How large is the generative artificial intelligence (ai) in utilities market, and what is its growth trajectory?
The generative artificial intelligence (AI) in utilities market size has grown exponentially in recent years. It will grow from $1.03 $ billion in 2024 to $1.4 $ billion in 2025 at a compound annual growth rate (CAGR) of 36.7%. The growth in the historic period can be attributed to increasing demand for energy efficiency, integration of renewable energy sources, regulatory pressures, the rise of smart grid technologies, improvements in computing power, and cost reduction in AI technologies.
The generative artificial intelligence (AI) in utilities market size is expected to see exponential growth in the next few years. It will grow to $4.86 $ billion in 2029 at a compound annual growth rate (CAGR) of 36.4%. The growth in the forecast period can be attributed to increased demand for predictive maintenance, enhanced grid management, optimized energy consumption, integration of renewable energy sources, advancements in AI algorithms, rising investments in AI technologies, and regulatory support for digital transformation. Major trends in the forecast period include advancing smart grid management, enabling personalized energy solutions, enhancing simulation capabilities, improving customer engagement through AI-powered support, fostering sustainable practices, and streamlining regulatory compliance processes.
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What are the key forces behind the generative artificial intelligence (ai) in utilities market’s growth in recent years?
The increasing utilization of renewable energy sources is expected to propel the growth of generative artificial intelligence (AI) in the utilities market going forward. Renewable energy sources are natural resources that can be replenished naturally and used to generate energy, such as solar, wind, hydro, geothermal, and biomass. The use of renewable energy sources is rapidly increasing due to their scalability, decreasing costs, and widespread adoption. Generative artificial intelligence helps utilities, such as renewable energy sources, by providing sustainable data-driven insights for optimizing energy management and reducing reliance on fossil fuels. For instance, in March 2024, the European Environment Agency, a Denmark-based government agency for environment-related data, reported that in 2022, 23% of the energy consumed in the EU came from renewable sources, up from 21.9% in 2021. Therefore, increasing utilization of renewable energy sources is driving the growth of generative artificial intelligence (AI) in utilities market.
What are the major segments of the generative artificial intelligence (ai) in utilities market?
The generative artificial intelligence (AI) in utilities market covered in this report is segmented –
1) By Type: Electricity Generation, Transmission And Distribution, Customer Engagement And Energy Efficiency, Water And Wastewater Management, Gas And Oil Utilities, Renewable Energy Integration
2) By Deployment: On-Premises, Cloud-Based, Hybrid, Edge Computing, Collaborative, Customized In-House
3) By Application: Create Personalized Customer Experiences, Improve Asset Management, Develop New Products And Services, Improve Safety, Other Applications
Subsegments:
1) By Electricity Generation: Predictive Maintenance For Power Plants, Energy Demand Forecasting, Load Balancing And Optimization, Grid Management Solutions
2) By Transmission And Distribution: Smart Grid Technologies, Fault Detection And Diagnostics, Real-Time Monitoring Systems, Asset Management Solutions
3) By Customer Engagement and Energy Efficiency: Personalized Energy Management Tools, Customer Behavior Analytics, Energy Usage Forecasting, Loyalty and Rewards Programs
4) By Water and Wastewater Management: Leak Detection and Monitoring Systems, Water Quality Analysis Tools, Demand Forecasting For Water Supply, Wastewater Treatment Optimization
5) By Gas and Oil Utilities: Pipeline Monitoring And Integrity Management, Leak Detection Technologies, Supply Chain Optimization, Predictive Maintenance For Equipment
6) By Renewable Energy Integration: Energy Storage Management, Integration Of Distributed Energy Resources (DERs), Microgrid Management Solutions, Renewable Energy Forecasting
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Which companies dominate the generative artificial intelligence (ai) in utilities market?
Major companies operating in the generative artificial intelligence (AI) in utilities market are Microsoft Corporation, Hitachi Ltd, Amazon Web Services Inc., Siemens AG, General Electric Company, IBM Corporation, Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd., NVIDIA Corporation, Capgemini SE, Eaton Corporation, Infosys Limited, Emerson Electric Co., Wipro Limited, Rockwell Automation Inc., The Tata Power Company Ltd., AVEVA Group plc, C3.ai Inc., SparkCognition Inc., Bidgely Inc.
What major trends will shape the generative artificial intelligence (ai) in utilities market during the forecast period?
Major companies operating in generative artificial intelligence (AI) in the utility market focus on providing real-time insights aligned with the trend of using data-driven approaches, such as a unified platform for the energy sector, to enhance operational efficiency and provide advanced data analytics for better decision-making. A unified platform for the energy sector is a comprehensive system that combines different technologies to optimize operations, boost data analysis, and support informed decision-making. For instance, in April 2024, Databricks Inc., a US-based data and AI company, launched a data intelligence platform. It features large language model (LLM)-powered chatbots for personalized user support, Internet of Things (IoT) predictive maintenance to optimize uptime and reduce costs, real-time data processing with digital twins, artificial intelligence (AI) or machine learning (ML) models for wind turbine maintenance, and grid-edge analytics to enhance grid performance and prevent outages. Additionally, the real-time data ingestion platform (RTDIP) offers a cloud-native framework for data standardization and predictive analytics.
What are the key regional dynamics of the generative artificial intelligence (ai) in utilities market, and which region leads in market share?
North America was the largest region in the generative artificial intelligence (AI) in the utilities market in 2024. The regions covered in the generative artificial intelligence (AI) in utilities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Generative Artificial Intelligence (AI) In Utilities Market Report 2025 Offer?
The generative artificial intelligence (ai) in utilities market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Generative artificial intelligence (AI) in utilities refers to the use of advanced AI algorithms to optimize and innovate various aspects of utility management. It includes applications such as predictive maintenance, energy consumption forecasting, smart grid optimization, and renewable energy integration. Generative AI can improve efficiency, reduce costs, and enhance service reliability by analyzing vast amounts of data. This technology helps utilities manage resources more effectively and sustainably.
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