Blockchain In Energy Utilities Market Trends, Key Drivers, Opportunities, Leading Players And Forecast To 2033

The new report published by The Business Research Company, titled Blockchain In Energy Utilities Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the blockchain in energy utilities market size has grown exponentially in recent years. It will grow from $0.62 billion in 2023 to $0.87 billion in 2024 at a compound annual growth rate (CAGR) of 40.6%. The blockchain in energy utilities market size is expected to see exponential growth in the next few years. It will grow to $3.41 billion in 2028 at a compound annual growth rate (CAGR) of 40.7%.

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Rising Adoption of Decentralized and Renewable Energy Sources Fuels Growth of Blockchain in the 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.

Blockchain Revolutionizes Energy Management As B4ECarbon Paves The Way For Transparency And Sustainability
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.

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

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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 , CleanCarbonClean Carbon Private Limited, Blok-Z

Contents of the report:
1. Executive Summary
2. Blockchain In Energy Utilities Market Report Structure
3. Blockchain In Energy Utilities Market Trends And Strategies
4. Blockchain In Energy Utilities Market - Macro Economic Scenario
5. Blockchain In Energy Utilities Market Size And Growth
…..
27. Blockchain In Energy Utilities Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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