Vancouver, BC -- (SBWIRE) -- 12/28/2020 -- Blockchain has gained a massive interest across the energy sector with numerous large organizations investing in blockchain as it confers enhanced efficiency and control over the firms' energy sources. Blockchain in energy production assists in the operations of power grids and reduces capital expenditure, which is anticipated to propel the adoption of blockchain in the energy market. According to the recent analysis by Emergen Research, the global Blockchain in Energy Market is predicted to gain a market valuation of USD 8,761.4 Million by 2027, expanding at a growth rate of 56.1%.

Blockchain in Energy Market Drivers

The escalating adoption of blockchain in the energy sector is driven by the increasing safety concerns regarding the automated grids and the efficiency of blockchain to augment the operations of the power grids while simultaneously reducing capital expenditures. Moreover, the global adoption of smart control and management systems to extend the Renewable Energy Sources' development, coupled with rising government initiatives, is adding to market growth. The increasing presence of electric vehicle influx voltage is further anticipated to fuel market growth. The COVID-19 pandemic has accelerated the innovative ways to operate, transform, and digitize the workflow efficiently. The adoption of blockchain technology to simplify the workflow is also a potential market driver.

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Key participants include: Infosys Limited, SAP SE, Oracle Corporation, Accenture plc, WePower UAB, IBM Corporation, Microsoft Corporation, Deloitte Touche Tohmatsu Limited, LO3 Energy, Inc., and BigchainDB GmbH, among others.

The rising adoption of blockchain in the energy industry and growing safety concerns related to automated grids are driving the demand for the market.

We provide detailed product mapping and investigation of various market scenarios. Our expert analysts provide a thorough analysis and breakdown of the market presence of key market leaders. We strive to stay updated with the recent developments and follow the latest company news related to the industry players operating in the global Blockchain in Energy market. This helps us to comprehensively analyze the individual standing of the companies as well as the competitive landscape. Our vendor landscape analysis offers a complete study to help you gain the upper hand in the competition.

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

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Regional Outlook (Revenue, USD Million, 2016 – 2030)

North America
The U.S.
Canada
Europe
The U.K.
Germany
France
Asia Pacific
China
Japan
India
Latin America
Brazil
Mexico
Middle East & Africa

Regional Analysis

The European region is forecast to contribute to a sizeable share of the industry attributable to the numerous project executions and the emergence of start-ups. The rising complexity of power systems and shifting preference to smart grids is further anticipated to boost regional growth. Rising investment from private companies and governments' incentives to encourage the adoption of renewable power generation is fueling the industry's growth.
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