Press release
Blockchain In Energy Utilities Market Size Projected To Reach $4.8 Billion By 2034 With A Cagr Of 40.6%
Blockchain In Energy Utilities Market Size
What Is the Projected Growth of the Blockchain In Energy Utilities Market?
The blockchain in energy utilities market size has expanded rapidly in recent years. It will grow from $0.87 billion in 2024 to $1.23 billion in 2025, at a CAGR of 40.9%. The growth is driven by the demand for transparency and security, decentralization of energy systems, reduction in operational costs, regulatory support, increased digitalization, improved grid management, and rising demand for green energy.
The blockchain in energy utilities market is expected to see exponential growth, reaching $4.8 billion by 2029, at a CAGR of 40.6%. This growth is fueled by the expansion of renewable energy sources, energy trading platforms, smart grid deployments, and supportive regulations. Key trends include advancements in consensus mechanisms, AI integration, Blockchain-as-a-Service (BaaS), interoperability with legacy systems, and decentralized energy markets.
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What Are the Different Blockchain In Energy Utilities Market Segments?
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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What Are the Primary Drivers Shaping the Blockchain In Energy Utilities Market?
The increasing use of decentralized and renewable energy sources is projected to drive blockchain growth in the energy utilities sector. These sources, such as solar, wind, and hydropower, are growing due to the focus on energy security, environmental sustainability, and economic competitiveness. Blockchain technology aids in managing these energy sources by supporting peer-to-peer trading and grid management. In April 2023, the U.S. Energy Information Administration reported a 4% increase in hydropower and geothermal energy use in 2022 compared to 2021, signaling a higher priority on clean energy. As a result, the adoption of decentralized and renewable energy sources is boosting blockchain in the energy market.
Which Companies Are Leading in 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, 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 Trends Are Driving Growth in The Blockchain In Energy Utilities Market?
Companies in the blockchain energy utilities market are focusing on developing innovative platforms, such as emissions management systems, to enhance transparency and sustainability. For example, in March 2024, Blockchain for Energy (B4E), a US-based consortium, launched B4ECarbon. This platform leverages blockchain, AI, and IoT technologies to track, report, and reduce emissions, ensuring data accuracy and promoting sustainability across the energy sector.
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What Are the Top Revenue-Generating Geographies in 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Blockchain In Energy Utilities Market?
2. What is the CAGR expected in the Blockchain In Energy Utilities Market?
3. What Are the Key Innovations Transforming the Blockchain In Energy Utilities Industry?
4. Which Region Is Leading the Blockchain In Energy Utilities Market?
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