Blockchain Technology in the Energy Sector Market By Growth Factors and Industry Players: Accenture, Deloitte, Grid+, Nodalblock and others.

The Blockchain Technology In The 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.

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Blockchain Technology In The Energy Sector Market Top Key Player:

• Accenture
• Oracle Corporation
• Microsoft Corporation
• Deloitte
• IBM Corporation
• Grid+
• Nodalblock
• SAP SE
• Power Ledger Pty Ltd
• Amazon Web Services, Inc.

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.

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.

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By Segments:

Blockchain Technology In The Energy Sector Type

• Public
• Private

Blockchain Technology In The Energy Sector by Application

• Energy Trading
• Grid Management
• Supply Chain Management
• Payment Schemes
• Others

Blockchain Technology In The Energy Sector by End-User

• Oil and Gas
• Power
• Others

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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