Energy as a Service (EaaS) Market Size
                     Market Highlights 
The Energy as a service market 2020 was valued at USD 10.6 billion and is estimated to reach USD 
51.8 billion by 2023, with a CAGR of 31.2% in the forecast period. The factors responsible for 
driving the growth are an increase in Distributed Energy Resources (DER), reduction in the cost of 
renewable power generation, storage solutions, tax benefits for energy efficiency projects, and new 
revenue generation streams for utilities. The market is impelled by the increasing capability of 
renewable energy, the volatility of price, and the perpetual increase in energy consumption are 
some of the other factors driving the growth and development. The increase in demand for energy 
has resulted in the shift towards the generation of renewable energy. Energy as a service helps in a 
lot of ways, such as optimization of energy systems, improvement of working environments. 
Moreover, the volatility of the prices of energy has led to the expansion of the market. The Energy 
as a Service (EaaS) concept has yet not flourished throughout the world, especially in developing 
countries. Developed countries like U.S and Canada have defined their policies and standards to 
promote the usage and adoption of EaaS.  
Segmentation: 
The Energy as a Service (EaaS) market size has been categorised into end and component user. The 
end-user is categorised into government, residential, and industrial. The industrial segment has 
further been segmented into large, small and medium enterprises. Component-based, the energy as 
a service market is classified into services and solutions. The services consist of technical services, 
maintenance services, infrastructure services, and other support services. The solution service has 
been further sub-categorised into building optimization solutions, energy portfolio advisory 
solution,off-site energy supply, on-site energy supply, , load management and optimization solution. 
Regional Analysis The geographical analysis of Global Energy as a Service market has been analysed 
for Europe, North America, Asia-Pacific and rest of the world. It has been estimated that Europe 
region will be the fastest growing EaaS market. Energy service providers such as EDF Energy (UK), 
Schneider Electric SE (France), and rising adoption of renewable source of energy consumption are 
the major factors for the market growth. America is expected to maintain the second largest market 
during the forecast period. Speedy development such as data analytics artificial intelligence, and 
improving demand energy solution among the industrial and residential areas in the US and Canada 
are expected to have played a key role in expansion of the market. Asia Pacific is expected to 
accumulate significant amount of revenue in the coming years. The rapid change in population, the 
fast-paced urbanization, industrialization and increasing renewable energy projects are most likely 
to advance the revenue generation for the market participants.  
Key Players  
Some of the major key players of global EaaS market are Duke Energy (US), Engie (France), 
Southern Company (US), EDF Energy (UK), Edison International (US), SmartWatt (US), Bernhard 
Energy (US),Orsted (Denmark), Siemens AG (Germany), General Electric (US), WGL Energy (US. 
There are few other organizations who recently entered into the market and have claimed a 
considerable place in the EaaS market . Enel X (Italy), Schneider Electric SE (France), Solarus 
(Netherlands), and Contemporary Energy Solutions (US), Enertika (Spain), are some of those 
companies. 
 Iandustry Update 
 March 2020 
 Vestas, a Danish wind turbines manufacturer, has signed an agreement with Nexif Energy, a 
Singapore-based company, which operates wind farms and other renewable projects. As per the 
deal states Vestas would offer maintenance solution to Lincoln Gap wind farm in South Australia.