AI in Energy Market Growth Opportunities and Industry Development By 2030

Increase in adoption of cloud based solutions in AI is one of the major trends in the energy sector to enhance the capabilities of existing systems

PORTLAND, OREGON, UNITED STATES, August 25, 2022 /EINPresswire.com/ -- Global AI in Energy Market by Component Type (Solutions and Services), Deployment Type (On-premise and Cloud), Application (Robotics, Renewables Management, Demand Forecasting, Safety & Security, Infrastructure, and Others), and End User (Energy Transmission, Energy Generation, Energy Distribution, and Utilities): Global Opportunity Analysis and Industry Forecast, 2021-2030

Artificial intelligence (AI) is an extent of computer technology that highlights the formation of intelligent machines that works and reacts like humans. In addition, considering advanced technologies, it creates extreme changes and effects of AI technology in the energy and utility market which can be seen in their applications such as smart automated grid and energy distribution system. High investment is one of the biggest challenges that impede the growth of this technology in the energy and utilities sector. This sector involves in production and distribution of energy constitutes such as oil & gas, and power generation. AI in Energy is playing a significant role. The application of artificial intelligence in the energy sector is increasingly reaching the emerging economies, where it is playing a significant impact because these emerging economies understand clean, inexpensive, and dependable electricity is essential for growth. Power companies are increasingly counting on intelligence (AI) to improve the energy supply. These difficulties are aggravated in a lot of developing countries.

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Top Impacting Factors:
Artificial intelligence software in energy market came up with growth in software market due to increase in implementation of cloud based solution and growth in adoption of micro grids technology, and it is likely to see the fastest growth during pandemic and increase in the number of renewable energy producers in emerging economies such as China and India. In addition, North America was the largest AI in energy market in 2019, and offered several growth opportunities to market vendors during the forecast period. However, AI in energy market disintegrated. Some of the major market vendors such as 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. which are used to help many clients improve their market condition and provides a detailed analysis of the market.

Increase in Adoption of Cloud Based Solutions
Increase in adoption of cloud based solutions in AI is one of the major trends in the energy sector to enhance the capabilities of existing systems. In addition, with the rise applications of robotics management in tedious and risky tasks, end users are increasingly seeking opportunities to ensure the rejection of margins of industrial automation and robotics technologies.

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Rise of Micro-grid Adoption
AI provides a certain amount of capability to balance micro-grids, demands, negotiate actions, self-healing and facilitating ability for new software and services. Micro-grid adoption in AI, particularly evolving and growing rapidly due to implementation of smart cities is expected to drive the energy market. In addition, many government sectors and organizations have started investigating the viability of micro-grids to enable persistence of service during an emergency or power outage. Furthermore, with the evolution of different technologies such as distributed energy resources and block-chain, AI has prospective to deliver the active management which is the requirement of the future.

The market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.

Key Market Players in AI in Energy Market
ABB Ltd., Alphabet Inc., Flex Ltd., General Electric Co., Intel Corp., International Business Machines Corp., Microsoft Corp., Origami Energy Ltd., Siemens AG, Verdigris Technologies Inc

Highlights of the study report
• A thorough assessment of the matrix of vendors as well as major firms would help in understanding the competitive scenario in the market
• Information on regulatory and investment scenarios for the market
• An analysis of the factors fueling the market growth along with their influence on the projection and dynamics of the AI in Energy Market
• A detailed roadmap presenting growth opportunities in the Artificial intelligence (AI) in Energy Market along with identification of key factors influencing the market growth
• A comprehensive assessment of the many trends prevailing in the AI in Energy market would help in identifying market developments

David Correa
Allied Analytics LLP
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