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In-Depth Analysis Of The Global AI In Energy Market: Key Drivers, Trends, Growth Opportunities, And Forecast 2025-2034
AI In Energy Market Size
The global AI in energy market reached a value of nearly $19.031 billion in 2024, having grown at a compound annual growth rate (CAGR) of 16.08% since 2019. The market is expected to grow from $19.031 billion in 2024 to $50.906 billion in 2029 at a rate of 21.75%. The market is then expected to grow at a CAGR of 20.56% from 2029 and reach $129.630 billion in 2034.
What strategies are being adopted by key players in the Artificial intelligence (AI) in energy market?
The key players in the market are adopting extensive strategies in the Artificial intelligence (AI) in energy market such as:
• Prioritizes strategic partnerships to strengthen business expertise.
• Emphasizes improving business operations through new product developments.
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To take advantage of opportunities, The Business Research Company suggests that Artificial intelligence (AI) in energy companies enhance offerings:
• Optimize renewable energy use in residential applications.
• Enhance energy management systems for residential solar solutions.
• Develop new AI-based software solutions for energy efficiency.
• Establish strategic partnerships to drive innovation.
• Improve residential energy ecosystems with advanced connectivity solutions.
• Utilize AI-driven solutions to optimize energy efficiency and reduce emissions in data centers.
• Innovate AI-powered energy management systems.
• Develop generative AI assistants for energy optimization.
• Create AI-powered home assessment tools for smarter energy use.
What Is Artificial intelligence (AI) in energy: Market Overview?
Artificial intelligence (AI) in energy refers to the application of advanced computational systems and machine learning technologies to optimize, automate and innovate various processes across the energy industry. The purpose of AI in the energy sector is to enhance efficiency, optimize resource utilization, and drive sustainable practices by leveraging advanced algorithms and machine learning, AI enables real-time monitoring, predictive maintenance, and precise demand forecasting for energy systems.
Complementary technologies and systems, such as the Internet of Things (IoT), big data analytics and edge computing, work in conjunction with AI to enhance its applications. Substitute solutions for AI include traditional energy management methods, manual monitoring systems and predictive models based on historical data rather than real-time analytics.
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Who Are The Major Companies Operating In The Global Artificial intelligence (AI) in energy Market?
The top ten competitors in the market made up to 22.91% of the total market in 2023. Microsoft Corporation was the largest competitor with a 5.00% share of the market, followed by:
• Amazon.com Inc.
• NVIDIA Corporation
• Oracle Corporation
• Alphabet Inc. (Google LLC)
• Schneider Electric SE
• Siemens AG
• ABB Ltd.
• Atos SE
• Alpiq Holding Ltd.
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. We have published over 15,000 reports across 27 industries and 60+ geographies. Our research is powered by 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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