Blockchain Market in the Global Energy Sector - Forecast to 2023: CAGR to Grow at 50% - Smart Contracts to Witness the Fastest Growth - ResearchAndMarkets.com
Aug. 17, 2018
DUBLIN--(BUSINESS WIRE)--Aug 17, 2018--The "Global Blockchain Market In The Energy Sector - Growth, Trend and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
Blockchain Market in the Energy Sector Market is expected to register a CAGR of over 50%, during the forecast period 2018-2023.
The global energy market is estimated to be USD 8.9 trillion and is largely monopolized. By incorporating blockchain technology, the industry can move from its present centralized architecture to a more decentralized peer-to-peer energy trading market, thus allowing consumers to trade energy within a peer-to-peer market. Further, this also allows more transparency and security across the enterprise as well.
There are a number of blockchain-based enterprises that are already working on tailored energy solutions. For instance, Electron, which is a UK startup and Power Ledger an Australian blockchain-based energy company are some of the firms that are working to implement the peer-to-peer energy trading market. Also, Blox Labs Inc., in partnership with Sonoro Energy Ltd., has commenced development of PetroBLOX, a blockchain-based smart contract supply chain management platform for the global oil and gas industry.
All these factors coupled with the growing investments by venture capitalists, investments in microgrids, greater acceptance of cryptocurrency, collaborations between blockchain companies and energy corporations have been instrumental in driving the global blockchain market in the energy sector. However, the lack of regulations and the presence of open source platforms is hindering the growth of this market.
Key HighlightsSmart Contracts to Witness the Fastest Growth United Kingdom to Witness Fastest Growth in Europe
Developments in the MarketMay 2018 - Amazon announced its partnership with Kaleido, a start-up company aimed at offering blockchain-as-a-service (BaaS) to its AWS business customers. This partnership is aimed at strengthening the company's position in the blockchain technology market.
Companies FeaturedAmazon Web Services Inc. IBM Corporation Microsoft Corporation SAP SE Ripple Labs Inc. Capgemini SE Chain Inc. Earthport Plc Bitfury USA Inc. BTL Group Alphapoint Corporation
Key Topics Covered
2. Blockchain Market in the Energy Sector Research Approach and Methodology
3. Executive Summary
4. Blockchain Market in the Energy Sector Dynamics
5. Notable Blockchain Associations and Their Role in the Blockchain Environment
6. Case Studies of the Energy Blockchain
7. List of Licensed Cryptocurrencies Country-Wise
8. Global Blockchain Market in Energy Sector - Segmented by Application
9. Global Blockchain Market in Energy Sector - Segmented by Geography
10. Competitive Landscape - Key Vendor Profiles
11. Emerging Players and Start-Ups
12. Blockchain Market in the Energy Sector Investment Analysis
13. Future Outlook
For more information about this report visit https://www.researchandmarkets.com/research/sv75zs/blockchain_market?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180817005254/en/
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PUB: 08/17/2018 10:41 AM/DISC: 08/17/2018 10:40 AM