This research study involved the extensive use of secondary sources, directories, and databases, such as Dun & Bradstreet (D&B) Hoovers and Bloomberg BusinessWeek, to identify and collect information useful for a technical, market-oriented, and commercial study of the AI in energy market. The primary sources have been mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, service providers, technology developers, alliances, and organizations related to all segments of the value chain of this market. In-depth interviews have been conducted with various primary respondents, including key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information.
Secondary Research
The market for companies offering AI in energy solution and services to different end users has been estimated and projected based on the secondary data made available through paid and unpaid sources and by analyzing their product portfolios in the ecosystem of the AI in energy market. In the secondary research process, various sources such as IEEE Xplore, International Journal of Science and Research Archive (IJSRA), and Frontiers have been referred to for identifying and collecting information for this study on the AI in energy market. The secondary sources included annual reports, press releases, investor presentations of companies, white papers, journals, certified publications, and articles by recognized authors, directories, and databases. Secondary research has been mainly used to obtain essential information about the supply chain of the market, the total pool of key players, market classification, segmentation according to industry trends to the bottommost level, regional markets, and key developments from both market- and technology-oriented perspectives that primary sources have further validated.
Primary Research
In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, including Chief Experience Officers (CXOs); Vice Presidents (VPs); directors from business development, marketing, and product development/innovation teams; related critical executives from AI in energy service vendors, system Integrators, professional service providers, and industry associations; and key opinion leaders. Primary interviews were conducted to gather insights, such as market statistics, revenue data collected from services, market breakups, market size estimations, market forecasts, and data triangulation. Primary research also helped in understanding various trends related to technologies, applications, deployments, and regions. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Strategy Officers (CSOs), and end users using AI in energy services, were interviewed to understand the buyer’s perspective on suppliers, products, service providers, and their current usage of AI in energy services which would impact the overall AI in energy market.
Note: Others include sales managers, marketing managers, and product managers.
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Market Size Estimation
Multiple approaches were adopted to estimate and forecast the size of the AI in energy market. The first approach involves estimating market size by summing up the revenue generated by companies through the sale of AI in energy solution and services.
Both top-down and bottom-up approaches were used to estimate and validate the total size of the AI in energy market. These methods were extensively used to estimate the size of various segments in the market. The research methodology used to estimate the market size includes the following:
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Key players in the market have been identified through extensive secondary research.
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In terms of value, the industry’s supply chain and market size have been determined through primary and secondary research processes.
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All percentage shares, splits, and breakups have been determined using secondary sources and verified through primary sources.
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After arriving at the overall market size, the AI in energy market was divided into several segments and subsegments.
Artificial Intelligence in Energy Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the overall market size, the AI in energy market was divided into several segments and subsegments.
The data was triangulated by studying various factors and trends from the demand and supply sides. Along with data triangulation and market breakdown, the market size was validated by the top-down and bottom-up approaches.
Market Definition
The AI in energy market encompasses the application of artificial intelligence technologies to optimize various aspects of the energy sector, including generation, transmission, distribution, and consumption. It leverages advanced tools like machine learning, predictive analytics, computer vision, and natural language processing to enhance efficiency, reduce costs, and support sustainability goals. By integrating AI, the energy industry can address challenges like energy demand forecasting, grid stability, renewable energy management, and risk mitigation. This market drives innovation in smart energy solutions, enabling the transition to cleaner and more decentralized energy systems while improving operational reliability and environmental impact.
Stakeholders
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Energy Companies
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Technology Providers
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Governments and Regulatory Bodies
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Energy Consumers (Industrial, Commercial, Residential)
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Research and Academic Institutions
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AI and Data Analytics Firms
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Utilities and Grid Operators
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Energy Storage Solution Providers
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Renewable Energy Developers
Report Objectives
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To determine, segment, and forecast the AI in energy market based on end users, offerings, type, and region in terms of value
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To forecast the segment’s size with respect to five main regions: North America, Europe, Asia Pacific (Asia Pacific), Latin America, and the Middle East & Africa (Middle East & Africa)
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To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market
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To study the complete value chain and related industry segments and perform a value chain analysis
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To strategically analyze macro and micro-markets with respect to individual growth trends, prospects, and contributions to the market
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To analyze industry trends, regulatory landscape, and patents & innovations
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To analyze opportunities for stakeholders by identifying the high-growth segments
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To track and analyze competitive developments, such as agreements, partnerships, collaborations, and R&D activities
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Country-wise information
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Analysis for additional countries (up to five)
Company Information
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Detailed analysis and profiling of additional market players (up to 5)
HIGHEST CAGR MARKET 2024-2030
CANADA FASTEST GROWING MARKET IN THE REGION
Growth opportunities and latent adjacency in Artificial Intelligence in Energy Market