The universal Blockchain in Oil & Gas market was valued at xxx million USD with a CAGR xx% from 2015-2019. Subsequently, it will touch xxx million USD in 2020 with a CAGR xx % from 2020 to 2025.
Blockchain is a distributed ledger technology that operates on peer-to-peer networks to facilitate transaction processing while reducing redundancies arising out of duplication, mismatching, and other accounting errors. The oil and gas industry has traditionally relied on paper-based transaction processing that is error-prone and bound to create inefficiencies leading to operational losses. Oil and gas companies have started adapting blockchain technology to suit their business workflow requirements in order to improve efficiency and target lower operational costs.
In the global Blockchain in Oil & Gas market, This report focuses particularly in North America, South America, Europe and Asia-Pacific, and Middle East and Africa. This report classifies the market on the basis of application, type, regions, and manufactures.
In market segmentation by manufacturers, the report covers the following companies-
IBM
Accenture
SAP
Microsoft
Infosys
HCL Technologies
Ondiflo
EY
In market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
In market segmentation by types :
Reduce Cash Cycle Time
Increase Transaction Visibility
In market segmentation by applications :
Oil and Gas Companies
Energy and Utilities
Other
The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the Blockchain in Oil & Gas market for the forecast period 2020 - 2025?
• What are the driving forces in the Blockchain in Oil & Gas market for the forecast period 2020 - 2025?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the Blockchain in Oil & Gas industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?