Blockchain In Energy Utilities Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company's Blockchain In Energy Utilities Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 14, 2024 /EINPresswire.com/ -- The blockchain in energy utilities market has experienced robust growth in recent years, expanding from $0.62 billion in 2023 to $0.87 billion in 2024 at a compound annual growth rate (CAGR) of 40.6%. The growth in the historic period can be attributed to need for transparency and security, decentralization of energy systems, reduction in operational costs, regulatory support and pilot programs, increased digitalization, enhanced grid management, consumer demand for green energy.

Strong Future Growth Anticipated
The blockchain in energy utilities market is projected to continue its strong growth, reaching $3.41 billion in 2028 at a compound annual growth rate (CAGR) of 40.7%. The growth in the forecast period can be attributed to expansion of renewable energy sources, enhanced energy trading platforms, growing smart grid deployments, supportive regulatory frameworks, collaborative industry initiatives.

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Growth Driver Of The Blockchain In 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.

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Major Players And Market Trends
Key players in the blockchain in energy utilities market include Shell plc, Microsoft Corporation, Enel SpA, Engie S.A., Siemens AG, Accenture PLC, International Business Machines Corporation.
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.

Segments:
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

Geographical Insights: North America Leading The Market
North America was the largest region in the blockchain in energy utilities market in 2023. 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.

Blockchain In Energy Utilities Market Definition
Blockchain in energy utilities refers to the application of blockchain technology to the energy sector, enhancing transparency, security, and efficiency in energy transactions. It enables decentralized energy trading, real-time grid management, and secure peer-to-peer energy transfers. Additionally, blockchain facilitates improved compliance and risk management, streamlined payment schemes, and optimized supply chain management within the energy utilities industry.

Blockchain In Energy Utilities Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Blockchain In Energy Utilities Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on blockchain in energy utilities market size, blockchain in energy utilities market drivers and trends, blockchain in energy utilities market major players, blockchain in energy utilities competitors' revenues, blockchain in energy utilities market positioning, and blockchain in energy utilities market growth across geographies. The blockchain in energy utilities market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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