Among overall energy investments, the electricity sector attracted the largest share, followed by the oil & gas industry. EaaS is among the fastest-growing markets in the smart power space. EaaS is transforming the power industry in the way digital transformation is revolutionizing the IT environment.

The trend is moving away from the traditional grid system to cleaner and greener energy sources; it is also focused on decentralized power generation and storage. The large vendors are competing among themselves for the significant share in the market. Currently, the adoption of EaaS is highest in North America and Europe.

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The growing need to accommodate energy sources from solar, wind, biogas, and others is encouraging the entry of several new vendors into the energy market. General Electric, Siemens, Johnson Controls, Honeywell, and Engie are few of the companies leading in the market. There is a need for governments to take significant steps to encourage renewable sources, rather than thermal and petroleum usage. These controlled consumption and fixed billing systems are encouraging commercial infrastructure to invest in EaaS. Safety measures are key concerns in distributed and decentralized energy systems.

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The significant developments in EaaS are witnessed from the global building automation and intelligent facility vendors. The energy-efficient building is one of the most discussed topics among world leaders to reduce carbon emission and optimize energy usage. The market is relatively new in Asia Pacific; however, it has great potential to move ahead with greater penetration, the significant presence of Schneider Electric, and Siemens expanding its marketing in India. New technologies that reduce the electricity bill in the regulated environment of energy consumption will drive consumers to adopt EaaS in retail brokerage services for electricity. Most of the Fortune 500 companies are consulting energy experts for reduced use of energy in their facilities.

– Swarup Bhowal
ICT – Research Analyst
Infoholic Research