Energy as a service (EaaS) is an emerging concept. At a nascent stage currently, this concept is being practiced in emerging economies. EaaS includes management of different energy portfolio, asset management, energy supply, energy use, program management, and others. Market Research Future (MRFR) has released a research report about the global energy as a service (EaaS) market that considers evolvement for this market at 31.2% CAGR during the forecast period between 2018 and 2023. By value, the market can be worth the USD 10.6 bn by the end of the forecast period.
The most eminent market driver for global energy as a service (EaaS) market growth is the rising adoption of distributed energy resources (DER). Other factors enhancing the market growth include decarbonization of the global economy, the advancement of an integrated distributed energy resource (iDER), increased focus on sustainable energy, leveraging data analytics and artificial intelligence in the EaaS market, and transformation of transportation sector through electrification such as the introduction of electric vehicles.
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The global energy as a service (EaaS) market segmentation covers component and end users. MRFR is exploring the features of these segments to understand market trends.
Regarding component, this market has been segmented into services and solutions. The services segment has been sub-segmented into infrastructure services, maintenance services, and technical service. The solutions segment has been sub-segmented into building optimization solutions, energy portfolio advisory solution, load management & optimization solution, on-site energy supply, and off-site energy supply.
Based on end-users, the market has been segmented into government, residential, and industrial. The industrial segment has been sub-segmented into large enterprises and small & medium enterprises (SMEs). Government segment covers buildings and offices where government employees work and do their duties. The residential segment covers buildings and houses where people live.
The regional segmentation of the global energy as a service (EaaS) market covers Europe, North America, Asia Pacific, and rest of the world (RoW).
During the forecast period, Europe can be the fastest growing regional market due to the increasing adoption of renewable source of energy consumption and the presence of various energy service providers. Many vital country-specific markets in this region are France, Germany, and the UK. Other countries in Europe also add to market growth.
North America can witness huge market growth due to the presence of vital market players and increasing presence as well as the use of artificial intelligence (AI) and data analytics. The third factor responsible for the market growth is improving demand energy response among the industrial as well as residential areas in the USA and Canada. Mexico is the third important country-specific market in this region.
During the forecast period, the market in Asia Pacific region can experience moderate growth due to inefficient grid infrastructure. The seminal country-specific markets in this region are China, India, and Japan. Other countries of the Asia Pacific region also contribute significantly to the market.
The RoW segment covers Latin America and the Middle East & Africa (MEA). In Latin America, the market is small as infrastructure is not as advanced as in North America. In the MEA region, the market is small due to the limited availability of technology and lack of skilled professionals.
Major players in the global energy as a service (EaaS) market include Bernhard Energy (USA), Contemporary Energy Solutions (USA) Duke Energy (USA), EDF Energy (UK), Edison International (USA), Enel X (Italy), Enertika (Spain), Engie (France), General Electric (USA), Orsted (Denmark), Schneider Electric SE (France), Siemens AG (Germany), SmartWatt (USA), Solarus (Netherlands), Southern Company (USA), and WGL Energy (USA).
Latest Industry News
- Seeing the success of the Metered Energy Efficiency Transaction Structure (MEETS) developed at Seattle’s Bullitt Center, the Seattle City Council has adopted an ordinance that directs Seattle City Light to initiate pilot projects in up to thirty buildings via “Energy Efficiency as a Service” (EEaS) contracts modeled on MEETS. 21 JAN 2019
- Sweden government is seeking consulting service for energy declarations. Their queries and concern to include EaaS. 2 JUL 2019
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