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Blockchain Technology in the Energy Sector Market Global Demand, Opportunities, Trends, Analysis and Forecast to 2031

03-21-2023 01:55 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Report Ocean

Blockchain Technology in the Energy Sector Market Global

The global blockchain technology in the energy sector market is anticipated to reach over USD 10,287 million by 2026 growing at a CAGR of 52.9% during the forecast period according to a new study published by Report Ocean.

Request To Download Sample of This Strategic Report :-https://reportocean.com/industry-verticals/sample-request?report_id=5139

The key players in Blockchain Technology include, Oracle Corporation, Microsoft Corporation, Deloitte, IBM Corportaion, Grid+, NOdalblock, SAP SE, Power Ledger Pty. Ltd. and Amazon Web Services, Inc.

The report "Blockchain Technology in the Energy Sector Market Share, Size, Trends, Industry Analysis Report By Type (Public, Private); By Application (Energy Trading, Grid Management, Supply Chain Management, Payment Schemes, Others); By End-User (Oil and Gas, Power, Others); By Regions, Segments & Forecast, 2018 - 2026" provides a comprehensive analysis of present market insights and future market trends.

The private sector has dominated the global market in terms of revenue. Asia Pacific was the leading contributor to the global market revenue in 2017. The block chain technology is a cryptographically managed distributed ledger system on offer by vendors to industries engaged in the energy sector.

The block chain technology has come to the forefront with an increasing market for alternative cryptocurrencies coming into adoption thus boosting technology in the energy sector. Cryptocurrencies are finding favorable markets owing to high transaction speeds and immutability. The support factor for growth of cryptocurrencies is the rising penetration of mobile devices, increased mobile broadband speeds and reduced costs of bandwidth.

Rising investments by vendors taking equal part in success of this technology market coupled with primary advancements in broadband technology would accelerate growth of the technology in the energy sector market during forecast period. Emerging economies in the hope of reaping rich dividends express growing interest and with technological advancements are expected to provide stellar growth opportunities in the coming years.

The way blockchain technology in energy sector works is smart contracts are set that allows prosumers to feed surplus energy into the grid through a blockchain enabled meter. The electricity flow is automatically coded into the blockchain and algorithms compare buyers with sellers in real time.

Asia Pacific generated highest revenue in market in 2017. The rising security concerns with online transactions with high transaction speeds and immutability offered by blockchain technology boosts the growth of the market. Astronomical mobile broadband speeds and reduced costs of bandwidth and computing power boost the market growth in the region. The rising adoption of Blockchain-as-a -service, increasing trend of smart payments and contracts, and advances in technology are expected to offer growth during forecast period.

Request Full Report :-https://reportocean.com/industry-verticals/sample-request?report_id=5139

Report Ocean has segmented the global blockchain technology in the energy sector market on the basis of type, application, end-user and region

Blockchain Technology in Energy Sector Type Outlook (Revenue USD Million 2015 - 2026)

Public

Private

Blockchain Technology in Energy Sector Application Outlook (Revenue USD Million 2015 - 2026)

Energy Trading

Grid Management

Supply chain Management

Payment Schemes

Others

Blockchain Technology in Energy Sector End-User Outlook (Revenue USD Million 2015 - 2026)

Oil and Gas

Power

Others

Request Full Report :-https://reportocean.com/industry-verticals/sample-request?report_id=5139

Blockchain Technology in Energy Sector Region Outlook (Revenue USD Million 2015 - 2026)

North America

U.S.

Canada

Europe

UK

Germany

France

Asia Pacific

India

China

Japan

Latin America

Mexico

Brazil

Middle East & Africa

What are the key findings of the report?

?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.

Full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=5139

About Report Ocean:

We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.

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Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 - UNITED STATES Tel: +1 888 212 3539 (US - TOLL FREE)
Website:https://www.reportocean.com/

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