Blockchain in Energy Market Analysis

Blockchain in Energy Market Analysis

Based on category the blockchain in energy industry is segmented into public and private. Private is projected to grow by more than USD 54.4 Billion by 2034 due to the need for higher security, increased speed, and enhanced control. Rising demand for technology offering enhanced security by restricting access to only authorized participants and providing greater control over sensitive data will propel product adoption in the private category. Improving shift towards transparent solutions that ensure the record of every transaction, particularly important in energy markets where compliance with regulatory requirements and sustainability goals is mandatory leading to create lucrative opportunities for the product growth.
 

Based on application, the blockchain in energy market is segmented into power and oil & gas. Power is set to grow at a CAGR of over 43% till 2034 on account of lower transaction cost in line with improved network transparency. Improving need for peer-to-peer (P2P) energy trading platforms, that allow consumers and producers to trade energy directly without intermediaries to lower transaction costs, and provide greater energy access, especially in remote or underserved areas will uplift product adoption. Additionally, rising digitalization of the power sector will propel product demand to ensure the security of sensitive information, such as grid operations and energy market data.
 

U.S. blockchain in energy market is anticipated to grow over USD 13 Billion by 2034. Growing adoption of distributed energy resources (DERs), such as solar, wind, and battery storage, will foster blockchain demand to get a secure, decentralized platform for managing these assets. Increasing renewable energy adoption in California and New York will uplift product penetration to reduce transaction costs and facilitate direct energy exchanges, benefiting both consumers and prosumers.
 

In Asia Pacific, rapid growth in renewable energy sources such as solar, wind, and hydroelectric power particularly in countries such as China, India, and Japan will improve blockchain adoption to help manage these distributed and variable energy sources by providing a secure, transparent, and efficient platform for their integration into the grid. Presence of regions with limited access to reliable energy will complement product demand to manage microgrids and decentralized energy systems.