Blockchain in Energy Market (By Type: Private, Public; By Application: Sustainability Attribution, Electric Vehicle, Energy Financing, Grid Transactions, Peer-To-Peer Transaction, Others; By End-Use: Power, Oil & Gas) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global blockchain in energy market size was exhibited at USD 5.09 billion in 2022 and is projected to hit around USD 1,634.39 billion by 2032, growing at a CAGR of 78.1% during the forecast period 2023 to 2032.

Key Pointers:

• U.S. is expected to expand at a significant CAGR between 2023 and 2032.
• By Type, the public segment is predicted to hold the largest market between 2023 and 2032.
• By Application, the Peer-to-Peer Transaction segment is projected to dominate the market between 2023 and 2032.
• By End-use, the power segment is predicted to dominate the market between 2023 and 2032.

Blockchain in Energy Market Report Scope

The enterprise ethereum blockchain is considered to be the next big thing in the energy sector. Blockchain can be effectively used for sustainability and energy conservation by devising new energy business models, moving carbon credits and real-time data management. The market for blockchain in energy will possibly augment owing to increased preference for decentralized power generation. 

Positive outlook toward digitization of systems on account of increasing installation of smart meters across regions is set to foster the blockchain in energy market share. Decentralized energy systems along with widespread adoption of smart management & control systems to implement advanced communication is projected to complement the industry outlook. In addition, rapid development in the Renewable Energy Sources (RES) owing to privatization of the energy sector coupled with government initiatives toward electricity conservation will augment the product installation. For instance, in 2018, RES contributed 40% of the total electricity production in Germany.

Rising focus toward energy utilities in exploring the latent benefits of the technology for low-carbon transition and sustainability will stimulate the blockchain share in energy sector. Reducing dependency on fossil fuels coupled with increasing independence of local grid from outside energy sources in the long term is anticipated to drive the industry scenario. Increasing investment in numerous innovative projects ranging from solar systems for electric vehicles charging & e-mobility will further boost the product adoption.

The U.S. blockchain in energy market is projected to witness growth of over USD 400 million by 2025. Capability to transform the fundamental structure of the energy industry and microgrids to facilitate peer to peer energy trading in an immutable and secure way will encourage the product installation. For instance, the Brooklyn Microgrid was introduced in 2016 and it aims at enabling residents to buy and sell power directly amongst each other by maintaining a secure ledger of energy asset possession.

 Germany is anticipated to grow at a fast pace owing to the increasing complexity of power and shifting focus toward the adoption of smart grids. As per the European Commission, presently there are 308 smart grid projects which hold an investment of USD 2.53 billion. Moreover, increasing investment from energy start-up companies along with growing funding activities will strengthen the industry landscape. Government incentives toward the adoption of renewable power generation accompanied by favourable regulatory policies to promote the technology adoption is set to augment the product installation.

Some of the prominent players in the Blockchain in Energy Market include:

• BigchainDB GmbH
• LO3 Energy, Inc.
• Deloitte Touche Tohmatsu Limited
• Microsoft Corporation
• IBM Corporation
• WePower UAB
• Accenture plc
• Oracle Corporation
• SAP SE
• Infosys Limited

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Blockchain in Energy market.

By Type

• Private
• Public

By Application

• Sustainability Attribution
• Electric Vehicle
• Energy Financing
• Grid Transactions
• Peer-To-Peer Transaction
• Others

By End-Use

• Power
• Oil & Gas

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)