A new report from Guidehouse Insights provides forecasts for blockchain-enabled charging hardware deployment, electricity demand from blockchain-based platforms, and revenue from EV charging and integration applications through 2029. According to the 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).
Guidehouse Insights Research Analyst Johnathon de Villier said, “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.”
The report’s 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.