Blockchain in Power Market to cross $61.7 Bn by 2034, Says Global Market Insights inc.

Selbyville, Delaware, Feb. 05, 2025 (GLOBE NEWSWIRE) —

The blockchain in power market valuation is predicted to exceed USD 61.7 billion by 2034, reported in a research analysis by Global Market Insights Inc.

Blockchain technology is revolutionizing the energy sector by facilitating direct transactions between electricity producers and consumers, offering a secure, real-time system for managing data, and enhancing grid efficiency. By integrating renewable energy sources and optimizing electricity distribution, blockchain supports grid modernization and simplifies critical processes like billing and energy settlements through automated smart contracts, significantly reducing operational costs.

One of the main drivers behind blockchain adoption in the power industry is the growing demand for transparency. Blockchain enables secure recording of transactions, such as power generation and distribution, boosting accountability and reducing the risk of fraud. Additionally, the surge in peer-to-peer (P2P) energy trading is accelerating the shift toward decentralized energy markets. This shift helps reduce reliance on traditional intermediaries, cutting costs and increasing system efficiency. Blockchain technology also streamlines Power Purchase Agreements (PPAs), automating processes and minimizing disputes.

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The blockchain in power market is divided into key segments, including electric vehicle (EV) charging, grid transactions, energy financing, sustainability attribution, peer-to-peer transactions, and more. Among these, the peer-to-peer transactions segment is set to experience significant expansion, with projections indicating it could reach USD 21 billion by 2034. Blockchain enables direct energy trading between parties, cutting the dependence on traditional utilities, eliminating intermediaries, and simplifying billing processes—making energy transactions more transparent and cost-effective.

Blockchain in power market sector is also categorized into public and private segments. The public blockchain sector is poised to grow at an outstanding CAGR of 42% through 2034. Public blockchain networks promote transparency in energy transactions, offering key advantages for public-sector organizations that manage power resources. These networks ensure the secure tracking of renewable energy certifications, subsidy allocations, and energy trading data, improving accountability and minimizing risk.

The growing adoption of decentralized grids, including microgrids, is further propelling blockchain’s growth. Blockchain efficiently manages localized power generation, integrates renewable energy sources, and ensures seamless tracking of electricity flows and real-time billing, making it a critical component of modern energy systems.

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In the United States, the blockchain in power market is projected to reach USD 7.5 billion by 2034. Government initiatives and regulatory support for cutting-edge technologies are driving blockchain adoption as part of the larger effort to modernize the power sector. Additionally, the increasing need for robust cybersecurity measures to protect critical grid operations and energy transactions is accelerating the deployment of blockchain technology, providing a secure and future-proof solution for the industry.

Partial chapters of report table of contents (TOC):

Chapter 1   Methodology & Scope

1.1    Market definitions
1.2    Base estimates & calculations
1.3    Forecast calculation
1.4    Primary research & validation
1.4.1    Primary sources
1.4.2    Data mining sources
1.5    Market definitions

Chapter 2   Executive Summary

2.1    Industry synopsis, 2021 – 2034

Chapter 3   Blockchain in Power Market Insights

3.1    Industry ecosystem
3.2    Regulatory landscape
3.3    Industry impact forces
3.3.1    Growth drivers
3.3.2    Industry pitfalls & challenges
3.4    Growth potential analysis
3.5    Porter’s analysis
3.5.1    Bargaining power of suppliers
3.5.2    Bargaining power of buyers
3.5.3    Threat of new entrants
3.5.4    Threat of substitutes
3.6    PESTEL analysis

Browse Related Reports:

Blockchain Technology Market Size – By Component, By Technology, By Organization Size, By Application, By End Use, Growth Forecast, 2025 – 2034
https://www.gminsights.com/industry-analysis/blockchain-technology-market

Blockchain in Energy Market – By Category (Private, Public), By Application (Power, Oil & Gas) and Forecast, 2025 – 2034
https://www.gminsights.com/industry-analysis/blockchain-in-energy-market

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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