LONDON, Nov. 20, 2017 /PRNewswire/ — Artificial Intelligence (AI) is described as the ability of a machine to perform real time tasks at a level of human expert. Energy and utilities sector constitute for the industries such as petroleum, Oil & Gas, power generation and others involved in the production and distribution of energy.

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Owing to the increased competition and advancements in technology the energy and utility sector is experiencing glitches such as rapid changes in energy storing technologies, price conflicts, regulations and distribution complexities which are expected to be overcome by interaction with technologies such as AI and Machine learning. The deployment of AI into energy and utilities sector resulted in drastic changes in energy transition including distributed energy resources, advanced devices for auto detection of demand and precise sensors on energy infrastructure.

This report on Artificial Intelligence in Energy & Utilities segmented the market by type and application. The market is further segmented by type as products and services that are specific in providing AI to energy and utilities sector. AI is used in various applications such as Infrastructure management, demand management, cybersecurity of systems and others.

The market is segmented by geography as Americas, Europe, Asia Pacific and Rest of the World. Americas region holds major share on the market owing to large energy production and utilization in U.S. and Brazil. However, APAC is projected to grow at a faster rate driven by the increasing power demand in China and India.

Sample Companies Profiled in this Report are:
Alpiq (Switzerland),
SmartCloud, Inc. (U.S.),
General Electric (U.S.),
Siemens AG (Germany)
10+.

The surge in demand for power and need for information grid in power generation is the major driving factor for the market. The positive effects posed by AI including grid balancing, demand management and other processes along with effective utility operations is also driving the market to grow at a healthy rate. However, the environmental issues and radiation effects on people coupled with energy sector is hindering the growth of the market.

The methodology followed in estimating the Artificial Intelligence market in Energy & Utilities involved demand in various applications. The segmentations have been cross-mapped extensively to understand various market dynamics.

Simultaneously, the companies involved at integration and distribution level were also studied from the perspective of their services, geographical presence, annual turnover and few other parameters to substantiate the estimations. All these estimations were further validated through primary research and industry experts.

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