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In-Depth Analysis of the Generative AI In Energy Market: Growth Opportunities, Key Trends, and Forecast 2025-2034
Generative AI In Energy Market
The generative AI in energy market will grow from $0.95 billion in 2024 to $1.21 billion in 2025, reflecting a CAGR of 26.7%. The rise of renewable energy sources, demand forecasting, increasing energy storage systems, demand response optimization, and enhanced risk management and resilience are contributing to this growth.
The generative AI in energy market is expected to grow to $3.07 billion by 2029, with a CAGR of 26.3%. Growth is driven by improved electricity distribution, customer engagement, and the adoption of solar and wind energy. Major trends include real-time forecasting, predictive analytics, smart grid management, and asset management.
What Is Driving the Growth Trajectory of the Generative AI In Energy Market?
The increasing solar electricity generation is expected to drive the growth of the generative AI in the energy market. As solar energy adoption rises due to declining technology costs and environmental benefits, the integration with AI enhances energy system efficiency, sustainability, and reliability. Generative AI helps optimize energy production, storage, and distribution, contributing to a cleaner energy future. For example, in March 2023, the U.S. Energy Information Administration projected that solar would account for over half of new power capacity additions in the U.S. in 2023.
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Which Leading Companies Are Shaping the Growth of the Generative AI In Energy Market?
Major companies operating in the generative AI in energy market report are Google LLC; Microsoft Corporation; Engie SA; Enel Green Power S.p.A.; Huawei Technologies Co. Ltd; Amazon Web Services Inc; Siemens AG; General Electric Company; Intel Corporation; International Business Machines Corporation; Deloitte Touche Tohmatsu Limited; Cisco Systems Inc; Schneider Electric SE; Honeywell International Inc.; Flex Ltd; ABB Ltd; Duke Energy Corporation; Nvidia Corporation; Atos SE; Zen Robotics Ltd; Freshworks Inc.; C3 AI Inc; Databricks Inc; AppOrchid Inc; Verdigris Technologies; Ecube Labs Co. Ltd; Bidgely Inc
What Are the Major Trends Shaping the Generative AI In Energy Market?
In the generative AI energy sector, major companies are innovating with products like real-time asset performance management, which optimizes energy production, distribution, and consumption. Real-time asset performance management involves monitoring and optimizing the performance of assets such as machinery and infrastructure in real-time. In April 2024, Databricks Inc., a global data and AI company based in the US, launched its data intelligence platform for the energy sector. This platform addresses industry challenges like asset performance, renewable energy forecasting, and grid optimization, helping organizations enhance energy infrastructure and reduce market fluctuations.
What Are the Key Segments of the Generative AI In Energy Market?
The generative AI in energy market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Application: Demand Forecasting, Renewable Energy Output Forecasting, Grid Management And Optimization, Energy Trading And Pricing, Customer Offerings, Energy Storage Optimization, Other Applications
3) By End User: Energy Transmission, Energy Generation, Energy Distribution, Utilities, Other End Users
Subsegments:
1) By Solutions: Energy Demand Forecasting, Predictive Maintenance Solutions, AI-Driven Energy Optimization Tools, Renewable Energy Management Solutions
2) By Services: Consulting Services, Implementation And Integration Services, Support And Maintenance Services, Training Services
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Which Region Dominates the Generative AI In Energy Market?
North America was the largest region in the generative AI in energy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative AI in energy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Generative AI In Energy Global Market Report?
- Market Size Analysis: Analyze the Generative AI In Energy Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Generative AI In Energy Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Generative AI In Energy Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Generative AI In Energy Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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