Energy as a Service Market Trends and Recent Developments
by Susan Hill Business ConsultantRenewable power generation and storage
facilities are mushrooming up very quickly all around, due to the growing climate concern around the world. This has given a
formidable push to the Energy market and has been the reason behind the
increase in the energy
as a service market.
COVID-19 has affected the energy sector uniquely, but as the energy sector forms the
backbone of the fight against the coronavirus, it stands its ground against the
slowdown. Energy market is
capable to take a little shock along the way and is not going to be affected by
the pandemic to a greater extent, as most of the countries have put up safety measures
to guarantee the continuation of operations; however, it is going to be
affected nonetheless.
Government boost to the renewable energy
sources due to its multiple benefits like lower costs, reduced carbon
footprint, environment-friendly, and energy efficiency is pushing the demands
ahead in several countries. Along with
this, increasing government investments in sponsoring renewable sources is
going to engage demands and push growth rate ahead in the market.
North America is expected to be the largest
regional market, due to the fact that it has major intelligent building and building automation vendors. Also, these key
players are inclined towards growing this market by reducing costs for
delivering services and enhancing the customer experience.
Energy as a Service is still in the nascent
stage in several developing countries like India, Indonesia and others in Asia
Pacific region. However, growing government push to renewable energy sources and housing
projects is expected to boost the demand in the market/
Artificial
Intelligence along with several other technologies like machine learning, big
data among others are being used in the energy sector. It is also going to boost the initiative of
using Energy as a service. These
advancements will lead to the boost in growth of the market.
In May 2019, Schneider Electric Acquires Stake
in AutoGrid to Accelerate AI Adoption in the Power Sector
The investment makes
Schneider Electric a major shareholder in the company and establishes a
co-innovation partnership focused on driving new AI and machine learning
solutions for the utilities and commercial and industrial companies. This will
Schneider leverage these technologies in Energy as a Service Market.
On January 09, 2020, Siemens Gamesa
successfully completes acquisition of European Service assets and IP from
Senvion
This transformational deal for Siemens Gamesa Renewable Energy’s Service Unit will strengthen its competitive position in Europe by adding approximately 9.0 GW serviced fleet and operations in 13 countries, increasing the total serviced fleet to approximately 69 GW globally. Acquired Intellectual Property (IP) allows Siemens Gamesa to offer competitive service solutions for other OEM business and grow its multi brand offering.
Access full research report on global energy
as a service market:
www.grandviewresearch.com/industry-analysis/energy-as-a-service-market
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Created on May 17th 2020 16:52. Viewed 382 times.