Dublin, Jan. 06, 2026 (GLOBE NEWSWIRE) — The “Artificial Intelligence (AI) in Energy and Power Global Market Opportunities and Strategies to 2034” has been added to ResearchAndMarkets.com’s offering.
The global artificial intelligence (AI) in energy and power market is projected for significant growth through both the historic period of 2019-2024 and the forecasted periods up to 2034. The market valued nearly $5.23 billion in 2024, has seen an impressive compound annual growth rate (CAGR) of 24.11% since 2019. Future projections indicate the market will expand from $5.23 billion in 2024 to $14.9 billion in 2029, maintaining a growth rate of 23.26%, and continue to $40.68 billion by 2034 at a CAGR of 22.24%.
This progression is primarily driven by increased investments in digital transformation and a growing focus on energy efficiency and optimization. Moreover, the proliferation of smart grids and smart meters, along with a shift towards renewable energy sources, is expected to fuel market growth. However, challenges such as high implementation costs and interoperability issues may pose obstacles, alongside the impacts of global trade tensions.
Regionally, Asia Pacific dominated the market in 2024, contributing 35.94% of the total, equating to $1.88 billion. The region is predicted to remain a growth leader, with anticipated CAGRs of 26.20%, followed by robust growth prospects in the Middle East. These dynamic regional markets surpass Africa and South America, which are expected to grow at CAGRs of 23.45% and 22.85%, respectively.
The market’s competitive landscape is fragmented, with NVIDIA Corporation leading the ten key players, holding just 1.95% of the market share in 2024. Siemens Energy and Schneider Electric SE, amongst others, contribute to this diverse competitive array.
Technology-wise, machine learning represents the largest segment, accounting for 44.89% or $2.35 billion of the market in 2024. Observations suggest a robust increase in the other technologies segment. Application-wise, demand forecasting stands out at 25.29% of the total market, as it is anticipated to progress with the highest CAGR of 25.79% through 2029.
Within end-user segmentation, the commercial and industrial market dominates at 73.67% or $3.85 billion in 2024, showcasing the fastest growth trajectory at 24.01% CAGR. Notably, significant opportunities lie in machine learning and demand forecasting segments, poised to elevate annual sales significantly by 2029.
Market strategies highlight the integration of AI into smart grid systems for enhanced operations, optimizing renewable energy management, and deploying AI-powered predictive maintenance for asset longevity. Companies are advised to focus on expanding real-time AI applications, advancing predictive maintenance, enhancing customer engagement through AI, and exploring the dynamic growth of other technologies.
Overall, enhancing operational capabilities through strategic partnerships and expanding presence in emerging markets remain key strategies for players in the AI in energy and power market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 387 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $5.23 Billion |
| Forecasted Market Value (USD) by 2034 | $40.68 Billion |
| Compound Annual Growth Rate | 22.8% |
| Regions Covered | Global |
Report Chapters:
- Introduction and Market Characteristics: Overview of segmentations by technology, application, and end-user.
- Key Trends: Detailed analysis of major trends affecting the market’s future.
- Growth Analysis and Strategic Framework: Evaluation using PESTEL analysis, including historic and forecast market values.
- Global Market Size and Growth: Historic and forecast market values, global growth contributors, and restraining factors.
- Regional and Country Analysis: Historical and forecast market values and comparisons by region and country.
- Market Segmentation: Analysis by technology, application, and end-user, with historical and forecast values.
- Regional Market Size and Growth: Forecast values, historic comparisons, and market share analysis by region.
- Competitive Landscape: Insight into market shares and profiles of key industry players.
- Other Major and Innovative Companies: Profiles of innovative companies within the market.
- Competitive Benchmarking and Dashboard: Financial and performance comparisons among major players.
- Key Mergers and Acquisitions: Recent financial details that have influenced the market’s development.
- Recent Developments: Overview of recent market advancements and insights.
- Market Opportunities and Strategies: Analysis of opportunities for growth and strategic direction.
- Conclusions and Recommendations: Strategic advice for providers in the AI energy and power sector, targeting product expansion and market strategies.
- Appendix: NAICS codes, abbreviations, and currency codes used in the report.
Markets Covered:
- Technology: Machine Learning, Natural Language Processing, Computer Vision.
- Application: Demand Forecasting, Energy Production Optimization, Energy Management, Smart Grids.
- End User: Commercial, Industrial, Residential.
Companies Featured
- NVIDIA Corporation
- Siemens Energy
- Schneider Electric SE
- C3.ai Inc
- Microsoft Corporation
- Alphabet Inc. (Google LLC)
- GE Vernova
- International Business Machines Corporation
- ABB Ltd.
- Shell plc
- GCL Energy Technology
- EdgeCortix Inc
- BluWave-ai
- SK Group
- Huawei Technologies Co Ltd
- Infosys Limited
- Solar Analytics
- Mitsubishi Electric Corporation
- Huawei Technologies Co. Ltd
- Ecube Labs Co., Ltd
- AutoGrid India Pvt Ltd
- Star Energy
- Barito Renewables
- SparkCognition India Pvt Ltd
- Bidgely
- Hitachi Energy
- Siemens AG
- Schneider Electric SE
- GreenPowerMonitor
- AutoGrid Systems Inc.
- Danfoss A/S
- Powerverse
- ABB Ltd
- ATOS SE
- Ogre AI
- Enea Operator Sp.z.o.o.
- Electrica Group
- SparkCognition
- Snowflake Inc.
- Databricks, Inc.
- Honeywell International, Inc.
- Enverus
- Fluence
- General Electric Company
- Google Energy LLC
- International Business Machines Corporation
- Baker Hughes Company
- BrainBox AI
- BluWave-ai
- Kontrol Technologies
- Mitsubishi Corporation do Brasil SA
- Bosch.IO
- Toshiba Corporation
- ThirdAI
- Group 42 Holding Ltd
- Digital Energy Technologies Ltd
- AIQ
- Omdena
- Sustainable Metal Cloud (SMC)
- DataProphet
For more information about this report visit https://www.researchandmarkets.com/r/czdniv
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- Artificial Intelligence (AI) in Energy and Power Market
