Vision Gain Reports Inc.
Visiongain has published a new report titled “EaaS (Energy as a Service) Market Report 2024-2034: By Payment Model (Subscription-based, Pay-as-you-go, Contract-based), By End User (Industrial, Commercial, Residential, Others), By Service Type (Energy Delivery Services, Energy Monitoring & Control, Predictive Maintenance, Operation & Maintenance Services, Others), By Component (Energy Management Systems (EMS), Building Management Systems (BMS), Data Analytics Platforms, Energy Storage Systems, Distributed Generation, Others), Regional and Key Countries Market Analysis and Key Players Analysis.”
The global Energy as a Service (EaaS) market is estimated to reach USD 86 billion in 2024, and is projected to grow at a CAGR of 12.6% during the forecast period (2024-2034).
Increasing energy demand in emerging countries
Emerging economies are experiencing rapid industrialization and urbanization, resulting in a surge in energy demand. EaaS offers an effective solution to meet this demand sustainably and efficiently. Countries such as India and China are investing heavily in EaaS to meet their growing energy demands while promoting energy efficiency and reducing environmental impact. The EaaS model can help these economies leapfrog traditional energy infrastructure and adopt modern, smart, and sustainable energy systems that support long-term economic growth and development.
Corporate sustainability goals are a key driver for the EaaS market
Many businesses are committed to ambitious sustainability goals, such as achieving carbon neutrality and using 100% renewable energy. EaaS providers offer solutions that help businesses achieve these goals through energy efficiency measures, renewable energy adoption, and carbon footprint reduction strategies. For example, technology giants such as Google and Microsoft have leveraged EaaS solutions to power their data centers with renewable energy, significantly reducing their environmental impact and setting an industry benchmark for sustainability.
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https://www.visiongain.com/report/eaas-market-2024/#download_sampe_div
How does this report benefit you?
Visiongain’s 347-page report features 97 tables and 163 charts/graphs. Our new study is suitable for anyone who requires a commercial and in-depth analysis of the EaaS (Energy As a Service) market, as well as a detailed segment analysis of the market. Our new study helps you evaluate the entire global and regional markets for EaaS (Energy As a Service). Get a financial analysis of the entire market and its various segments such as payment models, end users, service types, and components to capture a higher market share. We see a huge opportunity in this fast-growing EaaS (Energy As a Service) market. See how you can take advantage of the existing and upcoming opportunities in this market to reap the revenue benefits in the near future. Moreover, this report will help you in improving your strategic decision-making, allowing you to formulate growth strategies, enhance your analysis of other market players, and maximize your company’s productivity.
The story continues
What are the current market drivers?
Energy resilience and security
Energy resiliency and security are key concerns for businesses and governments alike, driving the adoption of EaaS solutions. EaaS provides robust energy management systems that increase the reliability and stability of energy supply, which is especially important in the face of natural disasters, cyber threats, and other disruptions. Companies such as Johnson Controls are providing resilient energy solutions that ensure continuous energy supply and operational continuity, protect against potential energy crises, and enhance overall security.
Growing interest in distributed energy systems
The move towards distributed energy systems is a major driver for the EaaS market. Distributed energy systems, including microgrids and local energy generation, provide greater flexibility and control over energy production and consumption. The EaaS model makes these systems easier to implement and manage, providing businesses and communities with reliable, efficient and sustainable energy solutions. This approach reduces reliance on centralized grids, lowers transmission losses and increases energy independence.
View detailed table of contents
https://www.visiongain.com/report/eaas-market-2024/
Where is the market opportunity?
Collaborative Ecosystem and Strategic Partnerships
The EaaS market offers ample opportunities for collaboration and strategic partnerships among various stakeholders including technology providers, energy companies, financial institutions, government agencies, etc. By forming a collaborative ecosystem, 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 enable the development of innovative EaaS solutions that integrate cutting-edge technologies such as AI, IoT, blockchain, etc. Financial institutions can provide the capital and financial expertise needed to support the deployment of these solutions, while government agencies can foster a favorable regulatory environment and provide incentives for the adoption of sustainable energy practices.
Growth of the energy efficiency retrofit market
The market for energy efficiency improvements in existing buildings represents a huge opportunity for the EaaS market. Many commercial and industrial buildings are energy inefficient, resulting in high energy costs and significantly increased carbon emissions. EaaS providers can offer energy efficiency improvements as part of their service offering to help building owners and operators reduce energy consumption and improve sustainability.
Energy efficiency improvements include a variety 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. Additionally, energy efficiency improvements make building occupants more comfortable and productive, making buildings more attractive to tenants and customers.
Competitive Environment
Key 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 services, etc. These key players operating in this market are adopting various strategies such as M&A, investments in R&D, collaborations, partnerships, regional business expansion, and new product launches.
Recent developments
On June 11, 2024, Honeywell and NXP® Semiconductors NV signed a memorandum of understanding (MOU) to enhance sensing and safe control of energy use in commercial buildings.
On January 30, 2024, Amazon signed a Corporate Power Purchase Agreement (CPPA) with ENGIE to receive a majority of the output of Ocean Winds’ Moray West offshore wind farm in Scotland, which is scheduled to begin operation later this year.
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Visiongain is one of the fastest growing and most innovative independent market intelligence providers, publishing hundreds of market research reports every year and adding to its extensive portfolio. These reports provide in-depth analysis across 18 industry verticals across the globe. Covering 10-year forecasts, the reports span hundreds of pages and contain detailed market analysis and valuable competitive intelligence data. Visiongain operates across a variety of vertical markets with many synergies. These markets include automotive, aviation, chemical, cyber, defense, energy, food and beverage, materials, packaging, pharmaceutical, and utility sectors. Our customized and syndicated market research reports provide bespoke market intelligence tailored to your unique business needs.
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