Artificial Intelligence Market In Energy & Utilities - Forecast(2021 - 2026)

Report Code: ITR 0101 Report Format: PDF + Excel (Delivery in 48 Hrs)

AI in Energy and Utilities Market Overview

The market for AI in Energy and Utilities is forecast to reach $4.5 billion by 2026, growing at a CAGR of 32.75% from 2021 to 2026. The market is driven by the rapid demand for power and dearth of information grid in power generation. Artificial intelligence (AI) is an extent of computer technology that highlights the formation of intelligent machines that work and react like humans. The energy and utility sector involves in production and distribution of energy constitutes of oil and gas, power generation and others. As technologies are getting advanced, the energy and utility sector is experiencing a rapid change in price collision and energy storing technologies. Artificial intelligence creates drastic changes in the energy and utility sectors. The effects of AI technology can be seen in their applications such as smart autonomous grid, energy distribution system and so on.  Heavy investment is one of the biggest challenge hindering the growth of this technology in energy and utilities sector.  

Report Coverage

The report: “AI in Energy and Utilities Market– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the AI in Energy and Utilities Market.
By Type – Solutions, Services.
By Application – Robotics, Renewables Management, Demand Forecasting, Safety & Security and Infrastructure and Others.
By End Use – Energy Generation, Energy Transmission, Energy Distribution, Utilities.
By Geography - North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa).

Key Takeaways

  • Deployment of AI into energy sector resulted in drastic changes in the transmogrification of energy in energy sources distribution. AI has brought advancement in the devices for auto detection and other energy infrastructure.
  • Both Energy & Utility sectors have proven to be the most innovative in the application of Artificial Intelligence. 
  • Energy production has been influenced by Artificial Intelligence in more ways than one. For example it helped in optimizing drilling by identifying the right spots of energy resources for drilling.

AI in Energy and Utilities Market Segment Analysis - By Application

Demand Forecasting has dominated the AI in Energy and Utilities Market as compared to the other applications due to rising demand for efficiency improvements drive the adoption of AI technology for this application. Artificial intelligence are now deployed in energy and utilities too. Some applications are storage, autonomous grid, failure management, upstream exploration, energy consumption, load forecasting, yield optimizing, predictive maintenance, device management, energy theft. A significant share of companies involved in Energy and Utilities already bestowed training to their employees on AI related and other big data frameworks while the remaining are showing signs of interest to move towards AI.

AI in Energy and Utilities Market Segment Analysis - By End Use Industry

The Utilities sector has been witnessing significant growth among End Use Industries. AI can be integrated with all the cycles of electricity i.e. from generation to transmission and energy distribution to the end users. The autonomous energy grid is the new technology which is self-organized and can control itself by employing advanced AI machine learning techniques, and simulate to create resilient, useful, and affordable optimizing energy systems. NREL (National Renewable Energy Laboratories) is working to develop these energy grids that can be optimized for secure, resilient, and economic operations. This technology will change the whole scenario in which the energy is generated and distributed. AI will mark the paradigm shift in energy and utilities market.

AI in Energy and Utilities Market Segment Analysis - By Geography

North America dominates the AI in Energy and Utilities Market at a share of 42% due to the increasing adoption of technological advancements in the region. However, APAC witnesses highest growth during the forecast period. Artificial Intelligence in Energy and Utilities Market is driven by vast range of energy production in nations like the U.S and Brazil. The key applications in the region include Robotics and Demand forecasting among others.

AI in Energy and Utilities Market Drivers

Technological Advancement driving new applications

Energy and utilities sectors are innovating their products with the help of AI technology. NextEra Energy invested in machine learning based wind projects in U.S. The project is initiated to avoid any power fluctuations in nearby areas. Duke Energy implemented power plants over some areas in the U.S by converging the Industrial IOT and AI system to predict and analyze power failure. There are some other key players, such as Southern Company and Dominion Resources. Southern Company started its project to save energy consumption as they implemented AI system to predict and provide the amount of energy required in specific areas. Dominion Resources are focused towards grid analytics and control with the help of machine learning. These advancements are developing new applications in the energy sector thereby driving the market.

Rise of Microgrid Adoption

The rise of Microgrid adoption, especially due to implementation of smart cities will drive the market. The microgrid market is evolving and growing rapidly. Many governmental organizations are investigating the viability of microgrids to enable continuation of service during an emergency or power outage. Emerging with different technologies such as distributed energy resources and blockchain, AI has potential to deliver the active management which is the requirement of the future. Powerful AI will have that much capability to balance grids, demands, negotiate actions, self-healing and facilitating the host of new products and services. Siemens is designing self-sufficient smart autonomous microgrid system in Finland. Currently, the investment on this project is not predicted, but concerning about renewable energy and new technology, the Ministry of Economic Affairs and Employment (MEAE) gone through their projects and taken their investments in granted. This rise of microgrid and smart grid will drive the adoption of AI in Energy sector.

AI in Energy and Utilities Market Challenges

Concerns Regarding Data Privacy

Privacy concerns are cropping up as companies feed more and more consumer and vendor data into advanced, AI-fuelled algorithms to create new bits of sensitive information, unbeknownst to affected consumers and employees. This is especially prevalent in the utilities sector, where consumer data collection has been at the forefront in terms of big data challenges. These data privacy concerns will hinder the adoption of AI especially in utilities sector.

Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the AI in Energy and Utilities Market. The AI in Energy and Utilities Market is dominated by major companies such as Alpiq (Switzerland), SmartCloud Inc. (U.S.), General Electric (U.S.), Siemens AG (Germany), Hazama Ando Corporation (Japan), ATOS SE (France), AppOrchid Inc. (U.S), Zen Robotics Ltd. (Finland) and others.

Acquisitions/Technology Launches/Partnerships

  • DeepMind, a startup acquired by Google, will add artificial intelligence to the electricity system of UK, based on plans of the UK’s National Grid. The project will process information from various parameters such as weather forecasts, internet searches for incidents that may affect demand and so on and predict electricity demand. For example, heat waves would raise the demand for using air conditioning, and raise the consumption.
  • Siemens released new software known as active network management (ANM) to predict interaction of grids with different energy loads and track changes. The tracking should remove the need for manual adjustments and may open up new avenues such as charging of electric vehicles.

1. Artificial Intelligence Market In Energy & Utilities - Overview
1.1. Definitions and Scope
2. Artificial Intelligence Market In Energy & Utilities - Executive summary
2.1. Market Revenue, Market Size and Key Trends by Company
2.2. Key Trends by type of Application
2.3. Key Trends segmented by Geography
3. Artificial Intelligence Market In Energy & Utilities 
3.1. Comparative analysis
3.1.1. Product Benchmarking - Top 10 companies
3.1.2. Top 5 Financials Analysis
3.1.3. Market Value split by Top 10 companies
3.1.4. Patent Analysis - Top 10 companies
3.1.5. Pricing Analysis 
4. Artificial Intelligence Market In Energy & Utilities – Startup companies Scenario Premium
4.1. Top 10 startup company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Market Shares
4.1.4. Market Size and Application Analysis
4.1.5. Venture Capital and Funding Scenario
5. Artificial Intelligence Market In Energy & Utilities – Industry Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing business index
5.3. Case studies of successful ventures
5.4. Customer Analysis – Top 10 companies
6. Artificial Intelligence Market In Energy & Utilities Forces
6.1. Drivers
6.2. Constraints
6.3. Challenges
6.4. Porters five force model
6.4.1. Bargaining power of suppliers
6.4.2. Bargaining powers of customers
6.4.3. Threat of new entrants
6.4.4. Rivalry among existing players
6.4.5. Threat of substitutes 
7. Artificial Intelligence Market In Energy & Utilities -Strategic analysis
7.1. Value chain analysis
7.2. Opportunities analysis
7.3. Product life cycle
7.4. Suppliers and distributors Market Share
8. Artificial Intelligence Market In Energy & Utilities – By Technology (Market Size -$Million / $Billion)
8.1. Market Size and Market Share Analysis 
8.2. Application Revenue and Trend Research
8.3. Product Segment Analysis
8.3.1. Introduction
8.3.2. Machine Learning
8.3.3. Natural Language Processing
8.3.4. Computer Vision
8.3.5. Others
9. Artificial Intelligence Market In Energy & Utilities – Types (Market Size -$Million / $Billion)
9.1. Narrow Artificial Intelligence
9.2. Artificial General Intelligence
9.3. Artificial Super Intelligence
10. Artificial Intelligence Market In Energy & Utilities – Categories (Market Size -$Million / $Billion)
10.1. Renewable Management
10.1.1. Renewable Forecasting
10.1.2. Equipment Maintenance
10.1.3. Wind and solar efficiency
10.1.4. Storage Analysis
10.2. Demand Management
10.2.1. Energy Efficiency
10.2.2. Energy Management Systems
10.2.3. DR Management
10.2.4. DR Game Theory
10.3. Infrastructure Management
10.3.1. Digital Assest Management
10.3.2. Equipment O&M
10.3.3. Generation Management
11. Artificial Intelligence Market In Energy & Utilities – Applications (Market Size -$Million / $Billion)
11.1. Introduction
11.2. Energy Generation
11.3. Energy Transmission
11.4. Energy Distribution
11.5. Utilities
11.5.1. Load Forecasting
11.5.2. Yield Optimizing
11.5.3. Predictive Maintenance
11.5.4. Demand Management
11.5.5. Live Metering
12. Artificial Intelligence Market In Energy & Utilities - By Geography (Market Size -$Million / $Billion)
12.1. Artificial Intelligence Market In Energy & Utilities - North America Segment Research
12.2. North America Market Research (Million / $Billion)
12.2.1. Segment type Size and Market Size Analysis 
12.2.2. Revenue and Trends
12.2.3. Application Revenue and Trends by type of Application
12.2.4. Company Revenue and Product Analysis
12.2.5. North America Product type and Application Market Size
12.2.5.1. U.S.
12.2.5.2. Canada 
12.2.5.3. Mexico 
12.2.5.4. Rest of North America
12.3. Artificial Intelligence Market In Energy & Utilities - South America Segment Research
12.4. South America Market Research (Market Size -$Million / $Billion)
12.4.1. Segment type Size and Market Size Analysis 
12.4.2. Revenue and Trends
12.4.3. Application Revenue and Trends by type of Application
12.4.4. Company Revenue and Product Analysis
12.4.5. South America Product type and Application Market Size
12.4.5.1. Brazil  
12.4.5.2. Venezuela
12.4.5.3. Argentina
12.4.5.4. Ecuador
12.4.5.5. Peru
12.4.5.6. Colombia 
12.4.5.7. Costa Rica
12.4.5.8. Rest of South America
12.5. Artificial Intelligence Market In Energy & Utilities - Europe Segment Research
12.6. Europe Market Research (Market Size -$Million / $Billion)
12.6.1. Segment type Size and Market Size Analysis 
12.6.2. Revenue and Trends
12.6.3. Application Revenue and Trends by type of Application
12.6.4. Company Revenue and Product Analysis
12.6.5. Europe Segment Product type and Application Market Size
12.6.5.1. U.K  
12.6.5.2. Germany 
12.6.5.3. Italy 
12.6.5.4. France
12.6.5.5. Netherlands
12.6.5.6. Belgium
12.6.5.7. Spain
12.6.5.8. Denmark
12.6.5.9. Rest of Europe
12.7. Artificial Intelligence Market In Energy & Utilities – APAC Segment Research
12.8. APAC Market Research (Market Size -$Million / $Billion)
12.8.1. Segment type Size and Market Size Analysis 
12.8.2. Revenue and Trends
12.8.3. Application Revenue and Trends by type of Application
12.8.4. Company Revenue and Product Analysis
12.8.5. APAC Segment – Product type and Application Market Size
12.8.5.1. China 
12.8.5.2. Australia
12.8.5.3. Japan 
12.8.5.4. South Korea
12.8.5.5. India
12.8.5.6. Taiwan
12.8.5.7. Malaysia
13. Artificial Intelligence Market In Energy & Utilities - Entropy
13.1. New product launches
13.2. M&A's, collaborations, JVs and partnerships
14. Artificial Intelligence Market In Energy & Utilities – Industry / Segment Competition landscape Premium
14.1. Market Share Analysis
14.1.1. Market Share by Country- Top companies
14.1.2. Market Share by Region- Top 10 companies
14.1.3. Market Share by type of Application – Top 10 companies
14.1.4. Market Share by type of Product / Product category- Top 10 companies
14.1.5. Market Share at global level- Top 10 companies
14.1.6. Best Practises for companies
15. Artificial Intelligence Market In Energy & Utilities – Key Company List by Country Premium
16. Artificial Intelligence Market In Energy & Utilities Company Analysis
16.1. Market Share, Company Revenue, Products, M&A, Developments
16.2. Alpiq (Switzerland)
16.3. SmartCloud Inc. (U.S.)
16.4. General electric (U.S.)
16.5. Siemens AG (Germany)
16.6. Hazama Ando Corporation (Japan)
16.7. ATOS SE (France)
16.8. AppOrchid Inc. (U.S)
16.9. Zen Robotics Ltd. (Helsinki)
16.10. Company 9
16.11. Company 10
16.12. Company 11 and more
"*Financials would be provided on a best efforts basis for private companies"
17. Artificial Intelligence Market In Energy & Utilities - Appendix
17.1. Abbreviations
17.2. Sources
18. Artificial Intelligence Market In Energy & Utilities - Methodology
18.1. Research Methodology
18.1.1. Company Expert Interviews
18.1.2. Industry Databases
18.1.3. Associations
18.1.4. Company News
18.1.5. Company Annual Reports
18.1.6. Application Trends
18.1.7. New Products and Product database
18.1.8. Company Transcripts
18.1.9. R&D Trends
18.1.10. Key Opinion Leaders Interviews
18.1.11. Supply and Demand Trends
List of Tables:

Table 1: Artificial Intelligence Market in Energy & Utilities Overview 2019-2024
Table 2: Artificial Intelligence Market in Energy & Utilities Leader Analysis 2018-2019 (US$)
Table 3: Artificial Intelligence Market in Energy & UtilitiesProduct Analysis 2018-2019 (US$)
Table 4: Artificial Intelligence Market in Energy & UtilitiesEnd User Analysis 2018-2019 (US$)
Table 5: Artificial Intelligence Market in Energy & UtilitiesPatent Analysis 2013-2018* (US$)
Table 6: Artificial Intelligence Market in Energy & UtilitiesFinancial Analysis 2018-2019 (US$)
Table 7: Artificial Intelligence Market in Energy & Utilities Driver Analysis 2018-2019 (US$)
Table 8: Artificial Intelligence Market in Energy & UtilitiesChallenges Analysis 2018-2019 (US$)
Table 9: Artificial Intelligence Market in Energy & UtilitiesConstraint Analysis 2018-2019 (US$)
Table 10: Artificial Intelligence Market in Energy & Utilities Supplier Bargaining Power Analysis 2018-2019 (US$)
Table 11: Artificial Intelligence Market in Energy & Utilities Buyer Bargaining Power Analysis 2018-2019 (US$)
Table 12: Artificial Intelligence Market in Energy & Utilities Threat of Substitutes Analysis 2018-2019 (US$)
Table 13: Artificial Intelligence Market in Energy & Utilities Threat of New Entrants Analysis 2018-2019 (US$)
Table 14: Artificial Intelligence Market in Energy & Utilities Degree of Competition Analysis 2018-2019 (US$)
Table 15: Artificial Intelligence Market in Energy & UtilitiesValue Chain Analysis 2018-2019 (US$)
Table 16: Artificial Intelligence Market in Energy & UtilitiesPricing Analysis 2019-2024 (US$)
Table 17: Artificial Intelligence Market in Energy & UtilitiesOpportunities Analysis 2019-2024 (US$)
Table 18: Artificial Intelligence Market in Energy & UtilitiesProduct Life Cycle Analysis 2019-2024 (US$)
Table 19: Artificial Intelligence Market in Energy & UtilitiesSupplier Analysis 2018-2019 (US$)
Table 20: Artificial Intelligence Market in Energy & UtilitiesDistributor Analysis 2018-2019 (US$)
Table 21: Artificial Intelligence Market in Energy & Utilities Trend Analysis 2018-2019 (US$)
Table 22: Artificial Intelligence Market in Energy & Utilities Size 2018 (US$)
Table 23: Artificial Intelligence Market in Energy & Utilities Forecast Analysis 2019-2024 (US$)
Table 24: Artificial Intelligence Market in Energy & Utilities Sales Forecast Analysis 2019-2024 (Units)
Table 25: Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Type, 2019-2024 ($)
Table 26: Artificial Intelligence Market in Energy & UtilitiesBy Type, Revenue & Volume,By Services, 2019-2024 ($)
Table 27: Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Application, 2019-2024 ($)
Table 28: Artificial Intelligence Market in Energy & UtilitiesBy Application, Revenue & Volume,By Renewables management, 2019-2024 ($)
Table 29: Artificial Intelligence Market in Energy & UtilitiesBy Application, Revenue & Volume,By Infrastructure management, 2019-2024 ($)
Table 30: Artificial Intelligence Market in Energy & UtilitiesBy Application, Revenue & Volume,By Demand management, 2019-2024 ($)
Table 31: Artificial Intelligence Market in Energy & UtilitiesBy Application, Revenue & Volume,By Cybersecurity of systems, 2019-2024 ($)
Table 32: Artificial Intelligence Market in Energy & UtilitiesBy Application, Revenue & Volume,By Process control, 2019-2024 ($)
Table 33: North America Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Type, 2019-2024 ($)
Table 34: North America Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Application, 2019-2024 ($)
Table 35: South america Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Type, 2019-2024 ($)
Table 36: South america Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Application, 2019-2024 ($)
Table 37: Europe Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Type, 2019-2024 ($)
Table 38: Europe Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Application, 2019-2024 ($)
Table 39: APAC Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Type, 2019-2024 ($)
Table 40: APAC Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Application, 2019-2024 ($)
Table 41: Middle East & Africa Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Type, 2019-2024 ($)
Table 42: Middle East & Africa Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Application, 2019-2024 ($)
Table 43: Russia Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Type, 2019-2024 ($)
Table 44: Russia Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Application, 2019-2024 ($)
Table 45: Israel Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Type, 2019-2024 ($)
Table 46: Israel Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,By Application, 2019-2024 ($)
Table 47: Top Companies 2018 (US$) Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,,
Table 48: Product Launch 2018-2019 Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,,
Table 49: Mergers & Acquistions 2018-2019 Artificial Intelligence Market in Energy & Utilities, Revenue & Volume,,


List of Figures:

Figure 1: Overview of Artificial Intelligence Market in Energy & Utilities 2019-2024
Figure 2: Market Share Analysis for Artificial Intelligence Market in Energy & Utilities 2018 (US$)
Figure 3: Product Comparison in Artificial Intelligence Market in Energy & Utilities 2018-2019 (US$)
Figure 4: End User Profile for Artificial Intelligence Market in Energy & Utilities 2018-2019 (US$)
Figure 5: Patent Application and Grant in Artificial Intelligence Market in Energy & Utilities 2013-2018* (US$)
Figure 6: Top 5 Companies Financial Analysis in Artificial Intelligence Market in Energy & Utilities 2018-2019 (US$)
Figure 7: Market Entry Strategy in Artificial Intelligence Market in Energy & Utilities 2018-2019
Figure 8: Ecosystem Analysis in Artificial Intelligence Market in Energy & Utilities2018
Figure 9: Average Selling Price in Artificial Intelligence Market in Energy & Utilities 2019-2024
Figure 10: Top Opportunites in Artificial Intelligence Market in Energy & Utilities 2018-2019
Figure 11: Market Life Cycle Analysis in Artificial Intelligence Market in Energy & Utilities
Figure 12: GlobalBy TypeArtificial Intelligence Market in Energy & Utilities Revenue, 2019-2024 ($)
Figure 13: GlobalBy ApplicationArtificial Intelligence Market in Energy & Utilities Revenue, 2019-2024 ($)
Figure 14: Global Artificial Intelligence Market in Energy & Utilities - By Geography
Figure 15: Global Artificial Intelligence Market in Energy & Utilities Value & Volume, By Geography, 2019-2024 ($) 
Figure 16: Global Artificial Intelligence Market in Energy & Utilities CAGR, By Geography, 2019-2024 (%)
Figure 17: North America Artificial Intelligence Market in Energy & Utilities Value & Volume, 2019-2024 ($)
Figure 18: US Artificial Intelligence Market in Energy & Utilities Value & Volume, 2019-2024 ($)
Figure 19: US GDP and Population, 2018-2019 ($)
Figure 20: US GDP