The rising adoption of blockchain in the energy industry and growing safety concerns related to automated grids are driving the demand for the market.
— Emergen Research
VANCOUVER, BC, CANADA, May 17, 2023 /EINPresswire.com/ — The global Blockchain in Energy Market is forecasted to be worth USD 8,761.4 Million by 2027, according to a current analysis by Emergen Research. During the forecasted timeline, the global blockchain in the energy market is expected to rise substantially, owing to the rising adoption of blockchain in the energy industry. The growing safety concerns related to automated grids is anticipated to further propel the market growth in the forecast period. Besides, the rising internet of things technology penetration is likely to drive the market growth shortly.
Over the forecast period, the uncertain regulatory environment relating to power generations, significantly rising concerns regarding customer credibility among power management companies, is expected to inhibit the market growth.
Prominent Players Analyzed in the Report:
Infosys Limited
SAP SE
Oracle Corporation
Accenture plc
WePower UAB
IBM Corporation
Microsoft Corporation
Deloitte Touche Tohmatsu Limited
LO3 Energy, Inc
BigchainDB GmbH
others
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Some Key Highlights from the Report
In October 2020, GuideVision was acquired by Infosys Limited. Infosys will enhance its technological transformation with the acquisition, expanding Infosys Cobalt’s cloud services offering and reaffirming its commitment to the rising ServiceNow ecosystem. Infosys’ ServiceNow capabilities will be enhanced by GuideVision’s training academy and offshore facilities, will provide customers in Europe unparalleled abilities in the first hybrid cloud transition.
Due to higher accessibility, the ability to efficient utilization of the network, and distributed architecture, the public segment is likely to hold the largest market. Furthermore, this category enables users to access the system, backed up by incentive-based payment authentication.
Over the forecast timeframe, the Peer-To-Peer Transaction segment is expected to lead the market. Shifting the focus on the development of RES energy, especially wind, solar & marine, to improve the production and accessibility of alternative energy will lead to the growth of the system.
The power industry is expected to dominate the market with a CAGR of 56.2% over the forecasted period. It’s mainly due to blockchain technologies’ ability to manage decentralized sources of energy and a holistic view of energy consumption through tracking.
Due to the high amount of project execution and start-up presence, the European region is anticipated to dominate the market; the European region market is expected to be further driven by growing government funding.
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Emergen Research has segmented the global Blockchain in Energy Market on the basis of type, component, application, end-use, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
Public
Private
Component Outlook (Revenue, USD Million; 2017-2027)
Services
Platform
Application Outlook (Revenue, USD Million; 2017-2027)
Peer-To-Peer Transaction
Grid Transactions
Energy Financing
Electric Vehicle
Sustainability Attribution
Others
End-Use Outlook (Revenue, USD Million; 2017-2027)
Oil & Gas
Power
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Regional Outlook (Revenue, USD Million; 2017-2027)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
Rest of APAC
Latin America
Brazil
Rest of LATAM
MEA
Saudi Arabia
UAE
Rest of MEA
Overview of the Blockchain in Energy Market Report:
Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Strategic recommendations to established players as well as new entrants
In-depth analysis of the risks, restraints, and limitations in the Blockchain in Energy industry
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Emergen Research
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