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The global energy ESO market is currently experiencing strong growth. Energy engineering services outsourcing (ESO) refers to hiring third-party energy service providers (ESPs) to perform tasks traditionally performed in-house. With the digital transformation, new technologies have been introduced for smart grid management, digitization of power plants, embedded product engineering, and virtual prototyping. As a result, ESPs are shifting toward more mature and advanced systems that provide more predictable, stable, and higher quality services. This has encouraged companies to opt for energy ESO to reduce labor and investment costs by outsourcing the services to ESPs. They also execute appropriate strategies and promptly complete projects, which can be accessed by a ready team of skilled and trained engineers.
The global energy ESO market is primarily driven by rapid industrialization and a substantial increase in energy demand. The rising concerns about the operating efficiency of energy plants and extensive investments in clean or renewable energy resources, which are an efficient way of reducing carbon dioxide (CO2) emissions, have increased the need for ESO services worldwide. Besides this, due to information, security and privacy concerns, companies are nowadays increasingly opting for onshore ESO that are provided to an OEM by an ESO vendor operating in its home country. There has also been a growing need for real-time analytics services to handle the requirements of the energy industry, such as analyzing vast amounts of data generated in energy production. Moreover, the utilization of advanced engineering technologies by outsourcing firms to serve their clients and enable them to exchange confidential data on project specifications and equipment performances are also contributing to the market growth. Looking forward, IMARC Group expects the global energy ESO market to grow at a CAGR of around 17% during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the global energy ESO market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, service, location and energy source.
Breakup by Service:
Breakup by Location:
Breakup by Energy Source:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Altair Engineering Inc., ALTEN Group, Altran Technologies (Capgemini SE), Assystem (HDL Development SAS), Cyient Limited, ESI Group, Luxoft (DXC Technology Company), Mott Macdonald, QuEST Global Services Pte. Ltd., Rilco Engineering Services, Semcon and Total OutSource Inc. (UCA Group Inc).
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