Global Blockchain in Energy Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Blockchain in Energy Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global blockchain in energy market report has been segmented on the basis of component, end user, application, and region.
Global Blockchain in Energy Market: Overview
Block chain is a record-keeping technology where information or data is stored just as a chain of blocks. Blocks that stores information is primarily about transactions, information related to transactions participants are stored, as well as information that distinguishes blocks among each other is also stored. It is widely used in energy sector for administration purposes.
Global Blockchain in Energy Market: Dynamics
Increasing penetration of IoT devices such as smart appliances and increasing voltage loads from influx of electric vehicles in various countries across the globe are among major factors expected to drive growth of the globe market during the forecast period. Furthermore, growing demand and awareness regarding blockchain in power generation sector, which helps in operations of power grids efficiently, with lower transaction costs is another key factor fueling growth of the global blockchain in energy market in the near future.
Increasing adoption of blockchain and IoT technologies in energy sector, increasing infrastructure and other business operations through Internet which require high transaction speed, and rising security concerns associated with automated electricity grid across the globe are other factors supporting growth of target market. Aforementioned factors are expected to boost growth of the global blockchain in energy market, owing to various benefits offered by blockchain technology which allows various distributed power generation grid operators to optimize their grid distribution operations through automated smart contracts which enables flexibility and real-time pricing of electricity consumption.
However, uncertain regulatory landscape associated with grid generations and growing concerns regarding authenticity of users among power distribution operators are major factors expected to restraint growth of the global blockchain in energy market to a certain extent.
Furthermore, lack of professional technicians and awareness regarding blockchain technology and opposition from occupants in various countries across the globe are some key factors expected to hinder growth of the potential market in the coming 10 years.
Global Blockchain in Energy Market: Segment Analysis
On the basis of component, service segment is estimated to register major share in term of revenue in the global blockchain in energy market. The service segment revenue is anticipated to register largest CAGR over the forecast period.
The power segment in the end user segmentations is expected to register high growth in the global blockchain in energy market. This is primarily attributed due to ability of blockchain technology to manage distributed energy resources as well as it provides overall power consumption outlook by recording.
Global Blockchain in Energy Market: Regional Analysis
Moreover, the market in North American is expected to register significant growth followed by market in Asia Pacific. Whereas, market in the Latin America and Middle East & Africa is expected to register lucrative growth in the global market, owing to due to rising awareness and increasing adoption of blockchain technologies to safeguard their electricity grids in these regions.
Global Blockchain in Energy Market Segmentation:
Segmentation by Component:
Segmentation by End User:
- Oil & Gas
Segmentation by Application:
- Energy Trading
- Payment Schemes
- Grid Management
- Supply Chain Management
- Government Risk and Compliance Management
- Others (Distributed Energy Resources, Smart Charging, Energy Commodity Trading)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- SAP SE
- Deloitte LLP
- Accenture plc
- Infosys Limited
- BigchainDB GmbH
- Oracle corporation
- Power Ledger Pty Ltd
- Microsoft Corporation
- Amazon Web Services, Inc.
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