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Emerging Trends to Reshape the Artificial Intelligence (AI) in Energy And Power Market: Revolutionizing Renewable Energy Purchases With AI-Driven Gridmatic Retail as a Key Influencer
Artificial Intelligence (AI) in Energy And Power Market
Artificial Intelligence (AI) in Energy And Power Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of artificial intelligence (AI) in the energy and power sector has seen remarkable growth recently. The market, which was valued at $5.24 billion in 2024, is projected to reach $6.79 billion in 2025, increasing at a compound annual growth rate (CAGR) of 29.7%. The significant growth during the historical period is due to factors such as improved data availability and quality, regulatory backing, reduced costs, enhanced connectivity, and a rising demand for renewable energy.
Artificial Intelligence (AI) in Energy And Power Market Size Forecast: What's the Projected Valuation by 2029?
In the upcoming years, there is an anticipated surge in the size of the artificial intelligence (AI) market in the energy and power sector, with estimations predicting a rise to $17.03 billion by 2029. This suggests a compound annual growth rate (CAGR) of 25.8%. Factors contributing to this growth during the forecast period include developments in analytics and predictive modeling, optimization of smart grids, the emergence of decentralized energy systems, proactive planning for resilience, and the global transition towards more sustainable energy. Other significant trends for the period under consideration will include technological advancements, establishment of partnerships and adherence to standards, worldwide adoption of AI technologies, bolstering of cyber security measures, and foreseeing maintenance requirements.
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What Are the Drivers Transforming the Artificial Intelligence (AI) in Energy And Power Market?
The escalating influx of funds in the energy sectors is predicted to stimulate the expansion of artificial intelligence (AI) in the energy and power marketplace. The term investment denotes the distribution of resources, primarily money, with the anticipation of producing a profit over a period. The energy and power industries have been capitalizing on investments to utilize artificial intelligence (AI) for enhancing decision making, streamlining operations, refining energy management, and improving the reliability and quality of services within the sector. For example, in 2023, as per data released by the International Energy Agency, a France-based intergovernmental body, approximately USD 2.8 trillion is predicted to be funneled into energy and beyond USD 1.7 trillion into sustainable energy starting from 2022. Moreover, when comparing projections for 2023 with 2021 statistics, the annual renewable energy investment has seen a significant rise of 24%. Thus, the escalating investments in the energy sectors are fueling the expansion of artificial intelligence (AI) in the energy and power marketplace.
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What Long-Term Trends Will Define the Future of the Artificial Intelligence (AI) in Energy And Power Market?
Leading corporations active in the energy and power sectors' artificial intelligence (AI) market are pioneering novel AI developments, such as gridmatic retail, to address the advanced energy requirements of commercial clientele. AI-powered energy marketer, Gridmatic, caters to the modern energy needs of commercial and industrial sectors by optimizing clean energy purchases and facilitating predictability and automation. In January 2023, Gridmatic introduced Gridmatic Retail which simplifies the buying process for renewable energy while also automating and predicting the needs of business and industrial clients. It offers the newest generation of retail energy products, such as time-matched renewables, 24/7 carbon-free energy, and contracts for load variability. Furthermore, it fast-tracks the shift to net zero and regulates the renewable-powered grid through its business-specific AI. This AI offers highly advanced, time-matched renewable contract options and tailor-made product offerings for customers with fluctuating and intricate energy requirements.
Which Segments in the Artificial Intelligence (AI) in Energy And Power Market Offer the Most Profit Potential?
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 Firms Dominate the Artificial Intelligence (AI) in Energy And Power Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in 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.
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