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.
The revenue graph of blockchain in energy market is poised to depict exponential growth as the need to develop & deploy new efficient ways of generating & delivering electricity, under the Paris Agreement, intensifies. According to the International Finance Corporation, the Paris Agreement aimed to tackle climate change by generating energy through reliable, clean energy sources. However, countering climate change by completely overhauling the way energy is generated would require emerging markets to mobilize trillions of dollars through different sources.
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Blockchain in Energy Market is anticipated to exceed USD 3 billion by 2025. Growing complexity of power grids owing to increasing integration of renewable energy sources along with burgeoning demand for energy efficient systems for optimizing the grid operations will boost the blockchain in energy market. In addition, increased focus of the utilities toward the technology adoption coupled with massive propensity of the technology to direct constructive transformation will complement the business landscape. Since 2017, over 70 pilot projects have been deployed and more than 140 startups have been announced globally.
Emergence of peer-to-peer platform along with the unveiling of smart meters have initiated disintermediation, thereby driving the blockchain in energy market. Emerging focus of power utilities to explore thy potential benefits of the technology coupled with increasing percentage of empowered prosumers existing in the renewable power trading will further foster the industry growth. For instance, residents in Bangkok are involved in peer-to-peer energy trading and have a total generating capacity of about 635 kW.
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.
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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Accelerating investments toward the adoption of the technology coupled with enhanced initiatives toward exploring and promoting its research & development will drive the Europe blockchain in energy market. Enhanced focus to promote energy efficiency, privacy, cybersecurity and interoperability to implement & improve the current technology will further propel the industry landscape.
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.
Glimpse of Table of Content (ToC)
Chapter 5 Blockchain in Energy Market, By Application
5.1 Blockchain in energy market 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
18.104.22.168 Global market from grid transaction, 2017 – 2025
22.214.171.124 Global market from grid transaction, by region, 2017 – 2025
126.96.36.199 Global market from peer-to-peer, 2017 – 2025
188.8.131.52 Global market from peer-to-peer, by region, 2017 – 2025
5.2.5 Energy financing
184.108.40.206 Global market from energy financing, 2017 – 2025
220.127.116.11 Global market from energy financing, by region, 2017 – 2025
5.2.6 Sustainability attribution
18.104.22.168 Global market from sustainability attribution, 2017 – 2025
22.214.171.124 Global market from sustainability attribution, by region, 2017 – 2025
5.2.7 Electric vehicle charging
126.96.36.199 Global market from electric vehicle charging, 2017 – 2025
188.8.131.52 Global market from electric vehicle charging, by region, 2017 – 2025
184.108.40.206 Global market from others, 2017 – 2025
220.127.116.11 Global market from others, by region, 2017 – 2025
5.3 Oil & Gas
5.3.1 Global market from oil & gas, 2017 – 2025
5.3.2 Global market from oil & gas, by region, 2017 – 2025
5.3.3 Supply chain
18.104.22.168 Global market from supply chain, 2017 – 2025
22.214.171.124 Global market from supply chain, by region, 2017 – 2025
126.96.36.199 Global market from operations, 2017 – 2025
188.8.131.52 Global market from operations, by region, 2017 – 2025
184.108.40.206 Global market from trading, 2017 – 2025
220.127.116.11 Global market from trading, by region, 2017 – 2025
18.104.22.168 Global market from security, 2017 – 2025
22.214.171.124 Global market from security, by region, 2017 – 2025
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