Global Energy as a Service Market: Introduction
Energy as a service (EaaS) can be defined as one or more aspects of a customer’s energy portfolio including strategy, program management, energy supply, energy use, and asset management by applying new products, services, financing instruments, and technology solutions. EaaS market consists of third-party vendors, utility services companies, and potential business model disruptors deploying niche technical, financing, or procurement solutions like solar PV power purchase agreements, energy services performance contracts, and deregulated electricity market retail brokerage services.
Energy as a Service Market: Segmentation
Based on service type, the EaaS market can be divided into generation, operation & maintenance, optimization & efficiency, and others. Energy optimization & efficiency services are expected to hold the largest share of the EaaS market. The energy optimization & efficiency services include the identification of energy saving potential and optimization of existing building energy services. Based on end-user industry, the EaaS market can be bifurcated into industrial sector and commercial sector. Industrial segment is expected to hold the largest share of the EaaS market, by end-user. This segment is primarily driven by decarbonization and energy efficiency standards. The Energy Policy Act 1992 focuses on increasing clean energy use and improving overall energy efficiency in the US. Energy Conservation Law of China, 1992 focuses on promoting energy conservation, improving energy utilization, and protecting the environment from GHG emissions.
Energy as a Service Market: Overview
The drivers for energy as a service market are rising energy consumption and price volatility, and growing potential of renewable energy. Several trends are expected to come together to push the growth of the energy as a service market during the forecast period. Corporations have increasingly been looking for sustainable or renewable resources of energy. The restraints for energy as a service market are integration and deployment challenges, and dominance of existing centralized utility models. Backward and Forward Integration are presenting opportunities for the EaaS market. The major challenge for the EaaS market is the results manifest with scale which is expected to hinder the EaaS market.
Energy as a Service Market: Regional Outlook
By region, the global energy as a service market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is estimated to be a rapidly growing region of the energy as a service market. In North America Rising standards and initiatives by governments, increase in the number of smart cities, smart communities, and electric vehicles are also boosting the market for grid management and power efficiency, which in turn would create opportunities for the energy as a service market. This market trend is estimated to continue due to increasing demand for energy in industrial and commercial needs, which is expected to boost the energy as a service market. In North America US is expected to hold the largest share of the energy as a service market due to energy efficiency services market in the US has grown significantly in the past decade. Based on consumption, Asia Pacific is expected to be the leading market for EaaS during the forecast period. Rising demand from power and oil & gas industry is driving the demand for EaaS market in this region.
Energy as a Service Market: Key Players
Key players operating in the energy as a service market include GENERAL ELECTRIC, Siemens AG, ENGIE, WGL Holdings, Inc., Enel X, Edison Energy, Ørsted, EDF Energy, SmartWatt, Contemporary Energy Solutions, Enertika, Solarus Sunpower B.V., and Bernhard Energy.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.