Market Research Future published a research report on “Global Blockchain in Energy Market – Forecast Till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2023.
Market Research Future said a surge in the digitization of systems in prime regions has helped global Blockchain in Energy market is pushing net profit from USD 180.3 Mn in 2017 to more than USD 5,000 Mn by 2023 with the higher growth rate. The entire study has been conducted amidst Coronavirus that has shut down the world economy. Like other industries, the global Blockchain in Energy market has also been impacted due to deadly virus outspread. Yet, with some prevalent factors, the market is foreseeing a fruitful future, which is calculated to be from 2016-2023.
Blockchain in Energy Growth & Drivers
Positive outlook toward digitization of systems with the rising fixing of smart meters in regions is set to encourage the Blockchain in Energy Market. Decentralized energy systems, besides widespread adoption of smart management & control systems to execute advanced communication are also probable to complement the industry outlook in the future.
MRFR also finds that rapid development in the Renewable Energy Sources (RES) owing to the privatization of the energy sector together with government initiatives for electricity conservation is actively augmenting the product installation at a faster rate. In the case of point, in the year 2018, RES contributed 40% of the total electricity production in Germany that boosted the Blockchain in Energy market to a great extent.
To add further, the increasing focus toward energy utilities in exploring hidden benefits of the technology for low-carbon transition and sustainability is also reported to stimulate the Blockchain in Energy market. Reducing dependency on fossil fuels coupled with rising independence of local grid from outside energy sources in the long term, is probable to motivate the industry scenario. In fact, stupendous investment in numerous innovative projects ranging from solar systems for electric vehicles charging & e-mobility has been outstandingly boosting the adoption of Blockchain in Energy market.
COVID-19 Impact on Blockchain in Energy Market @ https://www.marketresearchfuture.com/report/covid-19-impact-blockchain-in-energy-market
Global Blockchain in Energy market and its vendors’ list contains the names of WePower UAB, Power Ledger Pty Ltd, Grid +, LO3 Energy, Inc, The Sun Exchange (Pty) Ltd, BTL Group Ltd., Enosi Foundation and Electron (Chaddenwych Services Limited) and Conjoule GmbH.
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The segmentation of the blockchain in energy market is conducted on the basis of technology type, platform type, end-use industries, implementation type, and application type. Based on the technology types, the blockchain in energy market is segmented into open blockchain, hybrid blockchain, closed blockchain, and consortium blockchain. Based on the platform type, the blockchain in energy market comprises of tendermint, ethereum, hyperledger, and interbit. Based on the implementation type, the blockchain in energy market comprises of service & solution, development platforms, and industry-specific. The end-use industries based segmentation of the blockchain in energy market includes renewable energy, power & utilities, and oil & gas. The application-based segmentation of the blockchain in energy market consists of energy trading, control & security, payment schemes, grid management, supply chain, and logistics.
Detailed Regional Analysis
The regional examination of the blockchain in energy encompasses regions such as regions as APAC, North America, Europe, and the rest of the regions. The European regional market is one of the first regions in the implementation of the blockchain technology. Germany was credited for the most important market split of 55.88% in 2017, with a market charge of USD 46.6 million and is anticipated to develop at the maximum CAGR of 81.49% throughout the forecast period. The North American region is one of the most important markets for the Blockchain in Energy industry. Besides, the region is observing speedy intensification in blockchain-based energy projects as renewable-based energy generation sources are gradually adding to the intensifying power demand of the region. The U.S. was responsible for the most noteworthy market split of 76.16% in 2017, with a market worth of USD 55.8 million and is expected to extend its advance at the elevated CAGR of 77.68% throughout the forecast period.
A Full Report of Blockchain in Energy Market is Available At @ https://www.marketresearchfuture.com/reports/blockchain-in-energy-market-5814
Table of Contents:
- Report Overview
- Market Trends and Competitive Landscapes
- Segmentation of Blockchain in Energy Market by Type
- Segmentation of Market by End-Users
- Market Analysis by Major Regions
- Product Commodity of Market in Major Countries
- North America Blockchain in Energy Landscapes Analysis
- Europe Blockchain in Energy Landscapes Analysis
- Asia Pacific Blockchain in Energy Landscapes Analysis
- Latin America, Middle East & Africa Blockchain in Energy Landscapes Analysis
- Major Players Profile
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