Press Release / Environment / Blockchain in Energy Industry Global Opportunities, Sales Revenue, Emerging Technologies, Competitive Landscape, by Forecast to 2023.
Blockchain in Energy Industry Global Opportunities, Sales Revenue, Emerging Technologies, Competitive Landscape, by Forecast to 2023.
By Market research Future on May 18 2018 | 435 Views
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.
The global Blockchain in energy industry market is expected to grow at ~ 29% CAGR during the forecast period.
Market Highlights
Global Blockchain in Energy Industry 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. Hence peer-2-peer energy trading is expected to witness the highest growth rate. While, the utilities by end-use sector is expected to dominate for the same reason as several million worth investment has been made by partnerships between utilities and Blockchain counterparts.
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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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 Application
Grid Management
Microgrids and smart grids
Energy storage
Others
Energy trading
Smart Contracts
Real time pricing
Peer-to-Peer trading
Control & Security
Instant demand response
Report to matching operators
Drilling optimization
Monitor Compliance
Market Research Analysis
The growth of global blockchain in energy industry is influenced by the benefits that Blockchain in Energy Industry 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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