Artificial Intelligence (AI) in Energy And Power Market Growth Analysis With Investment Opportunities
Artificial Intelligence (AI) in Energy And Power Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Artificial Intelligence (AI) in Energy And Power Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 10, 2024 /EINPresswire.com/ -- The artificial intelligence (AI) in energy and power market has experienced robust growth in recent years, expanding from $4.03 billion in 2023 to $5.24 billion in 2024 at a compound annual growth rate (CAGR) of 30.1%. The growth in the historic period can be attributed to data availability and quality, regulatory support, cost reduction, increased connectivity, demand for renewable energy.
Strong Future Growth Anticipated
The artificial intelligence (AI) in energy and power market is projected to continue its strong growth, reaching $13.62 billion in 2028 at a compound annual growth rate (CAGR) of 27.0%. The growth in the forecast period can be attributed to advanced analytics and predictive modeling, smart grid optimization, decentralized energy system, resilience planning, global energy transition.
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Growth Driver Of The Artificial Intelligence (AI) in Energy And Power Market
The growing investments in energy sectors are expected to propel the growth of artificial intelligence (AI) in energy and power market going forward. Investments refer to the allocation of resources, typically money, with the expectation of generating a return or profit over time. The energy and power sectors have been using investments to leverage artificial intelligence (AI) in various ways to improve decision-making, optimize operations, improve energy management, and enhance the dependability and quality of services in the industry.
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Major Players And Market Trends
Key players in the artificial intelligence (AI) in energy and power market include Google LLC, Microsoft Corporation, Mitsubishi Electric Corporation, Bosch.IO, Siemens AG, General Electric Company, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Group, NVIDIA Corporation, Toshiba Corporation, Emerson Electric Co, Rockwell Automation Inc., SAS Institute Inc., DNV GL, Sierra Wireless Inc., C3.ai Inc., Vayyar Imaging Ltd., Uptake Technologies Inc., Verdigris Technologies Inc., ClearPath Robotics, Aurora Solar Technologies, SenseHawk.
Major companies operating in artificial intelligence (AI) in the energy and power markets are developing innovative AI advancements, such as gridmatic retail, to meet the advanced energy needs of commercial customers. An AI-enabled power marketer to optimize clean energy purchasing and provide predictability and automation for commercial and industrial customers with advanced energy needs.
Segments:
1) By Technology: Machine Learning, Natural Language Processing, Computer Vision
2) By Application: Demand Forecasting, Energy Production and Distribution Optimization, Energy Management, Smart Grids, Smart Meter, Other Applications
3) By End-User: Commercial And Industrial, Residential
Geographical Insights: North America Leading The Market
North America was the largest region in the artificial intelligence (AI) in energy and power market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of artificial intelligence (AI) in energy and power.
Artificial Intelligence (AI) in Energy And Power Market Definition
Artificial intelligence (AI) in energy and power refers to the use of AI technologies to optimize energy systems, reduce costs, and improve efficiency in the energy and power markets. It has been used to improve predictions of supply and demand, optimize renewable energy systems, such as wind and solar power, and optimize energy production, such as oil and gas exploration and production.
Artificial Intelligence (AI) in Energy And Power Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Artificial Intelligence (AI) in Energy And Power Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on artificial intelligence (AI) in energy and power market size, artificial intelligence (AI) in energy and power market drivers and trends, artificial intelligence (AI) in energy and power market major players, artificial intelligence (AI) in energy and power competitors' revenues, artificial intelligence (AI) in energy and power market positioning, and artificial intelligence (AI) in energy and power market growth across geographies. The artificial intelligence (AI) in energy and power market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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