Utility Asset Management Market
Utility Asset Management Market Forecasts to 2032 - Global Analysis By Type (Power Grids, Water & Wastewater Systems, Oil & Gas Pipelines, Telecommunication Networks, Renewable Energy Systems and Other Types), Utility Type, Solution Type, Technology , Application and By Geography
|
Years Covered |
2024-2032 |
|
Estimated Year Value (2025) |
US $5.4 BN |
|
Projected Year Value (2030) |
US $8.5 BN |
|
CAGR (2025- 2032) |
6.7% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Utility Asset Management Market is accounted for $5.4 billion in 2025 and is expected to reach $8.5 billion by 2032 growing at a CAGR of 6.7% during the forecast period. Utility Asset Management is the systematic approach to overseeing and maintaining infrastructure used in utility services. It involves managing assets throughout their lifecycle, from acquisition and installation to maintenance and eventual replacement. By integrating technologies like IoT, AI, and predictive analytics, utility providers can enhance efficiency, reduce operational costs, and ensure reliability. This process helps address challenges such as aging infrastructure, regulatory compliance, and environmental concerns, while supporting modernization efforts like smart grids and renewable energy integration
According to Climate Central, about 83% of reported major power outages in the U.S. between 2000 and 2021 are due to weather-related events.
Market Dynamics:
Driver:
Increasing investments in smart grids and digital infrastructure
Governments and private entities are allocating substantial funds to enhance grid reliability, efficiency, and sustainability. The integration of IoT, AI, and big data analytics enables real-time monitoring, predictive maintenance, and optimized asset utilization. Additionally, the shift towards renewable energy sources necessitates advanced asset management systems to ensure seamless integration with existing infrastructure. As utilities strive to improve operational efficiency and reduce downtime, the demand for intelligent asset management solutions continues to rise.
Restraint:
Increased connectivity and data flow raising concerns around cybersecurity
Utility providers must safeguard sensitive operational data from cyberattacks, data breaches, and unauthorized access. The complexity of integrating legacy systems with modern digital solutions further exacerbates security vulnerabilities. Additionally, compliance with stringent regulatory frameworks requires substantial investment in cybersecurity measures, increasing operational costs. As cyber threats evolve, utilities must continuously upgrade their security protocols, encryption techniques, and threat detection mechanisms to mitigate risks.
Opportunity:
Increasing availability and affordability of IoT sensors
These sensors enable real-time asset tracking, condition monitoring, and predictive maintenance, enhancing operational efficiency. The ability to collect and analyze vast amounts of performance data allows utilities to optimize asset utilization and reduce maintenance costs. Additionally, advancements in wireless communication technologies facilitate seamless data transmission, improving decision-making processes. The affordability of smart sensors encourages utilities to deploy scalable asset management solutions, enhancing grid reliability and sustainability.
Threat:
Absence of industry-wide standards
Variability in regulatory requirements, data formats, and interoperability protocols complicates system integration across different utility providers. The absence of standardized frameworks hinders cross-platform compatibility, limiting the effectiveness of asset management solutions. Additionally, inconsistent compliance regulations across regions create operational complexities for multinational utility companies. Without industry-wide standardization, utilities may struggle to achieve seamless data exchange, efficient asset tracking, and optimized resource allocation.
Covid-19 Impact:
Supply chain disruptions led to shortages of essential components, affecting the deployment of smart grid technologies. Additionally, financial constraints forced utilities to reprioritize investments, delaying modernization initiatives. However, the pandemic also accelerated the adoption of remote monitoring and automation technologies, enabling utilities to maintain operational continuity. While the initial impact was negative, the long-term outlook remains positive, with increased focus on automation, predictive analytics, and cybersecurity.
The power grids segment is expected to be the largest during the forecast period
The power grids segment is expected to account for the largest market share during the forecast period due to increasing investments in grid modernization and smart infrastructure. Governments and private entities are actively funding initiatives to enhance grid reliability, efficiency, and sustainability, ensuring seamless energy distribution. The integration of IoT, AI, and predictive analytics into grid management systems enables real-time monitoring, fault detection, and automated maintenance, reducing operational costs and downtime boosting the market growth.
The asset tracking & monitoring segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the asset tracking & monitoring segment is predicted to witness the highest growth rate driven by the increasing adoption of real-time monitoring and predictive maintenance solutions. Utility providers are leveraging advanced sensors, AI-driven analytics, and cloud-based platforms to track asset performance, detect anomalies, and optimize maintenance schedules. Additionally, the growing emphasis on data-driven decision-making is prompting utilities to invest in automated asset tracking systems, ensuring seamless integration with existing infrastructure.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share driven by rapid urbanization, infrastructure development, and government-led smart grid initiatives. Countries such as China, India, Japan, and South Korea are heavily investing in grid modernization projects, aiming to enhance energy efficiency and reliability. The region’s expanding industrial sector and rising electricity demand are further propelling the adoption of utility asset management solutions. Additionally, government policies promoting renewable energy integration are fostering the deployment of advanced asset management technologies to support sustainable energy transitions.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR fueled by technological advancements, regulatory mandates, and increased adoption of AI-driven asset management solutions. The region’s strong focus on grid resilience and cybersecurity is prompting utilities to invest in next-generation asset management technologies to safeguard critical infrastructure. Additionally, the growing penetration of renewable energy sources is driving demand for intelligent asset tracking and monitoring systems, ensuring seamless integration with existing grid networks.
Key players in the market
Some of the key players in Utility Asset Management Market include ABB Ltd, ABS Group, Aclara Technologies, Black & Veatch, DNV GL, Eaton, Fujitsu, General Electric Company, Getac, Hitachi Energy, IBM Corporation, Lindsey Manufacturing, Oracle Corporation, Schneider Electric SE, Sensus, Sentient Energy, and Siemens AG.
Key Developments:
In December 2024, Hitachi Energy signed contracts worth over $2 billion with German grid operator Amprion for the construction of four converter stations as part of Germany's Korridor B project. This initiative aims to support the nation's energy transition by integrating renewable energy sources into the grid.
In September 2024, Oracle CloudWorld, Oracle announced the availability of Oracle Energy and Water Data Intelligence, a data unification, analytics, and AI solution designed for utilities. This solution provides pre-built, industry-specific insights to help utilities make informed decisions faster.
In October 2023, Hitachi Energy launched the next generation of its Asset Performance Management (APM) software solution, Lumada APM. This release includes new modules—Lumada APM reliability and Lumada APM optimization—designed to enhance sustainability, safety, and operational excellence by providing a unified view of assets and asset systems.
Types Covered:
• Power Grids
• Water & Wastewater Systems
• Oil & Gas Pipelines
• Telecommunication Networks
• Renewable Energy Systems
• Other Types
Utility Types Covered:
• Public Utility
• Private Utility
Solution Types Covered:
• Asset Tracking & Monitoring
• Predictive Maintenance
• Condition Assessment
• Risk Analysis
• Asset Lifecycle Management Software
• Other Solution Types
Technologies Covered:
• Internet of Things (IoT)
• Artificial Intelligence (AI) and Machine Learning
• Big Data Analytics
• Cloud Computing
• Geographic Information Systems (GIS)
• Other Technologies
Applications Covered:
• Transformer Management
• Substation Management
• Transmission & Distribution (T&D) Lines Management
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Utility Asset Management Market, By Type
5.1 Introduction
5.2 Power Grids
5.3 Water & Wastewater Systems
5.4 Oil & Gas Pipelines
5.5 Telecommunication Networks
5.6 Renewable Energy Systems
5.7 Other Types
6 Global Utility Asset Management Market, By Utility Type
6.1 Introduction
6.2 Public Utility
6.3 Private Utility
7 Global Utility Asset Management Market, By Solution Type
7.1 Introduction
7.2 Asset Tracking & Monitoring
7.3 Predictive Maintenance
7.4 Condition Assessment
7.5 Risk Analysis
7.6 Asset Lifecycle Management Software
7.7 Other Solution Types
8 Global Utility Asset Management Market, By Technology
8.1 Introduction
8.2 Internet of Things (IoT)
8.3 Artificial Intelligence (AI) and Machine Learning
8.4 Big Data Analytics
8.5 Cloud Computing
8.6 Geographic Information Systems (GIS)
8.7 Other Technologies
9 Global Utility Asset Management Market, By Application
9.1 Introduction
9.2 Transformer Management
9.3 Substation Management
9.4 Transmission & Distribution (T&D) Lines Management
9.5 Other Applications
10 Global Utility Asset Management Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 ABB Ltd
12.2 ABS Group
12.3 Aclara Technologies
12.4 Black & Veatch
12.5 DNV GL
12.6 Eaton
12.7 Fujitsu
12.8 General Electric Company
12.9 Getac
12.10 Hitachi Energy
12.11 IBM Corporation
12.12 Lindsey Manufacturing
12.13 Oracle Corporation
12.14 Schneider Electric SE
12.15 Sensus
12.16 Sentient Energy
12.17 Siemens AG
List of Tables
1 Global Utility Asset Management Market Outlook, By Region (2024-2032) ($MN)
2 Global Utility Asset Management Market Outlook, By Type (2024-2032)
3 Global Utility Asset Management Market Outlook, By Power Grids (2024-2032) ($MN)
4 Global Utility Asset Management Market Outlook, By Water & Wastewater Systems (2024-2032) ($MN)
5 Global Utility Asset Management Market Outlook, By Oil & Gas Pipelines (2024-2032) ($MN)
6 Global Utility Asset Management Market Outlook, By Telecommunication Networks (2024-2032) ($MN)
7 Global Utility Asset Management Market Outlook, By Renewable Energy Systems (2024-2032) ($MN)
8 Global Utility Asset Management Market Outlook, By Other Types (2024-2032) ($MN)
9 Global Utility Asset Management Market Outlook, By Utility Type (2024-2032) ($MN)
10 Global Utility Asset Management Market Outlook, By Public Utility (2024-2032) ($MN)
11 Global Utility Asset Management Market Outlook, By Private Utility (2024-2032) ($MN)
12 Global Utility Asset Management Market Outlook, By Solution Type (2024-2032) ($MN)
13 Global Utility Asset Management Market Outlook, By Asset Tracking & Monitoring (2024-2032) ($MN)
14 Global Utility Asset Management Market Outlook, By Predictive Maintenance (2024-2032) ($MN)
15 Global Utility Asset Management Market Outlook, By Condition Assessment (2024-2032) ($MN)
16 Global Utility Asset Management Market Outlook, By Risk Analysis (2024-2032) ($MN)
17 Global Utility Asset Management Market Outlook, By Asset Lifecycle Management Software (2024-2032) ($MN)
18 Global Utility Asset Management Market Outlook, By Other Solution Types (2024-2032) ($MN)
19 Global Utility Asset Management Market Outlook, By Technology (2024-2032) ($MN)
20 Global Utility Asset Management Market Outlook, By Internet of Things (IoT) (2024-2032) ($MN)
21 Global Utility Asset Management Market Outlook, By Artificial Intelligence (AI) and Machine Learning (2024-2032) ($MN)
22 Global Utility Asset Management Market Outlook, By Big Data Analytics (2024-2032) ($MN)
23 Global Utility Asset Management Market Outlook, By Cloud Computing (2024-2032) ($MN)
24 Global Utility Asset Management Market Outlook, By Geographic Information Systems (GIS) (2024-2032) ($MN)
25 Global Utility Asset Management Market Outlook, By Other Technologies (2024-2032) ($MN)
26 Global Utility Asset Management Market Outlook, By Application (2024-2032) ($MN)
27 Global Utility Asset Management Market Outlook, By Transformer Management (2024-2032) ($MN)
28 Global Utility Asset Management Market Outlook, By Substation Management (2024-2032) ($MN)
29 Global Utility Asset Management Market Outlook, By Transmission & Distribution (T&D) Lines Management (2024-2032) ($MN)
30 Global Utility Asset Management Market Outlook, By Other Applications (2024-2032) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We offer complimentary customization of up to 15% with every purchase. To share your customization requirements, feel free to email us at info@strategymrc.com or call us on +1-301-202-5929. .
Please Note: Customization within the 15% threshold is entirely free of charge. If your request exceeds this limit, we will conduct a feasibility assessment. Following that, a detailed quote and timeline will be provided.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
