Dublin, June 18, 2025 (GLOBE NEWSWIRE) — The “Generative AI in Energy Market Opportunities and Strategies to 2034” report has been added to ResearchAndMarkets.com’s offering.
This report describes and explains the generative AI in energy market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global generative AI in energy market reached a value of nearly $952.25 million in 2024, having grown at a compound annual growth rate (CAGR) of 24.91% since 2019. The market is expected to grow from $952.25 million in 2024 to $2.82 billion in 2029 at a rate of 24.32%. The market is then expected to grow at a CAGR of 23.61% from 2029 and reach $8.16 billion in 2034.
North America was the largest region in the generative AI in energy market, accounting for 37.17% or $353.92 million of the total in 2024. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the generative AI in energy market will be Asia-Pacific and Middle East where growth will be at CAGRs of 28.98% and 27.08% respectively. These will be followed by Africa and South America where the markets are expected to grow at CAGRs of 26.07% and 25.44% respectively.
The global generative AI in energy market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 22.63% of the total market in 2023.Microsoft Corporation was the largest competitor with a 3.90% share of the market, followed by Amazon.com Inc. with 3.57%, Oracle Corp. with 3.50%, Schneider Electric SE. with 2.82%, Alphabet Inc. (Google LLC). with 2.61%, Siemens AG. with 1.83%, NVIDIA Corporation. with 1.53%, ABB Ltd. with 1.15%, Atos SE. with 0.92% and Alpiq Holding Ltd. with 0.79%.
The generative AI in energy market is segmented by component into solutions and services. The services market was the largest segment of the generative AI in energy market segmented by component, accounting for 70.66% or $672.87 million of the total in 2024. Going forward, the services segment is expected to be the fastest growing segment in the generative AI in energy market segmented by component, at a CAGR of 25.06% during 2024-2029.
The generative AI in energy market is segmented by application into demand forecasting, renewable energy output forecasting, grid management and optimization, energy trading and pricing, customer offerings, energy storage optimization and other applications. The demand forecasting market was the largest segment of the generative AI in energy market segmented by application, accounting for 26.93% or $256.42 million of the total in 2024. Going forward, the energy storage optimization segment is expected to be the fastest growing segment in the generative AI in energy market segmented by application, at a CAGR of 30.68% during 2024-2029.
The generative AI in energy market is segmented by end-user into energy transmission, energy generation, energy distribution, utilities and other end users. The energy generation market was the largest segment of the end-user market segmented by end-user, accounting for 29.57% or $281.62 million of the total in 2024. Going forward, the energy generation segment is expected to be the fastest growing segment in the generative AI in energy market segmented by end-user, at a CAGR of 28.32% during 2024-2029.
The top opportunities in the generative AI in energy market segmented by component will arise in the services segment, which will gain $1.38 billion of global annual sales by 2029. The top opportunities in the generative AI in energy market segmented by application will arise in the demand forecasting segment, which will gain $423.94 million of global annual sales by 2029. The top opportunities in the generative AI in energy market segmented by end-user will arise in the energy generation segment, which will gain $698.13 million of global annual sales by 2029. The generative AI in energy market size will gain the most in the USA at $511.09 million.
Market-trend-based strategies for the generative AI in energy market include developing technologically advanced products, such as generative ai copilots, development of innovative solutions to enhance automation and developing strategic partnerships to enable businesses to leverage complementary strengths. Player-adopted strategies in the generative AI in energy market include focus on strengthening its operational capabilities through technology launches, products and solutions and strategic partnerships.
To take advantage of the opportunities, the analyst recommends the generative AI in energy to focus on integrating generative AI copilots to enhance operational efficiency and decision-making, focus on adopting centralized platforms to streamline air charter operations, focus on the services segment to maximize growth in generative AI for energy, expand in emerging markets, focus on forming strategic partnerships to accelerate generative AI deployment in energy, focus on value-based pricing to maximize revenue and adoption, prioritize stakeholder-specific messaging across primary communication channels, activate targeted partnerships to extend reach and accelerate trust-building, focus on energy storage optimization to capture highest growth potential and focus on energy generation to maximize market impact.
Key Attributes:
Report Attribute | Details |
No. of Pages | 355 |
Forecast Period | 2024 – 2034 |
Estimated Market Value (USD) in 2024 | $952.3 Million |
Forecasted Market Value (USD) by 2034 | $8160 Million |
Compound Annual Growth Rate | 24.0% |
Regions Covered | Global |
Major Market Trends
- Enhancing Industrial Efficiency With Generative ai Copilots
- Advancing Energy Efficiency With on-Site Generative ai Innovations
- Strategic Partnerships Driving Generative ai Innovation in the Energy Sector
Markets Covered:
- Component: Solutions; Services
- Application: Demand Forecasting; Renewable Energy Output Forecasting; Grid Management and Optimization; Energy Trading and Pricing; Customer Offerings; Energy Storage Optimization; Other Applications
- End-User: Energy Transmission; Energy Generation; Energy Distribution; Utilities; Other End Users
Key Companies Profiled:
- Microsoft Corporation
- Amazon.com Inc
- Oracle Corp
- Schneider Electric
- Alphabet Inc. (Google LLC)
Key Mergers and Acquisitions
- Trane Technologies Acquired BrainBox ai
- Accenture Plc Acquired Ammagamma
- Snowflake Inc. Acquired Myst ai
Recent Developments in Generative AI in Energy
- Revolutionizing Energy Management With ai-Driven Insights and Automation
- Enhancing Energy Efficiency and Resilience With Generative ai and Predictive Analytics
- Revolutionizing Predictive Maintenance With Generative ai and Conversational Intelligence
Companies Featured
- Microsoft Corporation
- Amazon.com Inc.
- Oracle Corp.
- Schneider Electric SE
- Alphabet Inc. (Google LLC)
- Siemens AG
- NVIDIA Corporation
- ABB Ltd.
- Atos SE
- Alpiq Holding Ltd.
- Mitsubishi Electric Corporation
- Huawei Technologies Co. Ltd
- Ecube Labs Co., Ltd
- Shandong Energy Group Co. Ltd
- YunDing Tech Co., Ltd
- Tata Power Company Limited
- GCL Energy Technology
- Infosys Limited
- Bidgely
- Kyndryl India
- Star Energy
- Barito Renewables
- Tokyo Electric Power Company (TEPCO)
- Hitachi, Ltd.
- Hyundai Engineering Co., Ltd
- General Electric Company
- Naver Corporation
- Iberdrola, S.A.
- EON SE
- Bidgely Utilityai
- Origami Energy Ltd
- ANNEA
- Hitachi Energy Ltd
- Deloitte Touche Tohmatsu Limited
- Ogre ai
- Enea Operator Sp.z.o.o.
- Electrica Group
- Google LLC
- Edgecom Energy
- Pacific Gas and Electric Company (PG&E)
- Schlumberger
- Databricks
- Snowflake Inc.
- Fluence
- Google Energy LLC
- International Business Machines Corporation
- ExxonMobil
- Baker Hughes Company
- Open ai
- Suncor Energy
- Ontario Power Generation Inc.
- Enbridge Inc.
- EDP Group
- Petroleo Brasileiro S.A.
- CPFL Energia
- Enel Brasil S.A
- Shell Brasil
- NEOM
- DataVolt
- Abu Dhabi National Oil Company (ADNOC)
- Saudi Aramco
- aiQ
- NeuRaL ai
- Sasol Limited
- Siemens
- DataProphet
- Eskom Hld SOC Ltd
- Serengeti Energy
- Aiteo Group
For more information about this report visit https://www.researchandmarkets.com/r/mxwd12
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- Generative AI in Energy Market