Blockchain in Energy Market Latest Industry Trends & Forecast to 2016-2022

Author: Akshay Mehta

The global blockchain in energy market was valued at USD 279.0 million in 2017 and is projected to reach USD 7,110.1 million by 2023, at a CAGR of 78.32%, during the forecast period.

This growth can be attributed to the Increasing popularity of the blockchain technology in the energy sector, the need to manage infrastructure and other business functions through high transaction speeds and immutability, and the rising security concerns across the globe.

Major players operating in the blockchain in energy market include Microsoft (US), Accenture (Ireland), IBM (US), Infosys (India), and SAP (Germany).

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Scope of the Report:

By Type

  • Private
  • Public

By Component

  • Platform
  • Services

By End-User

  • Power
  • Oil & Gas

By Application

  • Grid Management
  • Energy Trading
  • Government Risk and Compliance Management
  • Payment Schemes
  • Supply Chain Management
  • Others

By Region

  • Asia Pacific
  • Europe
  • North America
  • RoW

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Objectives of the Study

  • To define and segment the blockchain in energy market with respect to type, component, application, end-user, and region
  • To provide detailed information about major factors influencing the growth of the blockchain in energy market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the blockchain energy market with respect to individual growth trends, future expansions, and contributions to the market
  • To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
  • To forecast the growth of the blockchain in energy market with respect to the major regions (Asia Pacific, Europe, North America, and RoW)
  • To strategically profile key players and comprehensively analyze their market rankings and core competencies
  • To analyze competitive developments such as new product development, mergers & acquisitions, expansions & investments, and contracts & agreements, in the blockchain energy market

Research Methodology

This research study involved the use of extensive secondary sources, directories, journals on power generation technologies, and other related rental markets; newsletters and databases such as Hoover’s, Bloomberg, Businessweek, and Factiva to identify and collect information useful for a technical, market-oriented, and commercial study of the global blockchain energy market. The primary sources include several industry experts from the core and related industries, vendors, preferred suppliers, technology developers, alliances, and organizations related to all the segments of this industry’s value chain.

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The report segments the blockchain in energy market, by type, into private and public. The private segment is expected to hold the largest market share by 2023, as it is more secure than public blockchain. Also, public blockchain would need larger integrated systems such as blockchain infrastructure and connectivity, whereas private blockchain can be implemented on a smaller scale.

The blockchain in energy market, by component, is segmented into platform and services. The services segment is expected to dominate the blockchain in energy market by 2023. Most of the companies are tying up with various blockchain startups to implement blockchain operations such as energy trading, grid management, and supply chain management.

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