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Key Influencer in the Artificial Intelligence (AI) in Energy And Power Market 2025: Surging Investments In Energy Sector Fueling The Growth Of Artificial Intelligence (AI) In Energy And Power Market Driver
Artificial Intelligence AI in Energy And Power Market
The anticipated surge in the energy sector investments is predicted to propel the advancement of artificial intelligence (AI) within the energy and power market. The notion of investments refer to the distribution of resources, ordinarily monetary, in the hopes of accruing a return or profit over a set period of time. Industry players in energy and power have been utilizing investments in order to harness artificial intelligence capabilities. This aims to bolster decision-making processes, streamline operations, improve energy management, and boost the reliability and quality of services being offered by the sector. As per data from the International Energy Agency, a France-based intergovernmental organization, a whopping USD 2.8 trillion is projected to be invested in the energy industry in 2023 with more than USD 1.7 trillion dedicated to the clean energy subsector from 2022. Furthermore, when 2023 predictions are compared with 2021 statistics, yearly investment in renewable energy reveals a significant increase - around 24%. Ergo, the surge in investments in the energy sector represents a key driver in the growth of artificial intelligence (AI) within the energy and power market.
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What is the projected compound annual growth rate (CAGR) of the artificial intelligence (ai) in energy and power market from 2025 to 2034, and what factors influence it?
In recent years, there has been a significant growth in the market size of artificial intelligence (AI) in the energy and power sector. The market, which was worth $5.24 billion in 2024, is projected to escalate to $6.79 billion in 2025, with a compound annual growth rate (CAGR) of 29.7%. Factors such as enhanced data accessibility and quality, governmental regulatory backing, reduction in costs, better connectivity, and a rising demand for renewable energy have contributed to the growth seen during the historic period.
In the coming years, the market size of artificial intelligence (AI) in the energy and power sector is projected to experience significant expansion. The market is predicted to reach $17.03 billion in 2029, growing at a compound annual growth rate (CAGR) of 25.8%. This growth during the forecast period can be linked to factors such as advanced analytics and predictive modeling, the optimization of smart grids, the move towards decentralized energy systems, resilience planning, and a worldwide shift towards energy transition. Key trends during this forecast period include the advancement of technology, collaboration and standard setting, international adoption of AI technology, improvements in cyber security, and predictive maintenance.
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What new trends are reshaping the artificial intelligence (ai) in energy and power market and its opportunities?
Leading corporations in the artificial intelligence (AI) sector for energy and power markets are focused on creating innovative AI breakthroughs, such as Gridmatic retail, to cater to advanced energy requirements of business clientele. AI-powered Gridmatic, designed for commercial and industrial customers with complex energy needs, aims for optimization in clean energy buying and delivers automation and predictability. For example, Gridmatic Retail, a recent innovation by Gridmatic, an AI-powered energy marketer, introduced in January 2023, simplifies the acquisition of green energy and brings automation and predictability to enterprise and industrial clients. It boasts of advanced retail energy solutions including time-matched renewables, round-the-clock carbon-free energy, and load variability contracts. Further, it expedites the shift towards achieving net zero and stabilizing the renewable-powered grid. This is accomplished by leveraging its industry-specific AI to provide the most sophisticated time-matched renewable contracts and bespoke solutions for clients with fluctuating and complex energy requirements.
What are the major segments of the artificial intelligence (ai) in energy and power market and their role in driving growth?
The artificial intelligence (AI) in energy and power market covered in this report is segmented -
1) By Technology: Machine Learning, Natural Language Processing, Computer Vision
2) By Application: Demand Forecasting, Energy Production And Distribution Optimization, Energy Management, Smart Grids, Smart Meter, Other Applications
3) By End-User: Commercial And Industrial, Residential
Subsegments:
1) By Machine Learning: Predictive Maintenance, Demand Forecasting, Energy Management Systems
2) By Natural Language Processing (NLP): Chatbots For Customer Service, Voice Assistants For Energy Management, Document Analysis And Reporting
3) By Computer Vision: Asset Monitoring And Inspection, Safety And Surveillance Systems, Fault Detection In Equipment
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Which regions are key players in the growth of the artificial intelligence (ai) in energy and power market?
North America was the largest region in the artificial intelligence (AI) in energy and power market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in energy and power market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the artificial intelligence (ai) in energy and power market?
Major companies operating in the artificial intelligence (AI) in energy and power market report are Google LLC, Microsoft Corporation, Mitsubishi Electric Corporation, Bosch.IO, Siemens AG, General Electric Company, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Group, NVIDIA Corporation, Toshiba Corporation, Emerson Electric Co, Rockwell Automation Inc., SAS Institute Inc., DNV GL, Sierra Wireless Inc., C3.ai Inc., Vayyar Imaging Ltd., Uptake Technologies Inc., Verdigris Technologies Inc., ClearPath Robotics, Aurora Solar Technologies, SenseHawk
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What Is Covered In The Artificial Intelligence (AI) in Energy And Power Global Market Report?
• Market Size Forecast: Examine the artificial intelligence (ai) in energy and power market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the artificial intelligence (ai) in energy and power market for a structured understanding.
• Key Players Overview: Analyze major players in the artificial intelligence (ai) in energy and power market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the artificial intelligence (ai) in energy and power market.
• Segment Contributions: Evaluate how different segments drive overall growth in the artificial intelligence (ai) in energy and power market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the artificial intelligence (ai) in energy and power market.
• Industry Challenges: Identify potential risks and obstacles affecting the artificial intelligence (ai) in energy and power market.
• Competitive Landscape: Review strategic developments in the artificial intelligence (ai) in energy and power market, including expansions, agreements, and new product launches.
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