The Energy-as-a-Service by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Energy-as-a-Service, The energy-as-a-service market size has grown strongly in recent years. It will grow from $64.57 billion in 2023 to $70.98 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rapid urbanization and from the rise in digitalization.
The energy-as-a-service market size is expected to see strong growth in the next few years. It will grow to $103.13 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to rapid industrialization, the increasing government support, the increasing distributed energy resources and the increasing number of smart meters. Major trends in the forecast period include focus on artificial intelligence, virtual power plants, focus on battery energy storage, use of cloud technology, focus on new subscription-based services, strategic partnerships and collaborations and increasing investments.
The rise in energy consumption across the globe is expected to boost the growth of the energy-as-a-service market going forward. Energy consumption refers to the energy used to perform an action. Energy is required for transportation, lighting, cooling, and heating in buildings, as well as for agriculture, manufacturing, and mining. For instance, in April 2022, according to International Energy Outlook, a report released by the US Energy Information Administration (EIA), a US-based government agency responsible for collecting, analyzing, and disseminating energy information, the total U.S. energy consumption in 2021 increased by around 4.7% compared to 2020 to 97 quads. Every energy-using industry saw higher energy use in 2021, with the transportation industry seeing the biggest annual rise in energy use of approximately 10.2%. Therefore, the rise in energy consumption across the globe is driving the growth of the energy-as-a-service market.
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The energy-as-a-service market covered in this report is segmented –
1) By Service: Energy Supply Services, Operation And Maintenance, Optimization And Efficiency Services
2) By Provider: Utility Service Provider, Third Party Provider
3) By End User: Residential, Commercial, Industrial
Technological development is a key trend gaining popularity in the ginger ale market. Major companies operating in the energy-as-a-service market are focused on developing new technological solutions using artificial intelligence (AI) to strengthen their position in the market. For instance, in October 2021, Infosys Ltd., an India-based company that provides business consulting, information technology, and outsourcing services, and Bharat Petroleum, a globally integrated energy company partnered to develop and pilot an energy-as-a-service (EaaS) solution to aid companies in increasing the energy efficiency of their infrastructure and achieving their carbon reduction objectives. Infosys and BP intend to co-develop a digital platform that can gather data from various energy assets and use artificial intelligence to optimize the energy supply and demand for power, heat, cooling, and EV charging. The companies would test the digital platform at the Infosys Pune Development Centre which simulates a small city with multiple energy generation, storage, and consumption sites. If the pilot is a success, they plan to implement this strategy with some clients and on additional Infosys campuses in India to assist in managing energy and lower emissions.
The energy-as-a-service market report table of contents includes:
- Executive Summary
- Energy-as-a-Service Market Characteristics
- Energy-as-a-Service Market Trends And Strategies
- Energy-as-a-Service Market – Macro Economic Scenario
- Global Energy-as-a-Service Market Size and Growth
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- Global Energy-as-a-Service Market Competitive Benchmarking
- Global Energy-as-a-Service Market Competitive Dashboard
- Key Mergers And Acquisitions In Energy-as-a-Service Market
- Energy-as-a-Service Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Schneider Electric SE
- Veolia Environment S.A.
- Engie SA
- Enel S.p.A,
- Siemens AG
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