Energy as a Service Market To Reach USD 149.45 Billion by 2030, Says P&S Intelligence

NEW YORK, Feb. 14, 2023 /PRNewswire/ -- The total value of the energy as a service market was USD 68.41 billion in 2022, which will propel at a rate of 10.26%, reaching USD 149.45 billion by 2030, as per a report published by P&S Intelligence.

Commercial Sector Raises Highest Demand for Energy as a Service

The sector includes businesses such as educational institutions, hospitals, airports, information hubs, and others. In the years to come, this sector will have the faster growth, of 11.1%.

Furthermore, several factors, such as the population growth and changes in the climate, would be a main factor for the growth of the industry.

• The requirement for electricity varies among buildings constructed for different commercial purposes, and the EaaS model supports people with gaining technical knowledge and limiting the expenditure for implementing initiatives regarding efficiency.

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Increasing Consumption of Electricity Is Key Factor for EAAS Demand Expansion

Since the industrial sector is also a major user of energy, it is augmenting its understanding of its electricity consumption through integrated sensors and smart meters.

Similarly, with the rising consumption of electricity by the commercial sector, numerous technologies are now being used for producing power from renewable sources.

The requirement for power and the expenses on this commodity are driven by an expanding economy and infrastructure. Moreover, the bulk of the power is produced by burning fossil fuels, such as natural gas and coal.

Therefore, as oil, coal, and gas reserves diminish, these resources will become dearer. Their higher prices will ultimately result in the need for substitutes, such as EaaS, which eliminates the initial investments in onsite transmission infrastructure.

EaaS Demand in North America To Grow Significantly

North America is rapidly digitizing its economy to comply with new rules, meet the expectations of customers, and achieve decarbonization.

Therefore, the EaaS model is evolving, as digital technologies are its key pillar. The capacity to include analytics, distributed energy resources, and personalized services is one of the main factors supporting the EaaS business model.

Browse detailed report on Energy as a Service Market Size, Share, Development and Demand Forecast Report 2030

The progressions in building management technology and the requirement of industrial and commercial consumers for lowering their electricity spending and emissions of carbon are the key drivers powering this trend.

Demand for Energy Supply Services Is Highest

Among all the types of services included in the EaaS model, energy supply is in the highest demand, generating 43% of the market revenue in 2022. This is attributed to the high rate of urbanization, which continues to propel both the demand for and prices of electricity.

Energy as a Service Market Report Coverage

By Type

• Energy Supply Services
• Operational & Maintenance Services
• Energy Efficiency and Optimization Services

By End-User

• Commercial
• Industrial

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa
• U.A.E.

Browse More Reports Published by P&S

Energy Storage Market Projection, Technological Innovation And Emerging Trends 2030

Energy Management System Market Growth, Development and Demand Forecast Report 2030

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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