The global Blockchain in energy utilities market size is projected to reach USD 1,564.0 million by the end of 2026. According to a report published by Fortune Business Insights, titled “Blockchain in Energy Utilities Market Size, Share & Industry Analysis, By Offerings (Vertical Solutions, Blockchain-as-a-Service), By Deployment (Proof of Concept, Pilot, and Production) and Regional Forecast, 2019-2026,” the market size was USD 127.5 million in 2018 and will exhibit a CAGR of 37.6% during the forecast period, 2019-2026.
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The increasing adoption of concepts such as blockchain as a service (BaaS) has created several growth opportunities for the companies operating in the market. The demand for blockchain technologies has risen dramatically in recent years, owning to its exceptional properties and ability to enable optimum business operations. The growing demand for BaaS will have a direct impact on the growth of the market in the forthcoming years. Increasing government investment as well as initiatives towards the use of blockchain across several industrial domains will fuel the demand for the product across the world.
The report provides an in-depth analysis of the global Blockchain in Energy Utilities market. It highlights key aspects of the market, including leading product types, major companies and areas that have witnessed the highest applications. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years. Forecast values have been provided for the market for the period of 2019-2026. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals.
Some of the leading companies that are operating in the global Blockchain in Energy Utilities market are:
- IBM Corporation
- Oracle Corporation
- Microsoft Corporation
- Accenture PLC
- Infosys Limited
- SAP SE
- LO3 Energy Inc.
- The Sun Exchange (Pty) Ltd.
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Market Segmentation Of Blockchain in Energy Utilities Market –
- By Offerings
- Vertical Solutions
- By Deployment
- Proof of Concept
- 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)
Key Industry Developments:
November 2018: Shell and Bharat Petroleum announced the launch of a blockchain oil trading platform. The system is developed by Vakt and recommended for low-cost, no-intermediary, and secure transactions.
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