blockchain in energy utilities industry analysis, blockchain in energy utilities market overview, blockchain in energy utilities market trends, blockchain in energy utilities market growth, blockchain in energy utilities market size, blockchain in energy utilities market share
What are the recent trends in market size and growth for the blockchain in energy utilities market?
The blockchain in energy utilities market size has grown exponentially in recent years. It will grow from $0.87 billion in 2024 to $1.23 billion in 2025 at a compound annual growth rate (CAGR) of 40.9%. The growth in the historic period can be attributed to need for transparency and security, decentralization of energy systems, reduction in operational costs, regulatory support and pilot programs, increased digitalization, enhanced grid management, consumer demand for green energy.
The blockchain in energy utilities market size is expected to see exponential growth in the next few years. It will grow to $4.8 billion in 2029 at a compound annual growth rate (CAGR) of 40.6%. The growth in the forecast period can be attributed to expansion of renewable energy sources, enhanced energy trading platforms, growing smart grid deployments, supportive regulatory frameworks, collaborative industry initiatives. Major trends in the forecast period include advancement in consensus mechanisms, integration with artificial intelligence, expansion of Blockchain-as-a-Service (BaaS), interoperability with legacy systems, innovations in smart contracts, decentralized energy markets, focus on cybersecurity.
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How have varous drivers impacted the growth of the blockchain in energy utilities market?
The growing adoption of decentralized and renewable energy sources is expected to propel the growth of blockchain in the energy utilities market going forward. Decentralized and renewable energy sources are small-scale, local sources of power that come from naturally replenished sources such as the sun, wind, or water. The growing focus on energy security, environmental sustainability, and economic competitiveness expands the need for decentralized and renewable energy sources. Blockchain technology is used in the energy sector to seamlessly integrate and manage the burgeoning number of decentralized and renewable energy sources by peer-to-peer energy trading and grid management. For instance, in April 2023, according to a publication by the U.S. Energy Information Administration (EIA), a US-based Federal Statistical System agency, both hydropower generation and geothermal energy use experienced a 4% increase in 2022 compared to 2021, as renewable energy production and consumption hit record highs, comprising approximately 13% (13.40 quads) of total energy production and 13% (13.18 quads) of total energy consumption, demonstrating an elevated priority on clean energy sources. Therefore, the growing adoption of decentralized and renewable energy sources is driving the travel blockchain in the energy utilities market.
What are the primary segments of the blockchain in energy utilities market?
The blockchain in energy utilities market covered in this report is segmented –
1) By Component: Platform, Services
2) By Type: Private, Public
3) By Application: Grid Management, Energy Trading, Government Risk And Compliance Management, Payment Schemes, Supply Chain Management, Other Applications
4) By End User: Power, Oil And Gas
Subsegments:
1) By Platform: Blockchain Development Platforms, Smart Contract Platforms, Blockchain-As-A-Service (Baas) For Energy, Decentralized Energy Trading Platforms, Blockchain-Based Energy Management Platforms
2) By Services: Consulting Services, Integration And Implementation Services, Transaction And Data Verification Services, Blockchain Network Setup And Maintenance, Support And Training Services
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Which firms are leading the blockchain in energy utilities market?
Major companies operating in the blockchain in energy utilities market are Shell plc, Microsoft Corporation, Enel SpA, Engie S.A., Siemens AG, Accenture PLC, International Business Machines Corporation, Iberdrola S.A., Oracle Corporation, SAP SE, Sun Exchange AG, Infosys Limited, Wien Energie GmbH, COI Energy Services, Electrify Asia Limited, FlexiDAO GmbH, Vespene Energy Inc., Power Ledger Pty Ltd, Lition Technology, LO3 Energy Inc., Energy Web Foundation Inc., Pexapark Ltd, WePower Limited, Clean Carbon Private Limited, Blok-Z
How will industry trends affect the trajectory of the blockchain in energy utilities market?
Major companies operating on the blockchain in the energy utilities market focus on innovative platform development, such as comprehensive emissions management platforms, to enhance transparency and sustainability. Comprehensive emissions management platforms empower companies to make data-driven decisions that improve transparency, streamline reporting, and drive sustainability efforts. For instance, in March 2024, Blockchain for Energy (B4E), a US-based non-profit consortium of premier energy companies, launched the B4ECarbon solution. This innovative offering, co-developed with Enovate AI, leverages blockchain technology, artificial intelligence (AI), and Internet of Things (IoT) systems to revolutionize emissions tracking, reporting, and reduction strategies. B4ECarbon is a comprehensive emissions management solution utilizing blockchain to guarantee data accuracy, transparency, and verifiability. It integrates AI to enable intelligent reporting and data-driven decision-making for emissions reduction while fostering collaboration across the energy sector through adherence to established industry standards.
Which geographic trends are shaping the blockchain in energy utilities market, and which region has the highest market share?
North America was the largest region in the blockchain in energy utilities market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blockchain in energy utilities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Blockchain In Energy Utilities Market Report 2025 Offer?
The blockchain in energy utilities market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Blockchain in energy utilities refers to the application of blockchain technology to the energy sector, enhancing transparency, security, and efficiency in energy transactions. It enables decentralized energy trading, real-time grid management, and secure peer-to-peer energy transfers. Additionally, blockchain facilitates improved compliance and risk management, streamlined payment schemes, and optimized supply chain management within the energy utilities industry.
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