Blockchain in Energy Market, predicted to grow at more than 29% by 2023 :
Pune, India, May, 2018 /MRFR Press Release/- The Blockchain in Energy Industry market is expected to grow at ~ 29% CAGR during the period 2018 to 2023.
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The use of blockchain in energy industry is expected to be one of the biggest uncertainties the energy industry has faced since the beginning of digitization in the energy and power sector. This technology with unlimited possibilities and potential security over existing operational methods gives it an advantage.
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.
Market Research Analysis
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.
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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 Technology Type
- Open Blockchain
- Closed Blockchain
- Consortium Blockchain
- Hybrid Blockchain
- By Platform Type
- Hyper ledger
- By Implementation Type
- As Service and Solution
- Development Platforms
- Industry Specific
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