AI-Driven Annual Energy Analytics Revenue Expected to Exceed $18 Billion in 2028
The comprehensive Bidgely UtilityAI platform for global utilities was recently recognized for its innovation in the Home Energy Management (HEM) market by Navigant Research’s Home Energy Management Overview Q3 2019 report. The report provides a comprehensive overview of the HEM market, its key players, important technology trends and outlines key HEM market drivers. The shift of artificial intelligence (AI) becoming mainstream was also cited in the report, covering how the HEM market will increasingly be driven by data analytics and the emerging disciplines of machine learning and artificial intelligence.
“We are proud to be recognized for our AI innovations built on zero sensors and actual customer data – whether they have a smart meter or not – and our momentum with customers throughout North America, Europe and Asia Pacific.”
“Global utilities acknowledge that AI is the future of business, and our patentedAI-powered platform provides the robust portfolio of built-in solutions to achieve today’s personalization, digitalization and monetization goals while also building foundations for the future,” said Bidgely CEO Abhay Gupta. “We are proud to be recognized for our AI innovations built on zero sensors and actual customer data – whether they have a smart meter or not – and our momentum with customers throughout North America, Europe and Asia Pacific.”
Navigant Research estimates energy analytics revenue is expected to grow from $5.98 billion in 2019 to $18.1 billion in 2028, citing that artificial intelligence—along with advancements in computer processing, cloud and edge computing can help enterprises address common energy industry issues. However, AI stands out as the one technology that turns data into business value and can address pressure to improve profits through cost-cutting, increased competition and new business model creation.
For the past eight years Bidgely has been operationalizing AI solutions for utilities, amassing deep learning about global consumer and appliance behavior into the UtilityAI platform. In addition to omnichannel customer engagement (email, SMS, mobile, web, paper, voice), the company’s broad platform encompasses utility call center and business intelligence solutions to optimize experience with personalized data and actionable insights; maximize revenue with new offers and tailored services; and enhance grid edge visibility. Additionally, a recent partnership with EnergyHub entered Bidgely into the smart home controls market.
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