Europe blockchain in energy market is expected to garner substantial revenues over by 2025 on account of growing investments towards digitization of processes and technology adoption, combined with revised initiatives for promoting and exploring R&D in secure blockchain. Besides, growing necessity for ensuring privacy, efficiency, interoperability and cybersecurity to enhance existing operations will influence the industry demand.
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Growing power grid complexity due to increased adoption of renewable energy sources paired with surging demand for energy efficient systems to enhance grid efficiency will foster blockchain in energy market size. The advent of smart metering systems along with the rise of peer-to-peer platforms have resulted in disintermediation, which will further drive the adoption of blockchain in utility applications during analysis period. In addition, increased deployment of blockchain projects worldwide and accelerating investments towards advancing the technology will boost the industry penetration.
Growing demand to achieve balance between energy supply and demand mismatch coupled with increasing security concerns owing to ongoing advancements in internet connected devices will accelerate the blockchain in energy market growth. Moreover, increasing deployment of the blockchain projects globally coupled with accelerating investments from various power giants toward its adoption will stimulate the technology demand. For instance, from the second quarters of 2017 till the first quarter of 2018, venture capitals and ICOs invested nearly USD 271 million toward blockchain based applications.
Blockchain in energy market from private category in 2025 will grow over 45%. Strict control to reduce the downtime along with massive level of security provided by this platform are some of the key parameters stimulating the technology adoption. Moreover, lesser load and limited participants increases its competence to achieve faster transaction rate in comparison to its counterpart, thereby enhancing the business growth.
Oil & gas blockchain in energy market will exhibit substantial growth on account of rising concerns to enhance the trade accuracy along with technical efficiency of the technology to improve accessibility to trade data. Extensive ability to improve the scheduling and back office efficiency along with subsequent reduction in the working capital cycle will accelerate the product penetration across the industry. Furthermore, growing emphasis to eradicate the need for clearinghouses and confirmation processing combined with its potential to provide high degree of security, accuracy and reliability of transactions will propel the business outlook.
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Eminent players operating in the blockchain in energy market comprise of Power Ledger, Limited, Oracle, Grid Singularity, Accenture, Greeneum, Drift, SAP, Electron, Grid+, Sun Exchange, WePower, LO3 Energy, EnergiMine, Conjoule GmbH amongst others.
Some Points From Table Of Content: –
Chapter 5 Blockchain in Energy Market, By Application
5.1 Blockchain in energy industry share by application, 2018 & 2025
5.2.1 Global market from power, 2017 – 2025
5.2.2 Global market from power, by region, 2017 – 2025
5.2.3 Grid transaction
126.96.36.199 Global market from grid transaction, 2017 – 2025
188.8.131.52 Global market from grid transaction, by region, 2017 – 2025
5.2.5 Energy financing
5.2.6 Sustainability attribution
5.2.7 Electric vehicle charging
5.3 Oil & Gas
5.3.3 Supply chain
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