Global Artificial Intelligence (AI) in Energy Market

Focus on Product Type (Software, AI- as-a-Service, Hardware, Support Services), Industry (Oil & Gas, Power), Applications (Fleet & Asset, Demand Response, Precision Drilling, Renewable Management), Funding – Analysis and Forecast, 2019-2024

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Report Description

Global Artificial Intelligence (AI) in Energy Market is Anticipated to Reach $7.79 Billion by 2024.

Scope of the Global Artificial Intelligence (AI) in Energy Market 

The global artificial intelligence in energy market research provides a detailed perspective regarding the product offerings, applications, value, and estimation, among others. The purpose of this market analysis is to examine the artificial intelligence in energy in terms of factors driving the market, trends, technological developments, and funding scenario, among others. 

The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contribution of the key players operating in the market. The artificial intelligence in energy market report is a compilation of different segments including market breakdown by product offerings, industry stream, and region. 

Market Segmentation

The global artificial intelligence in energy market comprises oil & gas and power industries. The oil & gas industry has been further segmented into upstream, midstream, and downstream. Similarly, for power industry, generation, transmission, and distribution are the three sectors across the supply chain.  Upstream segment in the oil & gas industry and distribution segment in the power industry accounted for the largest share in the market as a result of the increasing necessity for efficient oil & gas exploration and growing demand for continuous supply of electricity. However, during the forecast period, the generation segment in the power industry is expected to display the highest growth, owing to the increasing focus toward decentralized power generation. 

The emerging trends of the AI in energy market vary across different regions. In 2018, North America was at the forefront of the market, with huge market concentration in the U.S. During the forecast period, the Asia-Pacific region is expected to flourish as one of the most lucrative markets for AI in energy. Rising demand for decentralized power generation drive the growth of global AI in energy market. 

Key Companies in the Artificial Intelligence (AI) in Energy Market

The prominent players in the artificial intelligence in energy market include IBM Corporation, Microsoft Corporation, Accenture Plc, Amazon Web Services, Inc., Intel Corporation, Oracle Corporation, SAP SE, Huawei Technology, Cisco Systems, General Electric Company, Rockwell Automation, C3.ai, AutoGrid Systems, HCL Technologies, and Wipro Limited.

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Key Questions Answered in this Report:

What are the key trends and opportunities in the market pertaining to AI in energy?

•    What are the key trends and opportunities in the market pertaining to AI in energy?
•    What is the estimated global AI in energy market size in terms of revenue for the time period 2018-2024, and what is the expected compound annual growth rate (CAGR) during the forecast period 2019-2024? 
•    What is the expected future outlook and revenue to be generated by the different types of product offerings including software, hardware, AI-as-a-Service, and support services?
•    What is the estimated revenue generated by AI solutions in both power and oil & gas industries for the time period 2018-2024?
•    What is the estimated revenue generated by AI solutions in different power industry streams such as generation, transmission, and distribution for the time period 2018-2014? 
•    What is the estimated revenue generated by AI solutions in different oil & gas industry streams such as upstream, midstream, and downstream for the time period 2018-2024? 
•    What is the estimated revenue generated by AI solutions in different applications of power and oil & gas industry for the time period 2018-2024? 
•    What is the current market size and opportunities of AI solutions in energy industry across different regions including North America, Europe, Asia-Pacific, and Rest-of-the-World?
•    What are the major driving forces that are expected to increase the demand for the global AI in energy market during the forecast period?
•    What are the major restraints inhibiting the growth of the global AI in energy market?
•    What kind of new strategies are being adopted by the existing market players to expand their market position in the industry?
•    What is the competitive strength of the key players in the AI in energy market on the basis of analysis of their recent developments, product offerings, and regional presence?
•    How is the competitive benchmarking of the key AI focused IT companies in the energy market on the basis of analysis of their market coverage and market potential?
•    What is the funding and investment landscape in the global AI in energy market?
•    Which type of players and stakeholders operate in the market ecosystem of AI in energy, and what are their significance in the global market?
•    Which are the leading consortiums and associations in the global AI in energy market, and what is their role in the market?
•    How does the regulatory landscape differ in different regions for AI in energy?

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Market Overview

Global Artificial Intelligence (AI) in Energy Market is Anticipated to Reach $7.79 Billion by 2024.

The increasing demand for energy efficiency across the globe has propelled the need for artificial intelligence in energy. Moreover, there is an increased concern for decentralized power generators in the electricity distribution supply chain to reduce the electricity demand. The growth of the market is likely to be encouraged by the rise of battery storage system, leading to congestion and complexity within the grid.  

Expert Quote

"Fleet and asset management is one of the prominent applications of the AI in energy market. The fleet assets at remote locations are difficult to monitor and control. Any failure of assets without prior intimation leads to an increase in operational downtime. Thus, the energy industry is adopting AI technology to monitor and control the fleet assets across the supply chain. The AI-powered hardware components integrated with the AI software ensures efficient operation of oil & gas assets using vibration analytics, thereby ensuring a safe working atmosphere. An AI-enabled fleet and asset monitoring solution using computer vision provides visibility across the functioning of the equipment, which further helps in investigating the asset performance.”

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Table of Contents

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         1.1    Market Drivers
                  1.1.1    Demand for Increasing Operational Efficiency to Fulfil Energy Requirement
                  1.1.2    Significant Increase in Demand for Decentralized Power Generation
                  1.1.3    Growing Need for Battery Storage Systems
         1.2    Market Restraints
                  1.2.1    High Cost of Deployment
                  1.2.2    Privacy and Security Risk
         1.3    Market Opportunities
                  1.3.1    Rising Deployment of Smart Grids
                  1.3.2    Growth of Establishment of Smart Buildings

         2.1    Key Market Developments and Strategies
                  2.1.1    Partnerships, Collaborations, and Joint Ventures
                  2.1.2    New Product Launches and Developments
                  2.1.3    Business Expansions and Contracts
                  2.1.4    Mergers and Acquisitions
                  2.1.5    Others (Awards and Recognitions)
         2.2    Competitive Benchmarking of IT Solution Providers in AI in Energy Market

         3.1    Artificial Intelligence in Energy: Market Ecosystem
         3.2    Artificial Intelligence in Energy: Technology Ecosystem
                  3.2.1    AI Technology Stack
                              3.2.1.1    AI-Powered Technologies
                                             3.2.1.1.1    Machine Learning
                                             3.2.1.1.2    Computer Vision
                                             3.2.1.1.3    Deep Learning
                                             3.2.1.1.4    Speech Recognition
                                             3.2.1.1.5    Other Technologies
                              3.2.1.2    Hardware
                                             3.2.1.2.1    Memory
                                             3.2.1.2.2    Storage
                                             3.2.1.2.3    Logic
                                             3.2.1.2.4    Networking
                              3.2.1.3    Others
                  3.2.2    AI Technology Classifications
                              3.2.2.1    AI Technology (by Functionality)
                                             3.2.2.1.1    Reactive Machines
                                             3.2.2.1.2    Limited Memory
                                             3.2.2.1.3    Theory of Mind
                                             3.2.2.1.4    Self-Awareness
                              3.2.2.2    AI Technology (by Capability)
                                             3.2.2.2.1    Weak AI
                                             3.2.2.2.2    General AI
                                             3.2.2.2.3    Strong AI
                  3.2.3    Key AI Use Cases in Energy
                              3.2.3.1    Predictive Analytics
                              3.2.3.2    Drones/UAVs
                              3.2.3.3    Intelligent Energy Storage
                              3.2.3.4    Variable Renewable Energy Integration
         3.3    Investment and Funding Landscape
         3.4    Key Consortiums and Associations

         4.1    Market Overview
         4.2    Oil & Gas Industry
                  4.2.1    Upstream
                  4.2.2    Midstream
                  4.2.3    Downstream
         4.3    Power Industry
                  4.3.1    Generation
                  4.3.2    Transmission
                  4.3.3    Distribution

         5.1    Market Overview
         5.2    Software
         5.3    Hardware
         5.4    AI-as-a-Service
         5.5    Support Services

          6.1    Market Overview
          6.2    Oil & Gas Applications
                   6.2.1    Fleet and Asset Management
                   6.2.2    Precision Drilling
                   6.2.3    Demand Forecasting
                   6.2.4    Others
          6.3    Power Applications
                   6.3.1    Renewable Energy Management
                   6.3.2    Infrastructure Management
                   6.3.3    Demand Response Management
                   6.3.4    Others

         7.1    North America
                   7.1.1    North America Artificial Intelligence in Energy Market (by Industry)
                   7.1.2    North America Artificial Intelligence in Energy Market (by Country)
                               7.1.2.1    U.S.
                               7.1.2.2    Canada
                               7.1.2.3    Rest-of-North America
          7.2    Europe
                   7.2.1    Europe Artificial Intelligence in Energy Market (by Industry)
                   7.2.2    Europe Artificial Intelligence in Energy Market (by Country)
                               7.2.2.1    U.K.
                               7.2.2.2    Germany
                               7.2.2.3    France
                               7.2.2.4    Norway
                               7.2.2.5    Rest-of-Europe
          7.3    Asia-Pacific
                   7.3.1    Asia-Pacific Artificial Intelligence in Energy Market (by Industry)
                   7.3.2    Asia-Pacific Artificial Intelligence in Energy Market (by Country)
                               7.3.2.1    China
                               7.3.2.2    Japan
                               7.3.2.3    Australia
                               7.3.2.4    India
                               7.3.2.5    Rest-of-Asia-Pacific
          7.4    Rest-of-the-World (RoW)
                   7.4.1    RoW Artificial Intelligence in Energy Market (by Industry)
                   7.4.2    RoW Artificial Intelligence in Energy Market (by Country)
                               7.4.2.1    Saudi Arabia
                               7.4.2.2    U.A.E
                               7.4.2.3    Brazil
                               7.4.2.4    Rest-of-RoW

         8.1    Overview
         AI Solution Providers
         8.2    Accenture PLC
                   8.2.1    Company Overview
                   8.2.2    Role of Accenture PLC in Artificial Intelligence in Energy Market
                   8.2.3    Financials
                   8.2.4    Key Insights About the Financial Health of the Company
                   8.2.5    SWOT Analysis
          8.3    Amazon Web Services, Inc.
                   8.3.1    Company Overview
                   8.3.2    Role of Amazon Web Services, Inc. in Artificial Intelligence in Energy Market
                   8.3.3    Financials
                   8.3.4    SWOT Analysis
          8.4    AutoGrid Systems, Inc
                   8.4.1    Company Overview
                   8.4.2    Role of AutoGrid Systems, Inc in Artificial Intelligence in Energy Market
                   8.4.3    SWOT Analysis
          8.5    Cisco Systems Inc.
                   8.5.1    Company Overview
                   8.5.2    Role of Cisco Systems Inc. in Global Artificial Intelligence in Energy Market
                   8.5.3    Financials
                   8.5.4    SWOT Analysis
          8.6    C3 IoT, Inc.
                   8.6.1    Company Overview
                   8.6.2    Role of C3 IoT, Inc. in Artificial Intelligence in Energy Market
                   8.6.3    SWOT Analysis
          8.7    General Electric
                   8.7.1    Company Overview
                   8.7.2    Role of General Electric in Artificial Intelligence in Energy Market
                   8.7.3    Financials
                   8.7.4    Key Insights About the Financial Health of the Company
                   8.7.5    SWOT Analysis
          8.8    HCL Technologies Ltd.
                   8.8.1    Company Overview
                   8.8.2    Role of HCL Technologies Ltd. In Artificial Intelligence in Energy Market
                   8.8.3    Financials
                   8.8.4    SWOT Analysis
          8.9    Huawei Technologies Co., Ltd.
                   8.9.1    Company Overview
                   8.9.2    Role of Huawei Technologies Co., Ltd. in AI in Energy Market
                   8.9.3    Financials
                   8.9.4    SWOT Analysis
         8.10   International Business Machines Corporation (IBM)
                   8.10.1    Company Overview
                   8.10.2    Role of IBM Corporation in Artificial Intelligence in Energy Market
                   8.10.3    Financials
                   8.10.4    Key Insights About the Financial Health of the Company
                   8.10.5    SWOT Analysis
         8.11   Intel Corporation
                   8.11.1    Company Overview
                   8.11.2    Role of Intel Corporation in Artificial Intelligence in Energy Market
                   8.11.3    Financials
                   8.11.4    Key Insights About the Financial Health of the Company
                   8.11.5    SWOT Analysis
         8.12   Kellton Tech Solutions Ltd.
                   8.12.1    Company Overview
                   8.12.2    Role of Kellton Tech Solutions Ltd. in Artificial Intelligence in Energy Market
                   8.12.3    Financials
                   8.12.4    SWOT Analysis
         8.13   Microsoft Corporation
                   8.13.1    Company Overview
                   8.13.2    Role of Microsoft Corporation in Artificial Intelligence in Energy Market
                   8.13.3    Financials
                   8.13.4    Key Insights About the Financial Health of the Company
                   8.13.5    SWOT Analysis
         8.14   Oracle Corporation
                   8.14.1    Company Overview
                   8.14.2    Role of Oracle Corporation in Artificial Intelligence in Energy Market
                   8.14.3    Financials
                   8.14.4    Key Insights About the Financial Health of the Company
                   8.14.5    SWOT Analysis
         8.15   Rockwell Automation Inc.
                   8.15.1    Company Overview
                   8.15.2    Role of Rockwell Automation Inc. in Artificial Intelligence in Energy Market
                   8.15.3    Financials
                   8.15.4    Key Insights About the Financial Health of the Company
                   8.15.5    SWOT Analysis
         8.16   SAP SE
                   8.16.1    Company Overview
                   8.16.2    Role of SAP SE in Artificial Intelligence in Energy Market
                   8.16.3    Financials
                   8.16.4    SWOT Analysis
         8.17   Wipro Limited
                   8.17.1    Company Overview
                   8.17.2    Role of Wipro Limited in Artificial Intelligence in Energy Market
                   8.17.3    Financials
                   8.17.4    SWOT Analysis
        Other Key Companies
        8.18    ABB Ltd.
                   8.18.1    Company Overview
                   8.18.2    Role of ABB Ltd. In Artificial Intelligence in Energy Market
         8.19   Actility S.A.
                   8.19.1 Company Overview
                   8.19.2 Role of Actility S.A. in Artificial Intelligence in Energy Market
         8.20   Enel X North America, Inc.
                   8.20.1    Company Overview
                   8.20.2    Role of Enel X North America, Inc. in Artificial Intelligence in Energy Market
        8.21    Equinor ASA
                   8.21.1    Company Overview
                   8.21.2    Role of Equinor ASA in Artificial Intelligence in Energy Market
         8.22   Ingersoll Rand Plc
                   8.22.1    Company Overview
                   8.22.2    Role of Ingersoll Rand Plc in the Artificial Intelligence in Energy Market
         8.23   Royal Dutch Shell PLC
                   8.23.1    Company Overview
                   8.23.2    Role of Royal Dutch Shell PLC in Artificial Intelligence in Energy Market
         8.24   Siemens AG
                   8.24.1    Company Overview
                   8.24.2    Role of Siemens AG in Artificial Intelligence in Energy Market
         8.25   Schneider Electric
                   8.25.1    Company Overview
                   8.25.2    Role of Schneider Electric in Artificial Intelligence in Energy Market
        8.26    Schlumberger Limited
                   8.26.1    Company Overview
                   8.26.2    Role of Schlumberger Limited in Artificial Intelligence in Energy Market
         8.27   Tokyo Electric Power Company
                   8.27.1    Company Overview
                   8.27.2    Role of Tokyo Electric Power Company in Artificial Intelligence in Energy Market

         9.1    Report Scope
         9.2    Market Research Methodology
                  9.2.1    Assumptions
                  9.2.2    Limitations
                  9.2.3    Primary Data Sources
                  9.2.4    Secondary Data Sources
                  9.2.5    Data Triangulation
                  9.2.6    Market Estimation and Forecast

           10.1    Annexure A : List of Key Strategies and Developments in Global Artificial Intelligence in Energy Market (Jan 2017-Sep 2019)

Table 1.1:    Impact Analysis of Drivers
Table 1.2:    List of Investors Promoting Decentralized Energy System
Table 1.3:    Applications of Battery Storage Systems in the Power Supply Network
Table 1.4:    Impact Analysis of Restraints
Table 1.5:    Initiatives for the Advancement of the U.S. Grid Network
Table 1.6:    Advantages and Growth Enablers of Smart Buildings
Table 3.1:    Applications of Energy Storage Systems in the Power Supply Network
Table 3.2:    Regulatory Policies to Promote Variable Renewable Energy
Table 3.3:    Key Consortiums and Associations in Global AI in Energy Market
Table 4.1:    Global Artificial Intelligence in Energy Market (by Industry Stream), $Million, 2018-2024
Table 4.2:    Global Artificial Intelligence in Oil & Gas Market (by Industry Stream), 2018-2024, $Million
Table 4.3:    Some of the AI Solution Providers in the Upstream Sector
Table 4.4:    Key AI Solution Providers in the Downstream Sector
Table 4.5:    Global Artificial Intelligence in the Power Market (by Industry Stream), 2018-2024, $Million
Table 5.1:    Global Artificial Intelligence in Energy Market (by Product Offering), $Million, 2018-2024
Table 5.2:    Key Artificial Intelligence Software Providers
Table 5.3:    Hardware Offering by Key Players in Artificial Intelligence in Energy Market
Table 5.4:    Product Portfolio of the Key Players Providing AIaaS
Table 6.1:    Global Artificial Intelligence in Oil & Gas Market (by Application), $Million 2018-2024
Table 6.2:    Key Companies with AI Products for Fleet and Asset Management in Global AI in Energy Market
Table 6.3:    Key Companies with AI Products for Precision Drilling in Global AI in Energy Market
Table 6.4:    Global Artificial Intelligence in Power Market (by Application), $Million 2018-2024
Table 6.5:    Key Companies with AI Products for Renewable Energy Management in Global AI in Energy Market
Table 6.6:    Features of Demand Response Mechanism
Table 6.7:    Demand Response Programs in the U.S.
Table 7.1:    Global Artificial Intelligence in Energy Market (by Region), 2018-2024, $Million
Table 7.2:    North America in Artificial Intelligence in Energy (by Industry), 2018-2024, $Million
Table 7.3:    North America in Artificial Intelligence in Energy Market (by Country), 2018-2024, $Million
Table 7.4:    Use Cases in the U.S. in AI in Power Industry
Table 7.5:    Recent Developments in the Canada AI in Power and Oil & Gas Industry
Table 7.6:    Europe in Artificial Intelligence in Energy (by Industry), 2018-2024, $Million
Table 7.7:    Europe in Artificial Intelligence in Energy Market (by Country), 2018-2024, $Million
Table 7.8:    Use cases of AI by power utilities in the U.K.
Table 7.9:    Recent Developments in the Germany AI in Power Industry
Table 7.10:    Asia-Pacific Artificial Intelligence in Energy Market (by Industry), 2018-2024, $Million
Table 7.11:    Asia-Pacific Artificial Intelligence in Energy Market (by Country), 2018-2024, $Million
Table 7.12:    Australia Government Initiatives for Energy Conservation
Table 7.13:    Benefits of Stakeholders from Smart Grid
Table 7.14:    RoW Artificial Intelligence in Energy Market (by Industry), 2018-2024, $Million
Table 7.15:    RoW Artificial Intelligence in Energy Market (by Country), 2018-2024, $Million
Table 8.1:    Accenture PLC: Product Portfolio
Table 8.2:    Amazon Web Services, Inc.: Product Portfolio
Table 8.3:    AutoGrid Systems, Inc: Product Portfolio
Table 8.4:    Cisco Systems Inc.: Product Portfolio
Table 8.5:    C3 IoT: Product Portfolio
Table 8.6:    General Electric: Product Portfolio
Table 8.7:    HCL Technologies Ltd.: Product Portfolio
Table 8.8:    Huawei Technologies Co., Ltd.: Product Portfolio
Table 8.9:    IBM Corporation: Product Portfolio
Table 8.10:    Intel Corporation: Product Portfolio
Table 8.11:    Kellton Tech Solutions Ltd: Product Portfolio
Table 8.12:    Microsoft Corporation: Product Portfolio
Table 8.13:    Oracle Corporation: Product Portfolio
Table 8.14:    Rockwell Automation Inc.: Product Portfolio
Table 8.15:    SAP SE: Product Portfolio
Table 8.16:    Schneider Electric: Product Portfolio
Table 8.17:    Enel X North America, Inc.: Product Portfolio
Table 8.18:    Equinor ASA: Product Portfolio
Table 8.19:    Ingersoll Rand Plc: Product Portfolio
Table 8.20:    Schlumberger Limited: Product Portfolio

Figure 1:    Artificial Intelligence in Oil & Gas Industry
Figure 2:    Driving and Restraint Factors in the Global Artificial Intelligence in Energy Market
Figure 3:    Global Artificial Intelligence in Energy Market Snapshot
Figure 4:    Global Artificial Intelligence in Energy (by Product Offering), $Million, 2019 and 2024,
Figure 5:    Global Artificial Intelligence in Energy Market (by Application), $Million, 2019-2024
Figure 6:    Global Artificial Intelligence in Oil & Gas Market (by Industry Stream), $Million, 2019 and 2024
Figure 7:    Global Artificial Intelligence in Power Market (by Industry Stream), $Million, 2019 and 2024
Figure 8:    Regional Artificial Intelligence in Energy Market Snapshot
Figure 1.1:    Market Dynamics
Figure 1.2:    Global Energy Demand Projection, 2015-2040
Figure 2.1:    Market Strategies Adopted by the Key Players (January 2017-September 2019)
Figure 2.2:    Share of Key Market Strategies and Developments (January  2017-September 2019)
Figure 2.3:    Partnerships, Collaborations, and Joint Ventures Share (by Company)
Figure 2.4:    New Product Launches and Developments Share (by Company)
Figure 2.5:    Business Expansions and Contracts Share (by Company)
Figure 2.6:    Mergers and Acquisitions Share (by Company)
Figure 2.7:    Competitive Benchmarking Matrix
Figure 3.1:    Stakeholders of AI in Energy Market
Figure 3.2:    Process Flow Chart of Power Industry
Figure 3.3:    Process Flow Chart of Oil & Gas Industry
Figure 3.4:    Value Chain of Artificial Intelligence
Figure 3.5:    An Overview of Artificial Intelligence Technology Ecosystem
Figure 3.6:    Types of Artificial Intelligence Technology Based on Capability
Figure 3.7:    Artificial Intelligence in Energy: Key Use Cases
Figure 3.8:    Global Artificial Intelligence in Energy Market: Investment and Funding, November 2016-October 2019
Figure 3.9:    Investment and Funding Landscape Share (by Product Offering), $Million, November 2016-October 2019
Figure 3.10:    Investment and Funding Landscape Share (by Round), $Million
Figure 4.1:    Industry Streams in Global AI in Energy Market
Figure 4.2:    Global Artificial Intelligence in Upstream (in Oil & Gas) Market, 2018-2024
Figure 4.3:    Major Activities in the Midstream Sector
Figure 4.4:    Global Artificial Intelligence in Midstream (in Oil & Gas) Market,  2018-2024
Figure 4.5:    Major Activities in the Downstream Sector
Figure 4.6:    Global Artificial Intelligence in Downstream (in Oil & Gas) Market,  2018-2024
Figure 4.7:    Global Artificial Intelligence in Generation (in Power) Market, 2018-2024
Figure 4.8:    Major Activities in the Transmission Sector
Figure 4.9:    Global Artificial Intelligence in Transmission (in Power) Market,  2018-2024
Figure 4.10:    Global Artificial Intelligence in Distribution (in Power) Market, 2018-2024
Figure 5.1:    Global Artificial Intelligence Software in Energy Market, $Million,  2018-2024
Figure 5.2:    Advantages of Software as a Service (SaaS)
Figure 5.3:    Global Artificial Intelligence Hardware in Energy Market, 2018-2024
Figure 5.4:    Hardware Product Offerings in Global Artificial Intelligence in Energy Market
Figure 5.5:    Advantages of Artificial Intelligence as a Service (AIaaS)
Figure 5.6:    Global AI-as-a-Service in Energy Market, $Million, 2018-2024
Figure 5.7:    Key Artificial Intelligence Support Services in Energy Market
Figure 5.8:    Global Artificial Intelligence Support Services in Energy Market,  2018-2024
Figure 6.1:    Key Applications in Global Artificial Intelligence in Energy Market
Figure 6.2:    Key Applications of Artificial Intelligence in Oil & Gas Industry
Figure 6.3:    Fleet and Asset Management in Global Artificial Intelligence in Oil & Gas Market (by Application), 2018-2024
Figure 6.4:    Precision Drilling in Global Artificial Intelligence in Oil & Gas Market (by Application), 2018-2024
Figure 6.5:    Demand Forecasting in Global Artificial Intelligence in Oil & Gas Market (by Application), 2018-2024
Figure 6.6:    Other Applications in Global Artificial Intelligence in Oil & Gas Market (by Application), 2018-2024
Figure 6.7:    Key Artificial Intelligence Applications in Power Industry
Figure 6.8:    Renewable Energy Management in Global Artificial Intelligence in Power Market (by Application), 2018-2024
Figure 6.9:    Artificial Intelligence based Process for Renewable Energy Forecast
Figure 6.10:    Infrastructure Management in Global Artificial Intelligence in Power Market (by Application), 2018-2024
Figure 6.11:    Demand Response Management in Global Artificial Intelligence in Power Market (by Application), 2018-2024
Figure 6.12:    Other Applications in Global Artificial Intelligence in Power Market (by Application), 2018-2024
Figure 7.1:    Global Artificial Intelligence in Energy Regional Market Snapshot
Figure 7.2:    North America Artificial Intelligence in Energy Market, 2018-2024, $Million
Figure 7.3:    U.S. Electricity Generation (by Sector) in 2018
Figure 7.4:    U.S. Artificial Intelligence in Energy Market, 2018-2024
Figure 7.5:    Canada Artificial Intelligence in Energy Market, 2018-2024
Figure 7.6:    Rest-of-North America Artificial Intelligence in Energy Market, $Million,  2018-2024
Figure 7.7:    Europe Artificial Intelligence in Energy Market, 2018-2024
Figure 7.8:    The U.K. Artificial Intelligence in Energy Market, 2018-2024, $Million
Figure 7.9:    Germany Artificial Intelligence in Energy Market, 2018-2024, $Million
Figure 7.10:    France Artificial Intelligence in Energy Market, 2018-2024, $Million
Figure 7.11:    Norway Artificial Intelligence in Energy Market, 2018-2024, $Million
Figure 7.12:    Rest-of-Europe Artificial Intelligence in Energy Market, 2018-2024, $Million
Figure 7.13:    Asia-Pacific Artificial Intelligence in Energy Market, 2018-2024
Figure 7.14:    China Artificial Intelligence in Energy Market, 2018-2024
Figure 7.15:    Japan Artificial Intelligence in Energy Market, 2018-2024, $Million
Figure 7.16:    Australia Artificial Intelligence in Energy Market, 2018-2024
Figure 7.17:    India Artificial Intelligence in Energy Market, 2018-2024
Figure 7.18:    Rest-of-Asia-Pacific Artificial Intelligence in Energy Market, 2018-2024
Figure 7.19:    RoW Artificial Intelligence in Energy Market, 2018-2024
Figure 7.20:    Saudi Arabia Artificial Intelligence in Energy Market, 2018-2024
Figure 7.21:    U.A.E Artificial Intelligence in Energy Market, 2018-2024
Figure 7.22:    Brazil Artificial Intelligence in Energy Market, 2018-2024
Figure 7.23:    Rest- of- RoW Artificial Intelligence in Energy Market, 2018-2024, $Million
Figure 8.1:    Segmentation of Key Companies Profiled by Type of Company
Figure 8.2:    Accenture PLC: Overall Financials, 2016-2018
Figure 8.3:    Accenture Plc: Net Revenue (by Business Segment), 2016-2018
Figure 8.4:    Accenture PLC: Net Revenue (by Regional Segment), 2016-2018
Figure 8.5:    Research and Development: Accenture PLC – 2016 to 2018
Figure 8.6:    Accenture PLC: SWOT Analysis
Figure 8.7:    Amazon.com, Inc.: Net Revenue (by Business Segment), 2016-2018
Figure 8.8:    Amazon.com, Inc.: SWOT Analysis
Figure 8.9:    AutoGrid Systems, Inc: SWOT Analysis
Figure 8.10:    Cisco Systems Inc.: Overall Financials, 2016-2018
Figure 8.11:    Cisco Systems Inc.: Net Revenue (by Business Segment), 2016-2018
Figure 8.12:    Cisco Systems: Net Revenue (by Region), 2016-2018
Figure 8.13:    Cisco Systems Inc.: SWOT Analysis
Figure 8.14:    C3 IoT: SWOT Analysis
Figure 8.15:    General Electric: Overall Financials, 2016-2018
Figure 8.16:    General Electric: Net Revenue (by Business Segment), 2016-2018
Figure 8.17:    General Electric: Net Revenue (by Regional Segment), 2016-2018
Figure 8.18:    General Electric: Research and Development: 2016-2018
Figure 8.19:    General Electric: SWOT Analysis
Figure 8.20:    HCL Technologies Ltd.: Overall Financials, 2017-2019
Figure 8.21:    HCL Technologies Ltd.: Net Revenue (by Business Segment), 2017-2019
Figure 8.22:    HCL Technologies Ltd.: Net Revenue (by Regional Segment), 2017-2019
Figure 8.23:    HCL Technologies Ltd.: SWOT Analysis
Figure 8.24:    Huawei Technologies Co., Ltd.: Overall Financials, 2016-2018
Figure 8.25:    Huawei Technologies Co., Ltd.: Net Revenue (by Business Segment), 2016-2018
Figure 8.26:    Huawei Technologies Co., Ltd.: Net Revenue (by Region), 2016-2018
Figure 8.27:    Huawei Technologies Co., Ltd.: SWOT Analysis
Figure 8.28:    IBM Corporation: Overall Financials, 2016-2018
Figure 8.29:    IBM Corporation: Net Revenue (by Business Segment), 2016-2018
Figure 8.30:    IBM Corporation: Net Revenue (by Regional Segment), 2016-2018
Figure 8.31:    IBM Corporation: R&D Expenditure, 2016-2018
Figure 8.32:    IBM Corporation: SWOT Analysis
Figure 8.33:    Intel Corporation: Overall Financials, 2016-2018
Figure 8.34:    Intel Corporation: Net Revenue (by Business Segment), 2016-2018
Figure 8.35:    Intel Corporation: Net Revenue (by Regional Segment), 2016-2018
Figure 8.36:    Research and Development: Intel Corporation – 2016 to 2018
Figure 8.37:    Intel Corporation: SWOT Analysis
Figure 8.38:    Kellton Tech Solutions Ltd: Overall Financials, 2017-2019
Figure 8.39:    Kellton Tech Solutions Ltd: Net Revenue (by Business Segment),  2017-2019
Figure 8.40:    Kellton Tech: Net Revenue (by Region), 2017 and 2019
Figure 8.41:    Kellton Tech: SWOT Analysis
Figure 8.42:    Microsoft Corporation: Overall Financials, 2016-2018
Figure 8.43:    Microsoft Corporation: Net Revenue (by Business Segment), 2016-2018
Figure 8.44:    Microsoft Corporation: Net Revenue (by Regional Segment), 2016-2018
Figure 8.45:    Research and Development: Microsoft Corporation – 2016 to 2018
Figure 8.46:    Microsoft Corporation: SWOT Analysis
Figure 8.47:    Oracle Corporation: Overall Financials, 2016-2018
Figure 8.48:    Oracle Corporation: Net Revenue by Business Segment, 2017-2018
Figure 8.49:    Oracle Corporation: Net Revenue by Regional Segment, 2017-2018
Figure 8.50:    Research and Development: Oracle Corporation – 2016 to 2018
Figure 8.51:    Oracle Corporation: SWOT Analysis
Figure 8.52:    Rockwell Automation Inc.: Overall Financials, 2016-2018
Figure 8.53:    Rockwell Automation Inc.: Net Revenue (by Business Segment),  2016-2018
Figure 8.54:    Rockwell Automation Inc.: Net Revenue (by Regional Segment),  2016-2018
Figure 8.55:    Research and Development: Rockwell Automation – 2016 to 2018
Figure 8.56:    Rockwell Automation Inc.: SWOT Analysis
Figure 8.57:    SAP SE: Overall Financials, 2016-2018
Figure 8.58:    SAP SE: Net Revenue by Business Segment, 2016-2018
Figure 8.59:    SAP SE: Net Revenue by Regional Segment, 2016-2018
Figure 8.60:    SAP SE: SWOT Analysis
Figure 8.61:    Wipro Limited: Overall Financials, 2017-2019
Figure 8.62:    Wipro Limited: Net Revenue (by Business Segment), 2018-2019
Figure 8.63:    Wipro Limited: Net Revenue by Regional Segment, 2018-2019
Figure 8.64:    Wipro Limited: SWOT Analysis
Figure 9.1:    Artificial Intelligence in Energy Market Scope
Figure 9.2:    Report Methodology
Figure 9.3:    Primary Interviews Breakdown, by Company, Designation, and Region
Figure 9.4:    Sources of Secondary Research
Figure 9.5:    Data Triangulation
Figure 9.6:    Top-Down and Bottom-Up Approach for Market Estimation

Market Overview

The increasing demand for energy efficiency across the globe has propelled the need for artificial intelligence in energy. Moreover, there is an increased concern for decentralized power generators in the electricity distribution supply chain to reduce the electricity demand. The growth of the market is likely to be encouraged by the rise of battery storage system, leading to congestion and complexity within the grid.  

Expert Quote

"Fleet and asset management is one of the prominent applications of the AI in energy market. The fleet assets at remote locations are difficult to monitor and control. Any failure of assets without prior intimation leads to an increase in operational downtime. Thus, the energy industry is adopting AI technology to monitor and control the fleet assets across the supply chain. The AI-powered hardware components integrated with the AI software ensures efficient operation of oil & gas assets using vibration analytics, thereby ensuring a safe working atmosphere. An AI-enabled fleet and asset monitoring solution using computer vision provides visibility across the functioning of the equipment, which further helps in investigating the asset performance.”

Key Questions Answered in this Report:

•    What are the key trends and opportunities in the market pertaining to AI in energy?
•    What is the estimated global AI in energy market size in terms of revenue for the time period 2018-2024, and what is the expected compound annual growth rate (CAGR) during the forecast period 2019-2024? 
•    What is the expected future outlook and revenue to be generated by the different types of product offerings including software, hardware, AI-as-a-Service, and support services?
•    What is the estimated revenue generated by AI solutions in both power and oil & gas industries for the time period 2018-2024?
•    What is the estimated revenue generated by AI solutions in different power industry streams such as generation, transmission, and distribution for the time period 2018-2014? 
•    What is the estimated revenue generated by AI solutions in different oil & gas industry streams such as upstream, midstream, and downstream for the time period 2018-2024? 
•    What is the estimated revenue generated by AI solutions in different applications of power and oil & gas industry for the time period 2018-2024? 
•    What is the current market size and opportunities of AI solutions in energy industry across different regions including North America, Europe, Asia-Pacific, and Rest-of-the-World?
•    What are the major driving forces that are expected to increase the demand for the global AI in energy market during the forecast period?
•    What are the major restraints inhibiting the growth of the global AI in energy market?
•    What kind of new strategies are being adopted by the existing market players to expand their market position in the industry?
•    What is the competitive strength of the key players in the AI in energy market on the basis of analysis of their recent developments, product offerings, and regional presence?
•    How is the competitive benchmarking of the key AI focused IT companies in the energy market on the basis of analysis of their market coverage and market potential?
•    What is the funding and investment landscape in the global AI in energy market?
•    Which type of players and stakeholders operate in the market ecosystem of AI in energy, and what are their significance in the global market?
•    Which are the leading consortiums and associations in the global AI in energy market, and what is their role in the market?
•    How does the regulatory landscape differ in different regions for AI in energy?

Report Description

Scope of the Global Artificial Intelligence (AI) in Energy Market 

The global artificial intelligence in energy market research provides a detailed perspective regarding the product offerings, applications, value, and estimation, among others. The purpose of this market analysis is to examine the artificial intelligence in energy in terms of factors driving the market, trends, technological developments, and funding scenario, among others. 

The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contribution of the key players operating in the market. The artificial intelligence in energy market report is a compilation of different segments including market breakdown by product offerings, industry stream, and region. 

Market Segmentation

The global artificial intelligence in energy market comprises oil & gas and power industries. The oil & gas industry has been further segmented into upstream, midstream, and downstream. Similarly, for power industry, generation, transmission, and distribution are the three sectors across the supply chain.  Upstream segment in the oil & gas industry and distribution segment in the power industry accounted for the largest share in the market as a result of the increasing necessity for efficient oil & gas exploration and growing demand for continuous supply of electricity. However, during the forecast period, the generation segment in the power industry is expected to display the highest growth, owing to the increasing focus toward decentralized power generation. 

The emerging trends of the AI in energy market vary across different regions. In 2018, North America was at the forefront of the market, with huge market concentration in the U.S. During the forecast period, the Asia-Pacific region is expected to flourish as one of the most lucrative markets for AI in energy. Rising demand for decentralized power generation drive the growth of global AI in energy market. 

Key Companies in the Artificial Intelligence (AI) in Energy Market

The prominent players in the artificial intelligence in energy market include IBM Corporation, Microsoft Corporation, Accenture Plc, Amazon Web Services, Inc., Intel Corporation, Oracle Corporation, SAP SE, Huawei Technology, Cisco Systems, General Electric Company, Rockwell Automation, C3.ai, AutoGrid Systems, HCL Technologies, and Wipro Limited.

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