Blockchain in Energy Market Expecting Revolutionary Growth of 29% CAGR| Forecast to 2023

Blockchain in Energy Market Research Report- Forecast to 2023

Blockchain in Energy Market Expecting Revolutionary

Growth of 29% CAGR| Forecast to 2023

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Copyright Š 2018 Market Research Future.

Blockchain in Energy Market Research Report- Forecast to 2023

1 Summary The use of Blockchain in energy market is expected to be one of the biggest uncertainties the energy industry has faced since the beginning of digitization in the energy and power sector. This technology with unlimited possibilities and potential security over existing operational methods gives it an advantage. With increasing start-ups and energy major collaboration and investment in the blockchain technology, the market is expected to witness a significant growth during the coming years. This increased collaboration has the potential to completely transform the energy industry.

Key Players: The key players of global Blockchain in energy market market are Power Ledger (Australia), Conjoule (Germany), Grid+ (U.S), Grid Singularity (Germany), Impact PPA (U.S), Exergy (LO3 energy) (U.S), The Sun Exchange (Pty) Ltd (South Africa), WePower UAB (Republic of Lithuania), and BTL Group Ltd.(Canada). Global blockchain (Canada), Electron (Chaddenwych Services Limited) (U.K), PONTON GmbH (Germany), Stedin Group (Netherlands), OURSOLARGRID (ITP Innovative Technology Projects GmbH) (Germany), and Omega Grid (U.S) are among others.

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Copyright Š 2018 Market Research Future.

Blockchain in Energy Market Research Report- Forecast to 2023

2 Market Overview Global Blockchain in energy market market has been segmented based on technology type, platform type, Implementation type, by end-use industries, by application and by region. With increasing number of decentralized energy generation services such as solar PV’s and small-scale wind energy, blockchain technology facilitates the trading of energy through the platform. Especially, peer-to-peer trading in applications is expected to dominate the industry as several startups and utilities are currently investing in this space. This is followed by the smart contracts generation application which are expected to be instantaneous using blockchain technology. The global utilities, blockchain companies and small-time power providers are increasingly looking to exploit these explicit benefits blockchain provides in this particular segment. For instance, energy producers through renewable energy sources can sell excess energy within their community to the peers of their choice through blockchain.

Segments

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Copyright Š 2018 Market Research Future.

Blockchain in Energy Market Research Report- Forecast to 2023

3 Market Research Analysis The growth of global Blockchain in energy market is influenced by the benefits that Blockchain in energy market offers through decentralization of operations. Energy business is no longer required to depend on a central intermediary for operations. Once deployed, blockchain will facilitate rapid scalability and expansion of a number of participants and users with instantaneous completion of transactions. Overall, it is expected that the implementation of blockchain would drastically reduce the costs compared to the existing systems of operation in the energy industry. However, lack of clear regulatory protocols and limited suppliers and expertise and skills required to implement the technology can hinder the growth of the market.

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Copyright Š 2018 Market Research Future.

Blockchain in Energy Market Research Report- Forecast to 2023

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Copyright Š 2018 Market Research Future.