Dublin, Dec. 12, 2019 (GLOBE NEWSWIRE) -- The "Global Blockchain in Energy Market: Focus on Type (Public, Private), Components (Platform, Hardware), End Users (Power, Oil & Gas), Applications, Region, Stakeholder Analysis, and Regulatory Landscape - Analysis and Forecast, 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The market to grow at a significant CAGR of 54.09% during the forecast period from 2019 to 2024.
Over the last decade, the energy sector has transformed drastically, primarily characterized by major technological disruptions. Power utilities have also faced constant pressures from regulatory bodies to reduce their carbon footprint and augment customer flexibility. In order to accommodate the growing requirements and meet the shareholder expectations, utilities have initiated several strategies such as the rollout of dynamic pricing for reducing peak-load, large-scale investments in distributed generation systems, and improvements in grid balancing through demand response management.
Blockchains are essentially immutable digital ledgers that can be used to securely record all transactions taking place on a given network - once data is sealed within a block it cannot be changed retroactively. This includes not only financial transaction data, but almost anything of value.
The technology is enabling decentralized communication and co-ordination, by building the infrastructure to allow peers to safely, cheaply, and quickly connect with each other without a centralized intermediary. Cryptography ensures security and data integrity, while privacy remains intact. An economic incentive framework, also known as a consensus mechanism, allows for the peer-to-peer validation of transactions through improved security, better data management, and increased ability to co-operate among multiple actors, while bypassing the need for a trusted, centralized intermediary to verify transactions.
The rising demand for power generation from renewable sources of energy across the globe has propelled the need for increasing usage of blockchain. Moreover, there is an essential concern for decentralized power generators in the electricity distribution supply chain to reduce electricity demand.
In regions such as North America and Europe, there is huge availability of renewable energy. As a result, the blockchain market is expected to grow exponentially. The blockchain in the energy market in the Asia-Pacific region is anticipated to display huge growth prospects supported by innovative technological advancements in the energy industry and increasing demand for electricity.
Key Questions Answered
- What is the global blockchain in energy market size in terms of revenue from 2018-2024, and what is the expected growth rate during the forecast period 2019-2024?
- What is the revenue generated by different types of blockchains such as public and private at a global and regional level?
- What is the revenue generated by blockchain-based on different components such as platforms & software and hardware & services at a global and regional level?
- What is the revenue generated by blockchain-based on different end-users such as power and oil & gas at a global and regional level?
- What is the revenue generated by blockchain-based on different applications for power and oil & gas at a global and regional level?
- What is the market size and what are the various market opportunities of blockchain in energy across different regions?
- What are the major driving forces that are expected to increase the demand for the blockchain in the energy market during the forecast period?
- What are the major challenges inhibiting the growth of the global blockchain in the energy market?
- Which are the major stakeholders in terms of their contribution and impact in the blockchain in the energy ecosystem?
- What kind of new strategies are adopted by the existing market players to expand their market position in the industry?
- What is the regulatory landscape in different regions for blockchain in energy?
Key Topics Covered
1 Blockchain in Energy Market
1.2 Types of Consensus Protocols
1.2.1 Proof of Work (PoW)
1.2.2 Proof of Stake (PoS)
1.2.3 Proof of Authority (PoA)
1.3 Blockchain Structure
1.3.1 Foundational Elements of Blockchain
1.3.2 Types of Blockchain
188.8.131.52 Public Blockchain
184.108.40.206 Private Blockchain
220.127.116.11 Hybrid Blockchain
1.4 Overview - Blockchain in Energy Industry
2 Market Dynamics
2.1 Market Drivers
2.1.1 Increasing Demand for Decentralized Power Generation
2.1.2 Increasing Demand for Renewable Sources of Energy
2.1.3 Favorable Government Initiatives
2.2 Market Restraints
2.2.1 High Initial Investment
2.2.2 Privacy and Security Risk
2.3 Market Opportunities
2.3.1 Integration of Virtual Power Plant in Blockchain
2.3.2 Emerging Market of Electric Vehicles
2.3.3 Increasing Necessity for Oil and Gas Sector
3 Competitive Landscape
3.1 Key Market Developments and Strategies
3.1.1 Project Launches
3.1.2 Partnerships, Collaborations, and Joint Venture
3.1.3 Platform Launches
3.1.4 Others (Investments)
3.2 Competitive Positioning of Key Players in Blockchain in Energy Market
4 Industry Analysis
4.1 Role of Internet of Things in Blockchain in Energy Market
4.2 Stakeholder Analysis
4.3 Consortiums and Associations
4.3.1 Ethereum Enterprise Alliance
4.3.2 Hyperledger Project
4.3.3 Trusted IoT Alliance
4.4 Regulatory Landscape in the Blockchain Ecosystem
4.5 Investment and Funding Landscape
5 Global Blockchain in Energy Market (by Type)
5.1 Market Assumptions
5.2 Market Limitations
5.3 Market Overview
5.4.1 Factors Limiting the Growth of Public Blockchains
18.104.22.168 Transactions are Expensive to Process on Public Blockchains
22.214.171.124 Public Blockchains have High Energy Bills
126.96.36.199 Public Blockchains have Privacy Risks
5.4.2 Benefits of Using a Public Blockchain
188.8.131.52 Public Blockchains Provide Interoperability
184.108.40.206 Public Blockchain Offer Compatible Resources
220.127.116.11 Public Blockchain Allow User Independence
5.5.1 Benefits of Using a Private Blockchain
18.104.22.168 Permissions can be Assigned
22.214.171.124 Better Scalability
126.96.36.199 Low Response Time on Transactions
188.8.131.52 Compliance Support and Management
6 Global Blockchain in Energy Market, (by Component)
6.1 Market Overview
6.3 Hardware and Ancillary Services
7 Global Blockchain in Energy Market, (by End User)
7.1 Market Overview
7.2.1 Power Generation
7.2.2 Power Transmission
7.2.3 Power Distribution
7.3 Oil & Gas
184.108.40.206 Identity & Certification on the Blockchain
220.127.116.11 Field Capture Errors & Data Sanitation
18.104.22.168 Financial Reconciliation
22.214.171.124 Performance-Based Contracts (PBCs)
126.96.36.199 Product Tracking
188.8.131.52 Industrial Infrastructure Maintenance
184.108.40.206 Reconciliation for Downstream
220.127.116.11 Automated Payments & Credits
8 Global Blockchain in Energy Market (by Applications)
8.1 Market Overview
8.2 Power Applications
8.2.1 Peer-to-Peer Power Trade
8.2.2 Grid Management & System Operation
8.2.3 Financing Renewable Energy Development
8.2.4 Electric Mobility
8.2.5 Management of Renewable Energy Certificates (RECs)
8.3 Oil & Gas Applications
8.3.1 Ticketing Solutions
8.3.2 Commodity Trading
9 Global Blockchain in Energy Market (by Region)
10 Company Profiles
- BP p.l.c.
- E.ON SE
- Energy Web Foundation
- Grid Plus, Inc.
- IBM CORPORATION
- LO3 Energy, Inc.
- MICROSOFT CORPORATION
- ORACLE CORPORATION
- Power Ledger
- SP GROUP
- TOKYO ELECTRIC POWER COMPANY HOLDINGS
- Tennet Holding B.V.
- VAKT Global Ltd.
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