BLOCKCHAIN IN ENERGY MARKET TO REACH USD 6.8 BILLION BY 2024 | CAGR 72.5% — FORENCIS RESEARCH

  • According to the new market research report “Blockchain in Energy Market by Type (Public, Private, Consortium), by Provider (Platform, Services), by Application (Energy Trading Systems, Peer-to-Peer Energy Trading, Electric Vehicle Charging, Project Financing and Others), by End Use Industry (Power, Oil and Gas), by Region (Asia-Pacific, North America, Europe, Middle East & Africa) — Global Forecast to 2024.”, the global Blockchain in Energy Market is estimated to reach USD 6.8 Billion by 2024 at a CAGR of around 72.5% during the review period.
  • Increasing smart infrastructure and electrical vehicles with the blockchain technology introduced to serve as an envision for the next generation grid which will lead to grow the demand of the market.
  • However, high initial capital cost remain a major restraining factor for the growth of the blockchain in energy market
  • Growing investment in blockchain technology provides high efficiency with the real time updates features which increase the demand of blockchain.
  • Inclination of governing authorities towards smart cities enhanced the security features, resilience and transparency. And also develop more power grid with the help of peer to peer energy.
  • Lack of blockchain standards and range may lead to impact the growth of the market in the projected period.
  • Combining blockchain with IoT and other monitoring technology improve the overall security and reduce the cost which will lead to increase the demand of the market.
  • Asia-Pacific:
  • Europe
  • SAP SE:
  • GridPlus, Inc.

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DataBridge Market Research

DataBridge Market Research

Data Bridge set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approach