Blockchain In Energy Market Is Expected To Grow At ~ 29% CAGR During The Forecast Period.
Posted: May 29, 2018
Blockchain in energy market consists of five main components, the first being the technology type and second being the implementation type of technology. Global energy and power players can choose to implement the technology as service and solution providers, as a testing out phase as development platforms, can implement them as industry-specific solutions. For instance, a utility provider can choose their solar generation and distribution services alone to be powered by blockchain technologies to expand their operational flexibility and engage more customers. To do this, the next component, i.e., which is the platform type is extremely important. Several blockchain platform types are available with specific benefits such as increased security, tried and tested platform based and application specific developments, such as EV charging and payment process. For applications such as this, blockchain technology in energy industry can also enable customers and suppliers to generate instant contracts, such as smart contracts that need not be verified by intermediary agencies.
The industry is expected to witness several major benefits in coming years using the blockchain technology. With continuous experimentation and implementation of blockchain technology in energy industry in Australia, U.S and in Europe, and major firms are actively looking into it, the market is expected to witness a significant growth during the forecast period.
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.
Scope of the Report
This report provides an in-depth analysis of the global Blockchain in energy market, tracking five market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Blockchain in energy market by its technology type, Platform Type, Implementation type, end-use industry type, application and by region.
Regional Analysis: -
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 market has huge potential as it can considerably remove the intermediary processes along with faster and secure implementation of operations.
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