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Global Blockchain in Energy Utilities Market Size, Forecast: By Component: Platform, Services; By Application: Grid Management, Energy Trading, Payment Schemes, Supply Chain and Logistics, Others; By Vertical: Power Sector, Oil and Gas Sector; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
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 2024-2032, owing to the increased generation of renewable power to support sustainable initiatives.
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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.
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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.
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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 | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Application |
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| Breakup by Vertical |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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 (2018-2023)
8.3 Global Blockchain in Energy Utilities Market Forecast (2024-2032)
8.4 Global Blockchain in Energy Utilities Market by Component
8.4.1 Platform
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Services
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Breakup by Type
8.4.2.3.1 Consulting and Advisory Services
8.4.2.3.2 Development and Integration Services
8.4.2.3.3 Testing Services
8.4.2.3.4 Others
8.5 Global Blockchain in Energy Utilities Market by Application
8.5.1 Grid Management
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Energy Trading
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Payment Schemes
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Supply Chain and Logistics
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Blockchain in Energy Utilities Market by Vertical
8.6.1 Power Sector
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Oil and Gas Sector
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Blockchain in Energy Utilities Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Blockchain in Energy Utilities Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Blockchain in Energy Utilities Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Blockchain in Energy Utilities Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Blockchain in Energy Utilities Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Blockchain in Energy Utilities Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
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 2032
2. Global Blockchain in Energy Utilities Historical Market: Breakup by Component (USD Million), 2018-2023
3. Global Blockchain in Energy Utilities Market Forecast: Breakup by Component (USD Million), 2024-2032
4. Global Blockchain in Energy Utilities Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Blockchain in Energy Utilities Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Blockchain in Energy Utilities Historical Market: Breakup by Vertical (USD Million), 2018-2023
7. Global Blockchain in Energy Utilities Market Forecast: Breakup by Vertical (USD Million), 2024-2032
8. Global Blockchain in Energy Utilities Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Blockchain in Energy Utilities Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Blockchain in Energy Utilities Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Blockchain in Energy Utilities Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Blockchain in Energy Utilities Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Blockchain in Energy Utilities Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Blockchain in Energy Utilities Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Blockchain in Energy Utilities Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Blockchain in Energy Utilities Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Blockchain in Energy Utilities Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Blockchain in Energy Utilities Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Blockchain in Energy Utilities Market Forecast: Breakup by Country (USD Million), 2024-2032
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 2024 and 2032.
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 2024-2032.
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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