Global Blockchain in Energy Market is valued USD 156.5 million in 2016 is anticipated to grow USD 34698 million with the compounded annual growth of 82.24% over the forecast period 2018-2025.
New York 14 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Blockchain in Energy market industry is poised to raise USD 34698 million by 2025. Blockchain technology in energy sector possess various superior characters like complete security and transparency of different transactions. Information is safe and difficult to tamper, it is stored permanently, this feature are the major factors driving the growth of Global Blockchain in Energy Market. However, Shortage regulatory standards, indeterminate regulatory landscape, and authenticity concern of users are the restraints to the market. Blockchain technology reduces operating costs, capital expenditure, provides better risk management and security, it aids flexibility and capability to follow changes of the energy industry. Blockchain refers to a decentralized ledger technology. In the energy sector, it will facilitate people to trade energy among each other. The unused energy is sold to neighbouring buildings. While all the buildings are still connected to the grid, transactions are managed and stored on a Blockchain. The Blockchain have many uses such as facilitating a peer-to-peer energy trading model, propagation of Distributed Energy Grids (DERs) and other independent renewable energy sources like solar panels, development of cryptocurrencies, Smart utility metering system, Decentralized energy data platform, Supply chain and logistics optimization, Asset Tracking, Bill of Lading, Transfer of Title.
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Global Blockchain in Energy Market Size study, by Type (Private, Public), by Component (Platform, Services), by End-Use (Power Sector, Oil & Gas Sector), by Application, by Technology Type and by Regional Forecasts 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market players include Power Ledger Pty Ltd, WePower UAB, LO3 Energy, Inc., Grid +, BTL Group Ltd., The Sun Exchange (Pty) Ltd., Conjoule GmbH, Enosi Foundation, Electron (Chaddenwych Services Limited)., Accenture, AWS, Bigchaindb, Deloitte, IBM, Infosys, Microsoft, Nodalblock, Oracle, SAP, Enosi, Electron, Drift and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The North American region accounted for the significant market share, more than XX% of the total market in 2016.
- The Asia Pacific region will be the highest growing segment with respect to geographical segmentation, the region is likely to grow by XX% CAGR over the forecast period 2018-2025
Bizwit Research & Consulting LLP has considered following segments for the study:
- Power Sector
- Oil & Gas Sector
- Grid Management
- Energy Trading
- Government Risk and Compliance Management
- Payment Schemes
- Supply Chain Management
By Technology Type:
- Open Blockchain
- Closed Blockchain
- Consortium Blockchain
- Hybrid Blockchain
- North America
- Asia Pacific
- Latin America
- Rest of the World