Exploring Blockchain in Energy Trading Market Opportunity, Latest Trends, Demand, and Development By 2028
MarkNtel Advisors recently published a detailed industry analysis of the Blockchain in Energy Trading Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Blockchain in Energy Trading Market (2023-2028)
The Global Blockchain in Energy Trading Market is estimated to grow at a CAGR of around 25.55% during the forecast period, i.e., 2023-28.
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What is driving the Blockchain in Energy Trading market?
Rapid Growth of Renewable Energy Sources to Escalate the Market – The surging growth of renewable sources across the globe is accelerating the Energy Trading Market. Renewable energy sources, such as solar & wind power, are becoming more affordable & reliable owing to increasing government policies & incentives, technological advancement, financial investment from private & institutional investors, etc. According to the IRENA, in 2022, costs for renewables continued to fall in 2021, electricity from wind fell by around 15%, offshore wind by about 13%, and solar photovoltaics (PV) by 13% compared to 2020. As solar & wind become more prevalent, households & businesses are increasingly becoming prosumers, generating their electricity & sometimes producing excess energy that could be shared with others.
Consequently, blockchain technology could facilitate this energy exchange through decentralized & transparent peer-to-peer (P2P) transactions, creating Local Energy Markets. By enabling real-time matching of energy supply & demand blockchain, energy trading optimizes grid stability & fosters a more resilient & decentralized energy ecosystem.
Smart contracts on the blockchain ensure fair compensation for prosumers & streamline energy transactions without intermediaries. As renewable energy continues to grow, the blockchain energy trading market is poised to expand, bringing about a more sustainable & efficient energy future.
What segments define the Blockchain in Energy Trading market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
By Type
(Public, Private),
By Application
(Peer to Peer Energy Trading, Regulation and Compliance Management, Commodity Trading, Electricity Data Management, Grid Management),
By End User
(Power Utilities, Oil and Gas, Residential Communities, Commercial & Industrial),
By Region
(North America, South America, Europe, The Middle East & Africa, Asia Pacific)
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Who are the leading key players shaping the Blockchain in Energy Trading Market landscape?
Power Ledger, SunContract, Wepower, Restart Energy, Electron, Mission Innovation, Blockchain Tech LTD, Enosi, Grid Singularity, LO3 Energy, Others
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Questions Addressed in this Study
1.What factors are driving the Blockchain in Energy Trading Market growth?
2.How is the Blockchain in Energy Trading Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Blockchain in Energy Trading Market?
4.What is the current size of the Blockchain in Energy Trading Market, and how is it projected to change in the future?
6.What is the future outlook for the Blockchain in Energy Trading Market in terms of technological advancements and market expansion?
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