According to a new report, published by KBV research, The Global Energy ESO Market size is expected to reach $737.3 billion by 2030, rising at a market growth of 18.0% CAGR during the forecast period.
The Onshore segment is registering a CAGR of 17.6 % during the forecast period. The onshore segment has seen substantial growth in response to the increasing integration of onshore renewable energy sources, particularly onshore wind power. Onshore wind farms have become a major contributor to the electricity grid, and managing these decentralized and often intermittent energy sources requires sophisticated onshore energy ESO capabilities. These aspects will help in the expansion of the segment.
The Non-renewable segment led the Global Energy ESO Market by Source in 2022; thereby, achieving a market value of $373.4 Billion by 2030. Non-renewable sources are often used for baseline power generation because they provide a consistent and reliable power supply. Energy ESOs need to ensure a stable grid with a continuous power supply, and non-renewable sources contribute to meeting this baseline demand, especially during periods of low renewable energy generation. Therefore, the segment will expand rapidly in the upcoming years.
The Structuring & Layout segment is growing at a CAGR of 17.2 % during the forecast period. As electricity grids undergo comprehensive modernization efforts, there is an increased emphasis on designing and structuring grid layouts that accommodate new technologies, renewable energy integration, and smart grid solutions. Grid modernization involves the deployment of advanced sensors, communication networks, and control systems, necessitating a reevaluation of the physical and digital layout of the grid infrastructure. These factors will boost the demand in the segment.
The Asia Pacific region dominated the Global Energy ESO Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $282.6 billion by 2030. The Europe region is anticipated to grow at a CAGR of 17.4% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 17.2% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/energy-eso-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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