Asset management has evolved on many levels alongside the technological and conceptual developments that have characterized the smart grid movement. Such developments include the extension of telemetry, big data analytics, and advanced sensor technologies. Yet, most utilities today still use a run-to-failure strategy to handle asset management in the power grid, as they have not been motivated to incorporate sensing or monitoring technology into their networks. Regardless of declining costs for these technologies, it is a challenge to integrate new networked devices and understand higher volumes of transmitted data points. Simultaneously, utilities are faced with additional challenges, such as the need to improve operational and capital costs, facilitate intermittent renewables, and meet more stringent reliability standards in the face of disruptive loads and changing weather patterns. To that end, utilities are becoming interested in applying cross-departmental approaches to gathering information to develop a more holistic asset management and condition monitoring (AMCM) strategy. These approaches entail a better understanding of asset states and using this knowledge to develop a predictive risk-based management strategy?as opposed to responsive. According to Navigant Research, global revenue for power grid AMCM devices and solutions is expected to grow from $2.1 billion in 2016 to $5.3 billion in 2025. This Navigant Research report analyzes the global market for AMCM solutions and describes where they are needed in the grid. The study discusses significant market drivers and applications and outlines challenges to deployment. Global market forecasts for condition monitoring sensors in the grid and asset management software solutions, including asset management as a service (AMaaS) and analytics, extend through 2025. Sensor forecasts are segmented by location in the grid, including transmission and distribution substations, transmission lines, distribution lines, and distribution transformers. The report also provides in-depth profiles of key vendors and examines several utility deployment case studies.