Blockchain in Energy Market: Country level analysis of the market for segment by Type, Operating Dep
Posted: May 11, 2018
Global Blockchain in Energy market has been segmented based on technology type, platform type, Implementation type, by end-use industries, by application and by region. With increasing number of decentralized energy generation services such as solar PV’s and small-scale wind energy, blockchain technology facilitates the trading of energy through the platform. Especially, peer-to-peer trading in applications is expected to dominate the industry as several startups and utilities are currently investing in this space. This is followed by the smart contracts generation application which are expected to be instantaneous using blockchain technology. The global utilities, blockchain companies and small-time power providers are increasingly looking to exploit these explicit benefits blockchain provides in this particular segment. For instance, energy producers through renewable energy sources can sell excess energy within their community to the peers of their choice through blockchain. Hence peer-2-peer energy trading is expected to witness the highest growth rate. While, the utilities by end-use sector is expected to dominate for the same reason as several million worth investment has been made by partnerships between utilities and Blockchain counterparts. The oil & gas sector is not expected to lag far behind as several oil & gas majors including BP and Shell are currently investing in this technology. It is expected from these oil & gas majors that they will share a common platform which will revolutionize the way oil industry has been operating.
TOP KEY PLAYER: -
The key players of global blockchain in energy market are Power Ledger (Australia), Conjoule (Germany), Grid+ (U.S), Grid Singularity (Germany), Impact PPA (U.S), Exergy (LO3 energy) (U.S), The Sun Exchange (Pty) Ltd (South Africa), WePower UAB (Republic of Lithuania), and BTL Group Ltd.(Canada). Global blockchain (Canada), Electron (Chaddenwych Services Limited) (U.K), PONTON GmbH (Germany), Stedin Group (Netherlands), OURSOLARGRID (ITP Innovative Technology Projects GmbH) (Germany), and Omega Grid (U.S) are among others.
Market Research Analysis:
The global blockchain in energy market is segmented based on technology type, platform type, implementation type, end-use industries, and by applications across the different regions of the world.
With the ability to monitor and facilitate decentralized applications, blockchain implementation in energy industry is expected to create new business models, such as peer-to-peer energy trading facilities. With this, customers can choose whom they want to share the energy generated by them and it can be done without any third party or consortiums intervention. This is highly beneficial, especially in regions and places where there is more distributed energy sources such as solar power generation and small-scale wind. Hence peer-to-peer application is expected to show rapid growth rate. Besides, in the energy sector, the power and utilities operations is witnessing a number of blockchain based projects as more and more utilities and blockchain players are teaming with investment collaboration to check and expand the potential of this technology. On the other hand, major oil and gas companies, such as BO, Shell, and Statoil are all joining forces to create a common blockchain based platform for oil and gas operations. Blockchain in energy industry has huge potential as it can considerably remove the intermediary processes along with faster and secure implementation of operations.
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