All sectors, including the energy one, have come to a point when effective and sustainable production is of the essence. Nevertheless, current development in artificial intelligence (AI) seems to present an alternative that could change the way energy is generated, distributed, and consumed. AI can assist in streamlining processes and improving the decision-making process which, in turn, may promote sustainability within the energy sector.
Maintenance prediction stands out also as one of the sectors where the aid of AI is greatly felt. Such prediction is achievable through AI algorithms that analyze to determine possible machine failure by predicting the time of failure of equipment using available large datasets from sensors and other machines. This makes it possible to perform maintenance in good time, thus preventing loss of productivity. This decreases the cost of operations and enhances the lifespan of the machines thus promoting sustainability.
Another area where renewal resources are developed for better use is energy generation, where AI is a game changer. For instance, machine learning algorithms can optimize the layout of solar panels/ wind turbines subject to a few variables such as the weather, to optimize power output. This not only enhances the total output of renewable energy sources but also makes them more reliable and cost-effective.
Furthermore, AI is considerably boosting the effectiveness of energy usage and its distribution as well as reducing waste. Smart grid technology allows the energy distribution network to be modified in real-time to optimize energy consumption thus reducing wastage and increasing reliability of the system. The energy performance of buildings also can be enhanced by building energy management systems powered by AI, thereby creating huge cost and environmental benefits.
Moreover, artificial Intelligence, which enables machines to think and act intelligently, and processes huge volumes of information with enormous speed and minimum help from humans, is at the core of the fourth industrial revolution. Nearly all industries are experiencing AI development and transformation of traditional approaches; changes are also swift in the energy sector, leading to increased consumption.
Figure 1: Global Primary Energy Consumption, Twh, 2022 to 2023
Source: Energy Institute – Statistical Review of World Energy
Major Trends
- Intelligent Power Consumption
- Smart or Intelligent Grid
- Electricity Trading
- Disaster Recovery
- Enhancing Energy Generation
Let’s discuss each one in detail.
1. Intelligent Power Consumption
One of the most significant applications of AI in the energy sector is assumed to be energy efficiency. AI helps to manage energy usage judiciously and design projects that have an environmentally beneficial effect. In many countries such as the Netherlands, avoiding waste and energy saving is of great importance. AI allows the smart home network to not only adjust its patterns of electricity usage according to the electricity market but also implement these patterns within the house to save on costs and optimize energy usage.
Moreover, to try and monitor energy consumption, those smart devices allow users to interact with their energy thermostats or other appliances in their household. These devices powered by AI are able to allow certain decision-making processes that help in energy conservation, for instance, disconnecting some appliances when the price of energy is high.
2. Smart or Intelligent Grid
In the energy sector, the smart grid is one more example of the technology-enhanced by AI. The key idea behind the Smart grid is using Artificial Intelligence to do many manual tasks which enhance efficiency, and reliability and reduce costs. The smart grid system is designed to control the processes of electricity distribution by including various intelligent elements, such as digital sensors, communication systems, information technologies, controlling technologies, and executors. Smart grids cover the entire energy distribution process from generation to consumption and allow for intelligent forecasting, detailing, diagnosis, resolution, and management of problems at every stage.
Moreover, there has been an exacerbated concern about the Smart grid’s role due to the shift to renewable sources of energy. With the diverse resources of renewable energy, for instance, hydropower, biomass, and geothermal energy (especially in America), wind and solar strategic systems have to be put in place to accommodate all the above mentioned. To take advantage of this opportunity, the government of the Netherlands initiated the Intelligent Grids Innovation Programme and supported through nearly 100 pilot projects carried out by Dutch companies on the development of smart meters and grid systems in the country.
3. Electricity Trading
As with most commodities, electricity is also a tradable commodity that can be sold and bought in the open markets. However, to function effectively the electricity market also known as power exchange constitutes considerable volumes of information from supply balance, grid demand, weather forecasting and many more.
Further, certain aspects of the electricity trading process can be improved with the use of artificial intelligence. First, due to machine learning and neural networks, AI can make forecasts more accurate. Power trading also involves very large amounts of data which, naturally, can be processed by AI that can provide instantaneous results. It also increases the amount of electricity that can be sold on the market by combining different sources of energy so that they work in unison.
4. Disaster Recovery
Hurricanes, tsunamis, earthquakes, floods, wildfires and many more can greatly affect the power supply. Gas and power lines in addition to other facilities are usually grossly destroyed during these natural calamities making it impossible for power restoration for days, weeks and sometimes even months depending on the level of destruction caused.
Unlike other existing systems, which may be restricted to part of the restoration process of power, due to AI, it becomes possible to speed up the recovery process and hence restoration of power to the relevant places. AI technology enables the assessment of the entire system as well as its intelligent management to predict the availability of power in specified areas and supply power to critical areas only. In other words, when the calamity is over, damage can be assessed by the AIs, the hierarchy can be optimized and the necessary measures for restoring power can be calculated accurately.
5. Enhancing Energy Generation
AI is improving the efficiency of power generation by offering predictive maintenance, real-time monitoring, and advanced analytical capabilities. With these capabilities, Energy producers can optimize the power generated, eliminate wastage and extend the usefulness of critical resources. In particular, forecasting weather conditions is possible due to artificial intelligence and therefore, energy producers of wind and solar energy can assess energy generation and control supply more effectively. This predictive feature ensures that there is a grid system that is less prone to fluctuations even with the incorporation of variable renewable sources.
For instance, AI models can process a vast amount of sensor data to detect wear and tear patterns at an early stage preventing breakdowns and extensive downtime of solar panels, boilers, and turbines. This is important for both renewable and non-renewable-based power plants as it improves operational performance and minimizes the cost of maintenance.
In conclusion, the application of AI can effectively transform how energy is consumed and generated. Above all, energy management practices will improve, and pollution will cease to exist. However, harnessing AI in the energy sector can achieve maximum benefits as all its challenges are addressed and innovative systems are constantly made effective, secure and resilient. The energy industry, as it is today, can face challenges by simply using artificial intelligence in moderation for the benefit of designing a more advanced and clean environment.
As the technology develops, it is clear that the energy sector will have expanded application of AI in the next several years that will create possibilities and efficiencies that one could not even imagine.
Find some of our related studies:
RF Power Semiconductor Market size worth US$32.393 billion by 2029
Press ReleasesThe RF power semiconductor market is projected to grow at a CAGR of 8.52% to reach US$36.002 billion by 2029, from US$23.922 billion in 2024.
A power semiconductor is a type of semiconductor device, which is generally used as a rectifier or switch in power electronic devices. The power semiconductor converts electric power, and it controls motors and lighting systems. Whereas RF or radio frequency is the oscillation range of voltage or alternating electric current. The RF power semiconductors offer a wide range of applications across multiple industries which include aerospace & defense, automotive, medical, and consumer electronics. The RF power semiconductor ensures multiple advantages, like a wider bandgap material, and higher breakdown voltage. The power density of these semiconductors is also higher and also ensures a high operating frequency.
Growth Drivers in the RF Power Semiconductor Market
The global RF power semiconductor market is forecasted to attain substantial growth, majorly with the increase in the global automotive and IT & telecommunication market. Various companies have introduced new technologies and products in the RF power semiconductors market, which are aimed to improve the technology of these components. For instance, in April 2024, QuantalRF announced the launch of its groundbreaking RF technology, QWX27105 single-chip 5-7 GHz Wi-Fi 7 Front-End IC in CMOS SOI. The QWX27105 single-chip integrates all RF front-end components and features an ultra-compact design.
Segmentation of the RF Power Semiconductor Market
The product segment of the RF power semiconductor market is categorized into RF passives, RF duplexers, RF switches, and others. Under the product segment of the global RF power semiconductor market, the RF passives category is forecasted to attain a greater market share. The RF passives refer to the RF component, which does not require an external power supply to operate. The RF passives component offers multiple benefits over other categories in the segment, like it offers easy-to-use technology, and offers a lower cost. The RF passive components are highly stable and offer a lower risk of damage. These types of components are generally used across multiple industries, for a wide range of applications, like broadcasting, telecommunication, wireless networking, and radar systems.
The RF power semiconductor market, under the material segment, is categorized into silicon, gallium arsenide, silicon-germanium, gallium nitride, silicon carbide, and indium phosphide. The silicon carbide category of the material segment, under the global RF power semiconductor market is forecasted to witness massive growth. Silicon carbide, also known as carborundum is a type of hard chemical compounds, which contain silicon and carbon. Silicon carbide RF power semiconductors offer multiple benefits over other material categories like the RF power semiconductors made with silicon carbide offer a larger bandgap energy and higher mobility of electrons. The silicon carbide material also offers improved and higher thermal conductivity, and higher power density. The operating temperature of the silicon carbide material is above 150 degrees Celsius, and it ensures lower switching losses.
By application, the RF power semiconductor market is categorized into aerospace & defense, automotive, medical, consumer, telecommunication & data communication, and others. In the global RF power semiconductors market, the automotive category of the application segment is estimated to grow at a greater rate. In the automotive industry, RF power semiconductors offer multiple applications. These types of semiconductors are used in vehicle-to-grid and vehicle-to-home technologies of electric vehicles. These are also used in the electric vehicle inverters, which convert the DC current to the AC current.
Based on geography, the Asia Pacific region is anticipated to attain significant growth in the global RF power semiconductor market. The Asia Pacific region is among the leading developers and manufacturers of semiconductors across the globe. Countries like China, Taiwan, South Korea, and Japan are among the biggest manufacturers and suppliers of semiconductors. Furthermore, multiple countries in the region, like India, Vietnam, and Singapore introduced multiple policies and investment opportunities to develop semiconductor manufacturing in the region. The Asia Pacific region is also among the biggest manufacturers and consumer electronics, which uses RF power semiconductors. Similarly, the growth of other related industries, like aerospace & defense, automotive, and IT & telecommunication which use RF power semiconductors, is also expected to boost the market forward. The Asia Pacific region is the biggest producer of the automotive industry, with demand for the automotive industry rising significantly in the region.
Key Players in the RF Power Semiconductor Market
The research includes several key players from the RF power semiconductor market, such as MACOM Technology Solutions, Broadcom Inc., Qualcomm Technologies, Inc., Cree, Inc., Toshiba Corporation, NXP Semiconductors N.V., Murata Manufacturing Co., Ltd., and Skyworks Solutions, Inc.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/global-rf-power-semiconductor-market
This analytics report segments the RF power semiconductor market as follows:
Toyota Industries and Dematic are the leaders in Automated Material Handling Market as per the Knowledge Sourcing Intelligence
Thought ArticlesCompetitive Benchmarking
Leaders:
KSI VP Matrix
Knowledge Sourcing Intelligence Vendor Positioning Matrix
Followers:
Challengers:
Niche:
Healthcare Mobile Application Market size worth US$32.393 billion by 2029
Press ReleasesThe healthcare mobile application market is anticipated to grow at a compound annual growth rate (CAGR) of 24.10% over the forecast period to reach US$32.393 billion by 2029, increasing from estimated value of US$11.004 billion in 2024.
Digitization has caused a radical change in the way most industries operate. The expansion of a digital system also comes with a great deal of transformation into the health care system due to the increasing usage of mobile phones as well as the availability of the internet network. Because of this, the introduction and rapid uptake of mHealth technologies have primarily occurred in the last few years, propelled by the increasing utilisation of these technologies by physicians and patients. The fitness and medical categories continue to contain the majority of mobile healthcare apps.
Growth Drivers in the Healthcare Mobile Application Market
The e-prescription system, wearable device manufacturers, and providers of mobile health apps have all contributed to the growth of digital healthcare, which has been largely attributed to the market expansion. It is also expected that throughout time, both the public and private sectors will promote the use of health apps by highlighting their benefits for tracking and enhancing lifestyle decisions and medical conditions.
The robust growth potential of the IT industry in the healthcare sector is supported by proactive government initiatives across the globe. The healthcare industry’s paradigm shift toward preventive strategies and the increase in funding for mHealth start-ups remain the main drivers of market growth. The increasing consciousness among consumers regarding fitness, wellness, and technical knowledge is a noteworthy element propelling the market expansion.
Customers are still drawn to modern healthcare apps because of their ability to provide them with up-to-date health statistics while they are on the go. In addition to the concerning rise in the prevalence of chronic illnesses and the development of new technologies, two crucial and indispensable elements for businesses to establish organized revenue channels remain a sustainable business model and strategic alliances. On the global landscape, increasing internet usage along with increasing smartphone subscriptions are equally acting as catalysts for the growth of the market.
Impact of Chronic Diseases on the Healthcare Mobile Application Market
The increased popularity of chronic diseases across the globe is one of the key factors responsible for the expansion of the market. Chronic diseases such as diabetes, hypertension, heart-related disorders and respiratory disorders have recorded the greatest use of these apps. For instance, the most recent estimates indicate that the prevalence rate of diabetes is 6.1% worldwide at the moment, placing it among the top 10 major causes.
Segmentation of the Healthcare Mobile Application Market
The healthcare mobile application market, by application type, is divided into six types- Patient engagement apps, fitness and wellness apps, medical reference apps, remote monitoring apps, electronic health record (EHR) apps, and others, The market is growing as a result of patients and healthcare professionals becoming more aware of the need to use medical applications for improved communication and patient outcomes. Moreover, it is expected that the number of new applications will increase in the market, as many of the medical applications will be made available and therefore app usage will go up.
Besides, the market has also been on the rise because of the increasing focus on healthy living, and the increased penetration of smartphones, tablets, and wearable technology to reach out to fitness applications.
The healthcare mobile application market, by deployment model, is divided into two types: On-Premise and cloud-based. The market is experiencing notable growth, primarily due to the growing utilisation of cloud-based agreements. The reason for the continuous development of this market is the need for universal healthcare services anytime and anywhere. Healthcare applications that are dependent on the Cloud allow healthcare practitioners, as well as users, to access patient information, e-health records, and other health-related services physically anywhere with an internet connection and on any device. This development is by the continuous telemedicine enhancement and remote patient monitoring.
Moreover, the demand for smart mobile phones and other mobile gadgets has changed the interactions between patients and health care systems. Mobile applications are now used every other time by patients to schedule an appointment, measure some health indicators, find information, and communicate with health professionals.
The healthcare mobile application market, by operating system, is divided into three types: iOS, Android, and others. The segment’s expansion can be attributed to the widespread consumer adoption of the iOS platform along with its global reach. Moreover, the rapid growth of smartphone users coupled with the much cheaper prices of Android-based smartphones has influenced the forecast that the Android segment will grow at the highest CAGR during the forecast period.
The healthcare mobile application market, by end-user, is divided into four types: Patients, healthcare providers, fitness enthusiasts, and others. The largest end-user segment belongs to the patients. Through these apps, patients can book an appointment on their smartphones with short taps in the app without the need to physically visit the hospital or make a long phone call. Furthermore, such apps enable patients to store their test results, health histories and medical reports in one place without any struggles. Telemedicine does not fall behind in this regard. Even patients who detest long-distance travel to see their doctors appreciate the option of video consultation, which ideally cuts wait time at the hospital.
During the projected timeframe, it is anticipated that the market for healthcare mobile applications will experience remarkable growth within North America. A few significant trends and opportunities have led to a huge increase in the use of healthcare mobile applications in the USA in recent years. A primary factor contributing to this progress is the increasing ubiquity of internet-connected smartphones, which has enabled more people to have basic access to healthcare facilities. As smartphones become more prevalent, an increasing number of individuals are resorting to convenient applications for managing their health and wellness needs.
Artificial Intelligence has changed the healthcare sector in North America for the better, as long-term outcome improvement is achieved with the help of predictive analytics, personalized treatment recommendations, and accelerated processes. Machine learning algorithms assess the big data on a patient’s history to recognize patterns and forecast the development of an ailment, thus allowing timely treatment and ensuring targeted therapy.
Key Players in the Healthcare Mobile Application Market
The research includes several key players from the healthcare mobile application market, such as Apple Health., Nike Inc, Allscripts Healthcare Solutions, Inc, Medtronic Pl, Epic Systems Corporation, Johnson & Johnson Health and Wellness Solutions, Inc., Fitbit, Inc. (Google), Philips Healthcare, Practo Technologies Pvt. Ltd., 8fit, and MyFitnessPal.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/healthcare-mobile-application-market
The Healthcare Mobile Application Market is segmented and analyzed as below:
Data Center Colocation Market size worth US$162.676 billion by 2029
Press ReleasesThe global data center colocation market is estimated to be around US$84.135 billion in 2024 and is anticipated to grow to US$162.676 billion by 2029 at a CAGR of 14.10%.
A data center colocation is a type of data center that enables its operators to rent out its space. There are multiple types of data center colocations, which include retail colocation, wholesale colocation, and hybrid cloud-based colocation. The data center colocation offers multiple benefits to its operators, such as reliable power and cooling systems for users. It also offers cost-saving benefits to data center operators, as it eliminates the need for businesses to build and maintain their own data center facilities. The colocation also enhances the operators’ stability and optimizes the data center’s performance.
With the increasing demand for data center colocation globally, various key players entered the data center colocation market. For instance, in June 2024, Cisco, a global technological leader, launched its new Nexus HyperFabric AI clusters, a new data center infrastructure solution for NVIDIA. This solution features multiple capabilities like colocation, edge sites, easy deployment, management, and monitoring of data centers. Similarly, Maincubes, one of the biggest data center operators in Europe, announced its expansion of new data center FRA04 in Frankfurt. This data center is spread at about 12,500 square meters, which provides 40 MW of IT capacity.
The global data center colocation market, by colocation model, is segmented into wholesale and retail. The retail colocation is estimated to attain a greater market share. Retail colocation is a type of data center facility in which businesses rent their data center spaces, power cooling, and network connectivity of their servers, storage, and IT equipment.
The enterprise size segment of the global data center colocation market is categorized into small, medium, and large. The medium category of the enterprise size segment is estimated to attain the maximum market size, having shares across industries. The requirement for an efficient and cost-saving data center facility in the category is significantly greater than the other categories.
The global data center colocation market, under the end-user industry, is segmented into communication & technology, manufacturing, government, healthcare, BFSI, media & entertainment, and others. The communication & technology category is forecasted to attain maximum market share during the forecasted timeline. It is among the fastest expanding and developing industries compared to others. For efficient performance, the communication & technology industry requires reliable data center connectivity, which can offer data security and cost-efficiency, among others. This industry is also among the biggest data generators globally, and an efficient data center colocation model helps in the seamless transfer and deployment of data across multiple companies.
Based on geography, the Asia Pacific region of the global data center colocation market is anticipated to attain significant growth. Asia Pacific is among the biggest operators of data centers worldwide, with multiple new governmental policies and new investments to boost the region’s data center market. Various countries, such as India, Taiwan, China, Vietnam, and Malaysia, have introduced multiple policies and investment schemes to develop state-of-the-art data center facilities, propelling the regional data center colocation market’s growth. Furthermore, the region is also among the biggest in the global IT and Communication industry, which necessitates the development of reliable and efficient data center colocation facilities.
As a part of the report, the major players operating in the data center colocation market that have been covered are Equinix Inc., Telehouse, Rackspace US Inc., Colt Technology Services Group Ltd., Zayo Group LLC, NTT Communications, Cyxtera Technologies, SaskTel, eStruxture, Centrilogic, Hut 8, Vantage, and RackBank.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/global-data-center-colocation-market
This analytics report segments the global data center colocation market as follows:
Automated Material Handling Market size worth US$29.693 billion by 2029
Press ReleasesThe automated material handling market is expected to expand at a CAGR of 7.10% over the projected period, from US$21.077 billion in 2024 to US$29.693 billion by 2029.
The automated material handling market includes the utilization of automated equipment, solutions, and software programs to exchange, store, and oversee heavy materials or products in a diverse facility like warehousing, manufacturing, or conveyance sites successfully. The objective of automated material handling is to extend efficiency, lower labor costs, and increase security in the storage and transfer of materials. These systems consolidate diverse advancements such as transports, robots, robotized storage locations, retrieval systems, and automated guided vehicles, among others. Moreover, they can be custom-made to fulfill the specific prerequisite of a particular facility, such as high-speed or handling capacity for sensitive or hazardous materials.
The automated material handling market is experiencing significant expansion during the forecasted period This growth is largely driven by the rise of e-commerce, which has increased the demand for efficient order fulfillment. Automation can manage high volumes of orders with greater speed and accuracy, addressing labor shortages and reducing reliance on manual labor, thus enhancing efficiency and cutting costs. Further, the advances in robotics, sensors, and artificial intelligence are making automated systems more affordable, reliable, and adaptable.
These systems can boost efficiency and productivity, resulting in higher throughput and lower costs. Furthermore, automation can enhance accuracy and precision, leading to better-quality products and less waste.
The market is witnessing diverse collaborations and innovative technological advancements, for instance, in May 2024, KION North America announced a non-exclusive strategic collaboration with Fox Robotics which focuses on KION in manufacturing and assembling work of FoxBot autonomous trailer loaders/unloaders (ATLs) at their Summerville facilities held in South Carolina.
Based on the type, the automated material handling market is divided into automated conveyor & sorting systems, automated storage and retrieval systems, and automated guided vehicles. Automated guided vehicles have an impact on the growth of the automated material handling market because they are flexible, adaptable, and have growing capabilities. They work well in different industries, like manufacturing, warehousing, healthcare, and retail. Businesses integrate automated guided vehicles with other automated systems to create complete material handling solutions. They also help cut labor costs, which leads to cost savings for the industry.
Based on the industry vertical, the automated material handling market is categorized into airport, manufacturing, healthcare, chemical, paper, food and beverage, warehousing, and others. More warehousing facilities utilize automated material handling which is expected to boost the market majorly. The automated equipment can do the heavy repetitive lifting that workers often do by hand, which can cause physical strain. Also, the rise in work-related injuries worldwide affects warehousing companies a lot. This leads to companies adopting automated material handling solutions, which have helped and pushed demand growth in the market.
Based on geography, the automated material handling market is extending majorly in the Europe region due to various variables. The European region has major companies that are using material handling solutions. The growing number of warehouses and logistics operations is likely to drive high demand in the market. Further, the European government supports automation in industries and technological advancements through its policies and initiatives. This will help the regional market grow leading to regional companies working towards launching new and advanced innovations leading to expansion in the automated material handling market.
As a part of the report, the major players operating in the automated material handling market that have been covered are BEUMER Group, Daifuku Co., Ltd., Honeywell Intelligrated, Dematic GMBH & Co. KG, Amazon Robotics, The Schaefer Group, Bosch Rexroth, Siemens AG, Toyota Industries Corporation, and Konecranes Plc.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/automated-material-handling-market
This analytics report segments the automated material handling market on the following basis:
Powering the Future: The Role of AI in Revolutionizing the Energy Sector
Thought ArticlesAll sectors, including the energy one, have come to a point when effective and sustainable production is of the essence. Nevertheless, current development in artificial intelligence (AI) seems to present an alternative that could change the way energy is generated, distributed, and consumed. AI can assist in streamlining processes and improving the decision-making process which, in turn, may promote sustainability within the energy sector.
Maintenance prediction stands out also as one of the sectors where the aid of AI is greatly felt. Such prediction is achievable through AI algorithms that analyze to determine possible machine failure by predicting the time of failure of equipment using available large datasets from sensors and other machines. This makes it possible to perform maintenance in good time, thus preventing loss of productivity. This decreases the cost of operations and enhances the lifespan of the machines thus promoting sustainability.
Another area where renewal resources are developed for better use is energy generation, where AI is a game changer. For instance, machine learning algorithms can optimize the layout of solar panels/ wind turbines subject to a few variables such as the weather, to optimize power output. This not only enhances the total output of renewable energy sources but also makes them more reliable and cost-effective.
Furthermore, AI is considerably boosting the effectiveness of energy usage and its distribution as well as reducing waste. Smart grid technology allows the energy distribution network to be modified in real-time to optimize energy consumption thus reducing wastage and increasing reliability of the system. The energy performance of buildings also can be enhanced by building energy management systems powered by AI, thereby creating huge cost and environmental benefits.
Moreover, artificial Intelligence, which enables machines to think and act intelligently, and processes huge volumes of information with enormous speed and minimum help from humans, is at the core of the fourth industrial revolution. Nearly all industries are experiencing AI development and transformation of traditional approaches; changes are also swift in the energy sector, leading to increased consumption.
Figure 1: Global Primary Energy Consumption, Twh, 2022 to 2023
Source: Energy Institute – Statistical Review of World Energy
Major Trends
Let’s discuss each one in detail.
1. Intelligent Power Consumption
One of the most significant applications of AI in the energy sector is assumed to be energy efficiency. AI helps to manage energy usage judiciously and design projects that have an environmentally beneficial effect. In many countries such as the Netherlands, avoiding waste and energy saving is of great importance. AI allows the smart home network to not only adjust its patterns of electricity usage according to the electricity market but also implement these patterns within the house to save on costs and optimize energy usage.
Moreover, to try and monitor energy consumption, those smart devices allow users to interact with their energy thermostats or other appliances in their household. These devices powered by AI are able to allow certain decision-making processes that help in energy conservation, for instance, disconnecting some appliances when the price of energy is high.
2. Smart or Intelligent Grid
In the energy sector, the smart grid is one more example of the technology-enhanced by AI. The key idea behind the Smart grid is using Artificial Intelligence to do many manual tasks which enhance efficiency, and reliability and reduce costs. The smart grid system is designed to control the processes of electricity distribution by including various intelligent elements, such as digital sensors, communication systems, information technologies, controlling technologies, and executors. Smart grids cover the entire energy distribution process from generation to consumption and allow for intelligent forecasting, detailing, diagnosis, resolution, and management of problems at every stage.
Moreover, there has been an exacerbated concern about the Smart grid’s role due to the shift to renewable sources of energy. With the diverse resources of renewable energy, for instance, hydropower, biomass, and geothermal energy (especially in America), wind and solar strategic systems have to be put in place to accommodate all the above mentioned. To take advantage of this opportunity, the government of the Netherlands initiated the Intelligent Grids Innovation Programme and supported through nearly 100 pilot projects carried out by Dutch companies on the development of smart meters and grid systems in the country.
3. Electricity Trading
As with most commodities, electricity is also a tradable commodity that can be sold and bought in the open markets. However, to function effectively the electricity market also known as power exchange constitutes considerable volumes of information from supply balance, grid demand, weather forecasting and many more.
Further, certain aspects of the electricity trading process can be improved with the use of artificial intelligence. First, due to machine learning and neural networks, AI can make forecasts more accurate. Power trading also involves very large amounts of data which, naturally, can be processed by AI that can provide instantaneous results. It also increases the amount of electricity that can be sold on the market by combining different sources of energy so that they work in unison.
4. Disaster Recovery
Hurricanes, tsunamis, earthquakes, floods, wildfires and many more can greatly affect the power supply. Gas and power lines in addition to other facilities are usually grossly destroyed during these natural calamities making it impossible for power restoration for days, weeks and sometimes even months depending on the level of destruction caused.
Unlike other existing systems, which may be restricted to part of the restoration process of power, due to AI, it becomes possible to speed up the recovery process and hence restoration of power to the relevant places. AI technology enables the assessment of the entire system as well as its intelligent management to predict the availability of power in specified areas and supply power to critical areas only. In other words, when the calamity is over, damage can be assessed by the AIs, the hierarchy can be optimized and the necessary measures for restoring power can be calculated accurately.
5. Enhancing Energy Generation
AI is improving the efficiency of power generation by offering predictive maintenance, real-time monitoring, and advanced analytical capabilities. With these capabilities, Energy producers can optimize the power generated, eliminate wastage and extend the usefulness of critical resources. In particular, forecasting weather conditions is possible due to artificial intelligence and therefore, energy producers of wind and solar energy can assess energy generation and control supply more effectively. This predictive feature ensures that there is a grid system that is less prone to fluctuations even with the incorporation of variable renewable sources.
For instance, AI models can process a vast amount of sensor data to detect wear and tear patterns at an early stage preventing breakdowns and extensive downtime of solar panels, boilers, and turbines. This is important for both renewable and non-renewable-based power plants as it improves operational performance and minimizes the cost of maintenance.
In conclusion, the application of AI can effectively transform how energy is consumed and generated. Above all, energy management practices will improve, and pollution will cease to exist. However, harnessing AI in the energy sector can achieve maximum benefits as all its challenges are addressed and innovative systems are constantly made effective, secure and resilient. The energy industry, as it is today, can face challenges by simply using artificial intelligence in moderation for the benefit of designing a more advanced and clean environment.
As the technology develops, it is clear that the energy sector will have expanded application of AI in the next several years that will create possibilities and efficiencies that one could not even imagine.
Find some of our related studies:
Mobile AI Market size worth US$79.367 billion by 2029
Press ReleasesThe mobile artificial intelligence market is expected to grow at a CAGR of 28.49%, reaching a market size of US$79.367 billion in 2029 from US$22.658 billion in 2024.
Mobile AI is the integration of artificial intelligence-based technologies into various forms of mobile devices, which majorly include smartphones and tablets. The integration of artificial intelligence in mobile devices offers a wide range of advantages to users, as it helps in enhancing the user’s experience, and helps in enhancing the security of the device. The AI-based tools and platforms can also help in analyzing and monitoring user activity trends and can help in personalizing and organizing notifications, tasks, and settings.
With the increasing global ownership of smartphones across the globe, the integration of AI into mobile devices is expected to grow significantly. Various global companies and market leaders have introduced key solutions and products for the mobile AI market. For instance, in November 2024, Rabbit Inc., a global AI solution provider, announced the launch of the teach mode agent system, which allows the users of r1 users to custom-create AI agents for mobile devices. Similarly, in October 2024, Huawei Technologies Co., Ltd. launched 5G-AA solutions for the mobile AI devices.
By component, the mobile AI market is segmented into three major categories which include hardware, software, and services. The hardware category is further divided into processor, memory, sensor, and others. The hardware category of the component segment of the mobile AI market is expected to witness significant growth. An AI processor is a type processing unit, which integrates CPUs and discrete acceleration. It also includes multiple components of hardware, like GPUs, FPGAs, AI accelerators, and neural processing units among others. AI memory is a type of hardware system, that stores, utilizes, and retrieves information related to artificial intelligence tools. The AI memory helps enhance the performance and accuracy of the AI-based tool, and its responses. Multiple types of AI sensors are being integrated into mobile devices, which include AI motion sensing capture and inductive sensors among others.
The technology node segment of the mobile AI market is categorized into 20–28nm, 10nm, 7nm, and others. The 7nm category of the technology node segment under the mobile AI market is expected to witness significant growth. The 10nm technology node is a type of multi-gate MOSFET technology, which offers improved speed and reduced energy consumption over others. The 7nm technology node is considered the most suitable for the mobile AI application, as it offers higher reliability and flexible utilization.
The mobile AI market, under the end-user segment, is divided into smartphones, cameras, drones, automotive, robotics, AR/ VR, and others. The smartphone category is forecasted to witness greater growth in the end-user segment of the mobile AI market. The increasing global ownership of smartphones and the introduction of key technologies in the segment is expected to boost the category further.
Based on geography, the North American region is expected to witness significant growth in the global mobile AI market. The North American region is among the global leaders in artificial intelligence-based technology development, and it is also home to some of the biggest AI technology and mobile devices leaders, like Google, Meta, Apple, Microsoft, and Nvidia among others. Similarly, the region also offers increasing private and governmental investments in the AI-based technology market.
As a part of the report, the major players operating in the mobile AI market that have been covered are Qualcomm Inc., Nvidia, Intel Corporation, IBM Corporation, Microsoft Corporation, Apple Inc., Huawei (Hisilicon), GoogleLLC, Mediatek, Samsung, and Cerebras Systems.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/mobile-artificial-intelligence-market
The market analytics report segments the mobile AI market as follows:
Top Players in the Composite Coatings Market: Leaders Driving Innovation
Thought ArticlesComposite coatings are protective coatings that apply the substrate to steel or concrete and protect it against corroding damage. it comprises of a synthetic resin of epoxy and polyurethane, typically coating several layers. Normally utilized in construction for their safe protection against corrosion on steel and thermal barrier properties on concrete and other materials. Composite coatings are lightweight and low volatile organic compound (VOC). The composite coatings market is growing with progression due to need for lighter, stronger materials in aircraft and automobiles where weight is reduced for better fuel economy and performance. Thus, composite coatings represent an important factor in these above areas. Increased production in the automobile sector, in turn, will increase the market for composite coatings, being so critical to the new automobile’s needs of protection, aesthetics, and needs of repair and restoration in the refinish automotives. The International Organization of Motor Vehicle Manufacturers (OICA) recorded a production increase of 10% in 2023 vehicles, with 93,546,599 produced in all, including cars numbering 67,133,570 and commercial vehicles numbering 26,413,029.
Figure 1: Vehicle Production in the World, in Million, in 2023
Source: OICA
Top companies in the composite coatings market
Let’s discuss each in detail.
AkzoNobel is a global leader in the manufacturing of paints and coatings products and solutions. It is based in the Netherlands, with the company having over 150 countries in its accessibility across the globe. It pursues brands such as Dulux, International, Sikkens, and Interpon, focusing its business on more sustainable and innovative solutions. In addition, they push themselves to always innovate in the types of solutions they are delivering in all areas, especially in enhancing their sustainability and longevity aspects.
The strategy of the company is a balance between growth and improvement in profitability, to become a first-class portfolio of brands in terms of coverage by distributing revenue with 50% coming from emerging markets, across-the-board global geography so that the sources of income are well spread out worldwide to help build growth and enhance profitability in its products The company generates strong cash generation for itself through the positioning of a well-placed consumer base which will hold it at optimum drive to enjoy the fastest turnarounds in growth as well as profitability improvement.
AkzoNobel provides in detail all composite coatings product lines from the specialized divisions, namely Aerospace Coatings. Under this, it offers Aerodur Barrier Primer 37045, a solventborne chromate-free 3-component isocyanate-cured epoxy primer for composites and plastics, in black and white colors only. The maximum gloss level of the product is 25 GU. It gives a coverage of 35 m² per liter and 1423 ft² per US gallon. The assumed application of their composite coatings are related to aerospace defense sector that require lightweight but high-performance materials.
PPG is a worldwide leader in paints, coatings, and materials, with operations in over 70 nations and a customer trust of 135 years. It has several products suited to industries such as aerospace, automotive, industrial, and protective and marine. A commitment to high quality and innovation is very well-known of the company. It currently has more than 156 manufacturing sites serving across 70 countries. PPG focuses on providing innovative and environmentally viable coating solutions that improve product performance and aesthetics over time across a plethora of applications.
The company offers high-performance coating products for composite structures. They are a leading name in aerospace coatings, offering products for exteriors and interiors of aircraft that are resistant to extreme conditions. PPG also provides automotive coatings, which include original equipment manufacturer (OEM) and refinishing, with promises of durability and colorfastness under exceptional, high-quality finishes. They also provide industrial coatings like protective coatings for metal structures, powder coatings, and specialty coatings for difficult conditions.
Sherwin-Williams is another well-known producer for paint and coatings industries that has the widest variety of products for varied forms of use such as residential, commercial, industrial, and marine products. The company was started in 1866 and has a long history of developing business, innovating, and meeting the needs of the workforce and global customers. They market their branded products through exclusive sale in over 5,000 stores across the US, Canada, the Caribbean, and Latin America. They have engineered paint and coating solutions that can reach more than 120 countries doing business in construction; industrial; packaging; and transportation markets. The company comes with complementing reputation in terms of quality, shades from the extensive color spectrum available, and an ironclad commitment to innovation and customer support.
The company works as an integrated major, focusing mainly on composite coatings in its industrial coatings division. Their composite coatings are primarily intended for the industrial application requiring durability, corrosion resistance, and specific performance characteristics. Their pigmented wood/composite topcoats product portfolio like Sher-Wood® F3 Kemvar® Plus Conversion Varnish, Kem Aqua® Plus, among others are compliant with industrial standards and show excellent hardness, flow, leveling, and resistance to blocking, marring, staining, and printing. These products provide finishes that make a difference indeed on building products.
Besides, the latest product launch from Sherwin-Williams Aerospace Coatings includes a new aerospace conductive coating designated as CM0485115, which is a high-conductivity solution for the dissipation of static on aluminum as well as composite aircraft in September 2023. The coating is characterized by a resistivity value ranging from 0.1 to 100,000 ohms per square meter; thus, it affords the static charges to dissipate from antennas and radomes. Its good adhesion and fluid resistance make it a staple for the soaring adoption of composite substrates in the aerospace marketplace.
INOMETA is a German company, part of the AVANCO Group, developing and producing innovative lightweight design solutions and functional surfaces. It specializes primarily in technical lightweight design items manufactured from aluminum and fiber composites such as carbon fiber-reinforced plastic and glass fiber-reinforced plastic.
Fiber-reinforced and ceramic-filled plastic coatings with exceptional strength, versatility, and adaptability are INOMETA’s PROTEK® composite coatings. They offer high performance in diverse applications due to their extraordinary adhesion strength to carbon or glass fiber composites, optimum abrasion resistance, and electrical insulation or conductivity adjustability. Applications of these coatings ranges from printing, offshore, medical technology glass and ceramics, textile, and paper and film. They also serve in rubber recovering and are fulfilling even the most serious industry requirements through state-of-the-art processes and controlled precision.
Conclusion
The composite coatings market is poised to grow significantly because of factors such as growing demand for lightweight materials, strict environmental regulations, and technology advances. Some major companies like Sherwin-Williams and AkzoNobel have also been investing in upgraded R&D facilities to develop innovative products. Such industry leaders share is important for latest product innovations that would shape the future of the market through various strategic collaborations, mergers and acquisitions, and strong believe in sustainability. When the market changes through growth, by these leading companies, it will meet the increased demand across end-use industries, thus ensuring this ever-thriving industry becomes better.
Find some of our related studies:
EV Powertrain Market size worth US$199.314 billion by 2029
Press ReleasesThe EV powertrain market is predicted to expand at a compound annual growth rate of 7.93% and increase from US$136.120 billion in 2024 to account for US$199.314 billion in 2029.
An EV powertrain is a combination of different systems and components of an electric vehicle, which powers and drives the vehicle forward. The powertrain of an electric vehicle consists of multiple key components, which include batteries, motors, transmissions, and energy management systems.
With the increasing demand for electric vehicles across the globe, the global EV powertrain market is forecasted to witness significant growth. Various global companies and organizations introduced new research and development schemes to innovate and integrate new technologies in the electric vehicle powertrain market. For instance, in March 2023, Nissan, a global leader in automotive innovation, launched its new approach to electrified powertrain development. The company stated that the new approach is aimed at reducing the development cost of newer powertrains for the electric vehicle, as it offers sharing and modulization of EVs and e-power core components.
Under the component segment, the EV powertrain market is categorized into transmission, motors, and battery. In the global EV powertrain market, the battery category, under the component segment is forecasted to attain a greater market share during the forecasted timeline. The battery is among the key components of an electric vehicle, which helps in storing, and efficiently delivering power to different components of the vehicles.
The propulsion type segment of the EV powertrain market is categorized into battery electric vehicles and plug-in hybrid electric vehicles. Under the propulsion type segment of the electric vehicle powertrain market, the battery electric vehicle market will attain a greater market share. The battery electric vehicle or BEVs are a type of electric vehicle, which completely depends on electricity stored in its battery to operate and drive the vehicle. In the global zero-emission vehicle market, the battery electric vehicle witnessed significant growth, as it offers efficient and sustainable technology in the automotive industry. The International Energy Agency, in its report, stated that the sales of battery electric vehicles witnessed a massive growth in the past few years, compared to plug-in hybrid electric vehicles. The agency stated that in 2021, 1.19 million PHEVs were sold globally, whereas about 4.7 million BEVs were sold. Similarly, in 2023, the total sales of BEV were recorded at 9.5 million, whereas about 4.3 million PHEVs were sold globally.
The EV powertrain market, under the vehicle segment, is categorized into passenger cars and commercial vehicles. In the global EV powertrain market, the passenger cars category under the vehicle segment is projected to witness significant growth during the forecasted timeline. The passenger cars category in the global EV market witnessed significant growth in sales. Similarly, various governments across the globe also introduced key policies and subsidy schemes to boost the sales of passenger cars.
Based on geography, the Asia Pacific region is forecasted to witness the maximum share of the global EV powertrain market. The Asia Pacific is among the biggest producers and adopters of electric vehicles across the globe. The sale of electric vehicles in the Asia Pacific region has also witnessed a constant increase with the introduction of new technologies in the industry. The International Energy Agency, in its report, stated that China alone contributed to about half of the total sale of electric vehicles across the globe. The agency stated that in 2021, the total sales of electric vehicles in the nation were recorded at about 3.3 million, which surged to about 6 million in 2022. In 2023, the total sales of EVs in China were recorded at 8.1 million, whereas only 3.2 million EVs were sold in Europe and 1.4 million in the USA during 2023. Similarly, the introduction of key investment schemes and tax benefits by the governments of various countries in the region also pushed the production of electric vehicles, boosting the EV powertrain market in the Asia Pacific region.
The research includes several key players from the EV powertrain market, such as GKN PLC (Melrose Industries PLC), NVIDIA, Magna International Inc., Hitachi Astemo, Ltd., Bosch Limited, Cummins Inc, AVL List GmbH, Mitsubishi Electric Corp, and BorgWarner Inc.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/ev-powertrain-market
This analytics report segments the EV powertrain market as follows:
Metaverse Market size worth US$587.097 billion by 2029
Press ReleasesThe metaverse market size is valued at US$93.114 billion in 2024 and is estimated to grow at a CAGR rate of 44.52% during the forecast period, reaching up to US$587.097 billion by 2029.
Metaverse is a type of digital ecosystem, that is built utilizing multiple kinds of 3D and virtual technologies, like real-time collaboration software, and blockchain-based financial tools among others. It is a type of persistent and immersive 3D virtual space, which is shared by multiple users, sharing different types of digital platforms. In the metaverse, the users have the ability to perform various real-life acts, like shop, play, work, and socialize with other users. The metaverse offers multiple advantages to the users and developers like it helps in enhancing the virtual tour experience of the users. The metaverse acts as a great tool for professionals, as by using the metaverse technology, a healthcare professional can visit patients with geographical limitations.
Although the metaverse setting offers multiple advantages, the technology also includes several cons, like it includes higher equipment costs for technologies like AR headsets or VR headsets, consoles, software, and others. It can also lead to the risk of data breaches, as the metaverse setting is a completely online and cloud-based technology. Various companies and organizations are investing heavily in the development of new solutions to secure metaverse technologies. Many companies have also introduced new features, or applications for the metaverse, which is also expected to push the demand for the metaverse market forward. For instance, in October 2024, Lamborghini, a global supercar manufacturer, with a partnership with Animoca Brands launched Fast ForWorld, which aims to bring supercars into the metaverse gaming setting.
The component segment of the metaverse market is categorized into hardware and software. Under the component segment of the global metaverse market, the software category is forecasted to attain a greater market share. The software is among the key components of the metaverse market, which connects the real-life user to their metaverse character, and helps to interact with them. There are four basic types of metaverse software, which include gaming-based software, social-based, commerce-based, and education-based. The substantial growth of the metaverse market offers the developers of software across the globe an impressive opportunity to attract new users.
The metaverse market, under the technology segment, is categorized into virtual reality & augmented reality, edge computing, artificial intelligence, and mixed reality, human interface, and others. The virtual reality & augmented reality category, under the technology segment of the metaverse market, is forecasted to achieve greater growth. Augmented reality and virtual reality, or AR/VR is a combination of hardware and software technologies combined together, which helps in transforming the user into the online realm. Augmented reality or AR uses a real-world ecosystem, and adds virtual elements into it, whereas virtual reality or VR is a completely virtual setting.
By platform, the metaverse market is categorized into desktop, mobile, consoles, and others. Under the platform segment of the metaverse market, the mobile category is forecasted to attain maximum market share. The increase in the global demand for smartphones and the introduction of new technologies and capabilities of the mobile phone is expected to push its market share in the metaverse market. In the past few years, the mobile phone sector globally witnessed the integration of several new technologies, like AI, AR, 5G, and IoT, which help in increasing the market demand for products across the globe. The GSMA (GSM Association), in its report, stated that the ownership of smartphones increased significantly across the globe. The agency stated that by October 2023, about 54% of the global population, or about 4.3 billion individuals across the globe own smartphones.
The metaverse market, by industry vertical, is categorized into BFSI, retail, media & entertainment, education, aerospace & defense, manufacturing, and others. The media & entertainment sector of the industry vertical category of the metaverse market is forecasted to attain a greater market share. The metaverse technology offers new growth opportunities for multiple industries, most importantly to the media and entertainment sector. In the metaverse setting, the companies operating in the media and entertainment sectors can build a deeper connection with the users. Various media companies have introduced several virtual settings, based on some stores, which offer the consumers a more immersive experience of the stories, and characters.
Based on geography, the North American region is forecasted to witness maximum market share, majorly with the increasing adoption of new technologies in the region. The North American region is among the biggest developers and adopters of new technology-based solutions, like AI and ML, which offers the companies in the region the first-mover advantage in new markets like metaverse technology. The region is also home to some of the biggest companies working on or developing metaverse technologies, like Google, Microsoft, Apple, and Meta (Facebook). The high availability of such companies also offers a competitive advantage for the development of new technologies, and increasing investments in research and development.
The research includes several key players from the metaverse market, such as Meta Platforms, Inc., Tencent Holdings Ltd., Nvidia Corporation, Roblox Corporation, Unity Technologies, Inc., Nextech Ar Solutions Corp., The Sandbox, Active Theory, Decentraland, Microsoft Corporation, and Antier Solutions Pvt. Ltd.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/metaverse-market
This analytics report segments the metaverse market as follows: