lifecycles.