Blockchain in Energy Market Size Forecasted to Reach Valuation of USD 8,761.4 Million by 2027

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The global blockchain in energy market is expected to be valued at USD 8,761.4 Million by 2027 from USD 287.0 Million in 2019, registering a CAGR of 56.1% during the forecast period. This growth is attributable to rise in adoption of blockchain in the energy industry. Safety concerns associated with automated grids are propelling the growth of the global blockchain in the energy market. Additionally, the rising adoption of Internet of Things (IoT) technologies estimated to drive the market growth in the coming years.

However, uncertainty over the regulatory environment associated with power generations, has created concerns regarding customer credibility, which is restraining market growth to some extent.

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Key Highlights From Report

• In October 2020, Infosys Limited acquired GuideVision. Through this acquisition, Infosys will look for technological transformation. Additionally, expansion of Infosys Cobalt’s cloud services offering and its commitment to the rising ServiceNow ecosystem.
• Due to its higher accessibility, the public sub-segment is estimated to acquire largest share in the overall market owing to its ease for incentive-based payment authentication.
• The Peer-To-Peer Transaction sub-segment is projected to remain dominant in the blockchain in energy market. This growth is attributable to the shifting focus toward development of RES energy, especially solar & marine and wind.
• The power sub-segment dominated the market and is projected to expand at a CAGR of 56.2% over the forecast period. This growth is attributable to the increase in adoption of blockchain technologies’ for their ability to manage decentralized sources of energy.
• Regionally, the market in Europe is estimated to dominate the market over the forecast period owing to the growing government funding for adoption of advanced technologies in the region.
• Key participants in the blockchain in energy market include SAP SE, Infosys Limited, Oracle Corporation, WePower UAB, Accenture plc, IBM Corporation, Deloitte Touche Tohmatsu Limited, Microsoft Corporation, BigchainDB GmbH, and LO3 Energy, Inc.

Emergen Research has segmented the Global Blockchain in Energy Market on the basis of type, component, application, end-use, and region:

• Type Outlook (Revenue, USD Million; 2017-2027)
  • Public
  • Private

• Component Outlook (Revenue, USD Million; 2017-2027)
  • Services
  • Platform

• Application Outlook (Revenue, USD Million; 2017-2027)
  • Peer-To-Peer Transaction
  • Grid Transactions
  • Energy Financing
  • Electric Vehicle
  • Sustainability Attribution
  • Others

• End-Use Outlook (Revenue, USD Million; 2017-2027)
  • Oil & Gas
  • Power

• Regional Outlook (Revenue, USD Million; 2017-2027)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. U.A.E.
    3. Rest of MEA

To get leading market solutions, visit the link below:  https://www.emergenresearch.com/industry-report/blockchain-in-energy-market