Blockchain in Energy Market to surpass 50%+ CAGR up to 2025

MarketStudyReport.com Adds Blockchain in Energy Market 2019 – 2025 research report providing information and data By Category, By Application, Industry Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast spreading across 240 Pages with table and figures in it.

Selbyville, Delaware – May 3, 2019 /MarketersMedia/ —

Oil & gas blockchain in energy market will exhibit substantial growth on account of rising concerns to enhance the trade accuracy along with technical efficiency of the technology to improve accessibility to trade data. Extensive ability to improve the scheduling and back office efficiency along with subsequent reduction in the working capital cycle will accelerate the product penetration across the industry. Furthermore, growing emphasis to eradicate the need for clearinghouses and confirmation processing combined with its potential to provide high degree of security, accuracy and reliability of transactions will propel the business outlook.

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Blockchain in Energy Market is anticipated to exceed USD 3 billion by 2025. Growing complexity of power grids owing to increasing integration of renewable energy sources along with burgeoning demand for energy efficient systems for optimizing the grid operations will boost the blockchain in energy market. In addition, increased focus of the utilities toward the technology adoption coupled with massive propensity of the technology to direct constructive transformation will complement the business landscape. Since 2017, over 70 pilot projects have been deployed and more than 140 startups have been announced globally.

Growing demand to achieve balance between energy supply and demand mismatch coupled with increasing security concerns owing to ongoing advancements in internet connected devices will accelerate the blockchain in energy market growth. Moreover, increasing deployment of the blockchain projects globally coupled with accelerating investments from various power giants toward its adoption will stimulate the technology demand. For instance, from the second quarters of 2017 till the first quarter of 2018, venture capitals and ICOs invested nearly USD 271 million toward blockchain based applications.

Blockchain in energy market from private category in 2025 will grow over 45%. Strict control to reduce the downtime along with massive level of security provided by this platform are some of the key parameters stimulating the technology adoption. Moreover, lesser load and limited participants increases its competence to achieve faster transaction rate in comparison to its counterpart, thereby enhancing the business growth.
Emergence of peer-to-peer platform along with the unveiling of smart meters have initiated disintermediation, thereby driving the blockchain in energy market. Emerging focus of power utilities to explore thy potential benefits of the technology coupled with increasing percentage of empowered prosumers existing in the renewable power trading will further foster the industry growth. For instance, residents in Bangkok are involved in peer-to-peer energy trading and have a total generating capacity of about 635 kW.

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Eminent players operating in the blockchain in energy market comprise of Power Ledger, Limited, Oracle, Grid Singularity, Accenture, Greeneum, Drift, SAP, Electron, Grid+, Sun Exchange, WePower, LO3 Energy, EnergiMine, Conjoule GmbH amongst others.

Table of content:

Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Blockchain in Energy Industry Insights
Chapter 4 Blockchain in Energy Market, By Category
Chapter 5 Blockchain in Energy Market, By Application
Chapter 6 Blockchain in Energy Market, By Region
Chapter 7 Company Profiles

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Source URL: https://marketersmedia.com/blockchain-in-energy-market-to-surpass-50-cagr-up-to-2025/508762

Source: MarketersMedia

Release ID: 508762

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