Zion Market Research, the market research group announced the analysis report titled "The global blockchain in the energy market is expected to reach around 11,899 million dollars by 2024"
This press release was originally distributed by SBWire
Sarasota, FL – (SBWIRE) – 12/29/2018 – Zion Market Research has published a new report entitled "Blockchain in the energy market by type (public and private), by component (platform and services), to End-User (Power and Oil & Gas sector) and application (network management, energy trading, risk management and government compliance, payment schemes, supply chain management and more): Global industry perspective, complete analysis and forecast, 2017-2024 ". According to the report, the global blockchain in the energy market was valued at around USD 208 million in 2017 and is expected to reach approximately USD 11,899 million by 2024, with a CAGR of more than 78.20% above 2018 and 2024.
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Blockchain can also be defined as decentralized accounting register technology. It does not have a central system or a central server. The authentication of these servers is publicly managed. Help people to exchange energy between them. Blockchain applications in the energy market include payment schemes, network management, governance risk and compliance management, energy trading and supply chain management.
The blockchain in the energy market is developed and able to meet the growing demand for energy all over the world. These systems are advantageous, since they offer fast and secure transactions at a low cost without involving any conventional intermediary. This, in turn, is likely to drive this market in the future. Energy and utility companies are exploring different ways to develop and implement blockchain technology, as it provides efficient ways to record and process data, and customers can afford simplified and accurate access to their invoices. This system can provide effective access to various energy sources and accurate use of service data. These characteristics of blockchain energy are gaining more and more popularity in the energy sector and, therefore, it is likely that they will drive this technology in the energy sector in the future. However, the lack of a clear set of regulatory standards and the uncertainty of the regulatory landscape could hinder this market. However, progress in international trade and supply chain management should provide many opportunities for key players in the global blockchain in the energy market.
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The global blockchain in the energy market is segmented by type, component, application and end user. By type, this market is bifurcated in private and public. The component segment includes the platform and services. The application of the global blockchain in the energy market includes network management, energy trading, risk management and government compliance, payment systems, supply chain management and others. For the end user, this global market is divided into energy and oil and gas sectors. In 2017, the energy sector dominated the market and the trend is expected to continue in the expected time period. This can be attributed to the growing demand for renewable energy worldwide.
By region, the global blockchain in the energy market includes North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. Europe holds the most significant share of the blockchain in the energy market, in terms of volume, in 2017. This may be due to the presence of important market players who are contributing to substantial developments in this regional market. The North American blockchain in the energy market is expected to see significant growth in the coming years, due to the massive investments in blockchain technologies by various companies in the region.
Some important operators operating in the global blockchain in the energy market are SAP SE, BigchainDB, BTL Group Limited, Deloitte, Grid +, Infosys, Microsoft, Nodalblock, IBM, AWS, Oracle, Accenture, Power Ledger, WePower and Lo3 Energy, Inc., among others.
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About Zion Market Research
Zion Market Research is an obliged company. We create futuristic, cutting-edge and informative reports ranging from industry reports, corporate reports to national reports. We provide our clients with not only the market statistics presented by private publishers and public organizations declared, but also fashion and last generation relationships together with pre-eminent and niche business profiles. Our database of market research reports includes a wide variety of reports from the cardinal industries. Our database has been constantly updated in order to satisfy our customers with direct and direct access to our database. Keeping in mind the needs of the client, we have included expert insights on the sectors, products and global market trends in this database. Last but not least, we have a duty to ensure the success of customers connected to us, after all, if you do well, a little light shines on us.
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