AI in the renewable energy market is anticipated to grow at a CAGR of 24.8% during the forecast period (2023-2030). With growing efforts to promote the renewable energy sector from private and public organizations globally, the demand for Artificial Intelligence (AI) based solutions in the renewable energy sector is also growing. According to the 2023 Renewable Energy Capacity Highlights by International Renewable Energy Agency, global renewable energy capacity has grown by 9.6% during 2022 to 3,347GW. With growing energy demand, private and public organizations are continuously looking to improve overall renewable energy systems. AI algorithms can analyze vast amounts of data from sensors, weather forecasts, and other sources to optimize the performance of renewable energy systems. Apart from this, AI is also used to improve energy storage and management by predicting energy demand and supply. Apart from this, AI is also used to improve overall operational efficiency by applying predictive maintenance, data analytics, and smart grid management which can automate tasks and reduce errors.
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The global AI in the renewable energy market is segmented by deployment type, end-user, application, and energy type. In deployment type, the market is further segmented into on-premises and cloud-based deployment. By end-user, the market is sub-segmented into utilities, residential, commercial, or industrial users. By application, the market is sub-segmented into demand forecasting, safety and security, predictive maintenance, and other applications such as energy storage, operational efficiency, and optimization. By energy type, the market is sub-segmented into solar energy, wind energy, hydroelectric energy, and other energy types such as geothermal energy, bioenergy, and ocean energy.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global AI in Renewable Energy Market Report Segment
By Deployment Type
- On-premises
- Cloud
By End-User
- Utilities
- Residential
- Commercial or industrial
By Application
- Demand Forecasting
- Safety and Security
- Predictive Maintenance
- Others (Energy storage, Operational efficiency, and optimization)
By Energy type
- Solar Energy
- Wind Energy
- Hydroelectric Energy
- Others (geothermal energy, bioenergy, and ocean energy)
Global AI in Renewable Energy Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the AI in the renewable energy market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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