NEW YORK, Sept. 15, 2023 /PRNewswire/ — The Blockchain Technology In Energy Market report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for blockchain technology in the energy market between 2021 and 2026 is USD 919.5 million. The use of blockchain technology to prevent failure in power grids drives blockchain technology in the energy market. Blockchain technology is used to distribute power sources because it can modernize the power grid. Using blockchain technology in power grids can improve their performance by making them smart power grids. Furthermore, the technology helps enterprises track down failures in the power grid in advance and communicate it to the companies. Hence, such factors boost the growth of blockchain technology in the energy market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
- Market Challenge – The high cost of implementing and maintaining blockchain technology challenges the growth of the market. As a result of the adoption of blockchain technology, the energy sector is expected to have long-term benefits in terms of productivity, security, and efficiency. However, the initial implementation of the technology is capital-intensive because the software required to run blockchain technology in organizations must be developed as per the requirements of the firm. Hence, such factors impede the growth of blockchain technology in the energy market during the forecast period. Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now
The blockchain technology in the energy market is segmented by End-user (Power and Oil and gas) and Geography (Europe, North America, APAC, Middle East and Africa, and South America).
- The power segment will be significant during the forecast period. Governments in various countries have shifted their power generation process toward renewable sources. this results in them relying heavily on solar power and volatile wind. Customers are also installing their own equipment, ranging from batteries to solar panels and smart appliances, to control their consumption and production of electricity. Enabling frictionless, swift, transparent, and secure currency trading are some of the benefits of using blockchain technology in this sector. hence, such advantages drive the growth of the power segment of blockchain technology in the energy market during the forecast period.
- 38% of the market’s growth will originate from Europe during the forecast period. View Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the blockchain technology in the energy market:
Accenture Plc, Amazon.com Inc., BigchainDB GmbH, Capgemini SE, Chaddenwych Services Ltd., Deloitte Touche Tohmatsu Ltd., Drift Marketplace Inc., Enosi Australia Pty Ltd., Greeneum Ltd., HCL Technologies Ltd., Infosys Ltd., International Business Machines Corp., LO3 Energy Inc., Oracle Corp., Power Ledger Pty Ltd., SAP SE, Tata Consultancy Services Ltd., Tencent Holdings Ltd., WePower UAB, Wipro Ltd.
Related Reports:
The Web 3.0 blockchain market is estimated to grow at a CAGR of 47.85% between 2022 and 2027. The market size is forecast to increase by USD 27,422.25 million.
Blockchain technology in healthcare market is estimated to grow at a CAGR of 32.79% between 2022 and 2027. The market size is forecasted to increase by USD 1,939.31 million.
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Blockchain Technology In Energy Market Scope |
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Report Coverage |
Details |
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Base year |
2021 |
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Historic period |
2017-2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 66.37% |
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Market growth 2022-2026 |
USD 919.5 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
62.65 |
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Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
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Performing market contribution |
Europe at 38% |
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Key countries |
US, China, UK, Germany, and Russia |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Accenture Plc, Amazon.com Inc., BigchainDB GmbH, Capgemini SE, Chaddenwych Services Ltd., Deloitte Touche Tohmatsu Ltd., Drift Marketplace Inc., Enosi Australia Pty Ltd., Greeneum Ltd., HCL Technologies Ltd., Infosys Ltd., International Business Machines Corp., LO3 Energy Inc., Oracle Corp., Power Ledger Pty Ltd., SAP SE, Tata Consultancy Services Ltd., Tencent Holdings Ltd., WePower UAB, and Wipro Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
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With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
