Global Blockchain in Energy Utilities Market: Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024
Overview:
Blockchain supports energy trading across a wide range of commodity markets including crude oil, refined products, natural gas, and electric power. Within each business segment blockchain-powered solution can be deployed that produce, refine, distribute, and retail trade information related to pricing, position management, logistics, and risk reporting. Furthermore, power utilities can optimize the generation, distribution, and consumption of electricity through blockchain technologies. The development of specially designed blockchain solutions for electricity grids and new players such as decentralized producers of renewable energies are regularly generating large amounts of data that energy companies need to address. New users of electricity such as electric vehicles, connected houses, and new communicating equipment’s such as smart meters, sensors, and remote-control devices, are also causing a surge of data that the energy companies will have to capture, and examine in order to make informed decisions. Blockchain technologies offer suitable solutions for power utilities to achieve greater reliability, efficiency, and flexibility, and to preserve the balance between consumption and production in a rapidly changing energy landscape.
In addition, there is a lack of industry standards, which is still in the development phase. In the digitally connected world, the blockchain in energy utilities market has reported a significant growth and is presenting ample opportunities for the industry players. The blockchain solutions and services are used by organizations of all sizes (small, medium, and large) across power sector and oil & gas sector.
Market Analysis:
According to Infoholic Research, the global blockchain in energy utilities market is estimated to be $210.4 million in 2018 and is expected to reach $3,460.4 million by 2024, growing at a CAGR of 59.4% during the forecast period 2018–2024. The distributed energy and peer-to-peer electricity sales are some of the major factors which are expected to drive the market growth in the next 5–6 years. Due to the increasing automation in energy utilities, organizations are making real-time changes to the infrastructure that will help them to convert into blockchain-powered software and reduce TCO. Blockchain-powered solutions also help the energy utilities in improving their overall productivity.
Market Segmentation Analysis:
The study covers and analyzes global blockchain in energy utilities market by components, by services, by applications, by industry verticals, and regions. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenarios, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and make informed decisions. The regions covered includes North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The revenue is generated mainly from North America, Europe, and Asia Pacific. North America is leading the market followed by Europe with Asia Pacific emerging in blockchain in energy utilities market.
Regions and Vendors Analysis:
The report contains an in-depth analysis of the vendor profiles, which includes financial health, business units, key business priorities, SWOT, strategy, and views. The key and prominent vendors covered in the report include SAP SE, IBM Corporation, Microsoft Corporation, Infosys Limited, and HCL Technologies Limited among various others. The vendors have been identified based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D.
Benefits:
The report encompasses the study of blockchain in energy utilities market by components such as blockchain platform and services; by services such as consulting & advisory services, development & integration services, testing services, and others (support & maintenance); by applications such as grid management, energy trading, payment schemes, supply chain and logistics, and others. The blockchain-based innovation has received a lot of traction in the last three years. Blockchain innovation has a broad scope of use in energy and utilities. For instance, blockchain can assist users with making payment with cryptocurrency, to check exchanges, to close computerized contracts, to execute exchanges, among other applications. The evolution of technologies such as cloud computing, cognitive computing, and machine learning are paving the way for growth of blockchain in energy utilities. Furthermore, the report provides details about the major challenges impacting the market growth.
Table of Contents
1 Executive Summary 9
1.1 High Dominance and High Growth Markets in Blockchain in Energy Utilities 10
2 Industry Outlook 12
2.1 Industry Snapshot 12
2.1.1 Industry Trends 12
3 Market Snapshot 13
3.1 Total Addressable Market 13
3.2 Segment Addressable Market 13
3.2.1 PEST Analysis 14
3.2.2 Porter’s Five Force Analysis 14
3.3 Related Markets 15
4 Market Characteristics 17
4.1 Market Overview 17
4.2 Market Development and Technological Impact 17
4.3 Market Segmentation 18
4.4 Market Dynamics 19
4.4.1 Drivers 19
4.4.1.1 Peer-to-Peer energy trading 19
4.4.1.2 Increasing infrastructure flexibility 20
4.4.1.3 Increasing business performance and capacity 20
4.4.2 Restraints 20
4.4.2.1 Complexity in migration to blockchain technologies 20
4.4.2.2 Security concerns 20
4.4.2.3 Lack of awareness 20
4.4.2.4 Managing traditional networks 21
4.4.3 Opportunities 21
4.4.3.1 Growth of cloud computing technology 21
4.4.3.2 Software as a core strategy 21
4.4.3.3 Development of smart cities 21
4.4.3.4 Emerging economies 22
4.4.4 DRO – Impact Analysis 23
4.4.5 Key Stakeholders 24
5 Blockchain in Energy Utilities Market, By Component 25
5.1 Overview 25
5.2 Platform 26
5.3 Services 27
6 Blockchain in Energy Utilities Market, By Services 28
6.1 Overview 28
6.2 Consulting & Advisory Services 29
6.3 Development & Integration Services 30
6.4 Testing Services 32
6.5 Other Services 33
7 Blockchain in Energy Utilities Market, By Application 35
7.1 Overview 35
7.2 Grid Management 36
7.3 Energy Trading 38
7.4 Payment Schemes 39
7.5 Supply Chain and Logistics 40
7.6 Other Applications 41
8 Blockchain in Energy & Utilities Market, By Vertical 43
8.1 Overview 43
8.2 Power Sector 44
8.3 Oil & Gas Sector 45
9 Blockchain in Energy Utilities Market, By Geography 47
9.1 Overview 47
9.2 North America 48
9.2.1 DRO for North America 48
9.3 Europe 52
9.3.1 DRO for Europe 52
9.4 Asia Pacific 56
9.4.1 DRO for Asia Pacific 56
9.5 LAMEA 60
9.5.1 DRO for LAMEA 61
10 Vendor Profiles 64
10.1 SAP SE 64
10.1.1 Overview 64
10.1.2 Business Units 65
10.1.3 Business Focus 65
10.1.4 SWOT Analysis 66
10.1.5 Business Strategies 66
10.2 IBM Corporation 68
10.2.1 Overview 68
10.2.2 Business Units 69
10.2.3 Geographic Revenue 69
10.2.4 Business Focus 70
10.2.5 SWOT Analysis 70
10.2.6 Business Strategies 71
10.3 Microsoft 73
10.3.1 Overview 73
10.3.2 Business Units 73
10.3.3 Geographic Revenue 74
10.3.4 Business Focus 75
10.3.5 SWOT Analysis 75
10.3.6 Business Strategies 76
10.4 Infosys Limited 77
10.4.1 Overview 77
10.4.2 Geographic Revenue 77
10.4.3 Business Focus 78
10.4.4 SWOT Analysis 78
10.4.5 Business Strategies 79
10.5 HCL Technologies Limited 80
10.5.1 Overview 80
10.5.2 Business Units 81
10.5.3 Geographic Revenue 82
10.5.4 Business Focus 83
10.5.5 SWOT Analysis 83
10.5.6 Business Strategies 84
11 Companies to Watch for 86
11.1 Power Ledger Pty Ltd 86
11.1.1 Overview 86
11.1.2 Market Exposure/Differentiating Factor 86
11.2 Grid+ 87
11.2.1 Overview 87
11.2.2 Market Exposure/Differentiating Factor 87
11.3 LO3 Energy 88
11.3.1 Overview 88
11.3.2 Market Exposure/Differentiating Factor 88
11.4 WePower Network 89
11.4.1 Overview 89
11.4.2 Market Exposure/Differentiating Factor 89
11.5 WePower Network 90
11.5.1 Overview 90
11.5.2 Market Exposure/Differentiating Factor 90
12 Annexure 91
12.1 Report Scope 91
12.2 Research Methodology 91
12.2.1 Data Collation & In-house Estimation 91
12.2.2 Market Triangulation 92
12.2.3 Forecasting 93
12.3 Study Declarations 94
12.4 Report Assumptions 94
12.5 Abbreviations 95
List of Tables
TABLE 1 GLOBAL BLOCKCHAIN IN ENERGY UTILITIES MARKET VALUE, BY COMPONENT, 2018–2024 ($MILLION) 26
TABLE 2 GLOBAL BLOCKCHAIN SERVICES MARKET REVENUE, BY SERVICES TYPES, 2018–2024 ($MILLION) 29
TABLE 3 GLOBAL CONSULTING & ADVISORY SERVICES MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 31
TABLE 4 GLOBAL DEVELOPMENT & INTEGRATION SERVICES MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 32
TABLE 5 GLOBAL TESTING SERVICES MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 33
TABLE 6 GLOBAL OTHERS (SUPPORT & MAINTENANCE) SERVICES MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 34
TABLE 7 GLOBAL BLOCKCHAIN IN ENERGY & UTILITIES MARKET REVENUE, BY APPLICATION, 2018–2024 ($MILLION) 36
TABLE 8 GLOBAL GRID MANAGEMENT MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 38
TABLE 9 GLOBAL ENERGY TRADING MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 39
TABLE 10 GLOBAL PAYMENT SCHEMES MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 40
TABLE 11 GLOBAL SUPPLY CHAIN AND LOGISTICS MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 42
TABLE 12 GLOBAL OTHER APPLICATIONS MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 43
TABLE 13 GLOBAL BLOCKCHAIN SERVICES MARKET REVENUE, BY VERTICAL TYPE, 2018–2024 ($MILLION) 44
TABLE 14 GLOBAL POWER SECTOR MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 45
TABLE 15 GLOBAL OIL & GAS SECTOR MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 47
TABLE 16 GLOBAL BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE, BY GEOGRAPHY, 2018–2024 ($MILLION) 48
TABLE 17 DRO FOR NORTH AMERICA 49
TABLE 18 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN NORTH AMERICA BY COMPONENT, 2018–2024 ($MILLION) 50
TABLE 19 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN NORTH AMERICA BY SERVICES, 2018–2024 ($MILLION) 50
TABLE 20 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN NORTH AMERICA BY APPLICATIONS, 2018–2024 ($MILLION) 51
TABLE 21 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN NORTH AMERICA BY VERTICALS, 2018–2024 ($MILLION) 51
TABLE 22 DRO FOR EUROPE 53
TABLE 23 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN EUROPE BY COMPONENT, 2018–2024 ($MILLION) 54
TABLE 24 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN EUROPE BY SERVICES, 2018–2024 ($MILLION) 54
TABLE 25 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN EUROPE BY APPLICATIONS, 2018–2024 ($MILLION) 55
TABLE 26 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN EUROPE BY VERTICALS, 2018–2024 ($MILLION) 55
TABLE 27 DRO FOR ASIA-PACIFIC 57
TABLE 28 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN ASIA-PACIFIC BY COMPONENT, 2018–2024 ($MILLION) 58
TABLE 29 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN ASIA-PACIFIC BY SERVICES, 2018–2024 ($MILLION) 58
TABLE 30 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN ASIA-PACIFIC BY APPLICATIONS, 2018–2024 ($MILLION) 59
TABLE 31 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN ASIA-PACIFIC BY VERTICALS, 2018–2024 ($MILLION) 59
TABLE 32 DRO FOR LAMEA 62
TABLE 33 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN LAMEA BY COMPONENT, 2018–2024 ($MILLION) 62
TABLE 34 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN LAMEA BY SERVICES, 2018–2024 ($MILLION) 62
TABLE 35 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN LAMEA BY APPLICATIONS, 2018–2024 ($MILLION) 63
TABLE 36 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN LAMEA, BY VERTICALS, 2018–2024 ($MILLION) 64
TABLE 37 SAP SE: OVERVIEW SNAPSHOT 65
TABLE 38 SAP SE: BUSINESS UNITS 66
TABLE 39 SAP SE: SWOT ANALYSIS 67
TABLE 40 IBM CORPORATION: OVERVIEW SNAPSHOT 69
TABLE 41 IBM CORPORATION: BUSINESS UNITS 70
TABLE 42 IBM CORPORATION: GEOGRAPHIC REVENUE 70
TABLE 43 IBM CORPORATION: SWOT ANALYSIS 71
TABLE 44 MICROSOFT: OVERVIEW SNAPSHOT 74
TABLE 45 MICROSOFT: BUSINESS UNITS 74
TABLE 46 MICROSOFT: GEOGRAPHIC REVENUE 75
TABLE 47 MICROSOFT: SWOT ANALYSIS 76
TABLE 48 INFOSYS LIMITED: OVERVIEW SNAPSHOT 78
TABLE 49 INFOSYS LIMITED: GEOGRAPHIC REVENUE 78
TABLE 50 INFOSYS LIMITED: SWOT ANALYSIS 79
TABLE 51 HCL TECHNOLOGIES LIMITED: OVERVIEW SNAPSHOT 81
TABLE 52 HCL TECHNOLOGIES LIMITED: BUSINESS UNITS 82
TABLE 53 HCL TECHNOLOGIES LIMITED: GEOGRAPHIC REVENUE 83
TABLE 54 HCL TECHNOLOGIES LIMITED: SWOT ANALYSIS 84
TABLE 55 RESEARCH METHODOLOGY OF GLOBAL BLOCKCHAIN IN ENERGY UTILITIES MARKET: DATA COLLATION 93
TABLE 56 RESEARCH METHODOLOGY OF GLOBAL BLOCKCHAIN IN ENERGY UTILITIES MARKET: TRIANGULATION 93
TABLE 57 RESEARCH METHODOLOGY OF GLOBAL BLOCKCHAIN IN ENERGY UTILITIES MARKET: FORECASTING 94
List of Charts
CHART 1 PROPOSED BLOCKCHAIN ENABLED ENERGY TRADING PLATFORM 10
CHART 2 HIGH DOMINANCE AND HIGH GROWTH MARKETS, 2018 & 2024 12
CHART 3 GLOBAL BLOCKCHAIN IN ENERGY MARKET REVENUE, 2018–2024 ($MILLION) 14
CHART 4 PEST ANALYSIS: BLOCKCHAIN IN ENERGY UTILITIES MARKET 15
CHART 5 PORTER’S 5 FORCE ANALYSIS: BLOCKCHAIN IN ENERGY UTILITIES MARKET 15
CHART 6 MARKET SEGMENTATION: BLOCKCHAIN IN ENERGY UTILITIES 19
CHART 7 MARKET DYNAMICS – DRIVERS, RESTRAINTS & OPPORTUNITIES 20
CHART 8 DRO – IMPACT ANALYSIS: BLOCKCHAIN IN ENERGY UTILITIES MARKET 24
CHART 9 BLOCKCHAIN IN ENERGY UTILITIES MARKET BY COMPONENTS, 2018 AND 2024 26
CHART 10 BLOCKCHAIN PLATFORM MARKET VALUE, 2018–2023 ($MILLION) 27
CHART 11 GLOBAL BLOCKCHAIN SERVICES MARKET VALUE, 2018–2024 ($MILLION) 28
CHART 12 BLOCKCHAIN IN ENERGY UTILITIES MARKET BY SERVICES, 2018 AND 2024 29
CHART 13 GLOBAL CONSULTING & ADVISORY SERVICES MARKET REVENUE, 2018–2024 ($MILLION) 30
CHART 14 GLOBAL DEVELOPMENT & INTEGRATION SERVICES MARKET REVENUE, 2018–2024 ($MILLION) 31
CHART 15 GLOBAL TESTING SERVICES MARKET REVENUE, 2018–2024 ($MILLION) 33
CHART 16 GLOBAL OTHERS (SUPPORT & MAINTENANCE) SERVICES MARKET REVENUE, 2018–2024 ($MILLION) 34
CHART 17 BLOCKCHAIN IN ENERGY UTILITIES MARKET BY APPLICATIONS, 2018 AND 2024 36
CHART 18 GLOBAL GRID MANAGEMENT MARKET REVENUE, 2018–2024 ($MILLION) 37
CHART 19 GLOBAL ENERGY TRADING MARKET REVENUE, 2018–2024 ($MILLION) 39
CHART 20 GLOBAL PAYMENT SCHEMES MARKET REVENUE, 2018–2024 ($MILLION) 40
CHART 21 GLOBAL SUPPLY CHAIN AND LOGISTICS MARKET REVENUE, 2018–2024 ($MILLION) 41
CHART 22 GLOBAL OTHER APPLICATIONS MARKET REVENUE, 2018–2024 ($MILLION) 43
CHART 23 BLOCKCHAIN IN ENERGY UTILITIES MARKET SHARE BY VERTICALS, 2018 AND 2024 44
CHART 24 GLOBAL POWER SECTOR MARKET REVENUE, 2018–2024 ($MILLION) 45
CHART 25 GLOBAL OIL & GAS SECTOR MARKET REVENUE, 2018–2024 ($MILLION) 46
CHART 26 BLOCKCHAIN IN ENERGY UTILITIES MARKET SHARE BY REGIONS, 2018 AND 2024 48
CHART 27 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN NORTH AMERICA, 2018–2024 ($MILLION) 49
CHART 28 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN EUROPE, 2018–2024 ($MILLION) 53
CHART 29 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN ASIA-PACIFIC, 2018–2024 ($MILLION) 57
CHART 30 BLOCKCHAIN IN ENERGY UTILITIES MARKET REVENUE IN LAMEA, 2018–2024 ($MILLION) 61
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