Market research Future Blockchain in Energy Industry Expect CAGR 29%. | Page 3

Blockchain in energy industry Research Report- Forecast to 2023
2 Market Overview
Global Blockchain in Energy Industry market has been segmented based on technology type, platform
type, Implementation type, by end-use industries, by application and by region. With increasing number of
decentralized energy generation services such as solar PV’s and small-scale wind energy, blockchain
technology facilitates the trading of energy through the platform. Especially, peer-to-peer trading in
applications is expected to dominate the industry as several startups and utilities are currently investing in
this space. This is followed by the smart contracts generation application which are expected to be
instantaneous using blockchain technology. The global utilities, blockchain companies and small-time
power providers are increasingly looking to exploit these explicit benefits blockchain provides in this
particular segment. For instance, energy producers through renewable energy sources can sell excess
energy within their community to the peers of their choice through blockchain. Hence peer-2-peer energy
trading is expected to witness the highest growth rate. While, the utilities by end-use sector is expected to
dominate for the same reason as several million worth investment has been made by partnerships between
utilities and Blockchain counterparts.
Drivers
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