Latest News- Applied AI In Energy And Utilities Market: Cloud-based is expected to lead the Deployment segment during 2025-2029

The Applied AI In Energy And Utilities Market is being driven by Critical imperative for grid modernization and resilience

The Applied AI In Energy And Utilities Market is expected to grow at a CAGR of 27.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1461 million. The energy and utilities sector is undergoing a significant transformation, transitioning from traditional machine learning applications to the adoption of Generative Artificial Intelligence (AI). This shift signifies a profound evolution in the way organizations manage their critical assets, anticipate operational challenges, and train the upcoming workforce. Generative AI goes beyond conventional predictive models by generating new, synthetic data and intricate simulations, thereby unlocking unparalleled opportunities for enhancing operational resilience and efficiency. The primary catalyst for this trend is the escalating complexity of energy systems, coupled with the pressing necessity to extend asset life, minimize unscheduled downtime, and optimize capital expenditure in the face of mounting costs and stringent regulatory requirements. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • Cloud-based
  • On-premises
• Application
  • Renewables management
  • Demand forecasting
  • Grid management
  • Energy management and optimization
  • Others
• Technology
  • Machine learning
  • Predictive analytics
  • Deep learning
  • Computer vision
  • Others
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Critical imperative for grid modernization and resilience
• Global mandate for decarbonization and renewable energy integration
• Unrelenting pursuit of operational efficiency and cost reduction

However, the market also witnesses some limitations, which are as follows:

• Navigating data security, privacy, and governance complexities
• Prohibitive initial investment and complex legacy system integration
• Acute scarcity of specialized talent and the imperative for workforce reskilling

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Market Scope in Applied AI In Energy And Utilities Market Research Report

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Research Analysis Overview

In the Applied AI market for Energy and Utilities, advanced technologies such as energy system modeling, power grid automation, and renewable integration AI are driving innovation. Grid modernization AI, data-driven energy, and AI-powered fault detection are key components of this transformation. Energy blockchain technology, risk assessment AI, sensor data analysis, and predictive asset management are also essential. AI is revolutionizing energy infrastructure through intelligent energy pricing, renewable energy optimization, autonomous grid control, and AI-driven fraud detection. Energy market simulation, power quality monitoring, microgrid control systems, demand response optimization, energy conservation strategies, thermal plant optimization, hydropower plant AI, wind turbine maintenance, and solar panel performance are all areas benefiting from AI applications.

Market Research Overview

The Applied AI market in Energy and Utilities is a significant segment of the global application software industry. This market encompasses the use of AI-driven grid optimization solutions, predictive maintenance AI systems, and renewable energy forecasting technologies. Companies specializing in these applications contribute to the IT software market, which encompasses providers of all types of software, including cloud-based solutions. According to Technavio, the global IT software market size is determined by the consolidated revenue of these businesses. This market excludes entities engaged in interactive home entertainment software or systems and database management software production.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/