Blockchain in energy utilities Market Introduction and Overview
According to SPER Market Research, the Global Blockchain in energy utilities Market is estimated to reach USD 14793.95 million by 2023 with a CAGR of 37.85%.
The report includes an in-depth analysis of the Global Blockchain in energy utilities Market, including market size and trends, product mix, Applications, and supplier analysis. The energy sector could undergo a complete transformation thanks to blockchain technology, which offers a transparent and safe platform for data storage and transactions. Peer-to-peer energy trading, renewable energy certifications, supply chain management, grid management, and smart contracts are just a few of the energy sector applications that can benefit from the blockchain. Blockchain technology could facilitate the creation of decentralized energy markets where people and companies can transact directly for and buy energy from one another. As a result, there might be less demand for centralized utilities, making the energy system more reliable and efficient.
- November 2020: Emarsys eMarketing Systems was purchased by SAP SE . With the integration of Emarsys and the capabilities of its current technologies, SAP Consumer Service will offer a framework for personalized omnichannel communication, engaging customers on their preferred platforms, at their convenience, and according to their terms.
- October 2020: Blue Acorn iCi was acquired by Infosys Limited. With this arrangement, Infosys will be able to provide a far better end-to-end client experience and demonstrates its continued commitment to helping customers with their digitalization journey. By combining consumer involvement, digital trading, analysis, and experience-driven commodities trading, Blue Acorn iCi will give Infosys vital cross-technology experience.
Market Opportunities and ChallengesThe decentralization of the energy business is one of the main areas of growth for blockchain technology. In the past, the production, distribution, and sale of electricity have all been under the hands of a small number of very big utility firms, fragmenting the energy market. The development of microgrids and peer-to-peer energy trading, however, presents an opportunity for blockchain technology to decentralize the energy market. Individuals and companies can purchase and sell electricity directly to one another through peer-to-peer energy trading, doing away with the need for a centralized utility provider. Blockchain-driven systems make this possible by enabling safe and transparent energy trading and payment settlement. Peer-to-peer energy trading enabled by blockchain can boost the resilience and dependability of the energy system and open up new revenue streams for producers and consumers.
In the energy sector, there may be substantial regulatory obstacles to the implementation of blockchain technology. Blockchain and other innovative technologies regularly encounter legal and regulatory obstacles in the highly regulated energy sector. One of the biggest legal obstacles facing blockchain in the energy sector is compliance with data privacy rules. Securities and private information, including financial and personal data, are traded on the energy markets.Blockchain systems that include data storage and transfer may find it difficult to comply with laws like the California Consumer Privacy Act (CCPA) and the general data protection legislation (GDPR) of the European Union. Making sure energy market rules are followed presents another regulatory difficulty. Energy trading platforms that rely on blockchain technology are subject to several rules, including those pertaining to market structure, fraud prevention, and anti-manipulation.
Market Competitive Landscape
There are a number of significant businesses in the competitive and fragmented Global Blockchain in Energy utilities market are Accenture, AWS, Bigchaindb,BTL, Deloitte,Grid+,IBM, Infosys, Microsoft,Nodalblock, others are a few of the top companies in the sector.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Component, By Application, By End User
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Accenture, AWS, Bigchaindb,BTL, Deloitte,Grid+,IBM,Infosys,Microsoft,Nodalblock. |
COVID-19 Impact on Global Blockchain in Energy Utilities Market
Users of digital and energy technology, as well as enterprises, now have even greater incentive to do so in light of the COVID-19 pandemic crisis. The organization was aware of how much it relied on energy and digital technologies to enable people to work from home, heat their houses, operate hospitals, and conduct business. Though the crisis has disrupted energy networks and slowed down investments, a resilient and decentralized energy infrastructure is still essential. The COVID-19 epidemic has shown the potential of blockchain technology to enhance grid resilience, facilitate remote energy transactions, and promote supply chain transparency.
Key Target Audience:
- Utility Companies
- Energy Consumers and Prosumers (producers & consumers)
- Government regulators
- Technology companies
- Investors
Our in-depth analysis of the Blockchain in energy utilities Market includes the following segments:
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By Type: |
Private
Public
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By Component: |
Platform
Services
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By End-user: |
Power
Oil and Gas
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By Application: |
Grid Management
Energy Trading
Government Risk and Compliance Management
Payment Schemes
Supply Chain Management
Others
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Key Topics Covered in the Report:
- Global Blockchain in energy utilities Market Size (FY’2024-FY’2033)
- Overview of Global Blockchain in energy utilities Market
- Segmentation of Global Blockchain in energy utilities Market By Type (Private, Public)
- Segmentation of Global Blockchain in energy utilities Market By Component (Platform, Services)
- Segmentation of Global Blockchain in energy utilities Market By Application (Grid Management, Energy Trading, Government Risk and Compliance,Management, Payment Schemes, Supply Chain Management, Others)
- Segmentation of Global Blockchain in energy utilities Market By End User (Power, Oil & gas)
- Statistical Snap of Global Blockchain in energy utilities Market
- Expansion Analysis of Global Blockchain in energy utilities Market
- Problems and Obstacles in Global Blockchain in energy utilities Market
- Competitive Landscape in the Global Blockchain in energy utilities Market
- Impact of COVID-19 and Demonetization on Global Blockchain in energy utilities Market
- Details on Current Investment in Global Blockchain in energy utilities Market
- Competitive Analysis of Global Blockchain in energy utilities Market
- Prominent Players in the Global Blockchain in energy utilities Market
- SWOT Analysis of Global Blockchain in energy utilities Market
- Global Blockchain in energy utilities Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Blockchain In Energy Utilities Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Blockchain In Energy Utilities Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Blockchain In Energy Utilities Market
7. Global Blockchain In Energy Utilities Market, By Type (USD Million) 2020-2033
7.1. Global Blockchain In Energy Utilities Market Size, Share and Forecast, By Type, 2020-2026
7.2. Global Blockchain In Energy Utilities Market Size, Share and Forecast, By Type, 2027-2033
7.3. Private
7.4. Public
8. Global Blockchain In Energy Utilities Market, By Component (USD Million) 2020-2033
8.1. Global Blockchain In Energy Utilities Market Size, Share and Forecast, By Component, 2020-2026
8.2. Global Blockchain In Energy Utilities Market Size, Share and Forecast, By Component, 2027-2033
8.3. Platform
8.4. Services
9. Global Blockchain In Energy Utilities Market, By End-user (USD Million) 2020-2033
9.1. Global Blockchain In Energy Utilities Market Size, Share and Forecast, By End-user, 2020-2026
9.2. Global Blockchain In Energy Utilities Market Size, Share and Forecast, By End-user, 2027-2033
9.3. Power
9.4. Oil and Gas
10. Global Blockchain In Energy Utilities Market, By Application (USD Million) 2020-2033
10.1. Global Blockchain In Energy Utilities Market Size, Share and Forecast, By Application, 2020-2026
10.2. Global Blockchain In Energy Utilities Market Size, Share and Forecast, By Application, 2027-2033
10.3. Grid Management
10.4. Energy Trading
10.5. Government Risk and Compliance Management
10.6. Payment Schemes
10.7. Supply Chain Management
10.8. Others
11. Global Blockchain in Energy Utilities Market Forecast, 2019-2033 (USD Million)
11.1. Global Blockchain in Energy Utilities Market Size and Market Share
12. Global Blockchain In Energy Utilities Market, By Region, 2020-2033 (USD Million)
12.1. Global Blockchain In Energy Utilities Market Size and Market Share By Region (2020-2026)
12.2. Global Blockchain In Energy Utilities Market Size and Market Share By Region (2027-2033)
12.3. Asia-Pacific
12.3.1. Australia
12.3.2. China
12.3.3. India
12.3.4. Japan
12.3.5. South Korea
12.3.6. Rest of Asia-Pacific
12.4. Europe
12.4.1. France
12.4.2. Germany
12.4.3. Italy
12.4.4. Spain
12.4.5. United Kingdom
12.4.6. Rest of Europe
12.5. Middle East and Africa
12.5.1. Kingdom of Saudi Arabia
12.5.2. United Arab Emirates
12.5.3. Qatar
12.5.4. South Africa
12.5.5. Egypt
12.5.6. Morocco
12.5.7. Nigeria
12.5.8. Rest of Middle-East and Africa
12.6. North America
12.6.1. Canada
12.6.2. Mexico
12.6.3. United States
12.7. Latin America
12.7.1. Argentina
12.7.2. Brazil
12.7.3. Rest of Latin America
13. Company Profile
13.1. ACCENTURE
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. AWS.
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. BIGCHAINDB
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. BTL
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. DELOITTE
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. GRID+
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. IBM
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. INFOSYS
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. MICROSOFT
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. NODALBLOCK
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
13.11. OTHERS
16. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
