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Blockchain in Power Market Trends

Report ID: GMI12496
Published Date: Dec 2024
Report Format: PDF

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Blockchain in Power Market Trends

Rising risk of fraud such as energy theft or tampering with records in line increasing need for transparency in the power sector will fuel the technology adoption to securely record all transactions in a decentralized ledger. Additionally, increasing technology advancements such as automation of billing processes to minimize errors and accelerate the payment cycle, benefiting utilities and consumers alike will complement the industry growth.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of blockchain in the power reached USD 2.1 Billion in 2024 and is estimated to grow at a 41.5% CAGR from 2025 to 2034, driven by the demand for peer-to-peer (P2P) energy trading.

The public segment is set to expand at a CAGR of over 42% through 2034, propelled by the increasing demand for transparency in energy transactions.

The U.S. market is anticipated to cross USD 7.5 Billion by 2034, led by government and regulatory promotions of innovative technologies to modernize the power sector.

The key players in the industry include ACCIONA, ConsenSys, Electron, Greeneum, IBM, Infosys Limited, LO3 Energy, Power Ledger, SAP, and SunContract.