Visiongain has published a new report entitled Energy as a Service (EaaS) Market Report 2024-2034: Forecasts by Payment Model (Subscription-Based, Pay-As-You-Go, Contract-Based), by End-user (Industrial, Commercial, Residential, Other), by Service Type (Energy Supply Services, Energy Monitoring and Control, Predictive Maintenance, Operational and Maintenance Services, Other), by Component (Energy Management Systems (EMS), Building Management Systems (BMS), Data Analytics Platforms, Energy Storage Systems, Distributed Generation, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies.
The global energy as a service (EaaS) market is estimated at US$86.0 billion in 2024 and is projected to grow at a CAGR of 12.6% during the forecast period 2024-2034.
Increasing Energy Demand from Emerging Economies
Emerging economies are experiencing rapid industrialisation and urbanisation, leading to a surge in energy demand. EaaS provides an effective solution to meet this demand sustainably and efficiently. Countries like India and China are investing heavily in EaaS to support their growing energy needs while promoting energy efficiency and reducing environmental impact. EaaS models help these economies to leapfrog traditional energy infrastructure, adopting modern, smart, and sustainable energy systems that support long-term economic growth and development.
Corporate Sustainability Goals Are a Major Driver for the EaaS Market
Many companies are committing to ambitious sustainability targets, including achieving carbon neutrality and using 100% renewable energy. EaaS providers offer solutions that help companies meet these goals through energy efficiency measures, renewable energy adoption, and carbon footprint reduction strategies. For example, tech giants like Google and Microsoft have leveraged EaaS solutions to power their data centres with renewable energy, significantly reducing their environmental impact and setting industry benchmarks for sustainability.
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How will this Report Benefit you?
Visiongain’s 347-page report provides 97 tables and 163 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the energy as a service (EaaS) market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Energy As A Service (EaaS). Get financial analysis of the overall market and different segments including payment model, end-user, service type, and component and capture higher market share. We believe that there are strong opportunities in this fast-growing energy as a service (EaaS) market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Energy Resilience and Security
Energy resilience and security are critical concerns for businesses and governments alike, driving the adoption of EaaS solutions. EaaS provides robust energy management systems that enhance the reliability and stability of energy supply, particularly important in the face of natural disasters, cyber threats, and other disruptions. Companies like Johnson Controls are offering resilient energy solutions that ensure continuous energy supply and operational continuity, safeguarding against potential energy crises and enhancing overall security.
Increased Focus on Decentralised Energy Systems
The shift towards decentralised energy systems is a significant driver for the EaaS market. Decentralised energy systems, which include microgrids and localised energy generation, offer greater control and flexibility over energy production and consumption. EaaS models facilitate the implementation and management of these systems, providing businesses and communities with reliable, efficient, and sustainable energy solutions. This approach reduces reliance on centralised grids, lowers transmission losses, and enhances energy independence.
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Where are the Market Opportunities?
Collaborative Ecosystems and Strategic Partnerships
The EaaS market offers ample opportunities for collaboration and strategic partnerships between various stakeholders, including technology providers, energy companies, financial institutions, and government agencies. By forming collaborative ecosystems, these stakeholders can leverage each other’s strengths, share resources, and drive innovation in the energy sector.
For example, partnerships between technology providers and energy companies can lead to the development of innovative EaaS solutions that integrate cutting-edge technologies such as AI, IoT, and blockchain. Financial institutions can provide the necessary capital and financial expertise to support the deployment of these solutions, while government agencies can create favourable regulatory environments and offer incentives for adopting sustainable energy practices.
Growing Market for Energy Efficiency Retrofits
The market for energy efficiency retrofits in existing buildings presents a significant opportunity for the EaaS market. Many commercial and industrial buildings are energy inefficient, leading to high energy costs and significant carbon emissions. EaaS providers can offer energy efficiency retrofits as part of their service offerings, helping building owners and operators reduce energy consumption and improve sustainability.
Energy efficiency retrofits can include a range of measures such as upgrading lighting systems, installing energy-efficient HVAC systems, improving insulation, and implementing smart energy management systems. These measures can significantly reduce energy consumption and costs, providing a quick return on investment for building owners. Moreover, energy efficiency retrofits can enhance the comfort and productivity of building occupants, making the buildings more attractive to tenants and customers.
Competitive Landscape
The major players operating in the energy as a service (EaaS) market are Bernhard, EDF Renewables, Enel X, Enertika, Engie SA, General Electric Company, Honeywell International Inc., Schneider Electric SE, Siemens AG, Wendel energy service, . These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
- 11June 2024, Honeywell and NXP® Semiconductors N.V. inked a Memorandum of Understanding (MOU) to enhance the sense and safely control energy usage of commercial buildings.
- 30 Jan 2024, With the signing of a corporate power purchase agreement (CPPA) with ENGIE, Amazon received a larger portion of the 473MW of output from Ocean Winds' Moray West offshore wind farm in Scotland when it starts operating later this year.
To access the data contained in this document please email contactus@visiongain.com. Avoid missing out by staying informed – order our report now.
To find more Visiongain research reports on the energy sector, click on the following links:
- Energy Storage Systems (ESS) Market Report 2024-2034
- Energy Security Market Report 2024-2034
- Airborne Wind Energy Market Report 2024-2034
Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: contactus@visiongain.com
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Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
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