Pump Up Your Sales With These Remarkable Global Blockchain Technology In Energy Market Tactics

The global blockchain in energy market size will grow by USD 283.41 million during 2019-2023. This report offers an analysis of the market based on end-user (power and oil and gas) and geography (the Americas, APAC, and EMEA). The blockchain technology in energy market research report further analyzes the market’s competitive landscape and offers information on several companies including Accenture, IBM, Microsoft, Oracle, and SAP.
 
To identify growth opportunities in the blockchain technology in energy market, the market has been segmented into regions that are growing faster than the overall market. These regions have been pitted against regions that have a slower growth rate than the global market in 2018-2023. APAC and EMEA will grow faster than the overall market. The growth of the Americas will be slower than the global market.
 
Global blockchain technology in energy industry overview
The use of blockchain technology to prevent failure in power grids is identified as one of the major factors driving the growth of the blockchain technology in energy market. Enterprises use blockchain technology in power grids to transform them into smart power grids. Blockchain indicates the failure in power grids by tracking it down in advance and communicate it to the companies. The adoption of this technology reduces the loss that enterprises may incur in case of a breakdown. By implementing blockchain technology, enterprises can also get a daily update, thus helping them in timely detection of problems.
 
Furthermore, the growing strategic alliance for the development of blockchain technology is one of the key market trends that will fuel the growth of the blockchain in energy market size. Vendors in the market are investing extensively in strategic partnerships, joint ventures, and acquisitions to hold a major share in the market while expanding their presence in new regions. As a result, the growing use of blockchain technology to prevent failure in power grids coupled with growing strategic alliances among the vendors are some of the factors that will lead the blockchain in energy market to register a CAGR of over 65% during the forecast period.

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