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Jul 21, 2021 (The Expresswire) — Global “Blockchain Market” (2021-2023) research provides an outline of the business with key insights, applications and the industrial chain structure. Additionally, it provides information of the worldwide market including advancement patterns, focused scene investigation, key locales and their improvement status. Advanced approaches and plans are examined just as assembling procedures and cost structures are dissected likewise. The report states import/trade utilities, market figures, cost, value, income and gross productivity of the market.
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List of TOP KEY PLAYERS in Blockchain Market Report are –
● Amazon Web Services
● Ibm Corporation
● Microsoft Corporation
● Sap Se
● Ripple Labs Inc.
● Capgemini Se
● Earthport Plc
● Bitfury Usa Inc.
● Btl Group
● Alphapoint Corporation
“Final Report will add the analysis of the impact of COVID-19 on the In Memory Computing industry.”
COVID-19 Impact on Market:
The recent COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then, it has spread around the globe at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-affected countries in terms of positive cases and reported deaths, as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global food and beverage industry is one of the major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. China is the global manufacturing hub, with the presence of and the largest raw material suppliers. The overall market break down due to COVID-19 is also affecting the growth of the bacon market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
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Blockchain Market In The Energy Sector Market is expected to register a CAGR of over 50%, during the forecast period 2018 – 2023. The scope of the market covers the solutions and services of the blockchain technology.
The global energy market is estimated to be USD 8.9 trillion and is largely monopolized. By incorporating blockchain technology, the industry can move from its present centralized architecture to a more decentralized peer-to-peer energy trading market, thus allowing consumers to trade energy within a peer-to-peer market. Further, this also allows more transparency and security across the enterprise as well.
There are a number of blockchain-based enterprises that are already working on tailored energy solutions. For instance, Electron, which is a UK startup and Power Ledger an Australian blockchain-based energy company are some of the firms that are working to implement the peer-to-peer energy trading market. Also, Blox Labs Inc., in partnership with Sonoro Energy Ltd., has commenced development of âPetroBLOXâ, a blockchain-based smart contract supply chain management platform for the global oil and gas industry. All these factors coupled with the growing investments by venture capitalists, investments in microgrids, greater acceptance of cryptocurrency, collaborations between blockchain companies and energy corporations have been instrumental in driving the global blockchain market in the energy sector. However, the lack of regulations and the presence of open source platforms is hindering the growth of this market.
Smart Contracts to Witness the Fastest Growth
While the deployment of cryptocurrencies is an alternative to other digital payment systems, the use of smart contracts is far more sophisticated, such as bonds, mortgages, and property transactions and peer to peer trading among others. Smart contracts, can reduce labor costs, reduce manual and semi-automated processes, reduce capital costs through faster settlements, and reduce technology costs by decreasing dependency on redundant systems. It has the potential to enable company savings in the range of 30 – 60%. With the aim to streamline processes and the increasing adoption of automation across the energy sector has created opportunities for the deployment of smart contracts.
United Kingdom to Witness Fastest Growth in Europe
The blockchain market in UK is buoyed by government initiatives which includes the investment a total of EUR 19 million in projects which will result in new products or service in the fields of emerging and enabling technologies, including using distributed ledgers. Prior to this, Innovate UK was also funded with EUR 248,000 to a blockchain startup to develop a cross-border financial transaction tool. Further, with an increasing focus on deployment of smart grids and smart meters aimed at fulfilling the countryâs 2020 goals, there has been a drive in the adoption of blockchain technology. For instance, Centrica, the United Kingdomâs largest supplier of residential energy has partnered with LO3 Energy to initiate a pilot peer-to-peer renewable energy trading program to mitigate the impacts of renewable energy curtailment. All these factors have been instrumental in driving the market for blockchain in the energy sector in the country.
Key Developments in Blockchain Market In The Energy Sector
– May 2018 – Amazon announced its partnership with Kaleido, a start-up company aimed at offering blockchain-as-a-service (BaaS) to its AWS business customers. This partnership is aimed at strengthening the companyâs position in the blockchain technology market.
Major players: AMAZON WEB SERVICES, INC., IBM CORPORATION, MICROSOFT CORPORATION, SAP SE, RIPPLE LABS INC., CAPGEMINI SE, CHAIN, INC., EARTHPORT PLC, BITFURY USA INC., BTL GROUP and ALPHAPOINT CORPORATION, amongst others.
Global Blockchain Market Segmentation by Types, By Applications and by Region:
Global Blockchain market is analyses and market size information is provided by regions (countries). Segment by Application, the Blockchain market is segmented into United States, Europe, China, Japan, Southeast Asia, India and Rest of World. The report includes region-wise market size for the period 2021-2023. It also includes market size and forecast by players, by Type, and by Application segment in terms of sales and revenue for the period 2021-2023.
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Blockchain Market Segment by Region:
● North America [U.S., Canada, Mexico] ● Europe [Germany, UK, France, Russia, Italy, Rest of Europe] ● Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific] ● South America [Brazil, Argentina, Rest of South America] ● Middle East and Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]
Reasons to Purchase this Report:
● The report analyses how the stringent emission control norms will drive the global Blockchain market. ● Analyzing various perspectives of the market with the help of Porter’s five forces analysis. ● Study on the product type that is expected to dominate the market. ● Study on the regions that are expected to witness fastest growth during the forecast period. ● Identify the latest developments, market shares and strategies employed by the major market players. ● 3 months analyst support along with the Market Estimate sheet (in excel). ● Identify the current and future prospects of the global marine composite market in the developed and emerging markets ● Information of the segment that is expected to dominate the market ● Identify the region that is expected to witness fastest growth during the forecast period
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Major Points from Table of Contents:
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Blockchain Market In The Energy Sector Research Approach and Methodology
3. Executive Summary
4. Blockchain Market In The Energy Sector Dynamics
4.1 Blockchain Market In The Energy Sector Overview
4.2 Factors Driving the Blockchain Market In The Energy Sector
4.2.1 Emergence of Variable Electricity Rates
4.2.2 Need for Peer-to-Peer Energy Trading Platforms to Grow Economic Potential of Countries
4.2.3 Aggressive Spending by Venture Capitalists
4.2.4 Success of Bitcoin
4.3 Factors Challenging the Blockchain Market In The Energy Sector
4.3.1 Lack of a Regulatory Framework
4.3.2 Presence of Open Source Platforms
4.4 Industry Attractiveness â Porterâs Five Forces
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute products or services
4.4.5 Competitive Rivalry Among Existing Competitors
5. Notable Blockchain Associations and their role in the Blockchain Environment
6. Case Studies of the Energy Blockchain
7. List of Licensed Cryptocurrencies Country-Wise
8. Global Blockchain Market in Energy Sector – Segmented by Application
8.2 Smart Contracts
8.3 Digital Identities
8.4 Governance, Risk, and Compliance Management
9. Global Blockchain Market in Energy Sector – Segmented by Geography
9.1 North America
9.4 Latin America
10. Competitive Landscape – Key Vendor Profiles
10.1 Amazon Web Services, Inc.
10.2 IBM Corporation
10.3 Microsoft Corporation
10.4 SAP SE
10.5 Ripple Labs Inc.
10.6 Capgemini SE
10.7 Chain, Inc.
10.8 Earthport PLC
10.9 Bitfury USA Inc.
10.10 BTL Group
10.11 Alphapoint Corporation
11. Emerging Players and Start-ups
11.3 LO3 Energy
11.4 Power Ledger
*List not Exhaustive
12. Blockchain Market In The Energy Sector Investment Analysis
13. Future Outlook
. . . Continued
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To view the original version on The Express Wire visit Blockchain Market Growth 2021-Global Industry Size, Analysis, Share, Trends, Market Demand, Growth, Opportunities and Forecast 2023
The MarketWatch News Department was not involved in the creation of this content.