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Artificial Intelligence Poised to Impact the Energy and Utilities Market

Artificial intelligence creates drastic changes in the energy and utility sectors.

HYDERABAD, TELANGANA, INDIA, August 30, 2018 / -- 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.

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.

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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.

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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.

Artificial Intelligence in Energy and Utilities market report is segmented as mentioned below
1. Artificial Intelligence in Energy and Utilities – By Technology
1.1. Introduction
1.2. Machine Learning
1.3. Natural Language Processing
1.4. Computer Vision
1.5. Others

2. Artificial Intelligence in Energy & Utilities – Types
2.1. Narrow Artificial Intelligence
2.2. Artificial General Intelligence
2.3. Artificial Super Intelligence

3. Artificial Intelligence in Energy and Utilities – Categories
3.1. Renewable Management
3.1.1. Renewable Forecasting
3.1.2. Equipment Maintenance
3.1.3. Wind and solar efficiency
3.1.4. Storage Analysis
3.2. Demand Management
3.2.1. Energy Efficiency
3.2.2. Energy Management Systems
3.2.3. DR Management
3.2.4. DR Game Theory
3.3. Infrastructure Management
3.3.1. Digital Assest Management
3.3.2. Equipment O&M
3.3.3. Generation Management

4. Artificial intelligence market in energy and utilities – Applications
4.1. Introduction
4.2. Energy Generation
4.3. Energy Transmission
4.4. Energy Distribution
4.5. Utilities
4.5.1. Load Forecasting
4.5.2. Yield Optimizing
4.5.3. Predictive Maintenance
4.5.4. Demand Management
4.5.5. Live Metering

5. Artificial Intelligence in Energy and Utilities Market By Entropy
6. Artificial Intelligence in Energy and Utilities Market By Geography

Companies Cited/Interviewed/Referenced
SmartCloud Inc
General electric
Siemens AG
Hazama Ando Corporation
AppOrchid Inc.
Zen Robotics
Royal Dutch Shell
China petroleum and chemical corp.
NextEra Energy
Duke energy
Company 20+

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What can you expect from the report?
The Artificial Intelligence Market In Energy & Utilities Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis ( By Revenue & Volume )
12. Country level Analysis (15+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis

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