What is Private Blockchain Technology in Energy?
Blockchain technology is an advanced distributed ledger technology Private Blockchain Technology is basically invitation only block chain, and can be developed and designed according to specific sectors and specific users such as energy sector. Private Blockchain Technology has huge potential to transform the entire energy sector. It has capabilities to transform the way we carry out energy transactions, manage our energy grids, optimize operations, etc. Energy Crypto Currencies are a new emergence in the energy sector. Block Chain also has capabilities to drive energy sector towards more sustainable practices. Geographically, Europe is expected to be the biggest market with many other countries around the world adopting block chain in their energy sector.
The market study is broken down by Type (Software and Service), by Application (Energy Trading and Transactions, Energy Crypto Currencies, Supply Chain Management, Asset Management and Others) and major geographies with country level break-up.
Block Chain Technology is a next big thing with implications across various sectors, one of them being Energy. Block Chain Technology has capabilities to transform the way energy transactions happen, or the way grid management takes place or to optimise operations and even the emergence of energy crypto currencies.
IBM (United States), Microsoft Corporation (United States), Accenture (Ireland), SAP (Germany), Infosys Limited (India), Oracle Corporation (United States), Power Ledger (Australia), Greeneum (Israel), WePower (Lithuania), EnergiMine (United Kingdom), Grid Singularity (Germany), Grid+ (United States) and The Sun Exchange (South Africa) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Private Blockchain Technology in Energy market by Type, Application and Region.
On the basis of geography, the market of Private Blockchain Technology in Energy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End User , the sub-segment i.e. Oil and Gas Companies will boost the Private Blockchain Technology in Energy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment , the sub-segment i.e. Cloud Based will boost the Private Blockchain Technology in Energy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In 2021, Tata Power, India’s largest integrated power company in collaboration with India Smart Grid Forum and Power Ledger has launched India’s first peer to peer energy trading project in some parts of Northern Delhi. The platform which includes Tata Power Delhi Distribution Limited’s facilities and tata power’s customers. The Block Chain enabled platform can be used by any individual to buy and sell their excess energy to another household or commercial sites.
- Growing Popularity of BaaS (Blockchain as a Service)
- Emergence of Energy Crypto Currencies
- Improved Operational Transparency and Operational Optimization by the Adoption of Private Blockchain Technology
- Growing Adoption of Digitised Solutions such as Block Chain, Cloud Computing, Machine Learning, etc.
- Enhanced Focus on Data Integration
- Integration of Artificial Intelligence and Block Chain Technology
- Lack of Skilled Professional for Handling
- Integration of Regulatory Bodies
- Complexities Involved with Blockchain Technology
Key Target AudiencePrivate Blockchain Technology in Energy Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations and End-Use Industries
About ApproachDuring this study the evaluation and validation of the market size is done through various sources including primary and secondary analysis. AMA Research & Media follows industrial and regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
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