Bentley Systems' Strategic Expansion in AI-Driven Asset Analytics: A Catalyst for Long-Term Growth

The global infrastructure sector is undergoing a transformative shift driven by artificial intelligence (AI) and digital twin technologies. As governments and private entities prioritize sustainable urban development and resilient infrastructure, companies at the forefront of this innovation are poised to capture significant value. Bentley Systems, a leader in infrastructure engineering software, has emerged as a standout player in this space, leveraging AI and digital twins to redefine asset analytics and project delivery. This article examines Bentley's strategic initiatives, financial performance, and competitive positioning, arguing that its AI-driven approach represents a high-conviction investment opportunity.

Strategic Initiatives: AI and Digital Twins as Core Growth Drivers

Bentley Systems has aggressively integrated AI and digital twin technologies into its product portfolio, positioning itself as a pioneer in infrastructure innovation. The company's iTwin platform, enhanced by the 2024 acquisition of Cesium, now offers advanced 3D geospatial capabilities for infrastructure decision-making and asset performance analysis. This platform is central to Bentley's vision of creating "living digital twins" that enable real-time monitoring and predictive maintenance of infrastructure assets.

The company's AI strategy is equally robust. At its 2025 Year in Infrastructure conference, Bentley unveiled tools like Bentley Copilot, a context-aware AI assistant that streamlines complex workflows, and ProjectWise, which incorporates AI-powered search capabilities to improve collaboration. These innovations are designed to address the global engineering capacity gap, automating repetitive tasks and enabling engineers to focus on high-value decision-making. According to a survey, nearly half of infrastructure professionals are already piloting AI or have implemented it, with plans to scale adoption across design, engineering, and construction processes.

Financial Performance: Strong Subscription Growth and Market Momentum

Bentley's strategic focus on AI and digital twins is translating into tangible financial results. For the third quarter of 2025, the company reported 10.5% year-over-year constant currency ARR growth, with Annual Recurring Revenue (ARR) reaching $1,405.2 million. Subscription revenue, which now accounts for 92% of total revenues, grew 12.0% year-over-year to $344.3 million in Q3 2025. This performance underscores the resilience of Bentley's subscription-based model, which provides predictable cash flows and high customer retention.

The company's reinvestment of approximately 20% of revenue into R&D further strengthens its competitive edge, ensuring continuous innovation in AI and digital twin capabilities. Strategic partnerships, such as its alliance with Google Cloud, are also critical to expanding its asset analytics and real-time digital twin offerings. These collaborations enable Bentley to tap into adjacent markets like renewable energy and smart cities, where demand for infrastructure analytics is surging.

Market Validation: AI and Digital Twins in Infrastructure

The infrastructure AI and digital twin market is experiencing exponential growth, with the AI in construction market projected to reach $24.30 billion by 2030 at a CAGR of 16.90%. Bentley's focus on infrastructure-specific applications aligns with this trend. For instance, the Dublin Fire Brigade has adopted Bentley's iTwin platform to create a digital twin for emergency response, enabling firefighters to access a cloud-based model of the city's urban landscape. Such use cases highlight the practical value of digital twins in enhancing safety and operational efficiency.

Bentley's competitive positioning is further reinforced by its ability to address structural challenges in the infrastructure sector. A report by StocksFoundry notes that the engineering industry faces a labor shortage crisis, with AI-driven tools like Bentley's OpenSite+ and OpenUtilities Substation+ helping to close capacity gaps by automating 2D construction documentation and collaborative design workflows. This capability positions Bentley at the center of a multi-year growth tailwind.

Competitive Landscape: Bentley vs. Autodesk and Trimble

While Autodesk and Trimble are formidable competitors in the infrastructure software space, Bentley's focus on enterprise-scale BIM solutions for infrastructure differentiates it. Autodesk, with a broader portfolio spanning design, media, and manufacturing, holds a 35–45%+ market share in core CAD drafting. However, Bentley's iTwin platform and open modeling tools are tailored for large-scale public infrastructure projects, such as roads, railways, and water networks, where its expertise is unmatched according to industry analysis.

Trimble, known for its hardware-software integration, excels in heavy civil and construction analytics but lacks Bentley's depth in digital twin capabilities for infrastructure. A 2025 market analysis highlights that Bentley's open platform approach fosters broader industry collaboration, while Trimble's field-focused AI tools cater to on-site applications. Meanwhile, Autodesk's emphasis on cloud-based collaboration and generative design positions it as a leader in integrated workflows but does not match Bentley's infrastructure-specific focus.

Market Size and Growth Projections

The digital twin market is expected to grow from $9.3 billion in 2025 to $177.5 billion by 2035, with a CAGR of 34.3%. This growth is driven by increasing adoption in sectors like smart cities, healthcare, and manufacturing, as well as the integration of AI and IoT for predictive analytics. Bentley's strategic alignment with these trends-through its AI-powered tools and partnerships-positions it to capture a significant share of this expanding market.

Challenges such as high implementation costs and cybersecurity concerns remain, but the shift toward cloud-native platforms is reducing barriers to entry. Bentley's collaboration with Google Cloud and its focus on scalable, secure solutions address these pain points, making its offerings attractive to both large enterprises and SMEs.

Conclusion: A High-Conviction Investment

Bentley Systems' strategic expansion in AI-driven asset analytics and digital twins is a compelling catalyst for long-term growth. With strong financial performance, a robust R&D pipeline, and a clear focus on infrastructure-specific use cases, the company is well-positioned to capitalize on the multi-decade tailwinds of urbanization, sustainability, and digital transformation. As the infrastructure sector grapples with labor shortages and rising complexity, Bentley's AI-powered tools and digital twin platforms offer a scalable solution that aligns with both market demand and investor expectations.

For investors seeking exposure to the next phase of infrastructure innovation, Bentley Systems represents a high-conviction opportunity-a company not just adapting to change but actively shaping the future of the industry.