Global Energy as a Service (Eaas) Market - Overview
The energy as a service (EaaS) market witnesses
rising sales. The market growth attributes to advancements in grid
infrastructure and the rising need to provide clean and highly efficient energy
supply. Besides, substantial investments to provide clean energy services to
residential, commercial, and government sectors drive the market growth.
Moreover, increasing demand for efficient management of different energy
portfolio escalates the market growth.
According to Market Research Future (MRFR), the
global Energy as a Service Market is expected to create a
valuation of approximately USD 51.8 BN by 2023, growing at 31.2% CAGR during
the forecast period (2018–2023). Augmenting demand for energy supply, program
management, energy use, and asset management boosts the growth of the market.
Besides, the increasing focus on providing demand
for energy solution compiling federal policies and standards increase the size
of the EaaS market. Additionally, the rising adoption of distributed energy
resources (DER) and decarburization of the global economy foster the growth of
the market. The spurting growth in the transportation sectors worldwide due to
electrification, such as the proliferation of electric vehicles (EVs) and
increased focus on sustainable energy, influence market growth.
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Furthermore, advances in integrated distributed
energy resources (iDER) push market growth, leveraging data analytics and
artificial intelligence in the EaaS market. Conversely, high deployment cost to
transform the existing grid infrastructure is a major factor projected to
impede the market growth. Also, the lack of skilled expertise poses challenges
to market growth. Nevertheless, increasing the deployment of microgrids
worldwide would support market growth throughout the assessment period.
Energy as a Service Market - Segments
The report is segmented into three dynamics;
By Component :
Solution (Energy Portfolio Advisory, On-Site Energy Supply, Off-Site Energy
Supply, Building Optimization, Load Management & Optimization Solution,
others) and Services (Infrastructure, Technical & Maintenance, other
Support Services).
By End User :
Residential, Government, and Industrial (large enterprises and small &
medium enterprises).
By Regions
: Asia Pacific, Americas, Europe, and the Rest-of-the-World.
Global EaaS
Market - Regional Analysis
Europe dominates the global energy as a service
market. The region is primarily focused on large-scale renewable technology
deployment, such as offshore wind that augments the market demand. Besides, the
largest market share attributes to the presence of energy service providers
such as EDF Energy (UK) and Schneider Electric SE (France) and increasing
adoption of renewable sources of energy consumption. Moreover, substantial
investments in grid and transmission infrastructures boost the growth of the
regional market.
North America is another lucrative market for energy
as a service. The market growth attributes to rapid development, such as artificial
intelligence and data analytics, and increasing the energy demand. Increasing
government initiatives and utility-scale policy in the region support the
growth of the market. Additionally, the strong presence of several notable
players and advanced grid systems in the region drives the growth of the
market. Furthermore, the rising trend of renewable energy generation systems in
the residential sector and increasing demand for power substantiate the
regional market growth.
Asia Pacific energy as a service market is growing
at a rapid pace. Factors such as the continually growing demand for energy due
to the ever-increasing population and rapid industrialization &
urbanization fuel the regional market growth. Moreover, the increasing emphasis
on the low-cost power generation boosts the development of the regional market.
Widening uptake of advanced renewable technologies and microgrids across
commercial & industrial sectors increases the regional market size.
Global Energy as a Service Market - Competitive Landscape
Highly competitive, the EaaS market appears to be
fragmented due to the presence of several well-established industry players.
These players initiate strategic approaches such as mergers & acquisitions,
collaboration, expansion, and technology launch to gain a larger competitive
advantage.
Major Players
Players leading the global EaaS market are EDF
Energy (UK), Duke Energy (US), Edison International (US), Southern Company
(US), Engie (France), Schneider Electric SE (France), Siemens AG (Germany),
General Electric (US), WGL Energy (US), Orsted (Denmark), SmartWatt (US), Enel
X (Italy), Bernhard Energy (US), Solarus (Netherlands), Enertika (Spain), and
Contemporary Energy Solutions (US), among others.
Industry/Innovation/Related News:
September 23, 2020 ---- Eliq (Sweden), startup
developing Customer engagement software, announced rising €5M in a Series A
round of funding. The new funds would enable Eriq to bring more solutions to
the market quickly. Moreover, the investment would help the company
aggressively expand its sales and marketing efforts and accelerate product
development in both Gothenburg and London. Eriq develops customer engagement
software for energy suppliers, which use energy insights and self-service tools
to drive engagement, satisfaction, and loyalty.
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