According to this study, over the next five years the Blockchain Technology in Energy market will register a +40% CAGR in terms of revenue, the global market size will reach US$ 2647.2 million by 2024, from US$ 484.2 million in 2019.
Blockchain is a technology that enables so-called “peer-to-peer” transactions. With this type of transaction, every participant in a network can transact directly with every other network participant without involving a third-party intermediary. Blockchain technology can help reducing energy inequality and inefficiency and empower consumers to buy and sell energy from other consumers directly. Energy companies can leverage blockchain to impact capital expenditure, security, operating costs, and risk management.
Blockchain Technology in Energy Market by Reports Monitor report includes market size, growth rate, market share, application, future trends. The market research of Blockchain Technology in Energy is precise but encloses all points in brief which are essential and relevant for a customer of Blockchain Technology in Energy industry.
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Top Key Players:
IBM, Microsoft, Accenture, ConsenSys, Infosys, Drift, Electron, Btl Group Ltd., LO3 Energy Inc and Power Ledger
Blockchain Technology in Energy Market Segmentation by product Type:
- Public Blockchain
- Private Blockchain
Blockchain Technology in Energy Market Segmentation by Application:
- Electric Power
- Natural Gas
Geographically, the Global Blockchain Technology in Energy Market has been scrutinized across the global regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, and Europe based on different business perspectives. On the basis of geographies, different attributes of top enterprises are also mentioned in the report. Report Consultant take pride in providing analytical report worldwide for notable business decisions.
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It is estimated that the global Blockchain Technology in Energy Market will expand at an impressive pace in the next few years. A number of factors are considered to be of utmost importance in bringing about this change, including technological advancements in the field of renewable power production and battery storage. In the past few years, the costs of solar panels have fallen by nearly 80% and more economical and efficient products are being introduced in the global market every passing day.
Major highlights of the global research report:
- Detailed elaboration on latest technologies and their influence on the global market
- It offers qualitative and quantitative research of the global market
- Applicable sales approach for expansion of the businesses
- It enlists the trends, threats, challenges, and opportunities
- Elaboration on effective marketing and global distribution channels
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The global data has been observed through industry-specific analysis tools like SWOT and Porter’s five techniques. This informative data has been gathered through reliable sources such as press releases, websites, interviews, and statistical surveys.