Industry Background:
Blockchain is an emerging technology that has drawn considerable interest from energy supply firms due to it enables innovative business solutions with smart contracts for the energy sector. Renewable energy sources are variable and it is difficult to predict as it totally depends upon the weather conditions. This raises the demand for better management solutions and blockchain offers a better solution for the energy sector. Blockchain offers facilitate distributed transactions by removing central management results in blockchain could help to address the challenges faced by the energy management system. Furthermore, rising demand for blockchain due to benefits associated such as reduced operation costs, making the business process simple, and maintaining transparency and immutability are driving the overall growth of the market. However, unpredictable climate condition, lack of skilled workforce, high security, and privacy concern are limiting the overall growth of the market. Moreover, an increasing number of government initiatives, continuous investments, and venture capital funding in blockchain technology would create a big opportunity for the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Power Ledger Pty Ltd (Australia), WePower UAB (Australia), LO3 Energy (United States), GridPlus, Inc (United States), BTL Group Ltd (Canada), SAP SE (Germany), The Sun Exchange (Pty) Ltd (South Africa), Conjoule GmbH (Germany), Enosi Foundation (Australia), Electron (Chaddenwych Services Limited) and Accenture (Ireland) |
This growth is primarily driven by Rising Demand for Blockchain Due to Benefits Associate with Blockchain, Increasing Demand for Blockchain as It Reduces Operation Cost and Blockchain Technology Makes Business Process Simple and Maintain Transparency and Immutability.
Globally, a noticeable market trend is evident Rising Adoption of Blockchain Solutions for Smart Contracts, Payments, and Digital Identities Major Manufacturers, such as Power Ledger Pty Ltd (Australia), WePower UAB (Australia), LO3 Energy (United States), GridPlus, Inc (United States), BTL Group Ltd (Canada), SAP SE (Germany), The Sun Exchange (Pty) Ltd (South Africa), Conjoule GmbH (Germany), Enosi Foundation (Australia), Electron (Chaddenwych Services Limited) and Accenture (Ireland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Developments in the Market:
In November 2020, SAP SE acquires Emarsys eMarketing Systems. SAP Consumer Service leverages existing technology capabilities and Emarsys integration to provide a framework for customized omnichannel interactions, enabling consumers to connect when and where they want, on their preferred platform, and on their terms.
In July 2018, Enosi launched a blockchain-based energy trading platform. This blockchain-based system lets users share in the value of renewable energy and opens up energy trading to consumers.
Influencing Trend:
Rising Adoption of Blockchain Solutions for Smart Contracts, Payments, and Digital Identities
Market Growth Drivers:
Rising Demand for Blockchain Due to Benefits Associate with Blockchain, Increasing Demand for Blockchain as It Reduces Operation Cost and Blockchain Technology Makes Business Process Simple and Maintain Transparency and Immutability
Challenges:
High Security and Privacy Concerns
Restraints:
Unpredictable Climate Condition and Lack of Skilled Workforce for Blockchain Technology
Opportunities:
Increasing Number of Government Initiatives and Continuously Increasing Investments and Venture Capital Funding in Blockchain Technology
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Blockchain in Energy Market
- Analysis about New Entrants in Blockchain in Energy Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Blockchain in Energy Study Sheds Light on
The Blockchain in Energy Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Blockchain in Energy industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Blockchain in Energy industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.