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The energy and utilities industries are undergoing major changes, due to digitation many energy and utility industries are shifting from a centralized energy generation model to a decentralized model. In addition, industrial and commercial industries are looking for new and innovative technologies as well as business models to fulfil their growing energy needs. Hence, such customers and developing grid factors are driving the service-based energy solutions.
Moreover, the energy as a service is mainly about the organizations partnering with external experts to regain control over energy spending. There are numerous companies that are considering to move into energy services as it holds the major potential in upcoming years due to the development of smart cities and electric vehicles.
Increase in government funding and supportive government policies to encourage renewable energy sources
The energy sector has been experiencing major attention from various sectors for the past few years, due to increasing concerns over the quick depletion of natural energy resources. However, various governments globally are coming up with new regulations and policies to support the development of renewable and sustainable energy resources, which in turn driving the demand for energy as a service solution. For instance, countries such as the U.S., Germany, UK, India, and others have already mandated the deployment of smart meters. Moreover, smart city initiatives are also anticipated to provide lucrative opportunities for the market in the near future.
Deployment and integration and challenges
The automation across energy and utility industries is on the rise. However, several entities, public and private organizations are facing major issues in integrating and installing smart energy infrastructures and energy services. Also, the high costs linked with the integration and deployment of new energy services in existing grids and building infrastructures are hampering the market growth.
The commercial segment is anticipated to dominate the Energy as a Service market during the forecast period
The increasing demand for efficient, uninterrupted, and reliable electricity sources is the major factor driving the market growth in this segment. In addition, commercial buildings continuously need electricity supply that comprises various offices. For example, IT organizations, production plants, and manufacturing require a constant supply of electricity and cannot afford electricity interruptions in energy supply as it hampers their production lines hamper business. Therefore, such factors are expected to drive market growth in this segment.
Asia-Pacific will lead the growth in this market
It is expected that North America will hold the largest market share in the global Energy as a Service market. However, Asia-Pacific (APAC) is projected to hold the highest CAGR during the forecast period. North America is estimated to dominate the global Energy as a Service Market due to, the existence of major market players in this region. In addition, the growing focus on energy efficiency and an increase in the need to diminish the carbon footprint are the major factors boosting the market growth in this region.
On the contrary, the growth of Energy as a Service market in Asia-Pacific is mainly attributed to the increasing government spending and rising smart city initiatives. In addition, the rising energy prices and an increase in the need to diminish reliance on import fuels are also the major factors boosting the market growth in this region.
Key Market Players
• Engie
• Johnson Controls
• Edison Energy
• Orsted
• Siemens AG
• General Electric (GE)
• Honeywell Inc.
• Schneider Electric
• Bernhard Energy Solutions
• EDF Renewable Energy
• Others
Market Segments: Energy as a Service Market
Key Sources
• Industry Associations
• Patent Websites
• Company Annual Reports
• Company Websites
• Key industry leaders
• Ministry of Electronics & IT (Govt. of India) articles
• IEEE journals
• Technology consultants
• System Integrators
• BFSI experts
• Others
Key Questions Answered
• What are the key growth regions and countries?
• What are the important types and technologies being used?
• What are the market players doing, in terms of research and development?
• Which are the new applications for this market?
• What are the integrations happening?
• What are the recent news, developments, mergers, or large value deals?
Key Stakeholders
• Products & solution providers
• System Integrators
• Regulatory Authorities
• Research and Innovation Organizations
• Technocrats
• Suppliers and Distributors
• Other Channel Partners
The energy and utilities industries are undergoing major changes, due to digitation many energy and utility industries are shifting from a centralized energy generation model to a decentralized model. In addition, industrial and commercial industries are looking for new and innovative technologies as well as business models to fulfil their growing energy needs. Hence, such customers and developing grid factors are driving the service-based energy solutions.
Moreover, the energy as a service is mainly about the organizations partnering with external experts to regain control over energy spending. There are numerous companies that are considering to move into energy services as it holds the major potential in upcoming years due to the development of smart cities and electric vehicles.
Increase in government funding and supportive government policies to encourage renewable energy sources
The energy sector has been experiencing major attention from various sectors for the past few years, due to increasing concerns over the quick depletion of natural energy resources. However, various governments globally are coming up with new regulations and policies to support the development of renewable and sustainable energy resources, which in turn driving the demand for energy as a service solution. For instance, countries such as the U.S., Germany, UK, India, and others have already mandated the deployment of smart meters. Moreover, smart city initiatives are also anticipated to provide lucrative opportunities for the market in the near future.
Deployment and integration and challenges
The automation across energy and utility industries is on the rise. However, several entities, public and private organizations are facing major issues in integrating and installing smart energy infrastructures and energy services. Also, the high costs linked with the integration and deployment of new energy services in existing grids and building infrastructures are hampering the market growth.
The commercial segment is anticipated to dominate the Energy as a Service market during the forecast period
The increasing demand for efficient, uninterrupted, and reliable electricity sources is the major factor driving the market growth in this segment. In addition, commercial buildings continuously need electricity supply that comprises various offices. For example, IT organizations, production plants, and manufacturing require a constant supply of electricity and cannot afford electricity interruptions in energy supply as it hampers their production lines hamper business. Therefore, such factors are expected to drive market growth in this segment.
Asia-Pacific will lead the growth in this market
It is expected that North America will hold the largest market share in the global Energy as a Service market. However, Asia-Pacific (APAC) is projected to hold the highest CAGR during the forecast period. North America is estimated to dominate the global Energy as a Service Market due to, the existence of major market players in this region. In addition, the growing focus on energy efficiency and an increase in the need to diminish the carbon footprint are the major factors boosting the market growth in this region.
On the contrary, the growth of Energy as a Service market in Asia-Pacific is mainly attributed to the increasing government spending and rising smart city initiatives. In addition, the rising energy prices and an increase in the need to diminish reliance on import fuels are also the major factors boosting the market growth in this region.
Key Market Players
• Engie
• Johnson Controls
• Edison Energy
• Orsted
• Siemens AG
• General Electric (GE)
• Honeywell Inc.
• Schneider Electric
• Bernhard Energy Solutions
• EDF Renewable Energy
• Others
Market Segments: Energy as a Service Market
Key Sources
• Industry Associations
• Patent Websites
• Company Annual Reports
• Company Websites
• Key industry leaders
• Ministry of Electronics & IT (Govt. of India) articles
• IEEE journals
• Technology consultants
• System Integrators
• BFSI experts
• Others
Key Questions Answered
• What are the key growth regions and countries?
• What are the important types and technologies being used?
• What are the market players doing, in terms of research and development?
• Which are the new applications for this market?
• What are the integrations happening?
• What are the recent news, developments, mergers, or large value deals?
Key Stakeholders
• Products & solution providers
• System Integrators
• Regulatory Authorities
• Research and Innovation Organizations
• Technocrats
• Suppliers and Distributors
• Other Channel Partners