Blockchain in Energy Utilities Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Blockchain in Energy Utilities Market

The blockchain in energy utilities market size was valued at USD 127.5 million in 2018, and the market is now projected tgrow from USD 1,564.0 million by 2026, exhibiting a CAGR of 37.6% during the forecast period of 2019-2026.

Blockchain in energy utilities market growth is viewed alongside the increased generation of renewable energy treduce greenhouse emissions. Global oil and gas firms use blockchain technology tstreamline and secure operations. Start-ups are boosting market expansion at enterprise and consumer levels. Reduced fossil fuel dependency and decentralized grids increase demand. Blockchain optimizes electricity management and handles data from renewable producers.

Using blockchain in the energy utility market involves electrification in underdeveloped markets and peer-to-peer trading. This trading model is cheaper than most other trading models in the market. Blockchain enhances transparency and efficiency in energy transactions. It supports decentralized energy distribution and local grid management. These trends boost innovation and blockchain in the energy utilities market share.

Comprehensive Analysis of Blockchain in Energy Utilities Market

The blockchain in energy utilities market and information & communication technology industry is rising at an exponential rate due tits market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the information & communication technology industry. These segmentations are methodically segregated by Offerings and by Deployment. The offering includes, Vertical Solutions and Blockchain-as-a-Service. The deployment includes, Proof of Concept, Pilot and Production.

Advanced cybersecurity and stronger regulations drive blockchain's growth in the North American energy utilities market. Government efforts timprove energy efficiency and privacy further boost adoption. Blockchain enhances process transparency and security. Increased focus on grid modernization supports market expansion. These factors strengthen the region’s leadership in blockchain energy solutions.

The top players in the market play a crucial role in the information & communication technology industry assuring industrial prospectus growth and setting market standards. These players include, IBM Corporation, Greeneum, Oracle Corporation, Microsoft Corporation, EnergiMine, Accenture PLC, Infosys Limited, SAP SE, LO3 Energy Inc. and The Sun Exchange (Pty) Ltd. These market players provide a level-playing competitive landscape.

In November 2018, Shell and BP introduced an oil trading blockchain platform by Vakt treplace expensive, intermediary and unsafe procedures.

Segmentation Table

Global Industrial Cybersecurity Market Scope

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Growth Rate CAGR of 37.6% from 2019 t2026

Historical Period 2015-2017

Unit Value (USD billion)

Segmentation By Offerings, Deployment, and Region

By Offerings

Vertical Solutions

Blockchain-as-a-Service

By Deployment

Proof of Concept

Pilot

Production

By Region

North America (U.S. and Canada)

Europe (U.K., France, Germany, Scandinavia and Rest of Europe)

Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)

Middle East & Africa (GCC, South Africa and Rest of Middle East & Africa)

Latin America (Brazil, Mexico, and Rest of Latin America)