According to a new report, published by KBV research, The Global AI In Energy Market size is expected to reach $63.6 billion by 2031, rising at a market growth of 29.5% CAGR during the forecast period.
The Solutions segment is leading the Global AI In Energy Market by Type in 2023; thereby, achieving a market value of $42.9 billion by 2031. This segment encompasses various AI-driven technologies and tools to optimize energy production, distribution, and consumption. Key applications include predictive maintenance, energy management systems, and smart grid technologies. These solutions help energy companies improve operational efficiency, reduce downtime, and enhance overall performance by leveraging data analytics and machine learning algorithms. As organizations seek to transition to smarter and more sustainable energy systems, the solutions segment is expected to maintain a strong market presence.
The Demand Forecasting segment is anticipating a CAGR of 28.9% during (2024 - 2031). Accurate demand forecasting is critical for energy providers to optimize supply and manage resources efficiently. AI algorithms analyze historical consumption data, weather patterns, and other variables to predict future energy demand accurately. By leveraging these insights, energy companies can make informed decisions regarding production, distribution, and pricing strategies. The growing complexity of energy consumption patterns, driven by electric vehicle adoption and fluctuating consumer behaviours, underscores the importance of advanced demand forecasting. As a result, this segment holds a promising revenue share in the AI in energy market, with organizations increasingly recognizing the value of AI-driven analytics for enhancing operational efficiency and reducing costs.
Full Report: https://www.kbvresearch.com/ai-in-energy-market/
The North America region dominated the Global AI In Energy Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $23.4 billion by 2031, growing at a CAGR of 28.6 % during the forecast period. The Europe region is experiencing a CAGR of 29% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 30.5% during (2024 - 2031).
By Type
By Application
By Geography
Unique Offerings 
