“According to the research report published by Polaris Market Research, the Global Blockchain Technology In The Energy Sector Market Is Anticipated To Reach Over USD 10,287 Million By 2026, at a CAGR of 52.9% during the forecast period.s”.
General Outlook:
For the last few years, “Blockchain Technology in the Energy Sector Market Share, Size, Trends, Industry Analysis Report By Type (Public, Private); By Application (Energy Trading, Grid Management, Supply Chain Management, Payment Schemes, Others); By End-User (Oil and Gas, Power, Others); By Regions, Segments & Forecast, 2018 - 2026” has been one of the most mentioned terms, not only in the world of IT, but also in finance (FinTech) and banking, where it has been most disruptive, as it is what makes it possible for cryptocurrencies such as Bitcoin, Ethereum, and several others to exist and be usable. Blockchain Technology In The Energy Sector Market is becoming a major concern, as nowadays more electricity than ever is used, not only in the manufacturing and services sectors. Most households nowadays require a considerable amount of electricity to properly live, which creates concerns for the environment and for the economy.
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Top Global Market Players:
- Accenture
- Oracle Corporation
- Microsoft Corporation
- Deloitte
- IBM Corportaion
- Grid+
- NOdalblock
- SAP SE
- Power Ledger Pty. Ltd. and Amazon Web Services Inc.
The Potential for Blockchain in the Energy Sector:
In the energy sector, with the growing adoption and enthusiasm in regard to renewable sources of energy, and more and more individuals generating some or all of their electricity needs on their own, a new term is being coined: Prosumers, that is, consumers, but also providers. Of course, the possibility of generating our own energy, and the interest of many to consume more renewable energy increases the interest for these new prosumers to find appropriate ways of selling their energy in a secure and transparent way. Blockchain Technology In The Energy Sector Market is a clear solution, as it is made with peer-to-peer transactions in mind which is the kind of transactions that would facilitate these new prosumers to profit from their exceeding generated energy.
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Segment Analysis:
Asia Pacific generated highest revenue in market in 2017. The rising security concerns with online transactions with high transaction speeds and immutability offered by blockchain technology boosts the growth of the market. Astronomical mobile broadband speeds and reduced costs of bandwidth and computing power boost the market growth in the region. The rising adoption of Blockchain-as-a -service, increasing trend of smart payments and contracts, and advances in technology are expected to offer growth during forecast period.
Regional Scope:
The regional sector is included to demonstrate its current and future growth synopsis. This helps players to build up their position. The regional and country-level assessment incorporates the demand and supply forces that are influencing the growth of the global Blockchain Technology In The Energy Sector Market. Moreover, the section examines segments with sales percentage and income through the usage of key international locations in those several regions. This analysis will assist readers in comprehending the attributes and growing capacity of numerous geographical markets.
Moreover, the report also talks about the key application areas of the global Blockchain Technology In The Energy Sector Market, providing an accurate description of the market to the readers/users. It also incorporates the SWOT analysis of the market.
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FAQs About Blockchain Technology In The Energy Sector Market
- How much will the blockchain in energy industry share grow during the forecast timeline?
- What are the major factors driving the growth of the blockchain in energy market?
- Will Blockchain Technology In The Energy Sector Market hold its sway as a product category of the market in the next few years?
- What are some of the game-changing strategies likely to be adopted by players that will considerably change the course of the market?
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