How Is AI Improving Operations of Energy Management Systems? Artificial intelligence (AI) is being used in electric grid systems to enhance their stability. The grid system refers to an interconnected network that stores energy and maintains the energy flow. These grids differ in size and technical parameters like transnational grids for continents, national grids for countries, and grids for buildings. These systems store energy from sources like electricity generation plants, wind power stations, and solar power plants. Inputs from multiple sources lead to the generation of large volume of data, which is analyzed by using AI to increase the stability of the systems. Moreover, the current trend of integrating internet of things (IoT) in energy management systems will drive the AI in energy management market at a CAGR of 18.9% during 2019–2024. The market has the potential to grow from $4,439.1 million in 2018 to $12,200.9 million by 2024. IoT is used for data insight services, remote controlling, software automation, and proactive monitoring in the energy management systems. This new-age technology helps in displaying the amount of energy consumed through sensors and smart meters at the machine and production line levels. In addition, energy companies are also deploying AI-enabled robots in large numbers, as these have the potential to revolutionize the operations and cost structure of such firms. Further, the usage of these robots helps in reducing the number of risks and improving the health of personnel, in the energy sector. The AI-supported robots can also inspect, certify, maintain, and repair energy installation units. Besides, these robots can also be used in decommissioning and cleaning up of nuclear waste. Categories under the solution segment of the AI in energy management market include demand management, infrastructure management, and renewable management. In 2018, the demand management category held the largest market share, on account of the increasing focus of utilities on predicting total energy demand by using AI-enabled smart meters, to provide required energy across households. Whereas, in the coming years, the renewable management category will observe the fastest growth, due to the escalating focus on generating energy from renewable sources like biomass, wind, thermal, solar, and geothermal, to reduce the global carbon footprint. These solutions are being used for forecasting energy output, and generating, distributing, and transmitting energy. In recent years, the energy sector has been increasingly deploying such solutions and AI technologies like computer vision, natural language processing (NLP), and machine learning (ML), to predict energy output. In the coming years, these technologies will be primarily used for generating energy, due to the burgeoning requirement for managing the total output of energy generated through solar power plants, thermal plants, and wind power stations, to match the temporal and spatial variations in real time. According to P&S Intelligence, the North American AI in energy management market generated the highest revenue in 2018, globally, and it is expected to maintain its position in the foreseeable future. This is attributed to the presence of key leading AI solution providers and supportive government policies in the region. The U.S. is expected to lead the North American market in the coming years, due to the active deployment of AI solutions in its energy sector to integrate energy generated from non-renewable and renewable sources into the total energy supply. Thus, the rising demand for energy and the increasing focus on grid stability will fuel the integration of AI solutions in the energy sector, globally. Read More: https://www.psmarketresearch.com/market-analysis/ai-in-energy-management-market

Why Will North America Dominate SOC as a Service Market? The major factor driving the global SOC as a service market is the rising count of cyberattacks and security threats. In 2021, the market stood at $4.4 billion, which is predicted to reach $11.8 billion by the end of this decade. In addition, the market will witness an 11.6% CAGR from 2021 to 2030. Furthermore, at least a 50% annual hike is observed in cyberattacks all around the world. Moreover, the market growth is owing to the work-from-home and BYOD trends, which is why the outbreak of COVID-19 had resulted in an increasing inclination toward SOCaaS solutions. Within the type segment, the detection service category generated the highest revenue in 2021, accounting for an about 37% market share, and it will continue to show this trend during this decade. This can be attributed to the surging integration of digital technologies in all industries. Moreover, because people are sharing massive amounts of data and depending increasingly on digital information than ever before, the incidence of targeted attacks is increasing globally. To deal with this situation, the requirement for fraud detection solutions among several corporations is on the surge. The SOC as a service market can be bifurcated into SMEs and large enterprises. The latter category comprises multinational enterprises, which are continuously developing and implementing the latest technologies to deal with all types of cyberattack, by detecting, preventing, and responding to it. Furthermore, there is a rising adoption of SOCaaS solutions by MNCs to enhance the security of financial resources, because they have numerous revenue streams and intricate corporate networks. Therefore, this category dominates the enterprise size segment of the industry. In 2021, the BFSI sector ruled the SOC as a service market with at least 45% revenue, on account of being prone to cyberattacks because all it deals with is money, shares, and financial bonds. Furthermore, the BFSI is the target of at least 70% of the cyberattacks very year. Moreover, the count of breached bank accounts will surge to over 30 billion by 2030. Moreover, BFSI corporations are the most attractive of all kinds of companies for cybercriminals, losing about $6 million for every data breach on average. The healthcare category, in the vertical segment of the SOC as a service market, is predicted to potentially grow in the coming years. This can be ascribed to the data records of healthcare organizations, which encompass every patient’s PII PCI data for billing purposes. Hence, there is a dire need to execute the security operation center as a service in this sector. Furthermore, unencrypted PII PCI data is transferred within laboratories, clinics, and hospitals, putting people’s lives in danger. In 2021, North America dominated the SOC as a service market, generating approximately 40% of the global revenue, because it is home to the highest count of security operation centers as a service vendors on this planet. This is because of the unending number of cyberattacks and data breaches in this region. Moreover, the skyrocketing demand for cloud-based platforms, technologies, and apps will create a demand for stronger security solutions, because the data of corporations and customers, including information related on payments, is on these platforms and apps. Hence, the rising concerns about data security among individuals and corporations will pave the way for market growth. Read More: https://www.psmarketresearch.com/market-analysis/soc-as-a-service-market

Importance of Smart Teaching and Learning Tools Smart Teaching and Learning is a wide term for education in the present digital age. It shows how cutting-edge technologies are allowing learners to digest knowledge and skills more efficiently, professionally, and suitably. Though the ongoing worldwide movement towards smart learning marks a vital pattern shift in modern learning, several individuals still find the concept indefinite. Smart teaching and learning items include software, hardware, education content, and services. There are several modes of smart teaching and learning, such as adaptive, blended, collaborative, virtual instructor-led training, and simulation-based. In smart teaching and learning settings, the content of education is obtainable in the form of text, audio, and video, which can be retrieved via several applications, thereby offering flexibility to learners. The main reason behind the everchanging emphasis of educational establishments toward smart teaching and learning is to advance the excellence of education and harness improved learning outcomes. Because of the increasing need for learning analytics solutions, including learning content management systems, reference management systems, library management systems and student management systems academic and corporate users are progressively becoming familiar with smart teaching and learning tools. Importance of Smart Teaching and Learning Tools Smart teaching and learning tools and methods offer numerous benefits to learners, such as flexibility in education, improved teaching or learning involvement accessibility to online information and tools, and viability to utilize and share information, which is boosting the smart teaching and learning industry development. Because of the rising progression in types of machinery, all kinds of establishments are rapidly accepting these methods to improve the skill sets of their workers and provide cooperative and efficient learning to them. Numerous steps are also taken by governments to transform orthodox learning approaches into digital learning, which is driving the demand for smart teaching and learning tools. Why Smart Teaching is Vital? As per the psychologists, visual learning while utilizing smart technology fundamentals such as graphs, images, videos, flow charts, etc., are turn out to be very effective and supports students in grasping the concepts swiftly. Smart classrooms also decrease interruptions, and thus, students can think more and remember more information, which is why smart teaching is considered the future of teaching. Advantages of Smart Classrooms Flexible Learning With a smart class, educators can familiarize the learning rapidity and style for their students. Instead of being limited to books for the majority of the lesson, teachers have a variety of tech tools at their disposal. Whether it’s communicating whiteboards or virtual and amplified reality, educators can utilize such smart classroom technologies in order to provide flexible learning practices. They can guarantee every student learns in the most efficient way, fulfilling their specific learning requirements. Excitement and Engagement What’s more appealing, analysis from a textbook or witnessing the learning topic with fascinating technologies, like virtual reality. Utilizing attractive smart classroom equipment, teachers can get their students’ devotion from exploring the impossible with ClassVR to making virtual biospheres in CoSpaces, educators can really trigger their students’ thoughts and advance learning engagement in the classroom. Hence, the Smart teaching and learning procedure denotes the transformation of teaching approaches from conventional classroom methods to smart learning by involving technologies in the process. Read More: https://www.psmarketresearch.com/market-analysis/smart-teaching-and-learning-market