Global Movement to Reduce Carbon Footprint Will Upsurge Renewable Energy Demand and Drive the Energy Blockchain Market Growth

Fri, 27 November 2020 5:12

As per the Paris Agreement, the countries globally have intended to reduce carbon footprints and planned new development activities that are in line with the global goals. However, according to the International Renewable Energy Agency, the current national goals fall short of meeting the set targets. This also represents an opportunity for countries to realign their goals and strategies. The increasing finance availability and subsidies will translate into the adoption of renewable energy. Institutional investments from the World Bank and Asian Development banks will further increase the technology penetration of blockchain and increase market demand.

COVID-19 Impact Analysis

The coronavirus pandemic has altered the way the world functions, compelling companies to derive a new way to operate. The energy industry is laden with a myriad of problems, especially with increasing losses and increased nonperforming assets. With the impact of the pandemic, there is a default in payments from industries and the residential sector. With high operating costs, an increased number of intermediaries and obsolete energy meters are creating roadblocks for market growth. This is nudging market players to adopt new technology, such as blockchain, to address the underlining problems.

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The coronavirus pandemic has also had a considerable effect on the nascent cryptocurrency industry. Blockchain technology and cryptocurrency are already dealing with various governmental regulations due to scams and the unchecked, unregulated market. This technology of payments showcases a huge potential in the coming years as they can be translated into mainstream payments assets for many countries, but it is yet to institutionalized, which may cause hindrance in the widespread adoption in the coming years.  

Key Players

  • Microsoft
  • Accenture
  • IBM
  • Infosys
  • SAP
  • LO3 Energy
  • Facebook

Energy Blockchain Market: Segmentation

By Type

  • Public
  • Private

By End-User

  • Power Sector
  • Oil and Gas Sector

By Application

  • Grid Management
  • Energy Trading
  • Government Risk and Compliance Management
  • Payment Schemes
  • Smart metering
  • E-mobility

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany 
  • France
  • Italy
  • The U.K.
  • The Rest of Europe

Asia-Pacific

  • China 
  • India
  • Japan
  • South Korea
  • Australia
  • The Rest of APAC

Central and South America and the Caribbean 

  • Brazil
  • Argentina
  • Colombia
  • The Rest of Central and South America and the Caribbean 

The Middle East

  • Saudi Arabia
  • The UAE
  • Qatar
  • Oman
  • Turkey
  • The Rest of the Middle East

Africa 

  • Nigeria
  • South Africa
  • The Rest of Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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