PUNE, India, July 09, 2019 (GLOBE NEWSWIRE) -- Global Blockchain in Energy Industry to reach USD 34.70 million by 2025. Global Blockchain in Energy Industry valued approximately USD 156.7 million in 2016 is anticipated to grow with a healthy growth rate of more than 82.24% over the forecast period 2018-2025. Rapidly increasing utilization of blockchain for data management, for tracking financial transactions and financial interactions. It also Provides a secure network for businesses to manage data. Blockchain reduces operational costs and capital expenditure provides better risk management and security. Automation is gaining popularity this days which needs data integrity and security which is driving the growth Global Blockchain in Energy Industry.
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Furthermore, increasing focus on enabling real-time transactions and designing of more vigorous business models is aiding to the growth of the Industry. However, Shortage regulatory standards, indeterminate regulatory landscape, and authenticity concern of users are the restraints to the Industry. Blockchain refers to a decentralized ledger technology. In the energy sector, it will facilitate people to trade energy among each other. The unused energy is sold to neighboring buildings. While all the buildings are still connected to the grid, transactions are managed and stored on a blockchain.
The regional analysis of Global Blockchain in Energy Industry is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of Industry share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The major market players in Blockchain in Energy Industry are Power Ledger Pty Ltd, WePower UAB, LO3 Energy, Inc., Grid +, BTL Group Ltd., The Sun Exchange (Pty) Ltd., Conjoule GmbH, Enosi Foundation, Electron (Chaddenwych Services Limited)., Accenture, AWS, Bigchaindb, Deloitte, IBM, Infosys, Microsoft, Nodalblock, Oracle, SAP, Enosi, Electron, Drift and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers.
Blockchain in Energy Industry Segmentation:
By Application:
• Grid Management
• Energy Trading
• Government Risk and Compliance Management
• Payment Schemes
• Supply Chain Management
• Others
By Technology Type:
• Open Blockchain
• Closed Blockchain
• Consortium Blockchain
• Hybrid Blockchain
By Type:
• Private
• Public
By Component:
• Platform
• Services
By End-Use:
• Power Sector
• Oil & Gas Sector
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