Global Private Blockchain Technology in Energy Market Overview:
Blockchain technology is an advanced distributed ledger technology Private Blockchain Technology is basically invitation only block chain, and can be developed and designed according to specific sectors and specific users such as energy sector. Private Blockchain Technology has huge potential to transform the entire energy sector. It has capabilities to transform the way we carry out energy transactions, manage our energy grids, optimize operations, etc. Energy Crypto Currencies are a new emergence in the energy sector. Block Chain also has capabilities to drive energy sector towards more sustainable practices. Geographically, Europe is expected to be the biggest market with many other countries around the world adopting block chain in their energy sector.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Growth Drivers
- Improved Operational Transparency and Operational Optimization by the Adoption of Private Blockchain Technology
- Growing Adoption of Digitised Solutions such as Block Chain, Cloud Computing, Machine Learning, etc.
- Enhanced Focus on Data Integration
Roadblocks
- Lack of Skilled Professional for Handling
Opportunities
- Integration of Artificial Intelligence and Block Chain Technology
Challenges
- Integration of Regulatory Bodies
- Complexities Involved with Blockchain Technology
Competitive Landscape:
Block Chain Technology is a next big thing with implications across various sectors, one of them being Energy. Block Chain Technology has capabilities to transform the way energy transactions happen, or the way grid management takes place or to optimise operations and even the emergence of energy crypto currencies.
Some of the key players profiled in the report are IBM (United States), Microsoft Corporation (United States), Accenture (Ireland), SAP (Germany), Infosys Limited (India), Oracle Corporation (United States), Power Ledger (Australia), Greeneum (Israel), WePower (Lithuania), EnergiMine (United Kingdom), Grid Singularity (Germany), Grid+ (United States) and The Sun Exchange (South Africa). Considering Market by End User , the sub-segment i.e. Oil and Gas Companies will boost the Private Blockchain Technology in Energy market. Considering Market by Deployment , the sub-segment i.e. Cloud Based will boost the Private Blockchain Technology in Energy market.
In 2021, Tata Power, India’s largest integrated power company in collaboration with India Smart Grid Forum and Power Ledger has launched India’s first peer to peer energy trading project in some parts of Northern Delhi. The platform which includes Tata Power Delhi Distribution Limited’s facilities and tata power’s customers. The Block Chain enabled platform can be used by any individual to buy and sell their excess energy to another household or commercial sites.
What Can be Explored with the Private Blockchain Technology in Energy Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Private Blockchain Technology in Energy Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Private Blockchain Technology in Energy
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Private Blockchain Technology in Energy market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Private Blockchain Technology in Energy market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Private Blockchain Technology in Energy Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.