Blockchain in Energy Industry Global Market Expected To Grow At A CAGR of 29%.

Blockchain in energy industry Research Report- Forecast to 2023

Blockchain in Energy Industry Global Market

Expected To Grow At A CAGR of 29%.

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Copyright Š 2018 Market Research Future.

Blockchain in energy industry Research Report- Forecast to 2023

1 Summary Blockchain in energy industry 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.

Key Players: The key players of global blockchain in energy Industry 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.

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Copyright Š 2018 Market Research Future.

Blockchain in energy industry Research Report- Forecast to 2023

2 Market Overview Global Blockchain in Energy Industry market has been segmented based on technology type, platform type, Implementation type, by end-use industries, by application and by region. With increasing number of decentralized energy generation services such as solar PV’s and small-scale wind energy, blockchain technology facilitates the trading of energy through the platform. Especially, peer-to-peer trading in applications is expected to dominate the industry as several startups and utilities are currently investing in this space. This is followed by the smart contracts generation application which are expected to be instantaneous using blockchain technology. The global utilities, blockchain companies and small-time power providers are increasingly looking to exploit these explicit benefits blockchain provides in this particular segment. For instance, energy producers through renewable energy sources can sell excess energy within their community to the peers of their choice through blockchain. Hence peer-2-peer energy trading is expected to witness the highest growth rate. While, the utilities by end-use sector is expected to dominate for the same reason as several million worth investment has been made by partnerships between utilities and Blockchain counterparts.

Drivers

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Copyright Š 2018 Market Research Future.

Blockchain in energy industry Research Report- Forecast to 2023

3 Market Research Analysis Grid management and peer-to-peer energy trading services are expected to command a major market share The global blockchain in energy industry is segmented based on technology type, platform type, implementation type, end-use industries, and by applications across the different regions of the world.

With the ability to monitor and facilitate decentralized applications, blockchain implementation in energy industry is expected to create new business models, such as peer-to-peer energy trading facilities. With this, customers can choose whom they want to share the energy generated by them and it can be done without any third party or consortiums intervention. 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.

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Copyright Š 2018 Market Research Future.

Blockchain in energy industry Research Report- Forecast to 2023

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Copyright Š 2018 Market Research Future.