Blockchain in Energy Market Growth Prospects 2023 and Projected to Reach US$ 7110.1 Million

The Asia Pacific is expected to be the largest market for blockchain in energy market in 2023 and is projected to grow at the highest CAGR during the forecast period. Australia accounted for the largest share of the blockchain in energy market in the Asia Pacific in 2017 as it is one of the early adopters of the blockchain technology in the region.

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The blockchain in energy market is projected to reach USD 7,110.1 million by 2023, from an estimated USD 394.3 million in 2018, at a CAGR of 78.32%. This growth can be attributed to the increasing popularity of the blockchain technology in the energy sector, high transaction speeds and immutability, and the rising security concerns across the globe.

Blockchain in Energy Market, By Component
1 Introduction
2 Platform
3 Services

Blockchain in Energy Market, By End-User
1 Introduction
2 Power Sector
3 Oil & Gas Sector

Blockchain in Energy Market, By Application
1 Introduction
2 Grid Management
3 Energy Trading
4 Government Risk and Compliance Management
5 Payment Schemes
6 Supply Chain Management

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The report segments the blockchain in energy market, by type, into private and public. The private segment is expected to hold the largest market share by 2023, as it is more secure than public blockchain. Also, public blockchain would need larger integrated systems such as blockchain infrastructure and connectivity, whereas private blockchain can be implemented on a smaller scale.

Competitive Landscape
1 Introduction
2 Ranking of Players, 2017
3 Competitive Scenario
4 New Product Developments
5 Investments & Expansions
6 Mergers & Acquisitions
7 Contracts & Agreements

Target Audience:
• Blockchain security providers
• Blockchain technology vendors
• Communication service providers
• Consultants/consultancies/advisory firms
• Energy associations
• Government agencies
• Independent software vendors
• Infrastructure and protocol providers
• Managed Service Providers (MSPs)
• Network solution providers
• Payment gateway providers
• Support and maintenance service providers
• System integrators and implementation service providers
• Third-party service providers
• Trading software providers
• Value-Added Resellers (VARs)

The power segment is one of the major end-users of the blockchain in energy market. Also, this segment is expected to hold the largest market share during the forecast period. The blockchain technology in the power sector plays a major role in managing distributed energy resources and provides companies with more cost-effective and efficient solutions to record and process transactional data.

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The distribution of primary interviews is as follows:
• By Company Type: Tier 1- 65%, Tier 2- 21%, and Tier 3- 14%
• By Designation: C-Level- 28%, Managers- 36%, and Others- 36%
• By Region: Asia Pacific-57%, North America-13%, and South America 5%, and RoW-25%

The report defines, describes, and forecasts the global blockchain in energy market by type, component, application, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges.

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