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 2021, the global Blockchain in Oil & Gas market size will be US$ million and it is expected to reach US$ million by the end of 2027, with a CAGR of % during 2021-2027.
This report focuses on the global Blockchain in Oil & Gas status, future forecast, growth opportunity, key market, and key players. The study objectives are to present the Blockchain in Oil & Gas development in North America, Europe, Japan, China, Southeast Asia, India, etc.

Global Blockchain in Oil & Gas Scope and Market Size
Blockchain in Oil & Gas market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Blockchain in Oil & Gas market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Segment by Type
Reduce Cash Cycle Time
Increase Transaction Visibility
Reduce Overhead & Number of Cost Intermediates

Segment by Application
Oil and Gas Companies
Energy and Utilities
Other

By Region
North America
Europe
Japan
China
Southeast Asia
India

By Company
IBM
Accenture
SAP
Microsoft
Infosys
HCL Technologies
Ondiflo
EY