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Artificial intelligence in energy to reach $58.66bn by 2030

The global artificial intelligence market applied to the energy sector is expected to grow at an annual rate of 36.9% between 2024 and 2030, according to a report published by MarketsandMarkets™ on April 22.

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The artificial intelligence (AI) market applied to energy is projected to grow from $8.91bn in 2024 to $58.66bn in 2030, according to a study published by the research firm MarketsandMarkets™. This rapid growth is driven by the increasing adoption of automated solutions in energy management, distribution, and forecasting.

Grid management emerges as the main application of AI in energy

According to the report, the grid optimisation and management segment is expected to hold the largest market share over the forecast period. AI enables real-time analysis of vast amounts of data to detect inefficiencies, forecast demand, and balance loads to avoid overloads and outages. This automation reduces transmission losses and strengthens infrastructure resilience.

Artificial intelligence also facilitates the integration of renewable energy sources into existing grids. Through dynamic regulation and accurate forecasting, operators can respond quickly to disruptions. The report highlights AI’s role in modernising infrastructure toward smart grid systems.

Electricity distribution sees fastest growth

The distribution segment is projected to experience the fastest growth through 2030. AI is used to optimise electricity delivery, reduce losses, and improve network reliability. Real-time monitoring technologies detect faults, anticipate equipment failures, and adjust voltage levels.

Algorithms also enhance the management of solar and wind variability, ensuring continuous power delivery even during high-demand periods. Automating maintenance operations lowers operational costs and reduces downtime.

Asia-Pacific leads regional expansion

The Asia-Pacific region is expected to post the highest growth rate, supported by major technological initiatives. In China, State Power Rixin Technology, together with Huawei and China Huadian Corporation, launched an AI-based energy meteorological forecasting solution. This technology improves forecast accuracy while reducing operational costs.

The Suola wind farm in Hebei province uses AI to manage and control solar and wind stations with minimal labour. In South Korea, the Korea Institute of Energy Research (KIER) completed a study on urban electrification integrating AI. In Australia, the Commonwealth Scientific and Industrial Research Organisation (CSIRO) launched RapidRate, a tool that assesses household energy efficiency using machine learning.

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