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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.
This report contains market size and forecasts of Blockchain in Oil & Gas in Global, including the following market information:
Global Blockchain in Oil & Gas Market Size 2023-2028, ($ millions)
The global Blockchain in Oil & Gas market is projected to reach US$ million by 2028.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Blockchain in Oil & Gas companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:

• Reduce Cash Cycle Time
• Increase Transaction Visibility
• Reduce Overhead & Number of Cost Intermediates

• Oil and Gas Companies
• Energy and Utilities
• Other

• United States
• Europe
• Asia
• China
• Rest of World

• IBM
• Accenture
• SAP
• Microsoft
• Infosys
• HCL Technologies
• Ondiflo
• EY