AI in Energy Market Size, Share Analysis -2031

The global artificial intelligence (AI) in energy market size 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. The developed and developing nations are adopting artificial intelligence in energy sector and are highly contributing towards the growth of the market during the forecast period. Measuring greenhouse gas emissions with AI enabled drones, accelerating energy transition and optimizing geothermal energy are the strategies being adopted by major players that are operating in the artificial intelligence in the energy market which may enhance the market position and boost the growth of the market over the forthcoming years. Artificial intelligence (AI) is an extent of computer technology that emphasizes the formation of intelligent machines which works and reacts such as humans. In addition, considering advanced technologies, it creates significant changes and effects of AI technology in the energy and utility market that can be seen in their applications such as smart automated grid and energy distribution system.