Role of IoT and AI in Energy Generation and Distribution Systems: Market Scope and Demand Analysis 2019-2026

In 2020, the evolution of industrialization has created the rise in need for energy generation in large quantity. The various energy generation sources include nuclear power generation, solar power generation, tidal power generation, hydel power generation, and others.

The energy generation and distribution market is witnessing immense growth and advancement in the area of distribution and management.

The key players covered in the report include Alstom SA, ABB, The AES Corporation, Cisco Systems Inc., Eaton Corporation, John Wood Group plc, Wartsila, The AES Corporation, Schneider Electric SE, and Landis+Gyr AG.

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In addition, the smart power distribution and growing grid upgradation & modernization creates the demand for installation of new & modern energy distribution & management equipment's across the globe.

Furthermore, the investment in power generation from renewable energy resources such as tidal, thermal, wind, and solar boosts the growth of the global energy generation & distribution market.

Increase in adoption of smart & advanced devices in the energy generation & distribution power plant, rise in investment on industrial automation and control system, and development of new non-conventional power generation plant drive the energy generation and distribution systems market growth.

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In addition, penetration of automated systems such as industrial panels and other remote-controlled devices to operate the machines and devices for effective control fuels the market growth.

The introduction of artificial intelligence and IoT enabled devices has led to precise & accurate system surveillance, detection, and repair & maintenance activities.

Furthermore, the industrial revolution 4.0 has also accelerated the growth of the energy generation and distribution systems market.

Further, the construction of renewable energy generation power plants such as wind energy plants, thermal energy plant, solar energy generations accelerates the market of energy generation and distribution system.

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In Asia-Pacific, china holds the highest market share and India is projected as most lucrative segment in the energy generation and distribution system market in near future.

The energy generation and distribution systems market is segmented on the basis power range, type, component, end use, and region.

On the basis of power range, it is segmented into low, mid, and high. By type, it is categorized into generation, transmission, and distribution. Based on component, it is segmented into hardware and software. On the basis of end use, it is segmented into domestic, commercial, and industrial. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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