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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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Some of the leading companies that are operating in the global Blockchain in Energy Utilities market are:
- IBM Corporation
- Greeneum
- Oracle Corporation
- Microsoft Corporation
- EnergiMine
- Accenture PLC
- Infosys Limited
- SAP SE
- LO3 Energy Inc.
- The Sun Exchange (Pty) Ltd.
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Europe and North America to Witness Considerable Growth Driven by Increasing Government Initiatives
The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the markets in North America and Europe are estimated to witness considerable growth in the coming years. The increasing government initiatives aimed at promoting business deployment methods will lead to a subsequent rise in the demand for the product in this region. Further, focus on promoting green energy and the deployment of numerous green purchase programs will constitute growth of the Blockchain in Energy Utilities market in Europe. Besides Europe, the market in Asia Pacific is likely to witness considerable growth in the coming years, owing to growing incorporation of blockchain technology in applications across diverse industries. As of 2018, the market in Asia Pacific was worth USD 21.9 million and the region is projected to emerge as the fastest growing region during the forecast period.
Market Segmentation Of Blockchain in Energy Utilities Market –
- 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)
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