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Global Blockchain in Energy Utilities Market: By Component: Platform, Services; By Application: Grid Management, Energy Trading, Payment Schemes, Supply Chain and Logistics, Others; By Vertical; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Blockchain in Energy Utilities Market Outlook

The global blockchain in the energy utilities market is expected to grow at a CAGR of about 65.2% in the forecast period of 2023-2028, owing to the increased generation of renewable power to support sustainable initiatives.

 

Europe to be a Significant Regional Market for Blockchain in Energy Utilities

The market in Europe is estimated to be the largest market in the forecast period. Countries such as Germany, the United Kingdom, and the Netherlands are heavily investing in adopting blockchain technologies to solve global transaction processes between multiple parties and provide customers with more secure and accurate data. The growing number of project implementations and the presence of blockchain start-ups in the region, coupled with the incorporated regulatory support from the European government, are propelling the market growth. Further, increasing investment from energy start-up companies and growing funding activities will strengthen the industry landscape. Government incentives toward adopting renewable power generation and favourable regulatory policies to promote the technology adoption are set to augment the product installation.

Additionally, companies in the region are partnering with other countries or having high investments in developing products related to the energy sector using blockchain technology. For instance, in March 2019, a major United Kingdom energy company OVO invested in blockchain firm Electron through its recently launched technology division, Kaluza. The move aims to facilitate the Electron’s deployment of distributed energy trading platforms.

 

Market Segmentations

Blockchain technology is a decentralised ledger that can be used in the energy sector. Blockchain facilitates energy trade in the energy sector. It is projected to allow for a fundamental shift in energy distribution. Blockchain can be utilised efficiently for sustainability and energy conservation by developing new energy business models, shifting carbon credits, and managing real-time data.

The various components in the market are:

  • Platform
  • Services
  • Consulting and Advisory Services
  • Development and Integration Services 
  • Testing Services 
  • Others

The significant applications of the market are:

  • Grid Management
  • Energy Trading
  • Payment Schemes
  • Supply Chain and Logistics
  • Others

The major verticals of the market are:

  • Power Sector
  • Oil and Gas Sector

The regional markets for blockchain in energy utilities can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

 

Rising Generation of Renewable Power to Support Sustainable Initiatives Propelling the Market Growth

The deployment of blockchain technology is likely to witness significant growth in the energy and utility sector due to the amplified generation of renewable energy to back sustainable initiatives and the attempts made by the oil and gas players to boost operational efficiency and security. A positive outlook toward digitisation of systems on account of the increasing installation of smart meters across regions is set to foster the blockchain in energy utilities market share. Also, decentralised energy systems and widespread adoption of smart management and control systems to implement advanced communication are projected to complement the market outlook.

Furthermore, reducing dependency on fossil fuels, coupled with increasing independence of the local grid from outside energy sources in the long term, is anticipated to drive the market growth of blockchain in energy utilities globally. Increasing investment in numerous innovative projects ranging from solar systems for electric vehicle charging and e-mobility will further accelerate product adoption.

 

Key Players in the Global Market for Blockchain in Energy Utilities

The report gives a detailed analysis of the following key players in the global blockchain in the energy utilities market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • International Business Machines Corporation 
  • ConsenSys Software Inc.
  • Accenture PLC
  • LO3 Energy, Inc.
  • Infosys Limited
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Application
  • Vertical
  • Region
Breakup by Component
  • Platform
  • Services
    • Consulting and Advisory Services
    • Development and Integration Services
    • Testing Services
    • Others
Breakup by Application
  • Grid Management
  • Energy Trading
  • Payment Schemes
  • Supply Chain and Logistics
  • Others
Breakup by Vertical
  • Power Sector
  • Oil and Gas Sector
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • International Business Machines Corporation 
  • ConsenSys Software Inc.
  • Accenture PLC
  • LO3 Energy, Inc.
  • Infosys Limited
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Blockchain in Energy Utilities Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Blockchain in Energy Utilities Historical Market (2018-2022) 
    8.3    Global Blockchain in Energy Utilities Market Forecast (2023-2028)
    8.4    Global Blockchain in Energy Utilities Market by Component
        8.4.1    Platform
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Services
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
            8.4.2.4    Breakup by Type
                8.4.2.4.1    Consulting and Advisory Services
                8.4.2.4.2    Development and Integration Services 
                8.4.2.4.3    Testing Services 
                8.4.2.4.4    Others
    8.5    Global Blockchain in Energy Utilities Market by Application
        8.5.1    Grid Management
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Energy Trading
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Payment Schemes
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Supply Chain and Logistics
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2018-2022)
            8.5.4.3    Forecast Trend (2023-2028)
        8.5.5    Others
    8.6    Global Blockchain in Energy Utilities Market by Vertical 
        8.6.1    Power Sector
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Oil and Gas Sector
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)    
    8.7    Global Blockchain in Energy Utilities Market by Region
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022) 
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022) 
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022) 
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022) 
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022) 
            8.7.5.3    Forecast Trend (2023-2028)
9    North America Blockchain in Energy Utilities Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Blockchain in Energy Utilities Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Blockchain in Energy Utilities Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Blockchain in Energy Utilities Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Blockchain in Energy Utilities Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    International Business Machines Corporation
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    ConsenSys Software Inc.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Accenture PLC
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    LO3 Energy, Inc.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Infosys Limited
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Blockchain in Energy Utilities Market: Key Industry Highlights, 2018 and 2028
2.    Global Blockchain in Energy Utilities Historical Market: Breakup by Component (USD Million), 2018-2022
3.    Global Blockchain in Energy Utilities Market Forecast: Breakup by Component (USD Million), 2023-2028
4.    Global Blockchain in Energy Utilities Historical Market: Breakup by Application (USD Million), 2018-2022
5.    Global Blockchain in Energy Utilities Market Forecast: Breakup by Application (USD Million), 2023-2028
6.    Global Blockchain in Energy Utilities Historical Market: Breakup by Vertical (USD Million), 2018-2022
7.    Global Blockchain in Energy Utilities Market Forecast: Breakup by Vertical (USD Million), 2023-2028
8.    Global Blockchain in Energy Utilities Historical Market: Breakup by Region (USD Million), 2018-2022
9.    Global Blockchain in Energy Utilities Market Forecast: Breakup by Region (USD Million), 2023-2028
10.    North America Blockchain in Energy Utilities Historical Market: Breakup by Country (USD Million), 2018-2022
11.    North America Blockchain in Energy Utilities Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Europe Blockchain in Energy Utilities Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Europe Blockchain in Energy Utilities Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Asia Pacific Blockchain in Energy Utilities Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Asia Pacific Blockchain in Energy Utilities Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Latin America Blockchain in Energy Utilities Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Latin America Blockchain in Energy Utilities Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Middle East and Africa Blockchain in Energy Utilities Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Middle East and Africa Blockchain in Energy Utilities Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Global Blockchain in Energy Utilities Market Structure

Key Questions Answered in the Report

The global blockchain in the energy utilities market is projected to grow at a CAGR of 65.2% between 2023 and 2028.

The major drivers of the market include the government incentives toward adopting renewable power generation, increasing installation of smart meters, widespread adoption of smart management and control systems, and increasing independence of the local grid from outside energy sources.

Increased generation of renewable power to aid sustainable initiatives and increasing investment in numerous innovative projects are the key industry trends propelling the growth of the market.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various components in the market are platforms and services. Services are further divided into consulting and advisory services, development and integration services, and testing services, among others.

The significant applications of the market are grid management, energy trading, payment schemes, supply chain and logistics, among others.

The major verticals of the market are the power sector and the oil and gas sector.

The major players in the industry are International Business Machines Corporation, ConsenSys Software Inc., Accenture PLC, LO3 Energy, Inc., and Infosys Limited, among others.

Analyst Review

The global blockchain in the energy utilities market was driven by the increased generation of renewable power to support sustainable initiatives in the historical period. Aided by the government incentives toward adopting renewable power generation and increasing investment in numerous innovative projects, the market is expected to grow at a CAGR of 65.2% in the forecast period of 2023-2028.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The various components in the market are platforms and services. Services are further divided into consulting and advisory services, development and integration services, and testing services, among others. The significant applications of the market are grid management, energy trading, payment schemes, supply chain and logistics, among others. The major verticals of the market are the power sector and oil and gas sector. The major regional markets for blockchain in energy utilities are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The key players in the above market are International Business Machines Corporation, ConsenSys Software Inc., Accenture PLC, LO3 Energy, Inc., and Infosys Limited, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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