We study the relationship between POV-measures in quantum theory and asymptotic morphisms in the operator algebra E-theory of Connes-Higson. This is done by introducing the theory of asymptotic PV-measures and their integral correspondence with positive asymptotic morphisms on locally compact spaces. Examples and applications involving various aspects of quantum physics, including quantum noise models, semiclassical limits, strong deformation quantizations, and pure half-spin particles, are also discussed.