Artificial Intelligence in Energy Market
Artificial Intelligence in Energy Market Size, Share & Trends Analysis Report by Component Type (Solutions and Services), by Deployment Type (On-premise and Cloud), by Application (Energy Transmission, Energy Generation, Energy Distribution and Others), and by End Users (Robotics, Renewables Management, Demand Forecasting, Safety and Security and Others), Forecast Period (2023-2030) Update Available - Forecast 2024-2030
Artificial intelligence in energy market is anticipated to grow at a CAGR of 14.5% during the forecast period (2023-2030). Artificial intelligence holds considerable potential to improve power generation, transmission, distribution, and consumption. The energy sector in both emerging markets and advanced economies continues to increase efficiency, transparency, affordability, and the integration of renewable energy sources in power systems. Various company has launched innovating products by leveraging AI to autonomously analyze and predict network traffic patterns enabling operators to adjust resources to required capacity and performance, resulting in considerable power usage reductions. For instance, in June 2023, NEC Corp. launched a new windowAspire NetZero is an AI-enabled SaaS-based intelligent standalone energy reduction solution, designed to support mobile network operators in reducing unnecessary energy consumption in the Radio Access Network (RAN).
Segmental Outlook
The global artificial intelligence in energy market is segmented on the component type, deployment type, application, and end-users. Based on the component type, the market is sub-segmented into solutions and services. Based on the deployment type, the market is sub-segmented into on-premise and cloud. Based on the application, the market is sub-segmented into energy transmission, energy generation, energy distribution, and others (utilities). Further, based on end users, the market is sub-segmented into robotics, renewables management, demand forecasting, safety and security, and others (infrastructure). Among the applications, the energy generation sub-segment is anticipated to hold a considerable share of the market owing to the rise in the development of AI for the real-time monitoring of power grids, more accurate predictions of power fluctuations, and the development of new strategies to generate geothermal energy sources.
The Renewables Management to Showcase Significant Growth in Global Artificial Intelligence in Energy Market
Among the end-users, the renewables management sub-segment is growing at a considerable CAGR attributed to the growing adoption of AI algorithms that improving efficiency of renewable energy systems. By analyzing vast amounts of data from renewable energy sources, weather patterns, and historical performance, AI can optimize power generation, storage, and distribution. The complexity of the short-term power markets and the unpredictable nature of wind production. To tackle this problem, vast amounts of data from various sources need to be collected, stored, and analyzed. The AI solution leverages a performant and scalable data system and advanced machine learning algorithms to extract value from the data that supports subsequent decisions. Companies recognize patterns about the potential impact of renewable energy sitting on the landscape over time rather than as a moment in time and hence introducing solutions for sustainable energy. For instance, in September 2022, Microsoft Corp., Planet Labs PBC and The Nature Conservancy launched the Global Renewables Watch (GRW), a first-of-its-kind living atlas intended to map and measure all utility-scale solar and wind installations on Earth using AI and satellite imagery, allowing users to evaluate clean energy transition progress and track trends over time.
Regional Outlook
The global artificial intelligence in energy market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to increased applications of artificial intelligence in the energy sector, along with real-time maintenance and identification of ideal maintenance schedules.
Global Artificial Intelligence in Energy Market Growth by Region 2023-2030
The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Artificial Intelligence in Energy Market
Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the increase in the use of artificial intelligence and related to technologies that allow for communication between smart grids, smart meters, and Internet of Things (IoT) devices. AI technologies improve power management, efficiency, and transparency, and increase the use of renewable energy sources. Using AI in power sector addresses challenges such as governance, transparency, security, safety, privacy, employment, and economic impacts. AI is certain to play an important role in reducing distribution losses in emerging markets and in helping with maintenance and reliability issues. The transformation or digitalization of the energy sector is promoting the growth of AI in the renewable energy market in the region. Artificial intelligence is also being used to build smart home solutions. This factor is supporting the growth of AI in the Asia-Pacific renewable energy market.
Market Players Outlook
The major companies serving artificial intelligence in energy market include Microsoft Corp., Google, LLC, Amazon Web Services, Inc., Duke Energy Corp., General Electric, NextEra Energy, Inc, Nvidia Corp., and Schneider Electric SE, among other. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2021, Tata Power, India’s integrated power utility, announced that it had signed a three-year commercial agreement with BluWave-ai, the renewable energy AI company. This agreement comes after a successful trial project during which Tata Power evaluated the performance of the BluWave-ai cloud platform to generate intra-day and day-ahead dispatches for use in its power scheduling operations.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global artificial intelligence in energy market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Microsoft Corp.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Google, LLC
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Amazon Web Services, Inc.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Other
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
4. Market Segmentation
4.1. Global Artificial Intelligence in Energy Market by Component Type
4.1.1. Solutions
4.1.2. Services
4.2. Global Artificial Intelligence in Energy Market by Deployment Type
4.2.1. On-Premise
4.2.2. Cloud
4.3. Global Artificial Intelligence in Energy Market by Application
4.3.1. Energy Transmission
4.3.2. Energy Generation
4.3.3. Energy Distribution
4.3.4. Others (Utilities)
4.4. Global Artificial Intelligence in Energy Market by End-Users
4.4.1. Robotics
4.4.2. Renewables Management
4.4.3. Demand Forecasting
4.4.4. Safety and Security
4.4.5. Others (Infrastructure)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East and Africa
6. Company Profiles
6.1. AES Corp.
6.2. Alpiq Holding AG
6.3. AppOrchid Inc.
6.4. ATOS SE
6.5. Baker Hughes Company
6.6. C3.ai, Inc.
6.7. Duke Energy Corp.
6.8. Électricité de France S.A.
6.9. General Electric
6.10. Iberdrola SA
6.11. NextEra Energy, Inc
6.12. Nvidia Corp.
6.13. Ogre Artificial Intelligence S.R.LABB Ltd.
6.14. Origami Energy Ltd.
6.15. Schneider Electric SE
6.16. SECO Mind S.p.A.
6.17. Siemens AG
6.18. SmartCloud Inc.
6.19. Stem, Inc.
6.20. Zen Robotics Ltd.
1. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY COMPONENT TYPE, 2022-2030 ($ MILLION)
2. GLOBAL ARTIFICIAL INTELLIGENCE SOLUTION IN ENERGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL ARTIFICIAL INTELLIGENCE SERVICES IN ENERGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT TYPE, 2022-2030 ($ MILLION)
5. GLOBAL ON-PREMISE ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL CLOUD ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
8. GLOBAL ARTIFICIAL INTELLIGENCE FOR ENERGY TRANSMISSION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL ARTIFICIAL INTELLIGENCE FOR ENERGY GENERATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL ARTIFICIAL INTELLIGENCE FOR ENERGY DISTRIBUTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL ARTIFICIAL INTELLIGENCE FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY END-USERS, 2022-2030 ($ MILLION)
13. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY FOR ROBOTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. GLOBAL ARTIFICIAL INTELLIGENCE IN RENEWABLES MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
15. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY DEMAND FORECASTING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
16. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY SAFETY AND SECURITY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
17. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
18. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
19. NORTH AMERICAN ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
20. NORTH AMERICAN ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY COMPONENT TYPE, 2022-2030 ($ MILLION)
21. NORTH AMERICAN ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT TYPE, 2022-2030 ($ MILLION)
22. NORTH AMERICAN ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
23. NORTH AMERICAN ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY END-USERS, 2022-2030 ($ MILLION)
24. EUROPEAN ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
25. EUROPEAN ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY COMPONENT TYPE, 2022-2030 ($ MILLION)
26. EUROPEAN ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT TYPE, 2022-2030 ($ MILLION)
27. EUROPEAN ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
28. EUROPEAN ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY END-USERS, 2022-2030 ($ MILLION)
29. ASIA- PACIFIC ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
30. ASIA- PACIFIC ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY COMPONENT TYPE, 2022-2030 ($ MILLION)
31. ASIA- PACIFIC ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT TYPE, 2022-2030 ($ MILLION)
32. ASIA- PACIFIC ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
33. ASIA- PACIFIC ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY END-USERS, 2022-2030 ($ MILLION)
34. REST OF THE WORLD ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
35. REST OF THE WORLD ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY COMPONENT TYPE, 2022-2030 ($ MILLION)
36. REST OF THE WORLD ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT TYPE, 2022-2030 ($ MILLION)
37. REST OF THE WORLD ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
38. REST OF THE WORLD ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY END-USERS, 2022-2030 ($ MILLION)
1. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY COMPONENT TYPE, 2022 VS 2030 (%)
2. GLOBAL ARTIFICIAL INTELLIGENCE SOLUTION IN ENERGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
3. GLOBAL ARTIFICIAL INTELLIGENCE SERVICES IN ENERGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
4. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT TYPE, 2022 VS 2030 (%)
5. GLOBAL ON-PREMISE ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
6. GLOBAL CLOUD ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
7. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022 VS 2030 (%)
8. GLOBAL ARTIFICIAL INTELLIGENCE FOR ENERGY TRANSMISSION MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
9. GLOBAL ARTIFICIAL INTELLIGENCE FOR ENERGY GENERATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
10. GLOBAL ARTIFICIAL INTELLIGENCE FOR ENERGY DISTRIBUTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
11. GLOBAL ARTIFICIAL INTELLIGENCE FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
12. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY END-USERS, 2022 VS 2030 (%)
13. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY FOR ROBOTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
14. GLOBAL ARTIFICIAL INTELLIGENCE IN RENEWABLES MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
15. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY DEMAND FORECASTING MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
16. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY SAFETY AND SECURITY MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
17. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
18. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
19. GLOBAL ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SHARE BY REGION, 2022 VS 2030 (%)
20. US ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
21. CANADA ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
22. UK ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
23. FRANCE ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
24. GERMANY ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
25. ITALY ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
26. SPAIN ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
27. REST OF EUROPE ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
28. INDIA ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
29. CHINA ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
30. JAPAN ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
31. SOUTH KOREA ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
32. REST OF ASIA-PACIFIC ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
33. LATIN AMERICA ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
34. MIDDLE EAST AND AFRICA ARTIFICIAL INTELLIGENCE IN ENERGY MARKET SIZE, 2022-2030 ($ MILLION)
