Uncover the Renewable Energy Market, valued at USD 1080 Billion in 2024, projected to reach USD 1918 Billion by 2030, growing at a 12.17% CAGR during 2025-30.

Global green energy market worth at USD 129.09 billion in 2024, is expected to surpass USD 534.17 billion by 2034, with a CAGR of 15.26% from 2025 to 2034.

According to Cognitive Market Research, the Green Energy Market Size will be USD XX Billion in 2024 and is set to achieve a market size of USD XX Billion by the end of 2031 growing at a CAGR of XX% from 2025 to 2033.

North America held largest share of XX% in the year 2024. Europe held share of XX% in the year 2024. Asia-Pacific held significant share of XX% in the year 2024. South America held significant share of XX% in the year 2024. Middle East and Africa held significant share of XX% in the year 2024. Market Dynamics of the Green Energy Market:

Key Drivers of the market-

Increasing adoption of EVs significantly boost the green energy market growth-

The Gas- and Diesel-powered vehicles have lower efficiency than EVs due to increase in engine heat generation. EVs are more efficient and environment-friendly than fuel-based vehicles. The adoption of Electric vehicles significantly reduces the reliance on fossil fuels. For that purpose, India has supportive policies such as National Electric Mobility Mission Plan, Faster Adoption and Manufacturing of Hybrid and Electric Vehicles. The adoption of electric cars by people leads to significant growth in Electric four-wheelers for transportation.

For instance, TCS states that EV market will experience boom in 2025. For instance, Anupam Singhal, President of manufacturing at TCS has given his statement to EV magazine. The President shares his views on two main challenges related to EVs- advancing battery technology and complex vehicles designs. By resolving both queries TCS will accelerate shift towards sustainable transportation. Also, manufacturers and influencers believe that improvements in battery range and charging speed can boost the development of a market and the adoption of EVs.

The EV market is facing the penetration issue in India. Domestic production and advancements in technology, and government initiatives boost the EV market. For instance, the recent report of ANI 2025, highlighted the penetration in Electric Vehicles segment is decreasing and that is difficulty in completion of government’s target of XX% by 2030. But, the report states that the government initiative of Union Budget such as exemption in import duties for manufacturing raw material of EV that includes cobalt, lead, zinc, ion battery etc. can contribute to the development of EV manufacturing segment. Domestic production and expansion of Lithium-ion battery significantly boost an adoption of EVs due to lower production cost and affordable prices of EVs for consumers.

Other countries such as China raises the goals of EV penetration to complete their target by 2027. XX% of passenger vehicles sold in China were electric vehicles that contributed to sales. This was higher than XX million EVs sold than the rest of the countries. Therefore, China is the world’s largest market of Electric vehicles. For instance, the news of the World Resource Institute stated that China is the biggest player in the EV market. China’s support to EVs can drive forces such as the reduction in battery costs and the adoption of EVs worldwide.

Adoption of EVs is growing significantly in United States also. Consumers of United States also adopting the EVs on a large scale. EV market is primarily driven by BEVs in United States. According to the estimates XX% of total BEVs sold in United states. For instance, the article by US Energy Information Administration stated that BEV sales will continue to increase in United States. It will continue to be popular in luxury segment. This will significantly contribute to the growth of green energy market.

Therefore, increasing adoption of EVs significantly boost the green energy market growth.

Increasing use of Green Technology boosts development in green energy market– The green technology industry tries to combat with climate change conditions with the transition to clean energy like solar, wind, and hydropower. This leads to an increase in the use of smart grids, storage systems, and AI-powered energy management.
India’s ambitious goal of cutting carbon intensity and reaching Net-Zero Emission Target has fostered the major use of green technologies across the sectors. As per the India News Network Report 2025, the commitment to Net-Zero Emissions Target of India by 2070 and of the EU by 2050 leads to the major focus on research and development of green technology. For this co...

BCC Research Market Report says global market for solar power technologies is estimated to increase from $182.5 billion in 2022 to $371.7 billion by 2027, at a CAGR of 15.3% during 2022-2027.

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The artificial intelligence in energy market share is expected to increase by USD 6.78 billion from 2020 to 2025, and the market’s growth momentum will decelerate at a CAGR of 34.19%.

This artificial intelligence in energy market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers artificial intelligence in energy market segmentations by solution (software, hardware, and services) and geography (North America, Europe, APAC, MEA, and South America). The artificial intelligence in energy market report also offers information on several market vendors, including ABB Ltd., Alphabet Inc., Flex Ltd., General Electric Co., Intel Corp., International Business Machines Corp., Microsoft Corp., Origami Energy Ltd., Siemens AG, and Verdigris Technologies Inc. among others.

What will the Artificial Intelligence In Energy Market Size be During the Forecast Period?

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Artificial Intelligence In Energy Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing demand for data integration and visual analytics is notably driving the artificial intelligence in energy market growth, although factors such as existing issues of ai may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the artificial intelligence in energy market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Artificial Intelligence In Energy Market Driver

One of the key factors driving the global AI market is the growing demand for data integration and visual analytics. Rising proliferation and complexity have made the process of deploying and maintaining reliable data interfaces difficult. Enterprises around the world are, therefore, adopting data integration solutions. AI allows real-time synthesizing of data to facilitate real-time analysis for effective decision-making, thus enabling enterprises to monitor, transform, and deliver data; understand business processes; and bridge the gap between businesses and IT. Similarly, AI helps energy companies to integrate technical and business process data from different sources and convert them into meaningful business insights. With the exponential increase in data volume, the need for analyzing, transforming, monitoring, and interpreting data has become a priority for business operations. With globalization, customers, suppliers, and companies are scattered across the world and require real-time information exchange. To accomplish this, energy companies require AI platforms to link multiple enterprise systems with the web and cloud-based applications. Additionally, energy companies are integrating data with AI-powered video analytics systems to explore and analyze various types of data, such as sales data, for informed decision-making. Enterprises are also integrating business analytics software with their businesses for the dynamic representation of data. Hence, the demand for AI in the energy sector is likely to increase significantly during the forecast period.

Key Artificial Intelligence In Energy Market Trend

Increasing adoption of cloud-based solutions is another factor supporting the global AI market growth in the forecast period. With the increasing applications of robotics in repetitive and risky tasks, end-users are increasingly seeking avenues to ensure the elimination of limitations of industrial automation and robotics technologies. These limitations arise due to factors such as the cost, computational capacity, storage, size, power supply, motion mode, and working environment. Thus, the adoption of cloud-based AI solutions is increasing in the energy sector to enhance the capabilities of existing systems. Furthermore, the emergence of AI-as-a-service (AIaaS) is trending among various industrial users of AI, as it allows individuals and companies to access AI for various applications without large initial investment and with a lower risk of failure. AIaaS can allow energy companies to experiment on samples of multiple public cloud platforms to test various machine learning algorithms. AIaaS helps vendors in the market to increase their awareness about AI and its benefits, such as efficiency and maintenance of a company’s grid system and asset management of solar farms and gas plants. Companies like Alphabet, IBM, and GENERAL ELECTRIC are investing heavily in the development of prediction and maintenance systems for the energy industry and are planning

The global Energy as a Service Market in terms of revenue was estimated to be worth USD 83.44 Billion in 2025 & is poised to reach USD 237.01 Billion by 2034, growing at a CAGR of 12.3% from 2025 to 2034.

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Smart Energy Market Size 2024-2028

The smart energy market size is forecast to increase by USD 7.26 billion at a CAGR of 19.1% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing adoption of smart grid technologies and the rising investment in smart cities and smart homes. These trends are transforming the energy sector by enabling more efficient energy management and consumption. However, the intermittency in solar energy remains a challenge, as renewable energy sources become an increasingly larger part of the energy mix. To capitalize on market opportunities and navigate challenges effectively, companies must stay abreast of technological advancements and regulatory developments.
Strategic partnerships and collaborations can also help organizations expand their reach and enhance their offerings. By focusing on innovation and flexibility, companies can position themselves to thrive in this dynamic market.

What will be the Size of the Smart Energy Market during the forecast period?

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The market encompasses a range of technologies and services aimed at optimizing energy production and consumption, reducing carbon footprints, and integrating renewable energy sources into the grid. Key components include smart meters, distribution automation systems, and advanced metering devices for homes, offices, and industrial plants. Capital expenditures in this sector are driven by the adoption of smart grid technologies, such as solar energy, wind energy, and smart thermal grids. Consulting services play a crucial role in the development and implementation of these solutions, ensuring regulatory compliance and work management efficiency. The market's growth is fueled by the increasing importance of energy efficiency, the rise of renewable energy sources, and the integration of smart electricity grids.
Hardware, including smart sensors and communication networks, are essential for enabling real-time monitoring and control of energy usage. Overall, the market is experiencing significant growth as businesses and consumers seek to minimize their carbon footprints and improve energy management.

How is this Smart Energy Industry segmented?

The smart energy industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Smart grid
  Digital oilfield
  Smart solar systems
  HEMS


End-user

  Industrial
  Commercial
  Residential


Component

  Solution
  Services


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  Rest of World (ROW)

By Application Insights

The smart grid segment is estimated to witness significant growth during the forecast period. The market encompasses the deployment of intelligent electricity meters, solar energy, and renewable energy sources in homes, offices, and industrial plants. Smart grids, a significant segment of this market, leverage advanced metering devices, network infrastructure, and system integration services to optimize energy supply security. The US is a pioneer in this field, with substantial investments in smart grid technology. In 2022, the US allocated USD 84 billion for grid investments, making it the global leader. China follows with USD 75 billion, and other countries invest USD 63 billion. The smart grid market consists of electric grid equipment and services, including distribution automation systems, network management software, and hardware.

This technology integration aids in the efficient management of renewable power sources, such as solar and wind, and reduces carbon footprints while adhering to regulatory standards. Smart thermal grids and work management systems further enhance industrial processes, ensuring energy efficiency and cost savings. Smart gas and steam turbines are also integral components of the market, contributing to the overall growth and development of renewable energy sources.

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The Smart grid segment was valued at USD 1.92 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In North America, the growing emphasis on smart electricity and the expansion of intelligent electricity me

The United States renewable energy market size is projected to grow at a CAGR of 10.10% between 2025 and 2034.

Norway's Renewable Energy Market Report is Segmented by Source Type (wind, Hydro, and Other Sources (solar and Bioenergy)). The Report Offers the Market Size and Forecasts for the Norwegian Renewable Energy Market in Gigawatts (GW) for all the Above Segments.

Check out Market Research Intellect's Nuclear Energy Industry Research Report Market Report, valued at USD N/A in 2024, with a projected growth to USD N/A by 2033 at a CAGR of N/A (2026-2033).

Discover the latest insights from Market Research Intellect's Energy Market Report, valued at USD 2.2 trillion in 2024, with significant growth projected to USD 3.1 trillion by 2033 at a CAGR of 4.8% (2026-2033).

The Asia-Pacific Renewable Energy Market is segmented by type (Solar, Wind, Hydro, Bioenergy, and Other Types) and Geography ( China, India, Japan, Australia and Rest of Asia-Pacific)

The Southeast Asia Renewable Energy Market size was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, exhibiting a CAGR of 7.40 % during the forecast's periods. Currently, the Southeast Asia renewable energy market is vibrant due to rising awareness and concern on environmental conservation and energy portfolio diversification across the region’s countries. Southeast Asia has abundant renewable resource endowment such as solar energy, wind energy, hydro energy, biomass energy etc. for which the country is in a good standing to harness environmental amenities to respond to increasing energy demands and climate change challenges. Countries such as Thailand, Vietnam, Indonesia, and the Philippines are among those in the region that are most progressing in terms of renewable energy plans and available diverse energy sources. The government has the most influence because existing markets are mainly dependent on these policies and bonuses to grow. Most of the SEA countries have adopted the supporting policies like feed-in tariffs, tax exemptions, and quotas for the renewables to spur investment and promote more project activities. The cost of renewable technologies has come down over the years; they have improved in efficiency and are generally cheaper as compared to the conventional energy sources. Nevertheless, the market’s opportunities are sided with challenges, such as regulations, limited grids and access to finance. Moreover, the fluctuating nature of solar and wind energy sources implies that investment has to be made in other areas of electric infrastructure and hence storage technologies. Nevertheless, the given challenges should not overshadow the fact that the renewables market in SEA remains promising, which will contribute to the energy security of the region, its economic development, as well as the achievement of environmental objectives and increase the significance of SEA in the process of transformation of the world’s energy mix. Recent developments include: February 2024: The French development agency, Agence Française de Développement, announced that it was seeking to engage individual regional or international specialists to form a panel of experts to provide technical assistance services for the development of the 1.2 GW Bac Ai pumped-storage hydropower plant in the Ninh Thuan province of Vietnam., January 2024: Nexif Ratch Energy Investments Pte. Ltd, an owner/operator of clean-energy power, acquired the 30 MW Minh Luong hydropower plant, a run-of-river facility with peak-hour storage in Lao Cai province, Vietnam. The acquisition contributes to strengthening the Nexif Ratch Energy portfolio’s growth path in renewables and will create a stable and recurring income through a long-term power purchase agreement.. Key drivers for this market are: 4., Increasing Investments in Renewable Energy Generation4.; Favorable Government Policies. Potential restraints include: 4., Initial Cost of Renewable Energy Is High. Notable trends are: Solar Energy Segment to Witness Significant Growth.

PLC in Power Market size was valued at USD 3.17 Billion in 2024 and is projected to reach USD 10.55 Billion by 2031, growing at a CAGR of 4.52% from 2024 to 2031.

Global PLC in Power Market Analysis

Grid Modernization Initiatives: Governments and utilities worldwide are investing heavily in modernizing aging power grids to improve reliability and reduce outages. PLCs are integral to these upgrades as they enable real-time monitoring and control of grid components, facilitating quick responses to anomalies and enhancing grid stability.

Growing Demand for Energy Efficiency The need for energy-efficient operations in power generation, transmission, and distribution has increased significantly. PLCs optimize processes by controlling systems precisely, reducing energy waste, and improving overall system efficiency.

The Japan Smart Energy market is predicted to add more than 9 Billion from 2024 to 2029.

According to the latest research report, the Turkey solar energy market is projected to grow at a CAGR of 4.7% during 2025-2033. The report provides a comprehensive analysis of key trends across market segments, with detailed forecasts at regional and country levels for the period 2025-2033. It categorizes the market based on technology, application, and end user.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for ​2025-2033​​. Our report has categorized the market based on technology, application, and end user.

The size and share of this market is categorized based on Type (Private Blockchain, Public Blockchain) and Application (Power, Oil & Gas) and geographical regions (North America, Europe, Asia-Pacific, South America, Middle-East and Africa).

The US Energy Market is segmented by Generation (Conventional Thermal, Hydro, Nuclear, Non-hydro Renewable) and Transmission & Distribution.

The Japan Renewable Energy Market is Segmented by Type (Solar, Wind, Hydro, Bioenergy, and Other Types). The report offers the installed capacity and forecasts for Japan's renewable energy market in GigaWatts (GW) for all the above segments.

Internet of energy market is segmented into industry streams (oil & gas, power) and applications (fleet & asset management, preventive maintenance, energy management). As per BIS Research internet of energy market analysis is expected to grow at a CAGR of 21.05% during the forecast period from 2019 to 2024