Power Predictions 2024 - Thematic Research

Power Predictions 2024 - Thematic Research


Summary

In this report, we identify the top 20 themes that will impact the power sector in 2024. For each theme, we offer a series of predictions, identify winners and losers, and point you to further reading.
We classify our top themes for 2024 into four groups. The major technology themes impacting the power sector in 2024 will be artificial intelligence (AI), big data, blockchain, cloud, cybersecurity, digitalization, the Internet of Things (IoT), the metaverse, and robotics.
The major industry themes impacting the power sector in 2024 will be electric vehicles, energy storage, energy transition, hydrogen, nuclear, renewable energy, smart grid, carbon emissions, and distributed generation.
The major macroeconomic theme impacting the power sector in 2024 will be geopolitics.
The major environmental, social, and governance (ESG) theme impacting the power sector in 2024 will be ESG-environmental.

Scope

The report covers the top 20 themes that would impact the power industry in 2024.
It provides predictions with respect to technology theme, macroeconomic theme, industry theme, and ESG theme in the power sector.
The report covers the top themes that includes artificial intelligence, big data, blockchain, cloud, cybersecurity, digitalization, the internet of things, the metaverse, robotics, electric vehicles, energy storage, energy transition, hydrogen, nuclear, renewable energy, smart grid, carbon emissions, distributed generation, geopolitics, and ESG-environmental.
It provides an overview of deal trends, published patents and job trends for each theme.
The report identifies winners and losers with respect to themes of power predictions 2024.
It discusses about the impact and significance of each theme on power sector in the coming years.

Reasons to Buy

The report provides -

An overview of the top 20 themes that will impact the power sector in 2024.
Predictions about technology themes such as artificial intelligence, big data, blockchain, cloud, cybersecurity, digitalization, the internet of things, the metaverse, and robotics.
Power predictions on macroeconomic theme - geopolitics.
Predictions on industry themes such as electric vehicles, energy storage, energy transition, hydrogen, nuclear, renewable energy, smart grid, carbon emissions and distributed generation on power utilities.
Predictions on ESG theme - environmental.
Insight to thematic research ecosystem-an integrated global research platform for an easy-to-use framework to track all themes and its impact on the power sector.
An outlook on how each theme will make a significant impact on power utilities in terms of application and investment.


Executive Summary
2024 Theme Map
Artificial Intelligence
AI will help in remote power management
AI will help prevent grid failures
Generative AI will potentially impact the energy and utility industry
Winners and losers
Big Data
Big data analytics will optimize the smart grid
Big data will have diverse applications in the power industry
Investments in big data will experience substantial growth
Leading economies will boost big data technology adoption
Winners
Blockchain
Blockchain will create next-gen energy trading platform
Blockchain will play a key role in microgrids and virtual power plants
Blockchain as a service will help sustainable growth
Winners
Further reading
Cloud
The cloud market will reach $1.2 trillion by 2026
Cloud will address the energy transition challenge
Cloud is a viable cybersecurity solution
Cloud will address the challenge of an aging workforce
Winners
Further reading
Cybersecurity
The cybersecurity market will be $335 billion by 2026
Increased need for skilled professionals to deal with cyberattacks
Power utilities must include cybersecurity in business strategy
Winners and losers
Further reading
Digitalization
Power utilities will increasingly adopt digital solutions
Power system digitalization is crucial to the energy transition
Investment in digitalization will continue to increase
Winners and losers
Further reading
Internet of Things
IoT will protect renewable energy systems
IoT will help in data analysis to monitor decarbonization
The IoT market will grow in condition monitoring and smart meter application
Winners and losers
Further reading
Metaverse
The metaverse market will flourish in the coming years
AR and VR are crucial technologies of the metaverse
The metaverse will enhance power generation through virtual power plants
Metaverse will advance operational excellence
Winners
Further reading
Robotics
The robotics market will surge
AI will transform robotics in the power sector
Robotics will play a crucial role in the energy transition
Robotics will impact the future of work
Winners
Further reading
Electric Vehicles
The EV market will continue to expand
The EV charging infrastructure market will flourish
Electric vehicle growth will require gigafactory investment
Winners and losers
Further reading
Energy Storage
Battery storage power generation capacity will continue to grow
Energy storage will accelerate the transition
Energy storage will become a priority in the future
China will lead the battery energy storage market
Winners
Further reading
Energy Transition
Renewable power will accelerate the energy transition
Investment will continue to grow in energy transition technologies
A timely critical mineral supply is essential for energy transition objectives
Winners
Further reading
Hydrogen
Green hydrogen will boost renewable production capacity
Electrolyzers will play a key role in hydrogen production
Polices will drive hydrogen adoption
Winners and losers
Further reading
Nuclear
Global nuclear energy capacity will be tripled
Nuclear energy will contribute to emissions reduction
New reactors are being planned worldwide
Asian countries will lead nuclear power development
Winners
Further reading
Renewable Energy
Renewable power generation will continue to soar high
Solar PV additions will continue in 2024
Renewable energy jobs will continue to increase
Winners and losers
Further reading
Smart Grid
Digitalization in electricity grids will grow
Grid modernization will boost transmission and distribution infrastructure
Cybersecurity will gain traction in smart grids
Winners and losers
Further reading
Carbon Emissions
The renewable energy transition will expedite net zero targets
CCUS will play a significant role in emission reduction
Companies should avoid carbon offsets
Winners and losers
Further reading
Distributed Generation
Distributed generation will support decarbonization
Investment in distributed generation will grow
Distributed generation will benefit power utilities
Microgrid demand will grow
Winners and losers
Further reading
Geopolitics
Geopolitics will influence energy supply dynamics
Geopolitics outlook 2024
The Ukraine-Russia conflict will continue to impact geopolitically
Winners
Further reading
ESG-Environmental
ESG 2.0 will mainly focus on the ‘environmental’ component
ESG reporting will become mandatory
Green industry policies will help towards decarbonization goals
Winners and losers
Further reading
Glossary
Further Reading
GlobalData reports
Our Thematic Research Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Glossary
Table 2: GlobalData reports
List of Figures
Figure 1: Our 2024 theme map shows the biggest themes driving growth in the power sector
Figure 2: Artificial Intelligence
Figure 3: Big Data
Figure 4: Blockchain
Figure 5: Cloud
Figure 6: Cybersecurity
Figure 7: Digitalization
Figure 8: Internet of Things
Figure 9: Metaverse
Figure 10: Robotics
Figure 11: Electric Vehicles
Figure 12: Energy Storage
Figure 13: Energy Transition
Figure 14 Hydrogen:
Figure 15: Nuclear
Figure 16: Renewable Energy
Figure 17: Smart Grid
Figure 18: Carbon Emissions
Figure 19: Distributed Generation
Figure 20: Geopolitics
Figure 21: ESG-Environmental
Figure 22: Our five-step approach for generating a sector scorecard

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