GITNUX MARKETDATA REPORT 2024

Ai In The Energy Industry Statistics

AI in the energy industry is expected to revolutionize operations, increase efficiency, and drive innovation through advanced analytics and decision-making capabilities.

With sources from: accenture.com, marketsandmarkets.com, greentechmedia.com, forescout.com and many more

Statistic 1

By 2024, the global AI in energy market is expected to reach USD 4.04 billion.

Statistic 2

In 2021, 30% of utilities were already using cloud-based AI in their operations.

Statistic 3

AI could reduce energy consumption in manufacturing by 10-20%.

Statistic 4

Approximately 32% of energy companies are planning to use AI to predict equipment failures.

Statistic 5

In 2018, AI technology brought an estimated $3 billion in value to the energy industry.

Statistic 6

By 2035, AI technologies could increase labor productivity for the energy sector by 20-34%.

Statistic 7

18% of energy companies involved in AI projects have more than one project.

Statistic 8

Around 75% of senior executives in the energy industry believe AI technology will actively transform their organizations within three years.

Statistic 9

AI technology could help the energy market to save up to $5.81 billion by 2022.

Statistic 10

In the next 10 years, the energy and utilities industry is expected to generate $38 billion in AI value.

Statistic 11

AI applications in the energy sector have the potential to boost profits by as much as 30%.

Statistic 12

Approximately 55% of the global energy corporations will invest in AI within the next 3 years.

Statistic 13

Roughly 47% of companies in the energy sector are embracing AI to improve operational efficiency.

Statistic 14

AI can potentially provide an annual value of $4.4 billion to $8.6 billion in predictive asset maintenance in energy sector.

Statistic 15

AI in physical security and surveillance in energy sector is projected to provide $1.3 billion to $2.4 billion in annual value.

Statistic 16

AI in energy logistics and route optimization has a potential value of $300 million to $600 million.

Statistic 17

Around 68% of energy companies have not yet implemented AI in their operations.

Statistic 18

By 2024 energy and utilities industry is expected to spend $1.9 billion on AI systems.

Statistic 19

Only 35% of energy businesses feel ready to adopt AI technologies.

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In this post, we explore a comprehensive collection of statistics highlighting the growing influence of artificial intelligence in the energy industry. From significant market projections to potential cost savings and operational improvements, these statistics shed light on the transformative power AI holds for energy companies worldwide.

Statistic 1

"By 2024, the global AI in energy market is expected to reach USD 4.04 billion."

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Statistic 2

"In 2021, 30% of utilities were already using cloud-based AI in their operations."

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Statistic 3

"AI could reduce energy consumption in manufacturing by 10-20%."

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Statistic 4

"Approximately 32% of energy companies are planning to use AI to predict equipment failures."

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Statistic 5

"In 2018, AI technology brought an estimated $3 billion in value to the energy industry."

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Statistic 6

"By 2035, AI technologies could increase labor productivity for the energy sector by 20-34%."

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Statistic 7

"18% of energy companies involved in AI projects have more than one project."

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Statistic 8

"Around 75% of senior executives in the energy industry believe AI technology will actively transform their organizations within three years."

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Statistic 9

"AI technology could help the energy market to save up to $5.81 billion by 2022."

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Statistic 10

"In the next 10 years, the energy and utilities industry is expected to generate $38 billion in AI value."

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Statistic 11

"AI applications in the energy sector have the potential to boost profits by as much as 30%."

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Statistic 12

"Approximately 55% of the global energy corporations will invest in AI within the next 3 years."

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Statistic 13

"Roughly 47% of companies in the energy sector are embracing AI to improve operational efficiency."

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Statistic 14

"AI can potentially provide an annual value of $4.4 billion to $8.6 billion in predictive asset maintenance in energy sector."

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Statistic 15

"AI in physical security and surveillance in energy sector is projected to provide $1.3 billion to $2.4 billion in annual value."

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Statistic 16

"AI in energy logistics and route optimization has a potential value of $300 million to $600 million."

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Statistic 17

"Around 68% of energy companies have not yet implemented AI in their operations."

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Statistic 18

"By 2024 energy and utilities industry is expected to spend $1.9 billion on AI systems."

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Statistic 19

"Only 35% of energy businesses feel ready to adopt AI technologies."

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Interpretation

The statistics reveal a significant and growing trend towards the adoption of AI technology in the energy industry, with substantial potential benefits in various aspects of operations. From cost savings and efficiency improvements to predictive maintenance and increased profits, AI is poised to transform the energy sector in the coming years. While there is a clear acknowledgment of the value AI can bring, there's still a considerable gap between expectation and implementation, as a significant portion of energy companies have yet to integrate AI into their operations. However, as more organizations recognize the substantial advantages AI can offer, we can expect to see a rapid increase in investment and integration of AI technologies across the energy and utilities industry.

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