Blockchain in Energy Market Share, Segmentation, Report 2025
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<strong>Blockcha<strong>in</strong></strong> <strong>in</strong> <strong>Energy</strong> <strong>Market</strong> will be valued USD 3<br />
billion by <strong>2025</strong>: Global <strong>Market</strong> Insights, Inc.<br />
Oil & gas blockcha<strong>in</strong> <strong>in</strong> energy market is set to witness substantial growth on account of<br />
fewer cost <strong>in</strong>termediaries, limited overhead cost and reduced cash cycle times. Ris<strong>in</strong>g focus<br />
of various <strong>in</strong>dustry giants toward the adoption of technology to streaml<strong>in</strong>e trad<strong>in</strong>g <strong>in</strong> the<br />
non-digital crude oil <strong>in</strong>dustry along with plans to exhibit enhanced security & optimized<br />
efficiency <strong>in</strong> transactions will boost the <strong>in</strong>dustry landscape. For <strong>in</strong>stance, Shell and BP<br />
announced the launch of blockcha<strong>in</strong> oil trad<strong>in</strong>g platform to automate & digitize various<br />
oilfield related services. Furthermore, potential to reduce discrepancies <strong>in</strong> the operations by<br />
enhanc<strong>in</strong>g accuracy <strong>in</strong> freight rates, <strong>in</strong>voice generation and shipment rout<strong>in</strong>g will propel the<br />
<strong>in</strong>dustry growth.<br />
Ris<strong>in</strong>g security concerns of grids & networks on account of <strong>in</strong>creas<strong>in</strong>g <strong>in</strong>terconnection and<br />
digitalization will drive the blockcha<strong>in</strong> <strong>in</strong> energy market growth. Ability to enhance process<br />
efficiency, flexibility, and lead time reduction have garnered the attention of power <strong>in</strong>dustry<br />
giants, thereby stimulat<strong>in</strong>g the technology demand. Moreover, <strong>in</strong>creased loads from <strong>in</strong>flux<br />
of electric vehicles, burgeon<strong>in</strong>g number of smart appliances along with grow<strong>in</strong>g share of<br />
variable distributed generation <strong>in</strong> the grids will complement the <strong>in</strong>dustry outlook.<br />
Enhanced government emphasis toward improv<strong>in</strong>g energy efficiency, privacy,<br />
<strong>in</strong>teroperability and cybersecurity coupled with <strong>in</strong>creas<strong>in</strong>g regulatory focus to implement &<br />
improve the current process will propel the Europe blockcha<strong>in</strong> technology <strong>in</strong> energy market.<br />
In 2018, the European Commission <strong>in</strong>troduced EU blockcha<strong>in</strong> observatory & forum to<br />
encourage the region’s cross border engagement with the technology and its various<br />
stakeholders. In addition, <strong>in</strong>troduction and implementation of various programs to<br />
accelerate the deployment of the technology <strong>in</strong> the energy sector will fuel the <strong>Blockcha<strong>in</strong></strong> <strong>in</strong><br />
<strong>Energy</strong> market growth. For <strong>in</strong>stance, various utilities are offer<strong>in</strong>g green purchase programs<br />
that allow customers to buy bundled energy & renewable energy credits from specific<br />
renewable energy projects.<br />
<strong>Blockcha<strong>in</strong></strong> <strong>in</strong> energy market <strong>in</strong> the private category is set to grow over 45% by <strong>2025</strong>.<br />
Capability to provide simple governance structures, lower cost operations and faster<br />
transactions are some of the prom<strong>in</strong>ent features stimulat<strong>in</strong>g the technology growth.<br />
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Increas<strong>in</strong>g trend to build smart contract applications coupled with the accessibility to select<br />
the participants will enhance the bus<strong>in</strong>ess outlook.<br />
<strong>Blockcha<strong>in</strong></strong> <strong>in</strong> <strong>Energy</strong> <strong>Market</strong> Size By Category (Private, Public), By Application (Power<br />
{Grid Transactions, Peer-To-Peer, <strong>Energy</strong> F<strong>in</strong>anc<strong>in</strong>g, Susta<strong>in</strong>ability Attribution, Electric<br />
Vehicle Charg<strong>in</strong>g, Others}, Oil & Gas {Supply Cha<strong>in</strong>, Operations, Trad<strong>in</strong>g, Security}),<br />
Industry Analysis <strong>Report</strong>, Regional Outlook (U.S., Canada, Mexico, Germany, UK,<br />
Netherlands, France, Spa<strong>in</strong>, Ch<strong>in</strong>a, Japan, S<strong>in</strong>gapore, Australia, New Zealand, Saudi Arabia,<br />
UAE, Bahra<strong>in</strong>, Israel, South Africa, Nigeria, Brazil, Chile), Application Potential,<br />
Competitive <strong>Market</strong> <strong>Share</strong> & Forecast, 2019– <strong>2025</strong><br />
https://bit.ly/2JvUzY2<br />
High potential of the technology to br<strong>in</strong>g reliability & efficiency to the value cha<strong>in</strong> of various<br />
<strong>in</strong>dustries <strong>in</strong>clud<strong>in</strong>g the power sector will boost the blockcha<strong>in</strong> <strong>in</strong> energy market size. In<br />
addition, grow<strong>in</strong>g <strong>in</strong>tegration of renewable energy sources with the grid on account of<br />
achiev<strong>in</strong>g government renewable targets will augment the bus<strong>in</strong>ess growth. Massive<br />
convenience provided by the technology <strong>in</strong> electricity trad<strong>in</strong>g coupled with burgeon<strong>in</strong>g<br />
<strong>in</strong>vestments toward the blockcha<strong>in</strong> technology pilot projects globally will <strong>in</strong>stigate a<br />
favorable <strong>in</strong>dustry scenario.<br />
Em<strong>in</strong>ent participants across the <strong>Blockcha<strong>in</strong></strong> <strong>in</strong> <strong>Energy</strong> market comprises Infosys Limited,<br />
Power Ledger, Accenture, Drift, Grid S<strong>in</strong>gularity, SAP, Oracle, Electron, Grid+, Greeneum,<br />
LO3 <strong>Energy</strong>, Conjoule GmbH, WePower, EnergiM<strong>in</strong>e, Sun Exchange, amongst others.<br />
About Global <strong>Market</strong> Insights:<br />
Global <strong>Market</strong> Insights, Inc., headquartered <strong>in</strong> Delaware, U.S., is a global market research<br />
and consult<strong>in</strong>g service provider; offer<strong>in</strong>g syndicated and custom research reports along with<br />
growth consult<strong>in</strong>g services. Our bus<strong>in</strong>ess <strong>in</strong>telligence and <strong>in</strong>dustry research reports offer<br />
clients with penetrative <strong>in</strong>sights and actionable market data specially designed and<br />
presented to aid strategic decision mak<strong>in</strong>g. These exhaustive reports are designed via a<br />
proprietary research methodology and are available for key <strong>in</strong>dustries such as chemicals,<br />
advanced materials, technology, renewable energy and biotechnology.<br />
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