The Latin America, Middle East and Africa AI In Energy Market is expected to witness market growth of 32.1% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA AI In Energy Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.41 billion by 2031. The Argentina market is registering a CAGR of 33% during 2024-2031. Additionally, the UAE market is expected to showcase a CAGR of 30.9% during 2024-2031.
Collaboration between energy companies, technology providers, and research institutions is crucial to successfully adopting AI in energy market. Partnerships facilitate knowledge sharing, technological advancements, and the development of innovative solutions tailored to specific energy challenges. This collaborative approach accelerates the implementation of AI technologies and enhances their effectiveness in addressing energy-related issues.
Moreover, the increasing investment in AI technologies and infrastructure is driving the adoption of AI in the energy sector. Energy companies are allocating substantial resources to develop and implement AI solutions, recognizing the potential for improved efficiency, reduced costs, and enhanced sustainability.
The burgeoning AI sector significantly influences the expansion of AI in Brazil's energy sector. The energy sector is progressively utilizing AI-driven technologies to improve efficiency and sustainability, as Brazil is a leader in adopting AI across various industries. Integrating AI into energy systems is crucial for managing the country’s growing energy needs, particularly with Brazil’s emphasis on smart infrastructure and sustainable energy projects. Brazil's energy strategy necessitates optimizing energy infrastructure, enhancing demand forecasting, and enhancing renewable energy sources, such as solar and wind.
The Brazil market dominated the LAMEA AI In Energy Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.41 billion by 2031. The Argentina market is registering a CAGR of 33% during 2024-2031. Additionally, the UAE market is expected to showcase a CAGR of 30.9% during 2024-2031.
Collaboration between energy companies, technology providers, and research institutions is crucial to successfully adopting AI in energy market. Partnerships facilitate knowledge sharing, technological advancements, and the development of innovative solutions tailored to specific energy challenges. This collaborative approach accelerates the implementation of AI technologies and enhances their effectiveness in addressing energy-related issues.
Moreover, the increasing investment in AI technologies and infrastructure is driving the adoption of AI in the energy sector. Energy companies are allocating substantial resources to develop and implement AI solutions, recognizing the potential for improved efficiency, reduced costs, and enhanced sustainability.
The burgeoning AI sector significantly influences the expansion of AI in Brazil's energy sector. The energy sector is progressively utilizing AI-driven technologies to improve efficiency and sustainability, as Brazil is a leader in adopting AI across various industries. Integrating AI into energy systems is crucial for managing the country’s growing energy needs, particularly with Brazil’s emphasis on smart infrastructure and sustainable energy projects. Brazil's energy strategy necessitates optimizing energy infrastructure, enhancing demand forecasting, and enhancing renewable energy sources, such as solar and wind.
List of Key Companies Profiled
- Siemens AG
- ABB Group
- Schneider Electric SE
- GE Vernova Group
- Hitachi, Ltd
- Honeywell International Inc.
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Google LLC
- Microsoft Corporation
- AutoGrid Systems, Inc.
Market Report Segmentation
By Type
- Solutions
- Services
By Application
- Renewable Energy Management
- Demand Forecasting
- Robotics
- Safety Security & Infrastructure
- Other Application
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA AI In Energy Market by Type
Chapter 6. LAMEA AI In Energy Market by Application
Chapter 7. LAMEA AI In Energy Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Siemens AG
- ABB Group
- Schneider Electric SE
- GE Vernova Group
- Hitachi, Ltd
- Honeywell International Inc.
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Google LLC
- Microsoft Corporation
- AutoGrid Systems, Inc.
Methodology
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