Report ID : 10169103 |
Published Date : 21 Oct 2022 |
Report Format : PDF,PPT |
Delivery Timeline :48-72 Business Hours
Energy-as-a-Service Market By Type (Energy Saving, Energy Storage, and Energy Creation), By End-user (Commercial and Residential), By Region (North America, Europe, Asia Pacific, Middle East Africa, and Latin America) – Global Forecast up to 2025
The market research report by Kenneth Research includes a detailed segmentation of the Global Energy-as-a-Service (EaaS) Market By Type (Energy Saving, Energy Storage, and Energy Creation), By End-user (Commercial and Residential), and By Region (North America, Europe, Asia Pacific, Middle East Africa, and Latin America). This market research report identifies Schneider Electric, General Electric, Siemens, Johnson Controls, Honeywell, Engie, WGL Energy, EDF Renewable Energy, Veolia, and Orsted as the market leaders operating in the global EaaS market.
Overview of the Global Energy-as-a-Service Market
Infoholic’s market research report predicts that the global energy-as-a-service market will grow at a CAGR of more than 10% during the forecast period. The market for EaaS is determined by the increased interest in subscription-basis energy consumption and encouraging renewable sources of energy from decentralized energy sources.
The EaaS model is changing power purchases and energy management decisions. EaaS offers options in the energy management of buildings and reduces the cost of spending on energy. With the focus on energy conservations and renewable energy sources, building managers are looking for ways to reduce green gas emission and maximize power consumption.
According to Kenneth Research analysis, North America accounts for the largest share of the global EaaS market in 2019. With many building technology vendors focusing on energy-efficient buildings, they are expected to dominate the market during the forecast period. Many enterprises in this region are concentrating on enhancing the energy-efficient model and reduce costs in delivering/consuming energy as per needs. The Asia Pacific region is expected to witness the fastest growth rate due to the increasing customer base of large enterprises. Even though the energy-as-a-service concept is typically new in the Asia Pacific region, energy remains a critical component for governments as well; the depletion of fossil fuels for electricity generation is a major concern. The growth of the EaaS market is expected to enhance the green buildings concept, and proper support from governments would lead to usage-based metering of energy.
Energy-as-a-Service Market Research Competitive Analysis and Key Vendors
The report covers and analyzes the energy-as-a-service market. The major energy and utility vendors are focusing on on-demand energy consumption along with building automation and energy conservation. The key players in the EaaS market are adopting various organic as well as inorganic growth strategies such as collaborations & partnerships, joint ventures, and few other strategies to be in a strong position in the market.
Few of the Key Vendors in the Energy-as-a-Service Market:
• Schneider Electric
• General Electric
• Siemens
• Johnson Controls
• Honeywell
• Engie
These companies are striving in the market sphere by acquiring clients across regions to stay ahead in the competitive world. For instance, Schneider Electric acquired Renewable Choice Energy to diversify their overall energy strategy while focusing on clean energy sources. Siemens acquired KACO New Energy’s solar inverter business to enhance its decentralized product portfolio with advanced technologies.
There are few other vendors that have been studied based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D for analysis of the entire ecosystem.
Energy-as-a-Service Market Segmentation By Type
• Energy Saving
• Energy Storage
• Energy Creation
The energy storage segment majorly contributes to the market growth. The energy saving segment is expected to grow at the highest CAGR during the forecast period 2019–2025.
Energy-as-a-Service Market Segmentation By End-user
• Commercial
• Residential
The commercial segment is estimated to hold the larger market share in 2019, and this trend will continue during the forecast period 2019–2025.
Energy-as-a-Service Market Research Benefits
The report provides an in-depth analysis of the EaaS market. EaaS combines various technologies for saving, distributing, and control energy consumptions. It analyzes multiple customer application areas, intelligent features, and automated controls in the EaaS market. EaaS is expected to offer next-generation energy management and the capability to handle more customers with the pay-as-you-go model through decentralized energy storage models. Vendors are focusing on implementing and distributing energy to the residence and commercial buildings. With EaaS, a building manager can decide overhead consumption. It helps to maintain the energy portfolio to meet their sustainability and consumption goals. It also assists new entrants to provide the renewable energies as companies are moving toward decentralized supplies, which would help new vendors to enter the market and deliver energy requirements through various medium. The report discusses the market in terms of type, end-user, and region. Furthermore, the report provides details about the major challenges impacting the market growth. The EaaS vendors are focusing on penetrating geographies to widen their reach and gain new customers with greater partner networks. This is termed as the future of energy management and is looked upon as the future for electric vehicles, smart cities, and energy storage. The EaaS market is relatively very new; however it looks promising as enterprises are looking for easy availability of energy sources from decentralized facility from energy vendors and helps in billing from various equipment to deliver energy requirements. It also enhances the service delivery of the vendors.
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