Generative AI In Energy Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities

The Generative AI In Energy Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Generative AI In Energy Market?
In recent times, the market size for generative AI in the energy sector has seen significant growth. It is projected to increase from $0.95 billion in 2024 to $1.21 billion in 2025, with a compound annual growth rate (CAGR) of 26.7%. The enhancement during this historical period can be credited to the surge in renewable energy sources, augmentation in energy storage systems, optimized demand response, enhanced demand forecasting, and increased emphasis on risk management and resilience.

The market size of generative AI in the energy sector is predicted to surge significantly in the upcoming years, reaching $3.07 billion by 2029 with a compound annual growth rate (CAGR) of 26.3%. Factors contributing to the growth during the forecasted period include enhanced precision, a rising demand for more efficient electricity distribution, an increased emphasis on customer interaction, the growing use of wind and solar energy, and improved asset management. Major trends during this period are anticipated to be revenue forecasting in real time, dynamic adjustment and optimization, superior predictive analysis, advanced data source integration, predictive maintenance and asset management, and intelligent grid supervision.

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What Are the Different Generative AI In Energy Market Segments?
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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What Are the Primary Drivers Shaping the Generative AI In Energy Market?
Growth in the generative AI energy market is anticipated to be fueled by the rising production of solar electricity. The process of solar electricity generation changes sunlight into usable energy through photovoltaic (PV) panels or concentrated solar power (CSP) systems. The upsurge in the use of solar electricity is motivated by the falling prices of solar technology and heightened awareness of its eco-friendly advantages, such as fewer carbon emissions in contrast to fossil fuels. The merger of generative AI technologies with solar electricity generation presents substantial possibilities to augment the effectiveness, dependability, and sustainability of energy systems during the shift to a greener and resilient energy future. For example, in March 2023, U.S. Energy Information Administration (EIA), U.S. Federal Statistical System anticipated that over half of the new power capacity additions in the U.S. for that year would be contributed by solar energy. On a global scale, renewables are predicted to grow their percentage of the power generation mix from 29% in 2022 to 35% by 2025. Despite global power sector's CO2 emissions hitting a pinnacle of around 13.2 gigatons (Gt) in 2022, they are expected to stabilize by 2025. As of January 2023 in the U.S., utility-scale solar power held 73.5 gigawatts (GW), contributing to approximately 6% of the nation's total power capacity, whereas wind power accounted for 141.3 GW, making up close to 12% of the total. Moreover, U.S. developers aim to increase wind capacity by 7.1 GW and augment battery storage by 8.6 GW this year, ultimately doubling the country's battery storage capacity. Consequently, the rise in solar electricity production is propelling the growth of generative AI in the energy market.

Which Companies Are Leading in 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?
Key corporations in the energy market's generative AI sector are concentrating on introducing pioneering products such as real-time asset performance management to streamline energy production, distribution and utilization functions. Real-time asset performance management involves observing, evaluating and improving assets' performance, like machinery, equipment or infrastructure, in real or near real-time. For instance, Databricks Inc., an American global data, analytics and AI firm, launched a data intelligence platform designed for the energy industry in April 2024. This consolidated platform empowers data and individuals in the energy sector with the capabilities of AI. It addresses essential industry difficulties through real-time asset performance management, renewable energy prediction, and grid enhancement, enabling organizations to streamline energy infrastructure and reduce market instability. The Databricks data intelligence platform, built on a lakehouse architectural framework, provides an open, unified basis for all data and governance. It operates on a data intelligence engine that comprehends the distinctiveness of data.

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What Are the Top Revenue-Generating Geographies in 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Generative AI In Energy Market?
2. What is the CAGR expected in the Generative AI In Energy Market?
3. What Are the Key Innovations Transforming the Generative AI In Energy Industry?
4. Which Region Is Leading the Generative AI In Energy Market?

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