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.
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Moreover, the agreement also requires power generation to be more flexible, distributed and through resources that could be managed through bi-directional communication, allowing investors to easily evaluate & track the impact of their investments. To achieve this mammoth task, investors, policy makers & regulators are likely to utilize blockchain technology, combining it with the Internet of Things (IoT), smart devices and big data. In a nutshell, this requirement would majorly help augment the deployment of blockchain in energy market.
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 in oil & gas sector is predicted to grow exponentially in the coming years. The oil & gas sector, in recent times, is transforming into a data-intensive industry. According to the Society of Petroleum Engineers, the industry is increasingly incorporating machine learning, artificial intelligence & IoT into its operations. According to the International Energy Agency, natural gas accounts for 22% of the energy utilized across the world and also makes up approximately a quarter of electricity generation. Moreover, natural gas is also projected to overtake coal as the world’s second largest energy source by 2030.
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The advancements in blockchain technology have made it a critical ‘trustless’ component in big data and smart IoT-based devices, making it capable of unlocking the new business models that are extremely necessary for the proposed transformation of the energy sector. According to the World Energy Council, in 2017 a sum ranging between $100-300 million was invested in more than 100 blockchain applications related to the energy sector. Considering its key role in shaping an energy-efficient future, the implementation of blockchain in energy market is expected to increase extensively in the forthcoming years.
Propelled by the expanding renewable and natural gas sectors, the blockchain in energy market is slated to record substantial growth in upcoming years. According to Global Market Insights, Inc., blockchain in energy market size is estimated to cross the $3 billion renumeration mark by 2025.
Table Of Content For This Research Report:
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
184.108.40.206 Global market from grid transaction, 2017 – 2025
220.127.116.11 Global market from grid transaction, by region, 2017 – 2025
18.104.22.168 Global market from peer-to-peer, 2017 – 2025
22.214.171.124 Global market from peer-to-peer, by region, 2017 – 2025
5.2.5 Energy financing
126.96.36.199 Global market from energy financing, 2017 – 2025
188.8.131.52 Global market from energy financing, by region, 2017 – 2025
5.2.6 Sustainability attribution
184.108.40.206 Global market from sustainability attribution, 2017 – 2025
220.127.116.11 Global market from sustainability attribution, by region, 2017 – 2025
5.2.7 Electric vehicle charging
18.104.22.168 Global market from electric vehicle charging, 2017 – 2025
22.214.171.124 Global market from electric vehicle charging, by region, 2017 – 2025
126.96.36.199 Global market from others, 2017 – 2025
188.8.131.52 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
184.108.40.206 Global market from supply chain, 2017 – 2025
220.127.116.11 Global market from supply chain, by region, 2017 – 2025
18.104.22.168 Global market from operations, 2017 – 2025
22.214.171.124 Global market from operations, by region, 2017 – 2025
126.96.36.199 Global market from trading, 2017 – 2025
188.8.131.52 Global market from trading, by region, 2017 – 2025
184.108.40.206 Global market from security, 2017 – 2025
220.127.116.11 Global market from security, by region, 2017 – 2025
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