The global ai in energy market was valued at $4.0 billion in 2021, and is projected to reach $19.8 billion by 2031, growing at a CAGR of 17.4% from 2022 to 2031.
Artificial Intelligence is defined as the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings. The three fundamental AI concepts are machine learning, deep learning, and neural networks.
The artificial intelligence in energy market is segmented on the basis of component type, deployment type, application, end user, and region. On the basis of component type, it is bifurcated into solutions and services. By deployment type, the market is categorized into on-premise and cloud. On the basis of application, the market is classified into robotics, renewables management, demand forecasting, safety & security, infrastructure, and others. On the basis of end user, it is divided into energy transmission, energy generation, energy distribution, and utilities. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global artificial intelligence in energy market profiles leading players that include, ABB ltd., Accenture plc, Amazon Web Services Inc., Autogrid Systems, Inc., C3.ai, Centrica plc, Cisco Systems Inc., General Electric, HCL Technologies, Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, Mitsubishi Electric and Schneider Electric, and Senseye. The global artificial intelligence in energy market report provides in-depth competitive analysis as well as profiles of these major players.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investments. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain intense competition in the industry.
Artificial Intelligence is defined as the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings. The three fundamental AI concepts are machine learning, deep learning, and neural networks.
The artificial intelligence in energy market is segmented on the basis of component type, deployment type, application, end user, and region. On the basis of component type, it is bifurcated into solutions and services. By deployment type, the market is categorized into on-premise and cloud. On the basis of application, the market is classified into robotics, renewables management, demand forecasting, safety & security, infrastructure, and others. On the basis of end user, it is divided into energy transmission, energy generation, energy distribution, and utilities. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global artificial intelligence in energy market profiles leading players that include, ABB ltd., Accenture plc, Amazon Web Services Inc., Autogrid Systems, Inc., C3.ai, Centrica plc, Cisco Systems Inc., General Electric, HCL Technologies, Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, Mitsubishi Electric and Schneider Electric, and Senseye. The global artificial intelligence in energy market report provides in-depth competitive analysis as well as profiles of these major players.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investments. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain intense competition in the industry.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the ai in energy market analysis from 2021 to 2031 to identify the prevailing ai in energy market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the ai in energy market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global ai in energy market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Component Type
- Solutions
- Services
By Deployment Type
- On-Premise
- Cloud
By Application
- Robotics
- Renewables Management
- Demand Forecasting
- Safety Security
- Infrastructure
- Others
By End-Use
- Energy Transmission
- Energy Generation
- Energy Distribution
- Utilities
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Malaysia
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Argentina
- Rest of LAMEA
Key Market Players
- Atos SE
- Siemens Energy
- Schneider Electric
- GE Vernova
- Terex Corporation
- Vestas
- Iberdrola, S.A.
- JinkoSolar Holding Co., Ltd
- AutoGrid Systems, Inc.
- Constellation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AI IN ENERGY MARKET, BY COMPONENT TYPE
CHAPTER 5: AI IN ENERGY MARKET, BY APPLICATION
CHAPTER 6: AI IN ENERGY MARKET, BY END USER
CHAPTER 7: AI IN ENERGY MARKET, BY DEPLOYMENT TYPE
CHAPTER 8: AI IN ENERGY MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report, titled, 'AI in Energy Market,' the AI in energy market size was valued at $4 billion in 2021, and is estimated to reach $19.8 billion by 2031, growing at a CAGR of 17.4% from 2022 to 2031.Artificial intelligence is the simulation of human intelligence processes by machines, especially computer systems. Specific applications of AI include expert systems, natural language processing, and speech recognition and machine vision. Every industrial environment needs artificial intelligence . The adoption of AI offers particularly good potential for AI in energy market growth. Artificial intelligence gives a machine the capability to learn and make choices in order to solve issues or improve outcomes in order to achieve a goal. In the energy business, there are several decisions that must be made quickly and with a large amount of data. Artificial intelligence industry is capable of carrying out these crucial judgments in the most effective way possible, which calls for the immediate collection and analysis of these massive volumes of data.
In addition, electric vehicles are the way of the future, but they also come with new difficulties. AI is now being installed in the electric vehicle sector within cars themselves in order to manage it and transmit information that contributes to solving these challenges, but also outside the car to facilitate the effective management of reports, intelligent mobility solutions, etc. Artificial intelligence is attempting to be used in the energy sector and is already proving essential by providing the market and households with new information services in the control over energy infrastructure, optimizing generation, reducing consumption, or fighting climate change, which are only some of the promises it holds in the coming years. This factor is predicted to create AI in energy market opportunities for expansion of the market in the future.
Furthermore, energy companies are integrating data with AI-powered video analytics systems to explore and analyze various types of data, such as sales data, for informed decision-making. For the dynamic depiction of data, firms are incorporating business analytics software into their operations. As a result, the need for AI in energy sector is anticipated to grow considerably throughout the projection period.
The AI in energy market forecast is segmented based on component type, deployment type, application, end-user, and region. Based on component type, it is classified into solutions and services. By deployment type, the market is categorized into on-premise and cloud. Based on application, the market is fragmented into robotics, renewables management, demand forecasting, safety & security, infrastructure, and others. Based on end-user, it is divided into energy transmission, energy generation, energy distribution, and utilities. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the global AI in energy market analysis include ABB ltd., Accenture plc, Amazon Web Services Inc., Autogrid Systems, Inc., C3.ai, Centrica plc, Cisco Systems Inc., General Electric, HCL Technologies, Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, Mitsubishi Electric, and Schneider Electric and Senseye.
Key findings of the study
By component type, the solutions segment is estimated to display the highest growth rate in revenue, registering a CAGR of 17.2% from 2022 to 2031.By deployment type, the cloud segment is estimated to display the highest growth rate in revenue, registering a CAGR of 17.6% from 2022 to 2031.
By applications, the safety and security segment is anticipated to register the highest CAGR of 18.0% during the forecast period.
By end user, the utility segment is anticipated to register the highest CAGR of 17.9% during the forecast period.
Asia-Pacific garnered the highest AI in energy market share of 40% in 2021, in terms of revenue, growing at a CAGR of 17.7%.
Companies Mentioned
- Atos SE
- Siemens Energy
- Schneider Electric
- GE Vernova
- Terex Corporation
- Vestas
- Iberdrola, S.A.
- JinkoSolar Holding Co., Ltd
- AutoGrid Systems, Inc.
- Constellation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | September 2024 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 4 billion |
| Forecasted Market Value ( USD | $ 19.8 billion |
| Compound Annual Growth Rate | 17.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
