The Blockchain Technology In The Energy Sector Market is anticipated to reach over USD 10,287 million by 2026. In 2017, the private segment dominated the global market, in terms of revenue. Asia-Pacific was the leading contributor to the global market revenue in 2017.
The growing adoption of Blockchain-As-A-Service, and increasing market for alternative cryptocurrencies has boosted the adoption of Blockchain technology in the energy sector. Merchants are increasingly accepting cryptocurrencies owing to high transaction speeds and immutability. The rising penetration of mobile devices, increased mobile broadband speeds, and reduced costs of bandwidth further support the growth of the global blockchain technology in the energy sector market is segmented on the basis of type, application, end-user, and region.
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Blockchain is a decentralized ledger technology, which enables consumers to trade and distribute energy among them. Blockchain technology tokenizes renewable energy, and enables wind, solar and hydro energy producers to connect with consumers or investors, and buy and sell renewable energy for a certain price. It enables producers with energy-producing sources such as solar panels to trade their unused energy to their community. Use of blockchain technology would result in more renewable energy projects while reducing carbon-emitting electricity generation. Use of blockchain technology in the energy sector offers cheaper and clean energy as compared to buying electricity from the grid. The blockchain ledger is used to reduce transaction costs, and increase the efficiency of exchanges. Use of blockchain in the energy industry has also developed cryptocurrencies for monetary payments. For instance, Marubeni Corporation accepts cryptocurrency payments in some regions of Japan. Bankymoon, a South Africa-based blockchain startup, has collaborated with Usizo for cryptocurrency monetary payments for bitcoin-compatible smart meters located in remote areas.
On the basis of type, the market is segmented into Public, and Private. The application segment is bifurcated into Energy Trading, Grid Management, Supply Chain Management, Payment Schemes, and others. The end-user segment is divided into Oil and Gas, Power, and others.
Increasing investments by vendors in technological advancements coupled with advancements in broadband technology would accelerate the growth of the Blockchain technology in the energy sector market during the forecast period. Growing demand from emerging economies, and technological advancements are expected to provide numerous growth opportunities in the coming years.
Asia-Pacific Blockchain Technology in the Energy Sector Market generated the highest revenue in 2017. The rising security concerns, and high transaction speeds and immutability offered by blockchain technology support the growth of the market. The increased mobile broadband speeds, and reduced costs of bandwidth and computing boost the market growth in the region. The growing adoption of Blockchain-As-A-Service, increasing trend of smart payments and contracts, and technological advancements are expected to offer growth opportunities during the forecast period.
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. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Table of Contents
Overview and Scope
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Key take-away
2. Executive Summary
2.1. Market Definition
2.2. Market Segmentation
3. Blockchain Technology In The Energy Sector Insights
3.1. Blockchain technology in the energy sector – Industry snapshot
3.2. Blockchain technology in the energy sector – Ecosystem analysis
3.3. Blockchain technology in the energy sector Market Dynamics
3.3.1. Blockchain technology in the energy sector – Market Forces
126.96.36.199. Blockchain technology in the energy sector Market Driver Analysis
188.8.131.52. Blockchain technology in the energy sector Market Restraint/Challenges analysis
184.108.40.206. Blockchain technology in the energy sector Market Opportunity Analysis
3.4. Industry analysis – Porter’s five force
3.4.1. Bargaining power of supplier
3.4.2. Bargaining power of buyer
3.4.3. Threat of substitute
3.4.4. Threat of new entrant
3.4.5. Degree of competition
3.5. Blockchain technology in the energy sector Market PEST Analysis, 2016
3.6. Blockchain technology in the energy sector Market Value Chain Analysis
3.7. Blockchain technology in the energy sector Industry Trends
3.8. Competitive Ranking Analysis
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