Market overview
In 2020, the global Energy as a Service (EAAS) market had projected to account for the market value at USD 27.86 Billion and
is further estimated to hold USD 80.80 Billion during the assessment time frame
of 2028. However, the market is anticipated to register 31.2% of CAGR during
the analysis period.
The worldwide Energy as a Service (EAAS) market is
driving due to the rising adoption of distributed energy sources (DER),
decarbonization of the world’s economy, the shifting focus of manufacturers
towards the use of sustainable energy and the rising use of Energy as a
service.
However, the rising cost of the transformed advanced grid system and the
lack of expertise among electricians or technicians can hinder the growth of
the Energy as a Service (EAAS) market during the forecast
period.
Market segmentation
Various market segments are fueling the Energy as a Service
(EAAS) market growth at a significant rate. It includes the service
type, components, and end-users.
Based on the service type segment, the current market has been
classified into operational and maintenance services, energy supply services,
and energy efficiency and optimization services. Of these, the energy supply
segment has contributed highly to the present market growth as compared to
other segments. Also, this segment is projected to be the fastest-growing
during the forecast time frame due to the rising focus of key players on
renewable sources for the energy supply as it reduces carbon dioxide emission,
produces efficient Energy, cost-effectiveness, and is environment
friendly.
On the basis of component segment, the EAAS industry has been divided
into two components, such as services and solutions. Further, the service
segment has been sub divided into technical and maintenance services,
infrastructure services, and other support services. On the other hand, the
solution segment has been further sub divided into on-site energy supply, load
management & optimization solution, energy portfolio advisory solutions,
building optimization solutions, and off-site energy supply. The present market
has been segregated into industrial, residential, and government in terms of
the end-user segment. Further, the industrial segment is sub-segregated into
large scale enterprises and small & medium-scale enterprises.
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Regional analysis
The major regions of the globe have been coved by Energy as a
Service (EAAS) market, which includes Asia Pacific, North America, Latin
America, Europe, South America, and the rest of the world.
Out of all, the European regional market is projected to hold the
leading position during the assessment time frame due to the increasing
adoption of renewable sources for energy consumption. Additionally, major
market players like Schneider electric se, EDF Energy, and others in the region
are fueling the regional market growth.
Further, the second-largest market is considered the North American
market for the research period because of the growing development in data
analytics and artificial intelligence (AI).
Industry news
In August 2020, prominent players like SCHNEIDER ELECTRIC and HUCK
capital signed a partnership contract to provide clean energy as a service to
commercial and industrial buildings.
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