Global Blockchain in Energy Market: Overview
The energy industry has remained at the forefront when it comes to the adoption of new technologies in all possible areas. However, when it comes to blockchain technology, which translates to a public ledger maintained for recording transactions in its simplest form, the industry has been slow in recognizing the true potential of the technology in terms of improved speed of transactions and reduction of overall costs of operations. However, a number of companies are increasingly recognizing the vast benefits of the technology and are making conscious efforts to implement the technology, especially as the sector becomes increasingly connected and decentralized.
This report presents an account of the past and present growth dynamics of the global blockchain in energy market. The report discusses key factors driving the adoption of blockchain technologies in the energy sector along with challenges faced by key players in the industry. It also discusses the global trends that are impacting the industry and scope of market growth in the future.
Global Blockchain in Energy Market: Trends and Opportunities
It is estimated that the global blockchain in energy market will expand at an impressive pace in the next few years. A number of factors are considered to be of utmost importance in bringing about this change, including technological advancements in the field of renewable power production and battery storage. In the past few years, the costs of solar panels have fallen by nearly 80% and more economical and efficient products are being introduced in the global market every passing day. Advancements in battery technologies are allowing households to store power for load shifting or back up, meaning that the general population has greater flexibility to purchase and store power when the costs […]