Energy-as-a-Service Market Analysis, Challenges, Growth and Forecast By 2030

This growth is attributed to the increasing demand for energy efficiency, rising focus on digitalization, and the growing importance of renewable energy sources. Additionally, the growing adoption of the Internet of Things (IoT) and smart grid technologies, the increasing number of government initiatives, and the growing trend of decentralization of energy generation will also drive the Energy-as-a-Service Market growth during the forecast period. The market for energy-as-a-service is driven by the increasing demand for subscription-basis billing systems for the usage of energy sources.

The EaaS model is transforming power purchases and energy management. EaaS helps in energy management of buildings and reduce the cost of spending on energy. With concerns over energy conservations and sustainable energy usage, facility managers are looking for options to reduce carbon emission and optimize power consumption.

With the presence of many building automation and intelligent building vendors in the energy and utility space, they are expected to dominate the market for the next 6 years. Several enterprises in this region are focusing on enhancing customer experience and reduce costs in delivering energy as per needs. Asia Pacific is expected to witness the fastest growth rate due to the increasing customer base of large enterprises. Although the EaaS concept is new in the APAC region, energy is expected to be the critical component with the depletion of fossil fuels for electricity generation. The growth of EaaS market is expected to boost the green buildings concept and push from governments would lead to usage-based metering of energy.

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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 EaaS 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 its 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.

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Energy-as-a-Service Market Segmentation By Type

Energy Saving

Energy Storage

Energy Creation

The energy storage segment is the major contributor to the EaaS market growth. Energy saving is expected to grow at the highest CAGR during the forecast period 2023–2030.

Energy-as-a-Service Market Segmentation By End-user

Commercial

Residential

The commercial segment is estimated to hold the larger market share in 2023, and the trend will continue during the forecast period 2023–2030.

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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 consumption. By analyzing multiple customer application areas, intelligent features, and automated controls, EaaS is expected to provide next-generation energy management and the capability to handle huge customers with the pay-as-you-go model. Vendors are focusing on successfully deploying and distributing energy to the residence and commercial buildings. With energy-as-a-service, a building owner can decide the overhead consumption. It helps in maintaining the energy portfolio to meet their sustainability goals. It paves the way for usage of renewable sources of energy. Also, it would help new vendors to enter the market and deliver energy requirements through various medium as companies are moving toward decentralized supplies. 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 enhancing the partner ecosystem across geographies to widen their reach and gain new customers. 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 but looks promising as enterprises are looking for easy availability of energy sources from decentralized facility from energy vendors and help in billing from various equipment to deliver energy requirements. It also improves the service delivery of the vendors and would witness the emergence of several players in the energy sector. The government needs to take major steps for infrastructure of energy-as-a-service, thereby ensuring quality and safety.