Guidehouse Insights: blockchain-based EV charging & grid integration market to show 78% CAGR from 2020-2029
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.
Traditional energy stakeholders increasingly 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 the new 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. 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.—Johnathon de Villier, research analyst with Guidehouse Insights
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.