Energy as a Service Market

GE (US) and Edison Energy (US) are the Leading Players in the Energy as a Service Market

The global EaaS market is projected to reach USD 7,336.1 million by 2023, growing at a CAGR of 45.72% from 2018 to 2023. In 2017, North America was the largest market for EaaS, followed by Europe and Asia Pacific. The growth of the EaaS market is mainly driven by rising energy consumption and price volatility and growing potential of renewable energy. The EaaS market is dominated by a few global players. The key players operating in this market are GE (US), Siemens (Germany), Engie (France), Edison Energy (US), and EDF Energy (UK). The other players in the market are WGL Energy (US), Enel X (Italy), Orsted (Denmark), Bernhard Energy (US), Solarus (Netherlands), Enertika (Spain), SmartWatt (US), and Contemporary Energy Solutions (US).

The major strategies adopted by the players in the EaaS market from 2015 to 2018 (May) include contracts & agreements, new product launches, expansions, and mergers & acquisitions. New product launches and expansions were the most commonly adopted strategies during this period.

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GE (US) is one of the leading technology and financial services companies operating through 8 business segments, namely, aviation, power, healthcare, oil & gas, renewable energy, capital, lighting, and transportation. The company provides energy-as-a-service (EaaS) under its lighting segment within the current sub-segment. GE’s lighting business primarily focuses on consumer lighting applications in the US, and Current, which is powered by GE (Current), provides energy efficiency and productivity solutions for commercial, industrial, and municipal customers. GE Current combines infrastructure technology like LED and solar with new sensor-enabled data networks and digital applications to help its clients reduce energy costs. Predix analytics platform enables GE customers to analyze energy consumption and optimize operational expenses. Some of the subsidiaries of GE are GE Energy Europe B.V., GE Energy Netherlands, B.V., GE Energy Switzerland, GE Energy (US), and GE Lighting Systems (Italy) among others. GE adopted mergers & acquisitions and expansion as major strategies in the EaaS market. In October 2015, GE expanded its business unit GE Current that focuses on GE’s LED, Solar, Energy Storage and Electric Vehicle businesses with its industrial strength - Predix platform to identify and deliver energy solutions for the clients. The new business unit begins with USD 1 billion of revenue. The major aim of the expansion is to concentrate on energy-as-a-service offerings. In April 2016, GE completed the acquisition of Daintree Networks (US), a building automation company that provides wireless control systems for commercial and industrial buildings. The joint solution from Current and Daintree links data from lighting and HVAC systems directly to Predix, GE’s Industrial Internet software.

Edison Energy (US) engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity to various end-users such as residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks. Edison Energy is an independent advisory and services company that develops and integrates energy solutions for the largest energy users. Edison Energy helps energy users to reduce energy costs, improve the environmental performance of their operations, ensure energy resiliency, and manage exposure to energy price risk. The company’s transmission facilities consist of lines ranging from 33 kV to 500 kV and substations; and distribution system comprises approximately 53,000-line miles of overhead lines, 38,000-line miles of underground lines, and 800 substations located in California, US. In March 2016, Southern California Edison launched a new business venture to provide Energy-as-a-Service to the largest consumers of power. This unit focuses on meeting the energy needs of the largest users of energy.

Related Reports:

Energy as a Service Market by Service Type (Generation, Operation & Maintenance, Optimization & Efficiency), End-User (Industrial Sector and Commercial Sector), and Region (North America, Europe, Asia Pacific, and RoW) - Global Forecast to 2023

Mr. Shelly Singh
MarketsandMarkets™ INC. 
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Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 

Report Code
EP 6429
Published ON
Jul, 2018
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