Blockchain in Energy Market Expected To Grow At The CAGR Of 29% By 2023.

Blockchain in energy market Research Report- Forecast to 2023

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Blockchain in energy market Research Report- Forecast to 2023

1 Summary: 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. For example, blockchain technology offers power companies easier and more accurate way of streamlining the way the power industry operates. Pilot studies and small-scale implementation are increasingly focused around the peer-to-peer energy trading with special focus on microgrids and solar systems. The major hurdle for the blockchain implementation in energy sector is expected to be the uncertainty in regulatory policies and their integration with the existing systems of operation.

Key Players: The key players of global blockchain in energy Industry 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 ÂŠ 2018 Market Research Future.

Blockchain in energy market Research Report- Forecast to 2023 Blockchain in energy industry aims at multi-locational data structures, which will inherently provide robustness and flexibility to the operations. The technology has a very unique benefit wherein it can be shared across multiple organizations but not dominated by anyone. Data security is also guaranteed as the enlisted transactions cannot be erased, which will result in increased integrity of operations. This will ultimately result in more direct relationship between the energy suppliers and their clients. The industry is expected to witness several major benefits in coming years using the blockchain technology. With continuous experimentation and implementation of blockchain technology in energy industry in Australia, U.S and in Europe, and major firms are actively looking into it, the market is expected to witness a significant growth during the forecast period.

Scope of the Report This report provides an in-depth analysis of the global blockchain in energy industry market, tracking five market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the blockchain in energy industry market by its technology type, Platform Type, Implementation type, end-use industry type, application and by region.              

By Technology Type Open Blockchain Closed Blockchain Consortium Blockchain Hybrid Blockchain By Platform Type Ethereum Hyper ledger Tendermint Interbit Others By Implementation Type As Service and Solution Development Platforms

Market Research Analysis: -

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Blockchain in energy market Research Report- Forecast to 2023 The global blockchain in energy industry is segmented based on technology type, platform type, implementation type, end-use industries, and by applications across the different regions of the world. With the ability to monitor and facilitate decentralized applications, blockchain implementation in energy industry is expected to create new business models, such as peer-to-peer energy trading facilities. With this, customers can choose whom they want to share the energy generated by them and it can be done without any third party or consortiums intervention. This is highly beneficial, especially in regions and places where there is more distributed energy sources such as solar power generation and small-scale wind. Hence peer-to-peer application is expected to show rapid growth rate. Besides, in the energy sector, the power and utilities operations is witnessing a number of blockchain based projects as more and more utilities and blockchain players are teaming with investment collaboration to check and expand the potential of this technology. On the other hand, major oil and gas companies, such as BO, Shell, and Statoil are all joining forces to create a common blockchain based platform for oil and gas operations. Blockchain in energy industry has huge potential as it can considerably remove the intermediary processes along with faster and secure implementation of operations.

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Blockchain in energy market Research Report- Forecast to 2023

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