About Artificial Intelligence in Energy
Artificial intelligence in the energy sector is now reaching emerging markets, where it may have a critical impact, as clean, cheap, and reliable energy is essential to development. Artificial intelligence technologies are closely tied to the ability to provide clean and cheap energy that is essential to development. Increasing demand for artificial intelligence in the energy sector from developed nations that allow for communication between smart grids, smart meters, and Internet of Things devices is propelling the growth of the global artificial intelligence in the energy market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Artificial Intelligence in Energy market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Alphabet (United States), General Electric (United States), Siemens (Germany), Watty (Sweden), IBM (United States), Schneider Electric (France), BuildingIQ (United States), ABB (Switzerland) and Grid4C (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Artificial Intelligence in Energy market by Type (Software, Hardware and Services), Application (Fault Prediction, Maintenance Facilitated by Image Processing, Energy Efficiency Decision Making, Disaster Recovery and Prevention of Losses Due to Informal Connections) and Region.
On the basis of geography, the market of Artificial Intelligence in Energy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organization Size, the sub-segment i.e. Small and Medium Size Organization will boost the Artificial Intelligence in Energy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud-based will boost the Artificial Intelligence in Energy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of Machine Learning
Market Growth Drivers:
Rising Demand for Energy across the Globe and Lack of Analytics Needed for Optimal Management
Challenges:
Rising Threat of Cyber Security
Restraints:
Lack of Skilled Working Professionals
Opportunities:
Technological Advancement and Development in Artificial Intelligence in Energy
Market Leaders and their expansionary development strategies
In December 2023, Adani Enterprises Limited, through its partnership with Sirius International Holding, a subsidiary of International Holding Company (IHC), is venturing into the field of artificial intelligence (AI), IoT and blockchain technology. This collaboration has led to the creation of a joint venture (JV) named Sirius Digitech International Limited, based in Abu Dhabi. The JV is owned 51% by Sirius and 49% by Adani.
In December 2023, The UN Climate Change Technology Executive Committee (TEC), together with Enterprise Neurosystem, a non-profit open-source artificial intelligence (AI) community, has launched the AI Innovation Grand Challenge to identify and support the development of AI-powered solutions for climate action in developing countries.
Key Target Audience
Artificial Intelligence in Energy Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.