Selbyville, Delaware, June 07, 2019 (GLOBE NEWSWIRE) —
The blockchain in energy market is poised to witness gains at around 50% to reach a valuation of $3 billion by 2025, according to a newly published Global Market Insights, Inc. research report. Growing complexity of power grids owing to increasing integration of renewable energy sources along with burgeoning demand for energy efficient systems for optimizing the grid operations will boost the market size. In addition, increased focus of the utilities toward the technology adoption coupled with massive propensity of the technology to direct constructive transformation will complement the blockchain in energy market landscape.
Growing demand to achieve balance between energy supply and demand mismatch coupled with increasing security concerns owing to ongoing advancements in internet connected devices will accelerate the blockchain in energy market size. Moreover, increasing deployment of the blockchain projects globally coupled with accelerating investments from various power giants toward its adoption will stimulate the technology demand.
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Emergence of peer-to-peer platform along with the unveiling of smart meters have initiated disintermediation, thereby driving the blockchain in energy market. Emerging focus of power utilities to explore thy potential benefits of the technology coupled with increasing percentage of empowered prosumers existing in the renewable power trading will further foster the industry growth.
Oil & gas blockchain in energy market will exhibit substantial growth on account of rising concerns to enhance the trade accuracy along with technical efficiency of the technology to improve accessibility to trade data. Extensive ability to improve the scheduling and back office efficiency along with subsequent reduction in the working capital cycle will accelerate the product…