The Business Research Company’s report on the AI in Energy Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the ai in energy market’s growth in recent years?
The increasing use of microgrids is expected to propel the growth of AI in the energy market going forward. A microgrid is a localized energy system operating independently or in conjunction with the primary power grid. Microgrids play a significant role in integrating and optimizing AI technology within the energy sector, enabling intelligent energy management, grid optimization, and the integration of renewable energy sources. These help in AI energy applications like demand response, load balancing, and the integration of renewable energy. AI in the energy market is seeing significant growth as there is an increase in the use of microgrids. For instance, in September 2024, according to the Energy Trends published by the Department for Energy Security and Net Zero, a UK-based ministerial department, the installed capacity rose by 3.9 percent (2.1 GW) in the second quarter of 2024 compared to the same quarter in 2023, resulting in a total of 57.5 GW. Therefore, the increasing use of microgrids is expected to drive the growth of AI in the energy market.
Access Your Free Sample of the Global AI in Energy Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=11920&type=smp
How does the future projection of the ai in energy market size compare to its historical growth?
The AI in energy market size has grown exponentially in recent years. It will grow from $19.03 billion in 2024 to $22.94 billion in 2025 at a compound annual growth rate (CAGR) of 20.6%. The growth in the historic period can be attributed to data analytics for efficiency, demand response management, predictive maintenance, grid optimization, renewable energy integration
The AI in energy market size is expected to see exponential growth in the next few years. It will grow to $50.91 billion in 2029 at a compound annual growth rate (CAGR) of 22.0%. The growth in the forecast period can be attributed to decentralized energy systems, energy storage management, smart cities and infrastructure, electrification of transportation, integration of edge computing. Major trends in the forecast period include energy efficiency analytics, autonomous energy infrastructure, cybersecurity solutions, virtual power plants, edge ai for energy management.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=11920&type=smp
Which key players are shaping the future of the ai in energy market?
Major companies operating in the AI in energy market include Google, Microsoft Corporation, Engie SA, Huawei Technologies Co Ltd., Siemens AG, General Electric Company, Intel Corporation, International Business Machines Corporation, Iberdrola, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., Flex Ltd., ABB Ltd, Duke Energy Corporation, Nvidia Corporation, Alpiq Holding AG, ATOS SE, Enel Green Power S.p.A., Databricks Inc., C3 AI, Uptake Technologies, Sentient Energy Inc., AutoGrid Systems Inc., Arundo Analytics Inc., Bidgely Inc., Verdigris Technologies, Greenbird Integration Technology AS, AppOrchid Inc., Ecube Labs Co. Ltd
What trends will propel the growth and evolution of the ai in energy market?
Technological advancements are a key trend gaining popularity in AI in the energy market. Major companies operating in AI in the energy market are adopting new technologies to sustain their position in the market. For instance, in February 2022, Telefonaktiebolaget LM Ericsson, a Sweden-based IT services and IT consulting company, launched an AI-powered Energy Infrastructure Operations, which is an energy management system that helps communications service providers reduce their energy use across their network infrastructure by utilizing artificial intelligence and cutting-edge data analytics. Using AI power, energy infrastructure operations can decrease energy related OPEX by 15%, site visits related to passive infrastructure by 15%, and 30% of outages due to energy. Reducing OPEX and CO2 emissions for communications service providers by utilizing AI and data analytics to maximize energy efficiency and site availability.
Which regions are expected to become dominant players in the ai in energy market?
North America was the largest region in AI in the energy market in 2024. Asia-pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AI in energy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Order Your Report Now For Swift Delivery
https://www.thebusinessresearchcompany.com/report/ai-in-energy-global-market-report
What are the emerging key segments in the ai in energy market, and how are they evolving?
The AI in energy market covered in this report is segmented –
1) By Offering: Support Services, Hardware, AI-As-A-Service, Software
2) By Deployment: On-Premise, Cloud
3) By Application: Demand Response Management, Fleet And Asset Management, Renewable Energy Management, Precision Drilling, Demand Forecasting, Infrastructure Management, Other Applications
4) By End User: Energy Transmission, Energy Generation, Energy Distribution, Utilities, Other End Users
Subsegments:
1) By Support Services: Consulting Services, Implementation Services, Maintenance And Support Services
2) By Hardware: AI-Powered Sensors, Smart Meters, Edge Computing Devices
3) By AI-As-A-Service: Machine Learning Platforms, Data Analytics Services, Model Training And Development Services
4) By Software: Energy Management Software, Predictive Maintenance Software, Demand Response Software, Grid Management Software
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=11920
What defines the structure and scope of the ai in energy market?
AI in energy refers to the application of artificial intelligence (AI) technologies and techniques in the energy sector to improve efficiency, optimize operations, and enhance decision-making. AI in energy includes data analysis, grid management and security, and demand response. AI in energy is used to maximize the recycling of materials used in renewable energy systems, such as solar panels, wind turbines, and hydroelectric dams.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
