Blockchain-Based EV Charging & Grid Integration Market Is Expected to Experience a 78% Compound Annual Growth Rate from 2020-2029
EV charging and integration use cases for blockchain technology benefit from clear technological objectives and a straightforward development roadmap
A new report from Guidehouse Insights provides forecasts for blockchain-enabled charging hardware deployment, electricity demand from blockchain-based platforms, and revenue from electric vehicle (EV) charging and integration applications through 2029.
More and more traditional energy stakeholders are experimenting with blockchain technology. Whether in house or in partnership with an industry consortium or energy blockchain startup, EV charging and integration use cases have emerged as technologically sound and feasible within the regulatory and technical constraints of the energy system. According to a new Guidehouse Insights report, the combined market for blockchain-based EV charging and grid integration is expected to exceed $1 billion by 2029 at a 77.9% compound annual growth rate (CAGR).
“The potential for blockchain technology as a positive force in EV charging and integration, and in mobility and transportation overall, should not be underestimated,” says Johnathon de Villier, research analyst with Guidehouse Insights. “Beyond contributing efficiencies to the information management layer of EV charging and integration solutions, blockchain technology can enable owners of EVs to take advantage of new revenue streams in the form of peer-to-peer charging applications and grid services.”
According to the report, EV charging and integration use cases for blockchain technology benefit from clear technological objectives and a straightforward development roadmap. This roadmap begins with one-way charging services and grows in complexity toward the full integration of EVs into the grid as distributed assets capable of responding to grid signals and providing auxiliary services such as frequency regulation and demand response.
The report, Market Data: Blockchain-Enabled EV Charging and Integration, provides forecasts for blockchain-enabled charging hardware deployment, electricity demand from blockchain-based platforms, and revenue from EV charging and integration applications between 2020 and 2029. Forecasts cover five global regions and three industry segments: home charging (including a separate subsegment for peer-to-peer charging), public charging, and fleet charging. It concludes with recommendations for actions that vendors and service providers can take to accelerate the development and deployment of blockchain-based EV solutions. An executive summary of the report is available for free download on the Guidehouse Insights website.
*The information contained in this press release concerning the report, Market Data: Blockchain-Enabled EV Charging and Integration, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.