Trends Analysis of the Asset Twins for Utilities Market by Application, Vertical, Region & Segment with Forecast to 2030

The Business Research Company

The Business Research Company's Asset Twins for Utilities Market Report 2026 – Market Size, Trends, And Global Forecast 2026-2035

It will grow from $2.23 billion in 2025 to $2.67 billion in 2026 at a compound annual growth rate (CAGR) of 20.1%”

— The Business Research Company

LONDON, GREATER LONDON, UNITED KINGDOM, February 26, 2026 /EINPresswire.com/ -- The asset twins for utilities market is gaining significant attention as utility companies increasingly adopt digital tools to enhance operational efficiency and asset management. This emerging technology is transforming how utilities monitor and maintain their infrastructure, promising substantial growth and innovation in the sector. Let’s explore the current market size, key growth drivers, leading regions, and important trends shaping this industry.

Steady Expansion in Asset Twins for Utilities Market Size
The asset twins for utilities market growth has shown remarkable growth in recent years. It is projected to increase from $2.23 billion in 2025 to $2.67 billion in 2026, reflecting a strong compound annual growth rate (CAGR) of 20.1%. The historical expansion is primarily driven by rising investments in modernizing utility infrastructure, the widespread rollout of smart grid systems, increased demand for operational transparency, broader adoption of asset performance management solutions, and advancements in data integration technologies.

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Future Growth Outlook for Asset Twins in Utilities
Looking ahead, the market is expected to continue its rapid growth trajectory, reaching an estimated size of $5.61 billion by 2030 with a CAGR of 20.4%. The forecast period’s growth is attributed to heightened emphasis on predictive maintenance, increased funding for integrating renewable energy sources, the expansion of sophisticated grid analytics, stronger focus on infrastructure resilience, and more widespread use of cloud-native platforms dedicated to utility management. Emerging trends during this time include greater deployment of predictive asset monitoring solutions, real-time utility digital twins, IoT sensor network integration, expansion of cloud-based platforms, and enhanced efforts to improve grid reliability and resilience.

Understanding Asset Twins for Utilities Technology
Asset twins for utilities involve creating digital replicas of physical utility assets by merging real-time data, historical records, and advanced analytics. This technology provides continuous monitoring, simulation, and performance evaluation, helping to boost asset reliability and streamline operations. It enables utilities to gain predictive insights, minimize risks, and make well-informed decisions across their infrastructure, ultimately leading to improved operational outcomes.

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The Internet of Things as a Key Growth Driver
One of the most significant factors propelling the growth of asset twins for utilities is the increasing adoption of the Internet of Things (IoT). IoT refers to an interconnected network of devices that automatically collect, exchange, and act upon data via the internet. The demand for smart, connected systems that support automation, real-time monitoring, and enhanced efficiency continues to rise. Asset twins complement IoT by providing digital copies of physical assets, enabling utilities to conduct real-time monitoring, perform predictive maintenance, and optimize operations through connected sensors and data analytics. For example, in July 2025, the European Commission reported that the number of installed IoT-connected devices reached approximately 40 billion in 2023, with expectations to grow to 49 billion by 2026, representing an annual increase of 7%. This widespread IoT adoption is a major catalyst for the asset twins market.

Regional Insights Highlighting Market Leaders and Fastest Growth Areas
In 2025, North America held the largest share of the asset twins for utilities market, establishing itself as a key regional player. However, the Asia-Pacific region is anticipated to experience the fastest growth during the forecast period. The market analysis includes regions such as Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, providing a broad view of global developments and opportunities in this field.

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