Artificial Intelligence in Energy Market Size – USD 3.82 Billion in 2020, Market Growth – at a CAGR of 23.6%.
VANCOUVER, BC, CANADA, September 27, 2021 /EINPresswire.com/ — The report provides detailed insights into Artificial Intelligence in Energy market revenue trends, industry trends, consumer trends, market size, market share, market revenue growth drivers, and forecast, along with ranging impact of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in Artificial Intelligence in Energy market size over the forecast period, 2020–2028. The report includes profiles of major Artificial Intelligence in Energy players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. Also included are details regarding top Artificial Intelligence in Energy market players, manufacturers, and vendors and the various strategies being deployed in the market and objectives for these strategies.
The global Artificial Intelligence in energy market is expected to reach a market size of USD 20.83 Billion at a steady CAGR of 23.6% in 2028, according to latest analysis by Emergen Research. This steady revenue growth can be attributed to increasing need to obtain operational efficiency to meet energy requirements. Digitalization of the energy sector is contributing to increasing demand for Artificial Intelligence in energy systems.
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Global Artificial Intelligence in Energy market revenue growth is primarily driven by rising focus by major companies on product portfolio expansion, entry into new and untapped domestic and international markets, rising investments my top Artificial Intelligence in Energy market players, manufacturers, and vendors in strategic agreements and contracts, and rapidly increasing competition in the Artificial Intelligence in Energy market.
In addition, rapidly rising demand and deployment in respective sectors/industries in major and developing countries is supporting growth in terms of Artificial Intelligence in Energy market share contribution of these countries. In addition, Artificial Intelligence in Energy market share contribution is expected to continue to incline steadily over the forecast period due to favorable government policies, advancements in technology, and steady economic growth across various regions and countries.
Key Highlights of Report
In July 2020, Petro.ai, which is an expert in machine learning and Artificial Intelligence for geotechnical data science and providers of the industry-leading integrated analytics platform, announced the launch of a new offering enabling modern analytics from legacy data lakes using integrated data ingestion pipelines on Amazon Web Services (AWS). Petro.ai on AWS leverages the scalability and flexibility of AWS infrastructure to accelerate discovery of oil and gas insights through the fusion of subsurface and operational data.
The software segment accounted for largest revenue share of 2020. Artificial Intelligence-driven software is expected to improve customer savings by controlling energy costs without interrupting operations, which is expected to drive revenue growth of the software segment.
Power industry segment revenue is expected to expand at a rapid CAGR of 23.8% during the forecast period. Rising need to make the power industry more secure and efficient by analyzing and evaluating data volumes is a key factor driving demand for Artificial Intelligence solutions in the power industry.
Emergen Research has segmented the global Artificial Intelligence in energy market on the basis of product offering, industry stream, application, and region:
Product offering Outlook (Revenue, USD Billion; 2021–2028)
Industry stream Outlook (Revenue, USD Billion; 2021–2028)
Power Industry (Generation, Transmission, Distribution)
Oil & Gas Industry (Upstream, Midstream, Downstream)
Application Outlook (Revenue, USD Billion; 2021–2028)
Demand Response Management
Fleet & asset Management
Renewable Energy Management
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We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
Top key vendors in Artificial Intelligence in Energy Market include are:
Accenture PLC, Amazon Web Services, Inc., AutoGrid Systems, Inc, Cisco Systems Inc., C3 IoT, Inc., General Electric, HCL Technologies Ltd., Huawei Technologies Co., Ltd., IBM Corporation, and Intel Corporation.
The research provides answers to the following key questions:
What will be the growth rate and the market size of the Artificial Intelligence in Energy industry for the forecast period 2020-2027?
What are the major driving forces expected to impact the development of the Artificial Intelligence in Energy market across different regions?
Who are the major driving forces expected to decide the fate of the Artificial Intelligence in Energy industry worldwide?
Who are the prominent market players making a mark in the Artificial Intelligence in Energy market with their winning strategies?
Which Artificial Intelligence in Energy industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
What are the key barriers and threats believed to hinder the development of the industry?
What are the future opportunities in the Artificial Intelligence in Energy market?
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Table of Content
Chapter 1. Methodology & Sources
1.1. Artificial Intelligence in Energy Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Artificial Intelligence in Energy Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Artificial Intelligence in Energy Market Segmentation & Impact Analysis
4.1. Artificial Intelligence in Energy Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Artificial Intelligence in Energy Market indicators analysis
4.2.2. Artificial Intelligence in Energy Market drivers analysis
220.127.116.11. Rapid urbanization and industrialization
18.104.22.168. Stringent government regulations regarding carbon emissions
22.214.171.124. Increasing prevalence of respiratory diseases
126.96.36.199. Rising need to enhance indoor air quality
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Latest Technological Developments
Value Chain Analysis
Potential Market Opportunities
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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Source: EIN Presswire