Blockchain in Energy Market Size, Share, Growth by 2031
The blockchain in energy market is anticipated to expand at a CAGR of 71.5% from 2023 to 2031. The expanding use of decentralized and renewable energy sources, such as wind turbines, solar panels, and microgrids, is expected to complement the global blockchain in the energy sector.
Blockchain in Energy Market Analysis
Blockchain technology can reduce the risk of illegal activity, improve the efficiency of energy trade and billing systems, and promote a decentralized and sustainable energy ecosystem. Blockchain technology can verify and track the authenticity of renewable energy certificates and carbon credits, boosting the adoption of sustainable energy sources while reducing greenhouse gas emissions.
Blockchain in Energy Industry Overview
- Blockchain is a decentralized network that uses distributed ledger technology to provide secure, transparent, and efficient transaction and data management.
- Blockchain technology can improve the energy sector in a variety of ways, including streamlining smart grid operations, promoting peer-to-peer energy trading, enabling safe transactions for renewable energy, and improving energy supply chain management.
- Blockchain facilitates the flow of information between decentralized energy resources, automates energy transactions using smart contracts, and assures transparency in the tracking of green energy certificates and carbon credits.
Strategic Insights
Blockchain in Energy Market Drivers and Opportunities
Increased Adoption of Decentralized and Renewable Energy Sources to Drive the Blockchain in Energy Market
- The growing use of decentralized and renewable energy sources such as solar panels, wind turbines, and microgrids is a big driver of blockchain adoption in the energy sector.
- These sources can provide surplus energy, which can be traded with other customers or grid operators via blockchain platforms. Blockchain technology enables decentralized energy trade, allowing users to transact directly and without intermediaries. This leads to a more efficient and democratic energy economy.
Blockchain in Energy Market Report Segmentation Analysis
- Based on component, the blockchain in the energy market is segmented into platforms and services. The platform segment is expected to hold a substantial blockchain in energy market share in 2023.
- Blockchain in energy platform automates the creation and trading of renewable energy certificates and credits based on actual energy consumption. It makes use of a peer-to-peer microgrid that employs smart contracts to manage energy flows and ensure payments.
Blockchain in Energy Market Share Analysis By Geography
The scope of the blockchain in energy market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific (APAC) North America is experiencing rapid growth and is anticipated to hold a significant blockchain in energy market share. This is because countries such as the US, Mexico, and Canada are working to raise awareness among their citizens about the benefits of using technology. Even the government is taking steps to promote the benefits and ensure that their citizens use the new technologies. Moreover, government agencies are providing cash to implement blockchain technology to secure energy systems. For example, the US Department of Energy (DOE) has awarded TFA Labs about US $ 200,000 in financing to help safeguard the national power system.
Blockchain in Energy Market Report Scope
The "Blockchain In Energy Market Analysis" was carried out based on component, application, end user, and geography. Based on the component, the blockchain in the energy market is segmented into platforms and services. In terms of application, the market is segmented into energy trading, grid management, supply chain management, payment schemes, and government risk & compliance management. Based on end user, the market is segmented into power and oil & gas. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Blockchain in Energy Market News and Recent Developments
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the blockchain energy market. The blockchain in energy market forecast can help stakeholders plan their growth strategies. A few recent key market developments are listed below:
- In January 2022, Indi EV provides a new sort of mobile blockchain that aims to change the EV industry. Independent Electric Vehicle, a Los Angeles-based business developing the next generation of electric vehicles, introduced a new feature for its flagship vehicle, the INDI One, at the Consumer Electronics Show (CES) in Las Vegas.
[Source: Indi EV, Company Website]
- In July 2021, DIC Corporation collaborated with SAPSE on a pilot project that used blockchain technology to build a waste plastics traceability system. The system aimed to promote the recycling of plastic materials
[Source: DIC Corporation, Company Website]
Blockchain in Energy Market Report Coverage & Deliverables
The market report on “Blockchain in Energy Market Size and Forecast (2021–2031)”, provides a detailed analysis of the market covering below areas-
- Market size & forecast at global, regional, and country- level for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities.
- Key future trends.
- Detailed PEST & SWOT analysis
- Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, key players, recent developments.
- Detailed company profiles.
Blockchain in Energy Market Report Analysis
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CAGR (2023 - 2031)71.5% -
Market Size 2023
US$ XX Million -
Market Size 2031
US$ XX Million
Report Coverage
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Industry landscape and competition analysis & recent developments
- Detailed company profiles
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
Key Players
- Accenture plc
- Acciona
- S A
- BigchainDB GmbH
- ConsenSys AG
- Deloitte
- Enosi
- GridPlus Inc
- LO3 Energy
- Power Ledger Pty Ltd
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
By Component
- Platform and Services
By Application
- Energy Trading
- Grid Management
- Supply Chain Management
- Payment Schemes
- Government Risk and Compliance Management
By End User
- Power
- Oil and Gas
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Blockchain in Energy Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ XX Million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2023 - 2031) | 71.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The key players holding majority shares in the global blockchain in energy market are Accenture plc., Acciona, S.A., BigchainDB GmbH, ConsenSys AG, and Deloitte.
Innovation across international trade and supply chain is anticipated to play a significant role in the global blockchain in energy market in the coming years.
The global blockchain in energy market is expected to grow at a CAGR of 71.5% during the forecast period 2023 - 2031.
Increased adoption of decentralized and renewable energy sources and growing security concerns across the globe are the major factors that propel the global blockchain in energy market.
- Accenture plc.
- Acciona
- S.A.
- BigchainDB GmbH
- ConsenSys AG
- Deloitte
- Enosi
- GridPlus Inc.
- LO3 Energy
- Power Ledger Pty Ltd.
- WePower
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