What is AI in Renewable Energy?
Artificial intelligence (AI) is a branch of computer science that focuses on the creation of intelligent machines that function and react in the same way that humans do. Furthermore, when advanced technologies are considered, AI technology generates drastic changes and consequences in the energy and utility markets, which can be seen in applications such as smart automated grids and energy distribution systems. One of the most significant impediments to the growth of this technology in the energy and utility sector is a high investment. This industry is responsible for the production and distribution of energy products such as oil and gas, as well as electricity generation.
|Unit||Value (USD Million)|
|Key Companies Profiled||Alpiq (Switzerland), SmartCloud Inc. (United States), General Electric (United States), Siemens AG (Germany), Hazama Ando Corporation (Japan), ATOS SE (France), AppOrchid Inc. (United States), Zen Robotics Ltd. (Finland), Origami Energy Ltd. (United Kingdom) and Flex Ltd. (Singapore)|
The market study is broken down, by Application (Robotics, Renewables Management, Demand forecasting, Safety & Security, Infrastructure and Others) and major geographies with country level break-up.
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analysts at AMA Research estimates that Manufacturers from United States will contribute to the maximum growth of Global AI in Renewable Energy market throughout the predicted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Alpiq (Switzerland), SmartCloud Inc. (United States), General Electric (United States), Siemens AG (Germany), Hazama Ando Corporation (Japan), ATOS SE (France), AppOrchid Inc. (United States), Zen Robotics Ltd. (Finland), Origami Energy Ltd. (United Kingdom) and Flex Ltd. (Singapore) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global AI in Renewable Energy market by Type, Application and Region.
On the basis of geography, the market of AI in Renewable Energy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Component Type, the sub-segment i.e. Solutions will boost the AI in Renewable Energy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. On-premise will boost the AI in Renewable Energy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Energy Transmission will boost the AI in Renewable Energy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In May 2022- Citrine Informatics, the top artificial intelligence service provider for materials development, announced a partnership with Ubiquitous Energy, a next-generation technology firm that delivers totally transparent solar solutions. Ubiquitous Energy will use the Citrine Platform to accelerate the development and implementation of its unique transparent solar materials using AI-driven materials discovery.
- The growing demand for artificial intelligence (AI) in the renewable energy sector is the digitalization of the energy sector
- The growing importance of clean and green energy is maybe boosting the growth of artificial intelligence (AI) in renewable energy
- Growing demand for electricity in emerging and established regions
- The growing need for smarter energy grids is also driving the growth and development of artificial intelligence (AI) in renewable energy
- Growing demand for renewable energy
- The growing adoption of artificial intelligence-based smart home solutions is predicted to promote artificial intelligence adoption in the renewable energy sector
- Rising government initiatives in developed and developing nations for the expansion of renewable energy
- Rising carbon emissions and greenhouse gases emissions are also boosting the growth of the renewable energy sector
- The COVID-19 pandemic had drastic and significant impacts on the growth of the renewable energy sector
- Technology governance will be needed to democratize access, encourage innovation and ensure resilient electricity sources
Key Target AudienceManufactures, Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as Alpiq (Switzerland), SmartCloud Inc. (United States), General Electric (United States), Siemens AG (Germany), Hazama Ando Corporation (Japan), ATOS SE (France), AppOrchid Inc. (United States), Zen Robotics Ltd. (Finland), Origami Energy Ltd. (United Kingdom) and Flex Ltd. (Singapore) etc.
2. Can we have customized study for AI in Renewable Energy Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of AI in Renewable Energy Market by 2027?
Analysts at AMA estimates AI in Renewable Energy Market to reach USD Million by 2027.