The North America Energy ESO Market would witness market growth of 17.2% CAGR during the forecast period (2023-2030).
Amidst unprecedented technological progress and an expanding awareness of sustainable methodologies, the electricity industry is leading a substantial paradigm shift. At the heart of this evolution is the electricity system operator (ESO), a critical entity responsible for ensuring the seamless and reliable operation of the electricity grid. This dynamic role has given rise to the market. As an indication of a transition towards a more sustainable and resilient future, this burgeoning landscape reflects the industry's reaction to the challenges an evolving energy paradigm poses.
In addition, the adoption of these ESO solutions has gained considerable momentum in recent years, driven by the imperative to integrate renewable energy sources into the grid, enhance grid stability, and accommodate the increasing electrification of various sectors. As the electricity demand continues to rise, traditional grid management systems have faced challenges in meeting the evolving requirements of a more complex and diversified energy mix.
In addition, as per the data released in 2023 from the Canada Energy Regulator, more than half of the electricity in Canada (60%) is generated from hydro sources. The remainder is produced from various sources, including natural gas, nuclear, wind, coal, biomass, solar, and petroleum. In 2020, Canada had the fourth-largest installed capacity of hydropower in the world. Therefore, the increasing adoption of renewable energy in the North America region will boost the demand for the ESO in the coming years.
The US market dominated the North America Energy ESO Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $144,843.9 Million by 2030. The Canada market is experiencing a CAGR of 19.9% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 18.8% during (2023 - 2030).
Based on Location, the market is segmented into Onshore, and Offshore. Based on Source, the market is segmented into Non-renewable, Renewable, and Chemical Processing. Based on Service, the market is segmented into Structuring & Layout, R&D & Designing, Digitization, and Implementation & Maintenance. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Energy ESO Market is Predict to reach $737.3 Billion by 2030, at a CAGR of 18%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Semcon AB (Ratos AB), Assystem S.A, Segula Holding, Quest Global Services Pte. Ltd, Mott MacDonald Group Limited, Luxoft Holding, Inc, (DXC TECHNOLOGY COMPANY), ESI Group, Cyient Limited, ALTEN and Altair Engineering, Inc.
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