Abstract
Projections of the demand for fuel and energy resources are an essential and fundamental part of the research that underpins the process of developing and making strategic-level decisions as applied to the national and regional energy and economic security. Identification, analysis, and study of the impact of factors and interrelationships in the energy and economy on the volume and structure of the demand for energy carriers is an integral part of the methodology for long-term projections of energy consumption. The use of the digital technology related to monitoring, acquisition, processing of large amounts of data across all sectors of the economy and everyday life of the population as of now already consumes more than 5% of electricity in the world and its further growth is expected. The study analyzes the possibilities of application of individual digital technologies in various sectors of the economy. Some estimates of their impact on demand for different types of fuel and energy resources are given. We note a great deal of uncertainty in the existing estimates of future energy consumption due to the government policy in this area, changes in the lifestyle patterns of the population, and the speed of development and adoption of technology innovations.
Highlights
The development of the global economy is accompanied by a growing demand for primary energy
One of the new factors of scientific and engineering progress that radically redefines the interrelation between energy consumers and energy producers is the introduction of the digital technology in the economy and energy industry [2,3,4]
The emergence and spread of technologies such as Internet of Things (IoT) and Internet of Services (IoS), smart home and smart city systems are transforming the requirements for running businesses, providing services, and housekeeping and are capable of drastically changing the model of the economy and prevailing lifestyle patterns
Summary
The development of the global economy is accompanied by a growing demand for primary energy. Long-term projections of the demand for energy carriers is a multistage and multilevel process of studying the impact of factors and interrelationships under the changing conditions of energy and economic development on the volumes and structure of fuel and energy resources dynamics. The spread of digital technologies affects other sectors of the economy, providing them with new opportunities for development and control For this reason, the analysis of the prospects for the application of the digital technology in certain sectors of the economy and its impact on the level of demand for energy carriers becomes essential and relevant. Reducing the cost of computing power, the development of cloud technologies and Big Data, progress in deep analysis, including machine learning and artificial intelligence, opens up new opportunities for monitoring, analysis, and study of processes to obtain useful information, forming new knowledge and ideas. The emergence and spread of technologies such as Internet of Things (IoT) and Internet of Services (IoS), smart home and smart city systems are transforming the requirements for running businesses, providing services, and housekeeping and are capable of drastically changing the model of the economy and prevailing lifestyle patterns
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
