The generative ai in energy global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Generative AI In Energy Market, 2024 report by The Business Research Company
offers comprehensive insights into the current state of the market and
highlights future growth opportunities.
Market Size -
The generative AI in energy market size has grown exponentially in recent
years. It will grow from $0.75 billion in 2023 to $0.95 billion in 2024 at a
compound annual growth rate (CAGR) of 26.3%. The growth in the historic period
can be attributed to the rise of renewable energy sources, demand forecasting,
increasing energy storage systems, demand response optimization, and increasing
risk management and resilience.
The generative AI in energy market size is expected to see exponential growth
in the next few years. It will grow to $2.43 billion in 2028 at a compound
annual growth rate (CAGR) of 26.5%. The growth in the forecast period can be
attributed to increasing accuracy, demand for improved electricity
distribution, increasing focus on customer engagement, increasing adoption of
solar and wind energy, and rising asset management. Major trends in the
forecast period include real-time forecasting, dynamic adaptation and
optimization, enhanced predictive analytics, integration of advanced data
sources, predictive maintenance and asset management, and smart grid
management.
Order your report now for swift delivery @
https://www.thebusinessresearchcompany.com/report/generative-ai-in-energy-global-market-report
Scope Of Generative AI In Energy Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Generative AI In Energy Market Overview
Market Drivers -
The increasing solar electricity generation is expected to propel the growth of
generative AI in energy market going forward. Solar electricity generation
converts sunlight into electricity using photovoltaic (PV) panels or
concentrated solar power (CSP) systems. The increasing adoption of solar
electricity is driven by the declining costs of solar technology and growing
awareness of its environmental benefits, including reduced carbon emissions
compared to fossil fuels. The integration of solar electricity generation with
generative AI technologies offers significant opportunities to enhance the
efficiency, reliability, and sustainability of energy systems for the
transition towards a cleaner and more resilient energy future. For instance, in
August 2023, according to the Energy Information Administration, a US-based
government agency, in 2022, the United States saw the addition of 10.9
gigawatts (GW) of new utility-scale solar capacity, marking the second-largest
increase in a single year, trailing only the record-setting 13.5 GW added in
2021. Additionally, the country added a record-breaking 6.4 GW of new
small-scale solar capacity in 2022, representing a 17% increase compared to the
5.5 GW added in 2021. Therefore, increasing solar electricity generation is
driving generative AI in energy market.
Market Trends -
Major companies operating in generative AI in the energy market are focused on
developing innovative products such as real-time asset performance management
to optimize energy production, distribution, and consumption processes.
Real-time asset performance management refers to monitoring, analyzing, and
optimizing the performance of assets, such as machinery, equipment, or
infrastructure, in real-time or near real-time. For instance, in April 2024,
Databricks Inc., a US-based global data, analytics, and artificial intelligence
company, launched the data intelligence platform for energy. This unified
platform brings the power of AI to data and people in the energy sector. The
platform addresses critical industry challenges through real-time asset
performance management, renewable energy forecasting, and grid optimization,
empowering organizations to optimize energy infrastructure and mitigate market
volatility. The Databricks data intelligence platform is built on a lakehouse
architecture to provide an open, unified foundation for all data and
governance. It is powered by a data intelligence engine that understands the
uniqueness of data.
The generative ai in energy market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Application: Demand Forecasting, Renewable Energy Output Forecasting,
Grid Management And Optimization, Energy Trading And Pricing, Customer
Offerings, Energy Storage Optimization, Other Applications
3) By End User: Energy Transmission, Energy Generation, Energy Distribution,
Utilities, Other End Users
Get an inside scoop of the generative ai in energy market, Request now for
Sample Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=15183&type=smp
Regional Insights -
North America was the largest region in the generative AI in energy market in
2023. Asia-Pacific is expected to be the fastest-growing region in the forecast
period. The regions covered in the generative AI in energy market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
Key Companies -
Major companies operating in the generative AI in energy market report are
<b>Google LLC; Microsoft Corporation; Engie SA; Enel Green Power S.p.A.;
Huawei Technologies Co. Ltd; Amazon Web Services Inc; Siemens AG; General
Electric Company; Intel Corporation; International Business Machines
Corporation; Deloitte Touche Tohmatsu Limited; Cisco Systems Inc; Schneider
Electric SE; Honeywell International Inc.; Flex Ltd; ABB Ltd; Duke Energy
Corporation; Nvidia Corporation; Atos SE; Zen Robotics Ltd; Freshworks Inc.; C3
AI Inc; Databricks Inc; AppOrchid Inc; Verdigris Technologies; Ecube Labs Co.
Ltd; Bidgely Inc </b>
Table of Contents
1. Executive Summary
2. Generative AI In Energy Market Report Structure
3. Generative AI In Energy Market Trends And Strategies
4. Generative AI In Energy Market – Macro Economic Scenario
5. Generative AI In Energy Market Size And Growth
…..
27. Generative AI In Energy Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model:
https://www.thebusinessresearchcompany.com/global-market-model
No comments:
Post a Comment