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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