The "Artificial Intelligence in Energy Market by Application (Energy Demand Forecasting, Grid Optimization & Management, Energy Storage Optimization), End Use (Generation, Transmission, Distribution, Consumption) - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The artificial intelligence (AI) segment within the energy industry is experiencing a significant transformation, as its market value is predicted to soar from USD 8.91 billion in 2024 to an impressive USD 58.66 billion by 2030. This remarkable growth, boasting a Compound Annual Growth Rate (CAGR) of 36.9%, indicates that AI is revolutionizing the way energy is generated, transmitted, distributed, and consumed.
AI: Refining Energy Efficiency
AI is playing a crucial role in enhancing efficiency, particularly in the context of building management and HVAC system operations. By adapting to real-time changes in occupancy and environmental factors, AI-based learning algorithms are making significant strides in optimizing energy consumption while prioritizing occupant comfort.
Conventional Energy's New Era
The conventional energy segment, encompassing coal, oil, natural gas, and nuclear energy, remains dominant within the AI in energy market sphere. AI's implementation in these sectors is streamlining operations, from optimizing fuel extraction to predictive maintenance, which results in minimized downtimes and reduced operational costs. Notably, AI's predictive capabilities are also enhancing safety and reliability in nuclear power plants, and fostering more sustainable extraction in other energy forms.
A Surge in AI-Powered Services
The AI in energy market is also witnessing rapid growth within the services sector. Here, training, consulting, deployment, integration, support, maintenance, and managed services are crucial, assisting energy firms in leveraging AI for optimal system operations and energy management. These services ensure effective utilization of AI technology, fostering advancements in operational excellence and innovation across the energy value chain.
Geographical Market Insights
Asia Pacific stands out as the region with the highest anticipated growth rate. Recent developments showcase significant movements, like BluWave-ai's expansion in Japan, focusing on AI-driven energy optimization, and the partnership between ZTE Corporation and China Mobile, which is introducing AI into dynamic telecommunications network energy optimization.
Understanding the Competitive Landscape
Analysis of the competitive landscape points to a diverse array of market players and their distinctive strategies. Through partnerships, new product and service ventures, and acquisitions, these entities are positioning themselves advantageously within the AI in energy sector. This advancement continues to enhance the effectiveness, safety, and environmental sustainability of energy production and management.
Looking Forward to a Progressive Energy Market
The forecasted growth underscores a profound shift in the energy market, marked by the application of AI to address critical needs such as energy demand forecasting, grid optimization, energy storage, renewables integration, and market forecasting. These innovations are poised to bring about a significantly more streamlined, sustainable, and economically viable energy landscape over the coming years.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 324 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $8.91 Billion |
| Forecasted Market Value (USD) by 2030 | $58.66 Billion |
| Compound Annual Growth Rate | 36.9% |
| Regions Covered | Global |
Companies Featured
- Schneider Electric SE
- GE Vernova
- ABB Ltd.
- Honeywell International, Inc.
- Siemens AG
- Oracle Corporation
- Vestas Wind Systems A/S
- IBM Corporation
- Microsoft Corporation, Inc.
- Amazon Web Services, Inc
- Atos SE
- Tesla, Inc.
- C3.AI, Inc.
- Alpiq
- Enel S.P.A.
- Origami Energy
- Innowatts
- Irasus Technologies
- Grid4C
- Uplight
- Gridbeyond
- Esmart Systems
- Ndustrial
- Datategy
- Omdena
- Bidgely
- Avathon
For more information about this report visit https://www.researchandmarkets.com/r/oylkij
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View source version on businesswire.com: https://www.businesswire.com/news/home/20250414078955/en/
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