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Electric utilities

Energy as a Service Market to Reach $100.17 Billion by 2027

Strategic Insights

— 2 min read

The energy as a service market has experienced significant growth in recent years, driven by increasing demand for renewable energy and advancements in energy management solutions. The market value grew from $57.32 billion in 2022 to $64.28 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war has disrupted global economic recovery, causing supply chain disruptions and inflation across goods and services. The energy as a service market is expected to reach $100.17 billion in 2027 at a CAGR of 11.7%.

Key Takeaways:

  • The energy as a service market includes revenues earned by entities providing cloud-based energy services, solutions, and energy procurement, storage, and production.
  • The market value includes the value of related goods sold by the service provider or included within the service offering.
  • Major players in the energy as a service market are Schneider Electric SE, Engie SA, Siemens AG, Honeywell International Inc., Veolia Environnement S.A, Enel X, EDF Renewable Energy, Johnson Controls International, Bernhard Energy, Edison Energy, SmartWatt, Entegrity, Enertika, Ameresco, Centrica, and Duke Energy Corporation.
  • The increase in renewable energy generation is expected to propel the growth of the energy as a service market, with renewable energy generation increasing to 29% of global electricity generation in 2020.
  • Partnerships and agreements among companies are key trends gaining popularity in the energy as a service market, with companies such as Engie and Google signing agreements to provide carbon-free electricity.
  • The countries covered in the energy as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
  • The energy as a service market research report provides an in-depth analysis of the current and future state of the industry, including energy as a service market statistics, regional shares, competitors, and market trends.

Statistics:

  • The global energy as a service market grew from $57.32 billion in 2022 to $64.28 billion in 2023 at a CAGR of 12.1%.
  • The energy as a service market is expected to reach $100.17 billion in 2027 at a CAGR of 11.7%.
  • Renewable electricity generation in 2021 increased by more than 8% to reach 8,300 TWh.
  • The share of renewables in global electricity generation jumped to 29% in 2020, up from 27% in 2019.
  • The Engie group signed an agreement with Google LLC to provide carbon-free electricity in Germany in August 2021.
  • Schneider Electric partnered with Huck Capital to deliver energy-as-a-service in August 2020.

Sources:

  • ReportLinker
  • Schneider Electric SE
  • Engie SA
  • Siemens AG
  • Honeywell International Inc.
  • Veolia Environnement S.A
  • Enel X
  • EDF Renewable Energy
  • Johnson Controls International
  • Bernhard Energy
  • Edison Energy
  • SmartWatt
  • Entegrity
  • Enertika
  • Ameresco
  • Centrica
  • Duke Energy Corporation
  • International Energy Agency

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