Sans Francisco, California, November 06, 2018: The global market for blockchain in energy market is likely to pick a momentum during the forecast period 2018 – 2028, owing to extensive growth in the renewable power production in recent years. It has been duly noted that the energy sector has always adopted latest technology available in the market, however, in case of blockchain technology, energy industry has been hesitant failing to understand the real potential of the technology. The industry was unable to understand the speed at which the technology can help with transactions. However, TMR Research notices that several companies are acknowledging numerous benefits associated by implementing the technology. TMR Research published a report titled, “Blockchain in Energy Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2028”, which provides 360 degree overview of the market. The report offers market dynamics, sales channel, market share, opportunity, and restraints.
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Technological advancements in the field of renewable production of energy is considered to be one of the major pillar lifting up the global market. Improved battery storage to store renewable energy is expected to aid the market to grow. The demand for green energy owing to rise in carbon emission along with rising awareness among people regarding the harmful effects caused by various air pollutants emitted from power generators are expected to boost the global market. Descending price of solar panels have further helped the market to grow. Surge in uptake of smart meters accompanied with perennial development of response measures have further fostered the uptake of renewable energy. This has bolstered the demnd in market. However, it has been noticed that suppliers of raw material need for building blockchain technologies are limited. This has resulted in gradual rise in cost of the raw materials. This factor is anticipated to deter the growth of market. Nonetheless, players in the market are focusing in innovation to fetch a low-cost solutions.
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