Dublin, May 29, 2025 (GLOBE NEWSWIRE) — The “AI in Energy Market Opportunities and Strategies to 2034” has been added to ResearchAndMarkets.com’s offering.
The AI in the energy market is experiencing significant growth, shaping the future of energy ecosystems across the globe. Key findings indicate a robust trajectory, with the market expanding from $19.03 billion in 2024 to an impressive $50.9 billion by 2029, reflecting a compound annual growth rate (CAGR) of 21.75%. Looking further, the market is projected to reach $129.63 billion by 2034, growing at a CAGR of 20.56%.
Several factors contributed to this growth in the past, such as the rise in electricity generation and deployment of solar energy systems. Moving forward, urbanization, increasing cloud-based services, and substantial investments in the energy sector are expected to propel the market.
Market Dynamics and Competitive Landscape
The global AI in energy market remains fragmented, with small players holding a considerable share. In 2023, the top ten competitors accounted for 22.91% of the total market. Major players include Microsoft Corporation, Amazon.com Inc., and NVIDIA Corporation, with Microsoft leading at a 5% market share.
North America was identified as the largest market regionally, contributing $7.8 billion, or 40.99% of the total in 2024. However, Asia Pacific and South America are predicted to be the fastest-growing regions, with respective growth rates of 24.06% and 23.31% during 2024-2029.
Segmentation Insights
The AI in energy market is categorized by offering into software, hardware, support services, and AI-as-a-service. Software currently leads, yet AI-as-a-service is expected to grow fastest at a CAGR of 25.97%. In terms of deployment, the cloud segment dominates and is projected to maintain its leadership, expanding at a CAGR of 22.91% from 2024-2029.
Among applications, demand response management leads while renewable energy management is the fastest-growing segment. The utilities segment leads end users, but energy transmission is catching up, projected to grow at a CAGR of 26.33%.
Opportunities abound for companies that invest in sectors like AI-as-a-service and cloud deployment, which are expected to see significant revenue increases by 2029.
Strategic Recommendations and Market Opportunities
Analysts recommend targeting emerging markets and strategic partnerships to leverage growth opportunities. Emphasizing AI-driven solutions can optimize residential energy efficiency and enhance solar energy management. Companies are urged to innovate with AI technology, focusing on smart solutions for data centers and residential applications.
Major Market Trends
- Enhancing Residential Energy with Advanced AI Technologies
- Strategic Partnerships for Robust Energy Solutions
- Innovative AI Software for Energy Monitoring
- Comprehensive Energy Ecosystems for Residential Applications
- AI Strategies to Improve Data Center Efficiency and Minimize Emissions
- AI-Powered Energy Management and Generative AI Assistants
- Innovations in AI Home Assessment Tools
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 390 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $19.03 Billion |
| Forecasted Market Value (USD) by 2034 | $129.63 Billion |
| Compound Annual Growth Rate | 21.2% |
| Regions Covered | Global |
Companies Featured
- Microsoft Corporation
- Amazon.com Inc.
- NVIDIA Corporation
- Oracle Corporation
- Alphabet Inc. (Google LLC)
- Schneider Electric SE
- Siemens AG
- ABB Ltd.
- Atos SE
- Alpiq Holding Ltd.
- China Mobile
- ZTE
- YunDing Tech Co. Ltd.
- Shandong Energy Group Co. Ltd.
- GCL Energy Technology
- EdgeCortix Inc.
- BluWave-ai
- Tokyo Electric Power Company (TEPCO)
- Kansai Electric Power
- Kyushu Electric Power
- SK Group
- POSCO International
- GS E&R
- LG Electronics
- Huawei Technologies Co Ltd.
- R&B Technology Co., Ltd.
- Infosys Limited
- Tata Power Company Limited
- Solar Analytics
- AutoGrid India Pvt Ltd
- SparkCognition India Pvt Ltd.
- Bidgely
- BP
- Engie SA
- Iberdrola
- GreenPowerMonitor
- AutoGrid Systems Inc.
- Danfoss A/S
- EVBox B.V.
- LM Ericsson
- Energi
- E.ON
- Powerverse
- Enel Green Power S.p.A.
- Electrica Furnizare S.A.
- Affexy Sp. z o.o.
- ON Semiconductor Corporation
- Ogre AI
- Enea Operator Sp.z.o.o.
- Electrica Group
- Ensemble Energy
- Spark Cognition
- Snowflake Inc.
- Sustainable Energy for All
- Databricks, Inc.
- Honeywell International, Inc.
- BidOut, Inc.
- Enverus, Inc.
- AES Corporation
- Fluence
- General Electric Company
- International Business Machines Corporation
- ExxonMobil
- Baker Hughes Company
- Suncor Energy
- Ontario Power Generation Inc.
- Enbridge Inc.
- Xcel Energy
- BrainBox AI
- Kontrol Technologies
- Ecopetrol SA
- Abastible S.A.
- Origem Energia
- Petroleo Brasileiro S.A.
- CPFL Energia
- Shell Brasil
- Hub71
- ThirdAI
- Watad Energy & Communications
- Abu Dhabi National Oil Company
- Group 42 Holding Ltd.
- Digital Energy Technologies Ltd.
- Saudi Aramco
- AIQ
- Inq. Group
- M-KOPA
- Omdena
- Oya Energy
- Sustainable Metal Cloud (SMC)
- Sasol Limited
- DataProphet
- Eskom Hld SOC Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/a93uzz
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
