Dublin, January 6, 2026 (GLOBE NEWSWIRE) — The “Artificial intelligence (AI) in the field of energy and electricity, global market opportunities and strategies until 2034” was added to ResearchAndMarkets.com offer.
The global artificial intelligence (AI) market in energy and power is expected to witness significant growth over both the historical period 2019-2024 and the forecast periods up to 2034. The market, valued at nearly $5.23 billion in 2024, has witnessed an impressive compound annual growth rate (CAGR) of 24.11% since 2019. Future projections indicate that the market will grow from $5.23 billion in 2024 to $14.9 billion in 2029, maintaining a growth rate of 23.26%, and continuing to $40.68 billion by 2034 with a CAGR of 22.24%.
This progression is mainly due to increased investments in digital transformation and an increasing focus on energy efficiency and optimization. Additionally, the proliferation of smart grids and smart meters, along with the transition to renewable energy sources, is expected to fuel the market growth. However, challenges such as high implementation costs and interoperability issues can pose obstacles, alongside the impacts of global trade tensions.
Regionally, Asia Pacific dominated the market in 2024, contributing 35.94% of the total or $1.88 billion. The region is expected to remain a growth leader, with an expected CAGR of 26.20%, followed by robust growth prospects in the Middle East. These vibrant regional markets outpace Africa and South America, which are expected to grow at a CAGR of 23.45% and 22.85%, respectively.
The competitive landscape of the market is fragmented, with NVIDIA Corporation leading the top ten key players, holding only 1.95% market share in 2024. Siemens Energy and Schneider Electric SE, among others, contribute to this diverse competitive spectrum.
Technology-wise, machine learning is the largest segment, accounting for 44.89% or $2.35 billion of the market in 2024. Observations suggest a sharp increase in the other technologies segment. From the application perspective, the demand forecast stands out at 25.29% of the total market as it is expected to grow with the highest CAGR of 25.79% till 2029.
Within the end-user segmentation, the commercial and industrial market dominates at 73.67% or $3.85 billion in 2024, exhibiting the fastest growth trajectory with a CAGR of 24.01%. Significant opportunities notably lie in the machine learning and demand forecasting segments, poised to significantly increase annual sales by 2029.
Market strategies highlight the integration of AI into smart grid systems to improve operations, optimize renewable energy management, and deploy AI-based predictive maintenance for asset longevity. Businesses are advised to focus on expanding real-time AI applications, advancing predictive maintenance, improving customer engagement through AI, and exploring the dynamic growth of other technologies.
Overall, improving operational capabilities through strategic partnerships and increased presence in emerging markets remain key strategies for players in the AI in energy and power market.
Key attributes:
| Report attribute | Details |
| Number of pages | 387 |
| Forecast period | 2024 – 2034 |
| Estimated market value (USD) in 2024 | $5.23 billion |
| Projected market value (USD) by 2034 | $40.68 billion |
| Compound annual growth rate | 22.8% |
| Regions covered | Global |
Report chapters:
- Market Introduction and Characteristics: Overview of segmentations by technology, application and end user.
- Key trends: Detailed analysis of the main trends affecting the future of the market.
- Growth analysis and strategic framework: Assessment using PESTEL analysis, including historical and forecast market values.
- Global Market Size and Growth: Historical and forecasted market values, global growth contributors and restraining factors.
- Regional and national 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, historical comparisons and market share analysis by region.
- Competitive landscape: Overview of market shares and profiles of key players in the industry.
- Other major and innovative companies: Profiles of innovative companies in the market.
- Competitive benchmarking and dashboard: Financial and performance comparisons between major players.
- Main mergers and acquisitions: Recent financial details that influenced market developments.
- Recent developments: Overview of recent advancements and market outlook.
- Market Opportunities and Strategies: Analysis of growth opportunities and strategic direction.
- Conclusions and recommendations: Strategic advice for suppliers 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.
Featured Companies
- NVIDIA Company
- Siemens Energy
- Schneider Electric SE
- C3.ai Inc.
- Microsoft Company
- Alphabet Inc. (Google LLC)
- GE Vernova
- International Office Machinery Society
- ABB AG
- Shell SA
- GCL energy technology
- EdgeCortix Inc.
- BluWave-ai
- SK Group
- Huawei Technologies Co Ltd
- Infosys Limited
- Solar analysis
- Mitsubishi Electric Company
- 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
- Green Energy Monitor
- AutoGrid Systems Inc.
- Danfoss A/S
- Powerverse
- ABB AG
- ATOS SE
- Ogre AI
- Enea Operator Sp.zoo
- Electrica Group
- SparkCognition
- Snowflake Inc.
- Databricks, Inc.
- Honeywell International, Inc.
- Envérus
- Mastery
- General Electric Company
- Google Energy LLC
- International Office Machinery Society
- Baker Hughes Company
- BrainBox AI
- BluWave-ai
- Control technologies
- Mitsubishi Corporation do Brasil SA
- Bosch.IO
- Toshiba Company
- Third AI
- Groupe 42 Holding SA
- Digital Energy Technologies Ltd
- AIQ
- Omdena
- Sustainable Metal Cloud (SMC)
- Data Prophet
For more information on this report, visit https://www.researchandmarkets.com/r/czdniv
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