The global energy services market is expected to exceed $1.1 billion in 2018

According to the latest research report released by MarketsandMarkets, the world's second largest market research institution, the global energy services (EaaS) market size will reach $1,116.
5 million in 2018, and this data is expected to increase to $7,336.
1 million by 2023, with a compound annual growth rate of 45.
72%.

By service type, the report segments the energy services market into power generation, O&M, energy efficiency, and optimization
.
Among them, energy efficiency and optimization will dominate the overall energy services market in 2018, as its advantages are mainly in reducing operating costs, saving energy, and improving energy efficiency
by increasing the speed of energy equipment through monitoring.
In addition, after assessing the existing energy system in the building through an energy audit, the ways and potential
for energy savings are determined.
Currently, ISO50002 defines an energy audit process to create energy savings
.

Based on end-user, the energy services market is segmented into industrial and commercial
.
The industrial segment is expected to hold the largest market share in 2018 and is the fastest growing market
from 2018 to 2023.
Increasing investments in clean and efficient electricity is one of
the key factors driving the industrial end-user market in the energy services market during the forecast period.

The report analyzes the global energy services market for four regions, namely Asia Pacific, Europe, North America, and the rest of the world
.
The rest of the world includes South America, Africa and the Middle East
.
North America is expected to hold the largest market share in 2018 and is the fastest growing market
from 2018 to 2023.
Factors such as increasing energy consumption, government requirements for energy efficiency, and increasing renewable energy in the energy mix are driving the energy services market
in the North American region.

Energy Services, or Energy as a Service (EaaS), is the overall management of a customer's energy portfolio, including energy assets, operations and services, such as supply, demand and schedule management, often containing new products, services and technology solutions
.
The current market includes third-party suppliers, power companies, energy service companies, and others
.
They seek to deploy niche technologies, financing or procurement solutions such as solar power purchase agreements (PPAs), energy service performance contracts, and retail brokerage services
in the electricity market.

In addition, the growth of distributed energy systems and the need for clean, flexible, low-cost energy sources could create opportunities
for the energy services market.
However, integration and deployment challenges along with existing utility models may inhibit the growth of the EaaS market, resulting in lower
profits.

Currently, some of the major players in the global energy services market are General Electric (US), Siemens (Germany), Engie (France), Edison Energy (US) and EDF Energy (UK).