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The market value of Energy as a Service (EAAS) is expected to rise from USD 27.86 billion in 2020 to USD 125.54 billion in 2030, with a compound annual growth rate of 9.20% over the assessment period.
Energy as a Service (EAAS) is a new concept in developing economies that involves the management of various energy portfolios, energy supply, energy use, programme management, asset management, and other activities. The market for energy as a service has the potential to reach a large consumer base and fuel and power its adoption in every industry. To attract more customers, most energy and service providers are cooperating with third-party vendors and potential business disruptors.
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Energy as a Service (EaaS) Market Key Players –
The prime players of this market include:
Many governments in both developing and developed countries are developing and implementing regulatory policies to increase the adoption rate of EAAS. With the increased use of energy as a service (EAAS), there has also been a drastic transformation in the transportation sector through vehicle electrification and the introduction of electric vehicles that must be charged at regular intervals for use. As a result, this is another critical factor that will contribute to the growth of this industry. Finally, manufacturers are shifting their focus to the use of sustainable energy, which is another factor that will contribute to the expansion of the energy as a service market.
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To begin with, one of the major factors driving the growth of the energy as a service market is the increasing adoption of distributed energy sources (DER). Second, global economic decarbonization is another factor that will drive significant growth in the energy as a service market during the forecast period. With the increased use of energy as a service (EAAS), there has also been a drastic transformation in the transportation sector through vehicle electrification and the introduction of electric vehicles that must be charged at regular intervals for use.
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This is another important factor that will contribute to the growth of this industry. Finally, manufacturers are shifting their focus to the use of sustainable energy, which is another factor that will contribute to the expansion of the energy as a service market.
Based on components, it has solutions and services. Also, the solution segment is further sub-segmented into energy portfolio advisory solutions, on-site energy supply, off-site energy supply, building optimization solutions, load management & optimization solution. The service segment is segregated into infrastructure services, technical and maintenance services, and other support services.
Based on the end-user, it has residential, government, and industrial.
The industrial segment is further divided into small & medium scale enterprises and large scale enterprises.
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The Energy as a Service (EAAS) industry movement is thriving in four major global regions: North America, Asia Pacific, Europe, and the rest of the world. Among all of these regions, the European region will dominate this market, owing to the increasing adoption of renewable energy sources for energy consumption., and others, are based in this region, which contributes to the market’s growth. Because of rapid advancements in artificial intelligence (AI) and data analytics, North America will be the sec market during the assessment period.
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