Blockchain in Energy Market Size Worth USD 81,205.98 Million in 2032 | Emergen Research

Vancouver, Nov. 16, 2023 (GLOBE NEWSWIRE) -- The global Blockchain in Energy Market is forecasted to be worth USD 81,205.98 Million by 2032, according to a current analysis by Emergen Research. The global market for blockchain in energy is forecasted to grow significantly due to the rising electric vehicle influx voltage loads. The growing demand for distributed power generation is anticipated to further stimulate market growth over the forecast timeline. Moreover, the increasing adoption of internet-based business operations is also forecasted to boost market growth shortly.

However, Over the forecast timeframe, the lack of a common set of legal standards is expected to impede the market growth.

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Major Companies and Competitive Landscape

The market for Blockchain in Energy is fragmented, with a significant number of large and medium-sized players, which account for a significant global share of the market. The key players of the market are well-equipped with significant manufacturing resources and are also engaged in various research and development activities. Some of the top players in the Blockchain in Energy market comprise:

• • Infosys Limited
  • SAP SE
  • Oracle Corporation
  • Accenture plc
  • WePower UAB
  • IBM Corporation
  • Microsoft Corporation
  • Deloitte Touche Tohmatsu Limited
  • LO3 Energy, Inc.
  • BigchainDB GmbH

Strategic Development

In November 2020, emarsys eMarketing Systems was acquired by SAP SE. SAP Consumer Service will provide a framework for customized omnichannel interaction with the capabilities of its existing technologies and the convergence of Emarsys, reaching consumers where and when they want to connect, on their chosen platforms, and on their conditions.

In October 2020, Blue Acorn iCi was acquired by Infosys Limited. This deal will significantly enhance the end-to-end solutions of Infosys' customer experience and confirm its continuing focus on helping consumers explore their digitalization journey. Blue Acorn iCi will add essential cross-technology expertise to Infosys by integrating consumer engagement, digital trading, analysis, and experience-driven commodity trading.

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Some Key Highlights from the Report

• In June 2020, Cyber X, Inc. was acquired by Microsoft Corporation. Microsoft will offer a simplified solution to centralized security governance for information technology and institutional platforms and end-to-end security across controlled and unmanaged IoT devices by incorporating the CyberX.
• In the forecast timelines, the private segment is expected to expand steadily with a CAGR of 56.0%. Higher safety and acceleration, with better control for optimum efficiency, are the main factors driving the segmental growth.
• The service segment will dominate over the forecasted timeframe. Blockchain services can provide customers with better reliability and energy management. Furthermore, an authenticated server integrates data on energy usage with reliable, real-time updates.
• The segment of Grid Transactions is expected to rise substantially. The primary factors for market growth are increased demand for electricity, improvements in the regulation of cheap energy supply, and smart grid technology adoption.
• During the forecasted period, the oil & gas segment is expected to grow swiftly. Since the oil and gas sector utilizes most sensor technologies, blockchain can keep transactions and financial reports on such sensors directly.

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Emergen Research has segmented the global Blockchain in Energy market based on type, component, application, end-use, and region:

• Type Outlook (Revenue, USD Million; 2019-2032)
  • Public
  • Private
• Component Outlook (Revenue, USD Million; 2019-2032)
  • Services
  • Platform
• Application Outlook (Revenue, USD Million; 2019-2032)
  • Peer-To-Peer Transaction
  • Grid Transactions
  • Energy Financing
  • Electric Vehicle
  • Sustainability Attribution
  • Others
• End-Use Outlook (Revenue, USD Million; 2019-2032)
  • Oil & Gas
  • Power
• Regional Outlook (Revenue, USD Million; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. UK
    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
  • MEA
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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