Blockchain in Energy Market - Industry Growth, Analysis, Trends and Forecast upto 2024 | BIS Reports

The Blockchain in Energy Market Analysis by BIS Research projects the market to grow at a significant CAGR of 54.09% during the forecast period from 2019 to 2024. Increasing integration of renewable energy sources and increasing demand for decentralised power generation are the factors supporting the growth of blockchain in energy, globally.

The blockchain in energy market growth is majorly driven by the rise of solar roof-top installations and increasing need for energy independence. The market has also been witnessing increasing project launches and platform launch activities since the last three years. The developments in the market are largely driven by key players in the energy industry and governments investing into the fast growing blockchain in the energy market.

The global blockchain in energy market research provides a detailed perspective regarding the blockchain applications, its value, and its estimation, among others. The purpose of this market analysis is to examine blockchain in the energy industry in terms of factors driving the market, trends, developments, and regulatory landscape, among others. 

The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and project contributions of the key players operating in the market. The blockchain in energy study is a compilation of different segments including market breakdown by technology type, component, end user, application, and region. 

Market Segmentation

The blockchain in energy market (on the basis of blockchain type) is further segmented into public and private segments. The public blockchain dominated the global blockchain in energy market in 2018 and is anticipated to maintain its dominance throughout the forecast period (2019-2024). 

The blockchain in energy market, on the basis of components, is segmented into platforms & software and hardware & services. The  platform & software segment dominated the global blockchain in energy market in 2018 and is anticipated to maintain its dominance throughout the forecast period. 

The blockchain in energy market segmentation, on the basis of end user, is segmented into power and oil & gas. The power segment dominated the global blockchain in energy market in 2018 and is anticipated to maintain its dominance throughout the forecast period. 

The blockchain in energy market segmentation, on the basis of application, is segmented into power applications and oil & gas applications. The power application is further segmented into peer-to-peer power trade, grid management & system operation, electric mobility, renewable energy financing, management of renewable energy certificates, and others. The peer-to-peer power trade segment dominated the global blockchain in energy market in 2018 for power applications and is anticipated to maintain its dominance throughout the forecast period. 

The oil & gas application is further segmented into ticketing solutions, commodity trading, and others. The commodity trading segment dominated the global blockchain in energy market in 2018 for oil & gas applications and is anticipated to maintain its dominance throughout the forecast period. 

The blockchain in energy market by region is segregated under four major sections, namely North America, Europe, Asia-Pacific, and Rest-of-the-World. Data for each of these regions has been provided by power application, oil & gas application, and by country.

Key Companies in the Blockchain in Energy Industry

The key market players in the global blockchain in energy market include IBM Corporation, Microsoft Corporation, Oracle Corporation, BP plc, E.ON SE, LO3 Energy, Inc., Power Ledger, TenneT Holding B.V., Energy Web Foundation, Electron, Grid Plus, Inc., VAKT Global Ltd., and Ondiflo, and others.

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Key Questions Answered in this Report :

•    What is the global blockchain in energy market size in terms of revenue from 2018-2024, and what is the expected growth rate during the forecast period 2019-2024? 

•    What is the revenue generated by different types of blockchains such as public and private at a global and regional level?

•    What is the revenue generated by blockchain based on different components such as platforms & software and hardware & services at a global and regional level?

•    What is the revenue generated by blockchain based on different end users such as power and oil & gas at a global and regional level?

•    What is the revenue generated by blockchain based on different applications for power and oil & gas at a global and regional level?

•    What is the market size and what are the various market opportunities of blockchain in energy across different regions?

•    What are the major driving forces that are expected to increase the demand for the blockchain in energy market during the forecast period?

•    What are the major challenges inhibiting the growth of the global blockchain in energy market?

•    Which are the major stakeholders in terms of their contribution and impact in the blockchain in energy ecosystem?

•    What kind of new strategies are adopted by the existing market players to expand their market position in the industry?

•    What is the regulatory landscape in different regions for blockchain in energy?

Expert Quote -

"With the increasing demand for energy and need for grid management, the demand for a technology to help manage the systems and reduce operational costs has also increased rapidly. This has resulted in blockchain becoming a potential cost saving technology.”

“Currently, blockchain is in a relatively primary stage of its technology lifecycle, however with the ongoing investments and new project launches, the revenue from blockchain is expected to grow exponentially.”

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