Rising Adoption of Decentralized and Renewable Energy Sources Fuels Growth of Blockchain in the Energy Utilities Market Driver: Leading Transformation in the Blockchain In Energy Utilities Market in 2025

What Are the Projected Growth and Market Size Trends for the Blockchain In Energy Utilities Market?
In recent times, the size of the blockchain in energy utilities market has seen exponential growth. It's projected to expand from a value of $0.87 billion in 2024 to $1.23 billion in 2025, representing a compound annual growth rate (CAGR) of 40.9%. Factors that spurred growth during the historic period include the demand for transparency and security, decentralization of energy systems, decrease in operational costs, support from regulations and pilot programs, increased digital transformation, improved grid management, and growing consumer demand for green energy.

Predictions show the blockchain's influence on the energy utilities market is set to experience significant growth in the coming years. The market size is expected to reach $4.8 billion in 2029, demonstrating a compound annual growth rate (CAGR) of 40.6%. This predicted growth within the forecast period can be largely credited to an increase in renewable energy sources, the development of superior energy trading platforms, the rising number of smart grid installations, beneficial regulatory structures, and collaborative efforts within the industry. The primary trends anticipated within the forecast period comprise advancements in consensus mechanisms, merging with artificial intelligence, the expansion of Blockchain-as-a-Service (BaaS), compatibility with existing systems, novel innovations in smart contracts, the development of decentralized energy markets, and an emphasis on cybersecurity.

What Is Stimulating Growth in the Blockchain In Energy Utilities Market?
The expansion of blockchain in the energy utilities sector is likely to be driven by increasing uptake of decentralized and renewable energy sources. These local, small-scale power sources tap into naturally replenishing elements like the sun, wind or water. As there is a heightened focus on energy security, environmental sustainability and economic competitiveness, the demand for decentralized and renewable energy sources is on the rise. Blockchain technologies are employed within the energy industry to smoothly integrate and manage these growing decentralized and renewable energy sources via peer-to-peer energy trading and grid management. For example, in April 2023, an EIA report stated that hydropower generation and use of geothermal energy saw a 4% rise in 2022 from 2021. This rise in renewable energy production and consumption resulted in record highs, accounting for approximately 13% (13.40 quads) of total energy production and 13% (13.18 quads) of total energy consumption and highlighting the increased emphasis on clean energy sources. Consequently, the increasing use of decentralized and renewable energy sources is propelling the progress of blockchain in the energy utilities sector.

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Which Leading Companies Are Shaping the Growth of 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

What Are the Major Trends Shaping the Blockchain In Energy Utilities Market?
Prominent corporations in the energy utilities market that use blockchain are prioritizing the creation of inventive platforms like comprehensive emissions management platforms to magnify transparency and sustainability. These platforms empower firms to take data-backed decisions that augment transparency, streamline reporting, and bolster sustainability endeavors. For example, in March 2024, Blockchain for Energy (B4E), a consortium of leading energy corporations based out of the USA and functioning as a non-profit, rolled out the B4ECarbon solution. This pioneering product, jointly developed by Enovate AI, harnesses blockchain technology, AI, and IoT systems to transform the tracking, reporting, and tactics to reduce emissions. B4ECarbon is an all-inclusive emissions management solution that uses blockchain to ensure data is precise, transparent, and verifiable. It also incorporates AI to facilitate intelligent reporting and data-based decision-making for reducing emissions while also encouraging cooperation across the energy sector by adhering to established industry standards.

What Are the Key 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 Region Dominates the Blockchain In Energy Utilities Market?
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 Is Covered In The Blockchain In Energy Utilities Global Market Report?

- Market Size Analysis: Analyze the Blockchain In Energy Utilities Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Blockchain In Energy Utilities Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Blockchain In Energy Utilities Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Blockchain In Energy Utilities Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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