Blockchain in Energy Market Segmentation by Type (Public, and Private); by Component (Platform, and Services); by End-User (Power Sector, and Oil & Gas Sector); and by Application (Peer-to-Peer Transaction, Grid Transactions, Energy Financing, Electric Vehicle, Sustainability Attribution, and Others) – Global Demand Analysis & Opportunity Outlook 2020-2030
Buy Now Report ID: 1402 | Published Date: Feb 06, 2023Global Blockchain in Energy Market TOC
Growth Drivers
Challenges
Regionally, the global blockchain in energy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe is anticipated to garner the largest revenue of USD 11411.5 Million by the end of 2030, up from a revenue of USD 202.0 Million in the year 2020. The growth of the market in the region can primarily be attributed to the increasing emphasis of the government of nations in the region for refining energy efficiency, enhance interoperability, and encourage cross-border engagement amongst the various stakeholders that provide energy. Besides this, the European Commission has also introduced the EU Blockchain Observatory and Forum as a European Parliament pilot project, whose prime task is to monitor the blockchain initiatives in Europe, and also produce a comprehensive source of blockchain knowledge. Moreover, increasing funding initiatives to promote the adoption of the technology is also expected to drive the market growth in the region. According to the European Commission, the European Blockchain Partnership (EBP) has aimed to scale the investment fund of around USD 2.33 Billion to fully develop its European Blockchain Services Infrastructure (EBSI) platform. The market in the region is segmented by country into Germany, France, United Kingdom, Italy, Spain, Russia, Netherlands, and the Rest of Europe. Out of these, the market in Germany is anticipated to generate the largest revenue of USD 2590.4 Million by the end of 2030, up from a revenue of USD 46.6 Million in the year 2020.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global blockchain in energy market is segmented by type into public, and private. Out of these, the private segment is anticipated to grow with the highest CAGR of 52.3% during the forecast period. On the basis of component, the market is segmented into platform, and services, out of which, the platform segment is anticipated to register the highest market share throughout the forecast period. By end-user, the market is segmented into power sector, and oil & gas sector, out of which, the power sector is expected to generate the largest revenue by the end of 2030, and also grow with the highest CAGR during the forecast period. Moreover, the market is segmented by application into peer-to-peer transaction, grid transactions, energy financing, electric vehicle, sustainability attribution, and others. Out of these, the peer-to-peer transaction segment is expected to garner the largest revenue of USD 10268.9 Million by the end of 2030, up from a revenue of USD 175.5 Million in the year 2020.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global blockchain in energy market that are included in our report are Accenture, Amazon Web Services, Inc., IBM Corporation, SAP SE, Deloitte Touche Tohmatsu Limited, Chaddenwych Services Limited (Electron), ConsenSys Software Inc., LO3 Energy, Inc., BigchainDB GmbH, Energy Web Foundation (EWF), Power Ledger Pty Ltd, Ondiflo, GridPlus, Blok-Z, Lightency, and others.
February 24th, 2021: Accenture in association with Microsoft Corporation, announced that their joint venture, Avanade, would work together to transform the energy system of the utility and energy companies in the United Kingdom, and also work towards lowering the cost of decarbonizing the supply and demand of electricity in the nation by the utilization of open data, artificial intelligence and a digital workforce.
July 30th, 2019: Ondiflo announced that it has collaborated with the onshore oil and gas unit of BP in the U.S.., BPX Energy, and has successfully completed its Proof of Value (PoV) project of fluid hauling.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Abhishek Verma, Hetal Singh
Ans: The increasing advancement in technology, and the rise in adoption of blockchain technology in the energy sector, are some of the major factors anticipated to drive the market growth.
Ans: The market is anticipated to attain a CAGR of 51.6% over the forecast period, i.e., 2021 – 2030.
Ans: The fear of fraudulent activities as blockchain is connected to cryptocurrencies, and the lack of awareness amongst end-users are some of the factors estimated to hamper the market growth.
Ans: The market in Europe is anticipated to garner the largest revenue of USD 11411.5 Million by the end of 2030 and display significant business opportunities in the future.
Ans: The major players in the market are Accenture, Amazon Web Services, Inc., IBM Corporation, SAP SE, Deloitte Touche Tohmatsu Limited, Chaddenwych Services Limited (Electron), ConsenSys Software Inc., LO3 Energy, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, component, end-user, application, and by region.
Ans: The peer-to-peer transaction segment is expected to garner the largest revenue of USD 10268.9 Million by the end of 2030 and display significant growth opportunities.
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