The use of renewable energy sources is one of the most promising options for slowing down climate change and the variability of resources would benefit the energy systems even further. Research provides an initial assessment of the Baltic Sea region concerning the possibility of using wave energy as a supplement to the current renewables in this region. During the study, the main parameters of the environment were examined (waves, salinity, tides, and the effect of ice). In addition to the technical and economic feasibility assessment (from a supplier perspective), marketability research was conducted among sector stakeholders through a survey. The majority of the respondents among maritime and energy sector stakeholders showed interest in applying wave energy in less than a 10-year perspective, particularly in the specific areas of their industries, such as seaports. This research is important as it demonstrates the limitations of the Baltic Sea environment, effects of regional economic activity, and local and EU level political, legal, and administrative burdens in applying wave energy within the studied region. Based on this study, policies and legislative frameworks need to be adapted (e.g., environmental protection areas and open access data of sea) to facilitate change.