• 1-614-588-8538 (Ext: 101)
  • US Toll Free
Artificial Intelligence Poised to Impact the Energy and Utilities Market

Published By : IndustryARC | Published On : 2018-09-24
Artificial intelligence (AI) is an extent of computer technology that highlights the formation of intelligent machines that work and react like humans. The energy and utility sector involves in production and distribution of energy constitutes of oil and gas, power generation and others. As technologies are getting advanced, the energy and utility sector is experiencing a rapid change in price collision and energy storing technologies. Artificial intelligence creates drastic changes in the energy and utility sectors. The effects of AI technology can be seen in their applications such as smart autonomous grid, energy distribution system and so on.  Heavy investment is one of the biggest challenge hindering the growth of this technology in energy and utilities sector.  

Browse 49 Market Tables, 20 Figures and an in-depth TOC on “Artificial Intelligence Market In Energy & Utilities (2018 - 2023)

Lack of computing power is another delinquent faced by the industries. In the energy industry, big machines and controllers are deployed. These machines and controllers needs to be integrated with machine learning and deep learning techniques. This will further help machines to learn and understand the complex task. Once these techniques are integrated with the applications, they will be involved in lot of calculations which further requires high processing power and high skilled technicians to control these machines. This further add up to the cost of ownership.
To access / purchase the full report browse the link below

AI can be integrated with all the cycles of electricity i.e. from generation to transmission and energy distribution to the end users. The autonomous energy grid is the new technology which is self-organized and can control itself by employing advanced AI machine learning techniques, and simulate to create resilient, useful, and affordable optimizing energy systems. NREL (National Renewable Energy Laboratories) is working to develop these energy grids that can be optimized for secure, resilient, and economic operations. This technology will change the whole scenario in which the energy is generated and distributed. AI will mark the paradigm shift in energy and utilities market.

Energy and utilities sectors are innovating their products with the help of AI technology. NextEra Energy invested in machine learning based wind projects in U.S. The project is initiated to avoid any power fluctuations in nearby areas. Duke Energy implemented power plants over some areas in the U.S by converging the Industrial IOT and AI system to predict and analyze power failure. There are some other key players, such as Southern Company and Dominion Resources. Southern Company started its project to save energy consumption as they implemented AI system to predict and provide the amount of energy required in specific areas. Dominion Resources are focused towards grid analytics and control with the help of machine learning.
Talk to one of our sales representative about the full report by providing your details in the below link:

Emerging with different technologies such as distributed energy resources and blockchain. AI have potential to deliver the active management which is the requirement of the future. Powerful AI will have that much capability to balance grids, demands, negotiate actions, self-healing and facilitating the host of new products and services. Siemens is designing self-sufficient smart autonomous microgrid system in Finland. Currently, the investment on this project is not predicted, but concerning about renewable energy and new technology, the Ministry of Economic Affairs and Employment (MEAE) gone through their projects and taken their investments in granted. 

Browse Related Reports:
  • Artificial Intelligence Market In Education: By Deployment (on Cloud, On Premises); By Machine Learning (Unsupervised, Supervised, Reinforced, Semi supervised, Deep learning, Others );By Application (ITS, smart content, virtual facilitator and learning environment, personalized training, administration work, grading, others);By Grade (K-12, Higher, Corporate training, Non-degree certification); By End User(Educational Institutes, Publication house, Online course, Computer Based Test, Virtual Learning Environment); By Geography - Forecast (2018-2023)

About IndustryARC:

IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.

We look forward to support the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.

Contact Us:
Mr. Venkateshwar Reddy
Business Development Manager 
Contact Sales: 1-614-588-8538 (Ext-101)
Connect with us on LinkedIn - https://www.linkedin.com/company/industryarc