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Blockchain In Energy Market 2019 Global Size, Growth Trends, And Regional Outlook to 2023 is latest report published by Market Research Future. Global Blockchain In Energy Market is to grow at healthy 74.35% CAGR by 2023. Global Blockchain In Energy Market by Technology Type (open blockchain, closed blockchain, consortium blockchain, and hybrid blockchain), Platform (Ethereum, Hyperledger, Tendermint, and Interbit), Implementation (service & solution, development platforms, and industry-specific), End-Use (grid management, energy trading, control & security, payment schemes, and supply chain & logistics), Region with Forecast To 2023.Blockchain In Energy Key Players Analyzed in Report:
Power Ledger Pty Ltd (Australia), WePower UAB (Republic of Lithuania), LO3 Energy, Inc (U.S.), Grid + (U.S.), BTL Group Ltd. (Canada), The Sun Exchange (Pty) Ltd. (South Africa), Conjoule GmbH (Germany), Enosi Foundation (Australia), and Electron (Chaddenwych Services Limited) (U.K).
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Blockchain In Energy Sector Highlights:
The global blockchain in energy market valued at USD 180.3 million in 2017 and is expected to grow significantly to reach an estimated evaluation of USD 5.03 billion by the end of 2023. The market is poised to proliferate in response to robust demand and achieve a highly remarkable CAGR of 74.35% during the assessment period of 2019 to 2023. Blockchain technology has many superior and desirable features such as complete security and transparency of all transactions and interactions. Information entered is difficult to tamper with and is permanently stored and is witnessing a high adoption rate, thus driving demand and growth of the global market.
The gradually growing demand for blockchain as a technology is expected to disrupt the core of the several industries where it may be implemented. The beginning of the concept of blockchain in energy originated as a niche product on the market peripheries but has captured the attention of several industry experts and leaders in recent times. The use of blockchain technology in the energy sector allows energy companies the chance to make substantial cost-saving and process efficiencies which is a significant advantage that is expected to be derived from the implementation of blockchain in energy. However, the preliminary potential of blockchain technology in the energy industry proves its potential to be that of a robust technology in its imminent energy industry applications.
Blockchain can make a significant impact on factors such as operational costs, capital expenditure, risk management, and security. Increased automation with data integrity and security is expected to support the growth of the global blockchain in energy market over the next couple of years. In addition, shifting focus towards enabling real-time transactions and creating more dynamic business models in expected to create market opportunities in near future.
Global Blockchain In Energy Market Segments:
The blockchain in energy market is segmented based on end-use industries, technology type, platform type, implementation type, and application type.
By technology type, the market is segmented into closed blockchain, open blockchain, hybrid blockchain and consortium blockchain. Closed Blockchain is accredited for a significant market share of 77.71% in 2017 and is projected to develop at the highest CAGR of 76.88% during the forecast period.
The platform type basis of segmentation of the market comprises of hyperledger, ethereum, tendermint, and interbit. Ethereum is responsible for the leading market share of 76.89% in 2017, with a market value of USD 138.6 and is likely to develop at the highest CAGR of 78.56% during the forecast period.
The market segmentation of the market based on implementation type comprises of development platforms, service & solution, and industry specific. The end use industries-based segmentation of the market includes power & utilities, renewable energy, and oil & gas.
The applications-based segmentation of the computer vision market consists of grid management, energy trading, control & security, payment schemes, supply chain and logistics.
Global Blockchain In Energy Sector Regional Overview:
Europe accounts for the largest regional segment in the blockchain in energy sector due to the regions forward-thinking the approach to the adoption of blockchain platforms in the energy sector. The European Commission has recently launched the EU Blockchain Observatory & Forum with the aim of understanding the key developments in the blockchain technology and to promote European players to develop and invest in blockchain activities. Investments in this technology are encouraged by the fact that blockchain platforms offer substantial reductions in operating costs, transparency and security. Countries such as the U.K, France, Germany, Spain, Norway, and the Netherlands are a part of 22 European nations which have formed a blockchain partnership to freely exchange information which will assist in advancing applications of the technology.
North America possesses the second most significant segment in the global market and closely follows Europe. There is a rapid growth in blockchain based energy projects as the adoption of renewable energy grows in order to meet the burgeoning demand for power in the region. Use of blockchain platforms in the region is expected to reduce costs and solve data management complications. The use of blockchain technology for data management, development of new business models and to keep a better track of clean energy generated is expected to drive growth in the region during the forecast period.
TABLE OF CONTENTS:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued…
List Of Tables:
TABLE 1 MARKET SYNOPSIS 13
TABLE 2 LIST OF ASSUMPTIONS 17
TABLE 3 POTENTIAL RISKS DUE TO BLOCKCHAIN IMPLEMENTATION 32
Continued…
LIST OF FIGURES:
FIGURE 1 GLOBAL BLOCKCHAIN IN ENERGY MARKET: MARKET STRUCTURE 17
FIGURE 2 KEY TAKEAWAYS FROM BLOCKCHAIN IN ENERGY MARKET 18
FIGURE 3 KEY ADOPTION CRITERIA OF GLOBAL BLOCKCHAIN IN ENERGY MARKET 18
FIGURE 4 RESEARCH PROCESS OF MRFR 20
FIGURE 5 TOP DOWN & BOTTOM UP APPROACH 23
FIGURE 6 DROC ANALYSIS OF GLOBAL BLOCKCHAIN IN ENERGY MARKET 25
Continued…
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Release ID: 88906042
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