Press release
Generative Artificial Intelligence (AI) In Utilities Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Generative Artificial Intelligence (AI) In Utilities
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What Is the Projected Growth of the Generative Artificial Intelligence (AI) In Utilities Market?_x000D_
The generative artificial intelligence (AI) in utilities market size has grown significantly in recent years. It is projected to grow from $1.03 billion in 2024 to $1.4 billion in 2025 at a compound annual growth rate (CAGR) of 36.7%. This growth is attributed to the 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._x000D_
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The generative artificial intelligence (AI) in utilities market is projected to reach $4.86 billion by 2029, growing at a compound annual growth rate (CAGR) of 36.4%. This growth is driven by increased demand for predictive maintenance, grid management, energy optimization, integration of renewable energy sources, AI advancements, rising AI investments, and regulatory support for digital tran_x000D_
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What Are the Different Generative Artificial Intelligence (AI) In Utilities Market Segments?_x000D_
The generative artificial intelligence (AI) in utilities market covered in this report is segmented -_x000D_
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1) By Type: Electricity Generation, Transmission And Distribution, Customer Engagement And Energy Efficiency, Water And Wastewater Management, Gas And Oil Utilities, Renewable Energy Integration_x000D_
2) By Deployment: On-Premises, Cloud-Based, Hybrid, Edge Computing, Collaborative, Customized In-House_x000D_
3) By Application: Create Personalized Customer Experiences, Improve Asset Management, Develop New Products And Services, Improve Safety, Other Applications_x000D_
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Subsegments:_x000D_
1) By Electricity Generation: Predictive Maintenance For Power Plants, Energy Demand Forecasting, Load Balancing And Optimization, Grid Management Solutions_x000D_
2) By Transmission And Distribution: Smart Grid Technologies, Fault Detection And Diagnostics, Real-Time Monitoring Systems, Asset Management Solutions_x000D_
3) By Customer Engagement and Energy Efficiency: Personalized Energy Management Tools, Customer Behavior Analytics, Energy Usage Forecasting, Loyalty and Rewards Programs_x000D_
4) By Water and Wastewater Management: Leak Detection and Monitoring Systems, Water Quality Analysis Tools, Demand Forecasting For Water Supply, Wastewater Treatment Optimization_x000D_
5) By Gas and Oil Utilities: Pipeline Monitoring And Integrity Management, Leak Detection Technologies, Supply Chain Optimization, Predictive Maintenance For Equipment_x000D_
6) By Renewable Energy Integration: Energy Storage Management, Integration Of Distributed Energy Resources (DERs), Microgrid Management Solutions, Renewable Energy Forecasting_x000D_
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What Are the Primary Drivers Shaping the Generative Artificial Intelligence (AI) In Utilities Market?_x000D_
Increased use of renewable energy is expected to support the rise of generative artificial intelligence (AI) in the utilities market. Renewable sources like wind and solar are gaining traction due to falling costs and environmental benefits. Generative AI helps optimize resource management and reduce fossil fuel use. The European Environment Agency reported in March 2024 that renewables accounted for 23% of EU energy use in 2022, up from 21.9% in 2021. Therefore, rising renewable energy use is pushing generative AI in utilities._x000D_
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Which Companies Are Leading in the Generative Artificial Intelligence (AI) In Utilities Market?_x000D_
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._x000D_
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What Trends Are Driving Growth in The Generative Artificial Intelligence (AI) In Utilities Market?_x000D_
In the utility market, companies are focusing on real-time data-driven insights to enhance decision-making and operational efficiency. Databricks Inc. launched a data intelligence platform in April 2024, which integrates AI models and real-time data to optimize maintenance, improve grid performance, and reduce costs in the energy sector._x000D_
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What Are the Top Revenue-Generating Geographies in the Generative Artificial Intelligence (AI) In Utilities Market?_x000D_
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._x000D_
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Frequently Asked Questions:_x000D_
1. What Is the Market Size and Growth Rate of the Generative Artificial Intelligence (AI) In Utilities Market?_x000D_
2. What is the CAGR expected in the Generative Artificial Intelligence (AI) In Utilities Market?_x000D_
3. What Are the Key Innovations Transforming the Generative Artificial Intelligence (AI) In Utilities Industry?_x000D_
4. Which Region Is Leading the Generative Artificial Intelligence (AI) In Utilities Market?_x000D_
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Why This Report Matters:_x000D_
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Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors._x000D_
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Informed Decisions: Understand key strategies related to products, segmentation, and industry trends._x000D_
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Efficient Research: Quickly identify market growth, leading players, and major segments.
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