Blockchain in Energy Market 2019 Global Forecast To 2023

Posted by Abhijeet Bendre on March 15th, 2019

Blockchain in Energy Market Research Report- Global Forecast to 2024. Global Blockchain in Energy Market by Technology Type, By Platform, By Implementation, By End-Use, By Region - Forecast Till 2023.

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Global Blockchain in Energy market key players studied are Power Ledger Pty Ltd, WePower UAB, LO3 Energy, Inc, Grid +, BTL Group Ltd., The Sun Exchange (Pty) Ltd, Conjoule GmbH, Enosi Foundation and Electron (Chaddenwych Services Limited).

Blockchain in Energy Market Insight:

The gradually growing demand for blockchain as a technology is expected to disrupt the core of the several industries where it may be implemented. The beginning of the concept of blockchain in energy originated as a niche product on the market peripheries but has captured the attention of several industry experts and leaders in recent times. The use of blockchain technology in the energy sector allows energy companies the chance to make substantial cost-saving and process efficiencies which is a significant advantage that is expected to be derived from the implementation of blockchain in energy. However, the preliminary potential of blockchain technology in the energy industry proves its potential to be that of a robust technology in its imminent energy industry applications.

MRFR’s market perspective on blockchain in energy includes a detailed observation on the historical market trends, current market scenario, and revenue forecast for the next five years, till 2023. The market sizing offered in the report has been validated by examining several elements. The market assessment based on technology type covers open blockchain, closed blockchain, consortium blockchain, and hybrid blockchain. By platform type, a market analysis has been made for ethereum, hyperledger, tendermint, interbit. Based on implementation type, key segments discussed in the report include service & solution, development platforms and industry specific. End-use industries considered for assessing the overall market revenue include power & utilities, renewable energy and oil & gas. On the basis of application, the scope of discussion covers grid management, energy trading, control & security, payment schemes, supply chain and logistics.

The overall reduction of transaction costs because of the elimination of the need to pay any third parties or intermediaries has increased the lucrativeness of the market considerably. The competitors in the blockchain in the energy market are limited currently because of the novelty of the product offering in the market and also the specialized degree of knowledge that is required to enter the market. The option of integrating smart meters in a blockchain, through which computers could automatically reconcile demand and supply in real time to balance the grid better will possibly spur more significant development in the market in terms of growth and revenue.

The research approach taken by Market Research Future tracks the current trends in the market efficaciously. The reports are astute in highlighting the cycle of disruption that companies are facing in the market and the degree of change they can bring out in the progress of the market. The research process is a collaborative process at our end, which ensure a credible and objective market outlook. The reports consist of data and information that is conducive to fast decision-making and reflects the actual condition of the market. The reports also focus aptly on the next significant trends that can transform the competitive landscape of the market. The growth opportunities of any market are discovered by the constructive use of primary and secondary research. Additionally, the use of top-up and bottom-down approaches enhances the report’s credibility to a great extent.

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Abhijeet Bendre

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Abhijeet Bendre
Joined: February 20th, 2018
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