AI in energy management market has reached a new level in utility and applications that are beyond the expectations owing to advanced engineering. AI is backed by advanced machine learning (AML) along with deep learning algorithms (DLA) and advanced neural network (ANN). AI linked with energy management can handle gigabyte and petabyte of structured, semi-structured, and unstructured data. AI in energy management has been capable enough to identify regular patterns of consumers, making predictions and also provide suitable recommendations based on the understanding of the data. This intelligence system is being harnessed to develop smart applications that not only identify the patterns of energy consumption, however, also take suitable actions using AI technology.
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AI is one of the newest and innovative technological trends that is transforming almost every business segment across the globe. There is a burden on the government to reduce carbon emissions and to increase energy production by alternative sources such as solar energy, water energy, thermal energy, and wind energy. The increasing demand for energy is also a major concern not only for the consumers but also for industries as the sources of energy are limited owing to the increasing demand day by day. In short, there is a global demand for a cost-effective, reliable, and efficient source of energy. Thus, the use of AI to cater to the increasing demand for energy is significantly driving AI in energy management market.
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Furthermore, the global AI in energy management market consists of several market players which are providing AI technology in the energy management sector to cater to a wide range of customers across the globe. Some of the key market players include Google LLC, Stem Inc., Hazama Ando Corp., Verdigris Technologies, Inc., Raycatch Ltd., HST Solar, and so on. These players adopt various strategies in order to remain competitive in the global market. Some of the strategies followed by market players include mergers and acquisitions, product offering expansion, geographical expansion, and partnerships and collaborations.
Global AI (Artificial Intelligence) in Energy Management Market- Segmentation
By Product Type
- Cloud
- On-Premises
By End-User
- Manufacturing
- Educational Facilities
- Healthcare
- Others (Enterprises)
By Application
- Renewable Management
- Demand Management
- Infrastructure Management
Global AI (Artificial Intelligence) in Energy Management Market- Regions
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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