Press release
AI in Energy Growing Rapidly With Huge Application Scope By 2031
Artificial intelligence gives a machine the capability to learn and make choices in order to solve issues or improve outcomes in order to achieve a goal. In the energy business, there are several decisions that must be made quickly and with a large amount of data. Artificial intelligence industry is capable of carrying out these crucial judgments in the most effective way possible, which calls for the immediate collection and analysis of these massive volumes of data.
Interested to Procure the Data? Request Sample Here @ https://www.alliedmarketresearch.com/request-sample/12952
In addition, electric vehicles are the way of the future, but they also come with new difficulties. AI is now being installed in the electric vehicle sector within cars themselves in order to manage it and transmit information that contributes to solving these challenges, but also outside the car to facilitate the effective management of reports, intelligent mobility solutions, etc. Artificial intelligence is attempting to be used in the energy sector and is already proving essential by providing the market and households with new information services in the control over energy infrastructure, optimizing generation, reducing consumption, or fighting climate change, which are only some of the promises it holds in the coming years. This factor is predicted to create AI in energy market opportunities for expansion of the market in the future.
Furthermore, energy companies are integrating data with AI-powered video analytics systems to explore and analyze various types of data, such as sales data, for informed decision-making. For the dynamic depiction of data, firms are incorporating business analytics software into their operations. As a result, the need for AI in energy sector is anticipated to grow considerably throughout the projection period.
The AI in energy market forecast is segmented based on component type, deployment type, application, end-user, and region.
Based on component type, the solutions segment held the largest share in 2021, accounting for nearly two-thirds of the global AI in energy market share, and would rule the roost through 2031. However, the services segment is estimated to witness the fastest CAGR of 17.7% during the forecast period.
In terms of application, the safety and security segment captured the largest market share of more than one-third of the global AI in energy market in 2021 and is expected to lead the trail during the forecast period. The same segment is likely to achieve the fastest CAGR of 18.0% through 2031. The report includes other segments such as robotics, renewables management, demand forecasting, infrastructure, and others segments.
In terms of deployment type, the cloud segment captured the largest market share of nearly two-thirds of the global AI in energy market in 2021 and is likely to maintain a noteworthy growth during the forecast period. The same segment is likely to achieve the fastest CAGR of 17.6% through 2031. The report also includes on-premise segment.
Request a Discount Before Purchasing Report @ https://www.alliedmarketresearch.com/purchase-enquiry/12952
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for two-fifths of the global AI in energy market share, and is likely to maintain its leadership status during the forecast period. Moreover, the market in the same region is expected to manifest the highest CAGR of 17.7% from 2022 to 2031. The other regions analyzed in the study include North America, Europe, and LAMEA.
Key players operating in the global AI in energy market analysis include ABB ltd., Amazon Web Services Inc., Autogrid Systems, Inc., C3.ai, Centrica plc, Cisco Systems Inc., General Electric, HCL Technologies, Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, Mitsubishi Electric, and Schneider Electric and Senseye.
Key findings of the study
• By component type, the solutions segment is estimated to display the highest growth rate in revenue, registering a CAGR of 17.2% from 2022 to 2031.
• By deployment type, the cloud segment is estimated to display the highest growth rate in revenue, registering a CAGR of 17.6% from 2022 to 2031.
• By applications, the safety and security segment is anticipated to register the highest CAGR of 18.0% during the forecast period.
• By end user, the utility segment is anticipated to register the highest CAGR of 17.9% during the forecast period.
• Asia-Pacific garnered the highest AI in energy market share of 40% in 2021, in terms of revenue, growing at a CAGR of 17.7%.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Follow us on: https://www.linkedin.com/company/allied-market-research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release AI in Energy Growing Rapidly With Huge Application Scope By 2031 here
News-ID: 2985477 • Views: 295
More Releases from Allied Analytics LLP
Water and Wastewater Pipe Market Size, Share, Growth, 2030
The water and wastewater pipe market plays a critical role in the efficient transportation and management of water resources. This research article provides a comprehensive analysis of the global water and wastewater pipe market, including its current trends, market dynamics, key players, and growth prospects. The study explores the impact of factors such as population growth, urbanization, infrastructure development, and sustainability on the market's growth trajectory. The article aims to…
Sand Washing Machine Market Size, Share, Growth 2030
Abstract:
Sand washing machines play a crucial role in the construction, mining, and aggregate industries by efficiently cleaning and removing impurities from sand and gravel. This research article provides a comprehensive analysis of the global sand washing machine market, including its current trends, market dynamics, key players, and growth prospects. The study explores the impact of technological advancements, environmental regulations, and regional factors on the market's development, and provides valuable insights…
Slurry Seal Machines Market Share, Trends & Industry, 2030
Slurry seal machines are essential equipment used in the construction and maintenance of road surfaces. They play a vital role in applying slurry seal, a mixture of asphalt emulsion, aggregate, water, and additives, to extend the lifespan and enhance the durability of pavements. This research article provides a comprehensive analysis of the global slurry seal machines market, including its current trends, market dynamics, key players, and growth prospects. The study…
Seam Welding Machine Market Size & Share Report, 2030
Abstract:
Seam welding machines are vital equipment used in various industries, including automotive, aerospace, electronics, and manufacturing, for joining metal components by creating a continuous weld along the seam. This research article provides an in-depth analysis of the global seam welding machine market, including its current trends, market dynamics, key players, and growth prospects. The study explores the impact of technological advancements, industry regulations, and emerging applications on the market's expansion…
More Releases for CAGR
Cat Litter Box Market | CAGR of 9.1% | Revenue & CAGR of 9.1%
Cat Litter Box Market Report provides precise data about the market size, commercialization aspects and revenue forecast of the industry. The global Cat Litter Box market offers a historical factsheet relevant to the strategic mergers, acquirements, joint venture activities, and partnerships spread in the Cat Litter Box market. The most advanced data has been presented in the study on the revenue numbers, product details, and sales of the major firms.…
Predictive Analytics Market Growing at Strong CAGR of CAGR of 25.31% 2019
Predictive analytics helps to extract information from the existing data. It helps in understanding the pattern and predict the trend or future for the organization. It uses what-if scenarios to predict possible risks involved in the future. Predictive analytics also helps in the optimization of the marketing campaigns and understanding of the customer behaviour for increasing the end-user response and to reduce the churn.
Predictive analytics is segmented into:
Risk management:…
Global Absorption Chillers Market Reflecting a CAGR of 7.6% CAGR through 2025
The demand for thermally-driven chillers in multiple industrial verticals is poised to grow in the immediate future. Considering the rising demand for electrical chillers in commercial, residential as well as industrial settings, the adoption of absorption chillers will gain traction at considerable rate. By consuming lesser energy than conventional electrical chillers, absorption chillers will also garner surplus demand for not using ozone-depleting chlorofluorocarbons (CFC) for chilling purposes. Persistence Market Research’s…
Aircraft Sensors Market Growing at a CAGR of 6.4% CAGR By 2022
The global aircraft sensors market is forecasted to receive a strong push in its growth momentum on the back of advancements in technologies, massive investments forwarded by private equity groups, and the elevation in the demand for aircraft. Adherence to the requirements and regulations of authorities such as local aircraft regulatory bodies and the Federal Aviation Administration (FAA) could pamper the growth of the market. Nonetheless, there could be more…
China Baby Diapers Market Reflecting a CAGR of 19.1% CAGR 2012-2017
The increasing birth rate in China has proven to be a boon for the country’s baby diaper’s market. To provide a comprehensive analysis of the growth trajectory exhibited by the China baby diapers market and study the impact of the dynamic regulatory policies on the market, Transparency Market Research (TMR) has published a report, titled “Baby Diapers Market - China Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2012…
Ecg Device Market Register a CAGR Growth of 4.1% CAGR by 2024
This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population.
ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and…
