Market Snapshot:
Blockchain is a technology that is used to record or share information securely. Blockchain is becoming more popular in the energy and utility industry as it helps to improve internal processes and automatic settlement of trades. The high growth of next-generation technology and increasing industrialization have created a huge demand for energy will create significant opportunities for the market. Further, increasing the use of microgrids and smart meters to reduce transmission loss and accurate recording of energy will boost the adoption of blockchain technology.
Highlights from Blockchain in Energy & Utilities Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key Players profiled in the report are Protokol (Netherlands), IBM (United States), Oracle Corporation (United States), SAP (Germany), Amazon Web Services (United States), Microsoft Corporation (United States), Greeneum (Israel), Everledger (United Kingdom), ConsenSys (United States), Factom (United States) and Capgemini (France).
Geographic Breakdown and Segment Analysis
The Global Blockchain in Energy & Utilities market presents a comprehensive analysis of the Blockchain in Energy & Utilities market by product type (Public Blockchains, Private Blockchains, Consortium Blockchains and Hybrid Blockchains), by end-user/application (Peer-to-Peer Energy Trading, Renewable Energy Certificates (RECs), Automatic Settlement, Microgrids, Smart Meters, Asset Maintenance and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Blockchain in Energy & Utilities industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Blockchain in Energy & Utilities market
Analyst at AMA have segmented the market study of Global Blockchain in Energy & Utilities market by Type, Application and Region.
Influencing Trend:
Emerging Trend of Blockchain Technology in Energy Utilities
Market Growth Drivers:
Surging Demand of Blockchain in the Energy Sector for P2P Energy Trading and Increasing Adoption of Blockchain Technology in Microgrids
Challenges:
High Energy Consumption or Low Transaction Speeds
Restraints:
Lack of Interoperability and Complexity in the Understanding of Blockchain Technology
Opportunities:
Rapidly Growing Renewable Energy Sector Across the Globe
Market Developments Activities:
In February 2021, ConsenSys announced the acquisition of MyCrypto, a deep-rooted Ethereum interface, to team up with the market-leading Web3 wallet, MetaMask.
In January 2018, BRIEF-Capgemini Says Consortium Creates Blockchain-Based Solution For Italian Corporate Insurance
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Blockchain Technology Providers, Venture Capitalists and Private Equity Firms, Government Bodies and Research Organizations, End-Users and Others