New York
City, 24 January 2019: The Report Blockchain Technology InThe Energy Sector Market is anticipated to reach over USD 10,287 million by 2026 according
to a new research published by Polaris Market Research. In 2017, the private
segment dominated the global market, in terms of revenue. Asia-Pacific was the
leading contributor to the global market revenue in 2017.
The growing
adoption of Blockchain-As-A-Service, and increasing market for alternative
cryptocurrencies has boosted the adoption of Blockchain technology in the
energy sector. Merchants are increasingly accepting cryptocurrencies owing to
high transaction speeds and immutability. The rising penetration of mobile
devices, increased mobile broadband speeds, and reduced costs of bandwidth
further support the growth of the global blockchain technology in the energy
sector market is segmented on the basis of type, application, end-user, and
region.
On the basis
of type, the market is segmented into Public, and Private. The application
segment is bifurcated into Energy Trading, Grid Management, Supply Chain
Management, Payment Schemes, and others. The end-user segment is divided into
Oil and Gas, Power, and others.
Increasing
investments by vendors in technological advancements coupled with advancements
in broadband technology would accelerate the growth of the Blockchain
technology in the energy sector market during the forecast period. Growing
demand from emerging economies, and technological advancements are expected to
provide numerous growth opportunities in the coming years.
Competitive Landscape and Key Vendors:
Asia-Pacific
Blockchain Technology in the Energy Sector Market generated the highest revenue
in 2017. The rising security concerns, and high transaction speeds and
immutability offered by blockchain technology support the growth of the market.
The increased mobile broadband speeds, and reduced costs of bandwidth and
computing boost the market growth in the region. The growing adoption of
Blockchain-As-A-Service, increasing trend of smart payments and contracts, and
technological advancements are expected to offer growth opportunities during
the forecast period.
The leading
companies profiled in the Blockchain Technology In The Energy Sector Market
Report include Accenture, Oracle Corporation, Microsoft
Corporation, Deloitte, IBM Corporation, Grid+, Nodalblock, SAP SE, Power Ledger
Pty Ltd, and Amazon Web Services, Inc. These companies launch new products and
collaborate with other market leaders to innovate and launch new products to
meet the increasing needs and requirements of consumers.
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