Pune, India -- (SBWIRE) -- 05/03/2019 -- The report on Blockchain in Energy Market by component (platform, and services), type (private, and public), end-user (power sector, and oil & gas sector), application (grid management, government risk and compliance management, energy trading, supply chain management, and others) trends analysis and forecasts up to 2024 studies the market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of the World. The growth in the world market is primarily driven by a significant contribution by North America (Leading region) region to this market. the global blockchain in the energy market is projected to grow at a CAGR of 79.2% over the forecast period of 2018-2024.

For More Details Get FREE Sample Pages of this Research Report@ https://www.infiniumglobalresearch.com/reports/sample-request/2003

Blockchain In the Energy Market: Industry Insight

A blockchain is a secure, continuously growing list of records. Blockchain is a decentralized database that is segregated and managed by peers, instead of a central server or authority. This technology of blockchain is allowing a new world of decentralized communication and coordination, by establishing the infrastructure to allow peers to safely and rapidly connect with each other without a centralized intermediary. Cryptography assures security and data integrity, while privacy remains intact.

Blockchain In the Energy Market: Drivers and Restraints

Blockchain generates a transparent, auditable, and automated record of energy generation and consumption. This, in turn, results in energy efficiency and cost savings hereby increasing the demand of blockchain in the energy market. Blockchain can be used to make electronic health records (EHR) more trustworthy. This is one of the key factors that boost the market because EHR is trending up due to a substantial increase in the use of cloud-based EHR software, the rapid growth in the aging population, and rising number of chronic diseases and rapid accessibility of real-time patient records.

However, the inadequacy of a clear set of regulatory standards and unreliability of the regulatory landscape might affect the growth of blockchain market. Also due to complications in integration with the current system and the high cost of deployment can hinder the adoption of blockchain. Increasing awareness and on-going developments in the blockchain technology is estimated to fuel up the blockchain market. Already extensively used in the financial services sector, a number of industries are experimenting with the technology as it delivers effective ways to record and process data and the customers can afford well-organized and precise access to their bills thus boosting the market in the forecast period.

Request a Discount on Standard Prices of this Premium Report @ https://www.infiniumglobalresearch.com/reports/request-discount/2003

Blockchain In the Energy Market: Segmentation

Blockchain in the energy market is segmented as a component, type, end-user, and application. On the basis of the component, the sub-markets compromise of platform and services. Depending on the type, the sub-markets include private, and public. While based on end-user, the sub-markets cover sectors such as power, and the oil & gas. Owing to increasing demand for renewable energy sources, power sector dominated the market and may tend to continue the trend in the forecast period. Based on application, the sub-markets include grid management, government risk, and compliance management, energy trading, supply chain management, and others.

Blockchain In the Energy Market: Regional Insight

The regional study covers geographies such as North America, Europe, Asia-Pacific, and the Rest of the World. Europe dominates the blockchain in the energy market due to the presence of major key market players which contributes to the significant growth. Owing to large investments in blockchain technologies by assorted companies, the U.S. drives the growth of blockchain market in energy in the North America region. The Asia-pacific region exhibits considerable potential for market growth as a result of substantial growth in markets such as India and China.

Browse Detailed TOC and Description of this Exclusive Report@ https://www.infiniumglobalresearch.com/energy-mining-infra/global-blockchain-in-energy-market

Report Findings

1. Drivers

- Growing adoption of blockchain in the energy for balancing the regional mismatch of the supply and demand.

- Rising investments in the distributed power generation.

- Benefits such as secured and faster transactions coupled with minimum cost for the transaction.

2. Restraints

- Lack of a common set of regulatory standards.

3. Opportunities

- Rising awareness and on-going developments in the block chain technology.