(I-BusinessNews.Com, October 15, 2018 ) The global Blockchain technology in the energy sector market generated USD 230 million in 2017 and is anticipated to grow at a CAGR of 52.9% during the forecast period according to a new study published by Polaris Market Research.
Blockchain technology offers a peer-to-peer energy trading model. It enables producers with energy-producing sources such as solar panels to trade their unused energy back to the grid. Several startups and utilities are developing pilots to explore the possibilities and opportunities offered by blockchain technology. For instance, Brooklyn Microgrid is developing an app to enable energy trading between consumers in a neighbourhood within the borough.
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The demand for Blockchain technology in the energy sector market has increased owing to rising need for faster and safer transactions. The increasing adoption of Blockchain-As-A-Service, growing trend of smart payments and contracts, and rising acceptance of cryptocurrency supports the growth of the market. The reduced total cost of ownership, increased mobile broadband speeds, and reduced costs of bandwidth and computing has increased the adoption of Blockchain technology in the energy sector.
The Blockchain Technology In The Energy Sector Market report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Blockchain Technology In The Energy Sector, 2017-2026.
This report comprises a detailed geographic distribution of the Blockchain Technology. The Market is segmented across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
The Asia-Pacific Blockchain Technology In The Energy Sector Market generated the highest revenue in 2017 owing to increasing need for secure transactions, increased mobile broadband speeds, and reduced costs of bandwidth and computing in this region. The increasing trend of cryptocurrency, and established energy sector boost the growth of Blockchain technology in the region.
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Competitive Landscape and Key Vendors
The global Blockchain technology in the energy sector market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies profiled in the Blockchain Technology In The Energy Sector Market report include Accenture, Oracle Corporation, Microsoft Corporation, Deloitte, IBM Corporation, Grid+, Nodalblock, SAP SE, Power Ledger Pty Ltd, and Amazon Web Services, Inc.
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Key Segments
Application
• Energy Trading
• Grid Management
• Supply Chain Management
• Payment Schemes
• Others
Type
• Public
• Private
End-User
• Oil and Gas
• Power
• Others
Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Latin America
o Brazil
o Rest of Latin America
Middle East and Africa.
About Polaris Market Research
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.
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Polaris Market Research
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com
Polaris Market Research
Neel
+1-646-568-9980
neel@polarismarketresearch.com
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