Artificial Intelligence in Energy Market

The global AI in energy market size is projected to grow from USD 8.91 billion in 2024 to USD 58.66 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 36.9% during the forecast period. The power grid is one of the largest machines ever built. Despite its size and complexity, grid planners must continue to shape the growth of the power grid to ensure that every user can connect to the power grid, that sufficient generation exists to meet load, and that generation can reach loads. Achieving a fully clean power grid will necessitate substantial investments in new infrastructure, encompassing both additional clean energy generation and the expansion of distributed energy systems. Artificial Intelligence can potentially reduce the extent of new infrastructure development required to attain a 100% clean grid by optimizing underused assets, enhancing coordination and efficiency in new infrastructure projects, and synthesizing the extensive and varied technical data essential for this transition through advanced foundational models.

Key and innovative vendors in the AI in energy market

Schneider Electric SE (France), GE Vernova (US), ABB Ltd (Switzerland), Honeywell International (US), Siemens AG (Germany), AWS (US), IBM (US), Microsoft (US), Oracle (US), Vestas Wind Systems A/S (Denmark), Atos zData (US), C3.ai (US), Tesla (US), Alpiq (Switzerland), Enel group (Italy), Origami Energy (UK), Innowatts (US), Irasus technologies (India), Grid4C (US), Uplight (US), GridBeyond (Ireland), eSmart Systems (Norway), Ndustrial (US), Datategy (France), Omdena (US). The market players have adopted various strategies to strengthen their AI in energy market position. Organic and inorganic strategies have helped the market players expand globally by providing energy solutions & services.

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Schneider Electric SE

Schneider Electric SE is a French multinational corporation that specializes in digital automation and energy management. Schneider Electric offers AI-driven energy solutions for homes and industries. Its Wiser Home platform optimizes household energy consumption using machine learning, additionally its EcoStruxure Platform enhances industrial energy efficiency, sustainability, and productivity. Schneider Electric partnered with Ooredoo Qatar to collaborate on digital transformation projects. The partnership will focus on incorporation of innovative technologies such as cloud computing, artificial intelligence (AI), and eco-friendly data centers, enhancing efficiency and sustainability in sectors like utilities, healthcare, energy, and infrastructure.

GE Vernova

GE Vernova Inc. is an energy equipment manufacturing and services company. GE Vernova offers innovative solutions in energy segment, integrating AI and digital technologies. The solutions include Autonomous Inspection, AI/ML tools, and CERIUS for optimized asset performance, emissions reduction, and compliance. GE Vernova and U.S. Department of Energy collaborated to develop AI Assistant for permitting and trainings for hydrogen deployment. GE Vernova will lead a project team named H2Net, including Clemson University, and Roper Mountain Science Center. As part of this initiative, H2Net is will be to developing an AI Assistant that is trained specifically on the relevant, critical documents for safe H2 handling and permitting.

Siemens AG

Siemens AG is a German multinational technology company. It provides solutions & services across industrial automation, distributed energy resources, rail transport, and health technology segment. Siemens offers AI-powered solutions in energy through tools like the Hydrogen Plant Configurator and advanced automation systems. The configurator uses generative AI to streamline hydrogen plant design, providing detailed layouts and predicting key metrics. Its energy automation solutions integrate IoT, digital twins, and data analytics to enhance energy protection, communication, and operational efficiency. SparkCognition and Siemens partnered on a cybersecurity system, DeepArmor Industrial, fortified by Siemens, which is designed to protect endpoint, or remote, operational technology (OT) assets across the energy value chain by leveraging artificial intelligence to monitor and detect cyberattacks.

Related Reports:

Artificial Intelligence in Energy Market by Application (Energy Demand Forecasting, Grid optimization & management, Energy Storage Optimization), End Use (Generation, Transmission, Distribution, Consumption) - Global Forecast to 2030

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Mr. Rohan Salgarkar
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