Utility Spending on Blockchain-based Platforms is Expected to Reach $3.7 Billion by 2026

Blockchain energy platforms must emphasize operational efficiency
before the technology can be widely adopted in the energy sector

BOULDER, Colo.–(BUSINESS WIRE)–#DER–A new report from Navigant
Research analyzes the market for blockchain-based platforms in the
utilities industry, providing forecasts for wholesale energy trading, EV
charging and integration, and transactive energy platforms through 2026.

In 2016 and 2017, millions of dollars flowed into energy-related
blockchain projects, and the adoption of the technology continues to
grow. As decentralized energy markets emerge, these opportunities for
energy-specific blockchain applications are an important target for
industry. Click
to tweet: According to a new report from @NavigantRSRCH, the total
utility spending on blockchain-based platforms is expected to reach $3.7
billion by 2026.

ÔÇ£The expectations for blockchain in the energy sector are sky-high,
helped along by hundreds of millions of dollars in venture capital
investments and initial coin offering (ICO) fundraising,ÔÇØ says Johnathon
de Villier, Research Analyst with Navigant Research. ÔÇ£However, the
technology is still immature and unproven, and utility spending will
grow at a much more measured pace.ÔÇØ

Future blockchain development in the utility industry depends on
external technological factors, including the penetration of smart
meters and networked charging infrastructure for electric vehicles.
According to the report, blockchain adoption will not be disruptive
until Internet of Things devices and communications technologies are
integrated into compatible blockchain networks.

This report, Utility
Blockchain Applications Market Overview, provides an overview of
the developing market for blockchain-based platforms in the utilities
industry. The study focuses on wholesale energy trading, certificates of
origin, EV charging and integration, meter registration and switching,
and transactive energy platforms. Global forecasts of utility spending,
segmented by region and use case, extend through 2026. The report also
describes the components of a blockchain architecture and explores the
competitive landscape and key challenges that must be addressed before
blockchain can be widely adopted in the energy sector.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The teamÔÇÖs research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. NavigantÔÇÖs
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, NavigantÔÇÖs
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report, Utility Blockchain Applications Market Overview, is a
summary and reflects Navigant ResearchÔÇÖs current expectations based on
market data and trend analysis. Market predictions and expectations are
inherently uncertain and actual results may differ materially from those
contained in this press release or the report. Please refer to the full
report for a complete understanding of the assumptions underlying the
reportÔÇÖs conclusions and the methodologies used to create the report.
Neither Navigant Research nor Navigant undertakes any obligation to
update any of the information contained in this press release or the
report.

Contacts

Navigant Research
Stefanie Bradtner, +49-221-270-70-142
[email protected]