Market Research Logo

Global Blockchain Market In The Energy Sector - Growth, Trend and Forecasts (2018 - 2023)

Global Blockchain Market In The Energy Sector - Growth, Trend and Forecasts (2018 - 2023)

Blockchain Market In The Energy Sector Market is expected to register a CAGR of over 50%, during the forecast period 2018 - 2023. The scope of the market covers the solutions and services of the blockchain technology.

The global energy market is estimated to be USD 8.9 trillion and is largely monopolized. By incorporating blockchain technology, the industry can move from its present centralized architecture to a more decentralized peer-to-peer energy trading market, thus allowing consumers to trade energy within a peer-to-peer market. Further, this also allows more transparency and security across the enterprise as well.

There are a number of blockchain-based enterprises that are already working on tailored energy solutions. For instance, Electron, which is a UK startup and Power Ledger an Australian blockchain-based energy company are some of the firms that are working to implement the peer-to-peer energy trading market. Also, Blox Labs Inc., in partnership with Sonoro Energy Ltd., has commenced development of “PetroBLOX”, a blockchain-based smart contract supply chain management platform for the global oil and gas industry. All these factors coupled with the growing investments by venture capitalists, investments in microgrids, greater acceptance of cryptocurrency, collaborations between blockchain companies and energy corporations have been instrumental in driving the global blockchain market in the energy sector. However, the lack of regulations and the presence of open source platforms is hindering the growth of this market.

Smart Contracts to Witness the Fastest Growth

While the deployment of cryptocurrencies is an alternative to other digital payment systems, the use of smart contracts is far more sophisticated, such as bonds, mortgages, and property transactions and peer to peer trading among others. Smart contracts, can reduce labor costs, reduce manual and semi-automated processes, reduce capital costs through faster settlements, and reduce technology costs by decreasing dependency on redundant systems. It has the potential to enable company savings in the range of 30 - 60%. With the aim to streamline processes and the increasing adoption of automation across the energy sector has created opportunities for the deployment of smart contracts.

United Kingdom to Witness Fastest Growth in Europe

The blockchain market in UK is buoyed by government initiatives which includes the investment a total of EUR 19 million in projects which will result in new products or service in the fields of emerging and enabling technologies, including using distributed ledgers. Prior to this, Innovate UK was also funded with EUR 248,000 to a blockchain startup to develop a cross-border financial transaction tool. Further, with an increasing focus on deployment of smart grids and smart meters aimed at fulfilling the country’s 2020 goals, there has been a drive in the adoption of blockchain technology. For instance, Centrica, the United Kingdom’s largest supplier of residential energy has partnered with LO3 Energy to initiate a pilot peer-to-peer renewable energy trading program to mitigate the impacts of renewable energy curtailment. All these factors have been instrumental in driving the market for blockchain in the energy sector in the country.

Key Developments in Blockchain Market In The Energy Sector

May 2018 - Amazon announced its partnership with Kaleido, a start-up company aimed at offering blockchain-as-a-service (BaaS) to its AWS business customers. This partnership is aimed at strengthening the company’s position in the blockchain technology market.

Major Players: AMAZON WEB SERVICES, INC., IBM CORPORATION, MICROSOFT CORPORATION, SAP SE, RIPPLE LABS INC., CAPGEMINI SE, CHAIN, INC., EARTHPORT PLC, BITFURY USA INC., BTL GROUP and ALPHAPOINT CORPORATION, amongst others.

Reasons to Purchase Blockchain Market In The Energy Sector Report

Current and future Blockchain Market outlook in the energy sector in the developed and emerging economies
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segments that are expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
3 month analyst support along with the Market Estimate sheet (in excel)

This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.


1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Blockchain Market In The Energy Sector Research Approach and Methodology
3. Executive Summary
4. Blockchain Market In The Energy Sector Dynamics
4.1 Blockchain Market In The Energy Sector Overview
4.2 Factors Driving the Blockchain Market In The Energy Sector
4.2.1 Emergence of Variable Electricity Rates
4.2.2 Need for Peer-to-Peer Energy Trading Platforms to Grow Economic Potential of Countries
4.2.3 Aggressive Spending by Venture Capitalists
4.2.4 Success of Bitcoin
4.3 Factors Challenging the Blockchain Market In The Energy Sector
4.3.1 Lack of a Regulatory Framework
4.3.2 Presence of Open Source Platforms
4.4 Industry Attractiveness – Porter’s Five Forces
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute products or services
4.4.5 Competitive Rivalry Among Existing Competitors
5. Notable Blockchain Associations and their role in the Blockchain Environment
6. Case Studies of the Energy Blockchain
7. List of Licensed Cryptocurrencies Country-Wise
8. Global Blockchain Market in Energy Sector - Segmented by Application
8.1 Payments
8.2 Smart Contracts
8.3 Digital Identities
8.4 Governance, Risk, and Compliance Management
8.5 Others
9. Global Blockchain Market in Energy Sector - Segmented by Geography
9.1 North America
9.2 Europe
9.3 Asia-Pacific
9.4 Latin America
10. Competitive Landscape - Key Vendor Profiles
10.1 Amazon Web Services, Inc.
10.2 IBM Corporation
10.3 Microsoft Corporation
10.4 SAP SE
10.5 Ripple Labs Inc.
10.6 Capgemini SE
10.7 Chain, Inc.
10.8 Earthport PLC
10.9 Bitfury USA Inc.
10.10 BTL Group
10.11 Alphapoint Corporation
11. Emerging Players and Start-ups
11.1 Electron
11.2 ImpactPPA
11.3 LO3 Energy
11.4 Power Ledger
11.5 SolarCoin
11.6 Drift
11.7 Greeneum
*List not Exhaustive
12. Blockchain Market In The Energy Sector Investment Analysis
13. Future Outlook

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report