Blockchain in Energy Market Analysis:
Blockchain in Energy Market is projected to be worth USD 17,110. 1 million, registering a CAGR of 78.32% during the forecast period (2022 – 2030).
Market Research Future Insights
The advantages of reduction in costs and capital expenditure are predicted to bolster the long term growth of the blockchain in energy market. The need for real-time connections is estimated to transform the opportunities in the blockchain in energy market.
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Covid-19 Impact on Blockchain in Energy Market
Remote Work and Collaboration: The pandemic forced many companies to adopt remote work policies to ensure business continuity and the safety of their employees. In the blockchain in energy market, this shift resulted in increased utilization of blockchain technology for remote collaboration and data sharing. Blockchain’s decentralized nature and cryptographic security features facilitated secure communication and efficient coordination among remote teams.
Supply Chain Disruptions: The energy sector experienced supply chain disruptions due to lockdown measures, travel restrictions, and reduced workforce capacity. These disruptions impacted the deployment and implementation of blockchain solutions in the energy industry. Projects that required physical infrastructure installations or on-site maintenance faced delays, affecting the overall growth of the blockchain in energy market.
Segmental Analysis
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.
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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.
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.
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The North American region is one of the most important markets for the blockchain in the 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.
Key Players:
Power ledger private limited, We power UAB,LO3 Energy Inc Grid, BTL group limited, The sun exchange limited, Conjoule GmbH, Enosis foundation, Electron, Infosys limited, SAP SE, Oracle corporation, Accenture PLC, We Power UAB,IBM corporation, Micro-soft corporation, Deloitte Touche Tohmatsu limited.
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