North America AI In Energy Market Size, Share & Trends Analysis Report By Type (Solutions and Services), By Application, By Country and Growth Forecast, 2024 - 2031

Analysis of Market Size & Trends

The North America AI In Energy Market would witness market growth of 28.6% CAGR during the forecast period (2024-2031).

The US market dominated the North America AI In Energy Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $16,832.8 million by 2031. The Canada market is experiencing a CAGR of 31.2% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 30.3% during (2024 - 2031).

AI algorithms are increasingly utilized to optimize energy production processes. In renewable energy sources such as solar and wind, AI can analyze vast datasets, including weather patterns, historical performance, and energy demand, to enhance the efficiency of energy generation. For instance, predictive analytics can forecast energy output based on real-time weather data, enabling operators to adjust production schedules and resource allocation accordingly.

In addition, AI plays a crucial role in managing the complexities of modern power grids. Using machine learning algorithms, energy providers can analyze data from smart meters, sensors, and distributed energy resources (DERs) to monitor grid performance in real-time.

Mexico's rising renewable energy sector significantly impacts AI's growth in the energy sector. As the country sets ambitious goals for clean energy production, AI technologies are becoming essential for optimizing energy management, improving efficiency, and integrating renewable sources like wind and solar into the grid. Mexico intends to generate 35% of its electricity from renewable energy sources by 2024, as the International Trade Administration indicated in 2023. This shift is pushing the adoption of AI-driven solutions to forecast energy demand, manage power generation, and reduce operational costs.

Free Valuable Insights: The AI In Energy Market is Predict to reach USD 63.6 Billion by 2031, at a CAGR of 29.5%

Based on Type, the market is segmented into Solutions and Services. Based on Application, the market is segmented into Renewable Energy Management, Demand Forecasting, Robotics, Safety Security & Infrastructure, and Other Application. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled

• Siemens AG
• ABB Group
• Schneider Electric SE
• GE Vernova Group
• Hitachi, Ltd
• Honeywell International Inc.
• Amazon Web Services, Inc. (Amazon.com, Inc.)
• Google LLC
• Microsoft Corporation
• AutoGrid Systems, Inc.

North America AI In Energy Market Report Segmentation

By Type

• Solutions
• Services

By Application

• Renewable Energy Management
• Demand Forecasting
• Robotics
• Safety Security & Infrastructure
• Other Application

By Country

• US
• Canada
• Mexico
• Rest of North America