An academic–industry team present the results of research conducted into the current benefits being derived from the use of digital twins across the entire life cycle of an asset. The team reviewed the benefits being derived by the asset-management community, as it is through this that through life productivity and effectiveness benefits will be realised. The team conducted a review of relevant literature, surveyed 122 practitioners and worked with their industry partner and a UK professional body to validate their conclusions. Specifically, (a) the authors examined the current application of digital twins in three industry sectors: process industries, infrastructure (civil engineering) and manufacturing. (b) The authors grouped the data according to role types – namely, professionals working predominantly in design and build and professionals in the operation and maintenance part of the life cycle. As regards the sector results, the responses were found to be contradictory. When controlling by role type, the results are more cohesive. Individuals involved in the operation and maintenance stages consistently indicated that digital twins are not delivering on their promise. The authors present a series of problem statements to define the current state, together with some managerial recommendations, and the authors propose further work to establish detailed guidance for infrastructure sector projects.