$3000
$1800
The blockchain market in North America is expected to grow from US$ 2,372.21 million in 2021 to US$ 1,06,793.63 million by 2028; it is estimated to grow at a CAGR of 72.3% from 2021 to 2028.
Post the financial crisis in 2008, Bitcoin and other cryptocurrencies entered the financial sector and gradually gained a lot of prominence. However, with recent developments and uncertainties crowding the cryptocurrency space, its future is unclear. While the future cryptocurrency is still speculative, the underlying technology blockchain has emerged as a prime technology with huge potential to open many opportunities across various industries. The popularity of Blockchain is growing at an exponential rate with successful use cases in various industries, ranging from BFSI to media and entertainment. In terms of technology adoption and use cases, the BFSI industry is leading the market. Blockchain solutions are being implemented in payments, remittances, identity management, fund processing, dispute management, risk management, and many other applications. The BFSI sector has been held back due to limitations and obsolete aspects of the mainframe computing technology; however, with the BFSI industry moving into the advanced age of real-time transaction processing, Blockchain is a principal facilitating technology. This technology has become progressively attractive to the BFSI sector for its tamper-proof ledger. With big market players such as IBM, Accenture, and Microsoft, more and more blockchain solutions are being implemented across major banks and insurance companies. When it comes to blockchain solution providers, IBM holds a prominent place in the market. The company provides a blockchain platform for various industries. For instance, with the help of IBM's Blockchain platform, banks can create secure, low-cost, and high-volume cross-border payments. There are numerous examples of the successful implementation of Blockchain in the BFSI sector. With an increasing number of well-established market players and startups entering the BFSI blockchain market, it is expected that the BFSI segment will drive the North America blockchain market during the forecast period.
The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 patients. Blockchain is projected to provide numerous security features, including decentralization, encryption, and cryptography, to safeguard healthcare industry privacy following the emergence of the COVID-19 pandemic. The pandemic has resulted in a surge in e-commerce demand. Businesses are using fintech and blockchain technologies to streamline and modernize their operations. This could lead to a rise in the number of companies offering contactless transactions and revamped financial services. The pharmaceutical business is likely to benefit from blockchain. The technique helped overcome the logistical difficulties of administering a COVID-19 vaccination. Blockchain is being utilized to ensure correct distribution of the COVID-19 vaccines and keep a record of vaccine maintenance and storage.
North America Blockchain Market Revenue and Forecast to 2028 (US$ Million)
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
North America Blockchain Market Segmentation
North America Blockchain Market – By Component
- Solutions
- Services
North America Blockchain Market – By Application
- Payments
- Exchanges
- Smart Contracts
- Documentation
- Digital Identity
- Governance, Risk and Compliance
- Others
North America Blockchain Market – By Industry Vertical
- BFSI
- Retail
- Government
- Transportation and Logistics
- Healthcare
- Automotive
- Media and Entertainment
- Others
North America Blockchain Market– By Country
- US
- Canada
- Mexico
North America Blockchain Market-Companies Mentioned
- Accenture
- Amazon Web Services
- Bitfury Group Limited
- Hewlett Packard Enterprise Development LP (HPE)
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Oracle Corporation
- Ripple Labs Inc.
- SAP SE
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Blockchain Market – By Component
1.3.2 North America Blockchain Market – By Application
1.3.3 North America Blockchain Market – By Industry Vertical
1.3.4 North America Blockchain Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Blockchain Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Blockchain Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Extensive Adoption of Blockchain Solutions in BFSI Industry Vertical
5.1.2 High Transparency and Operational Efficiency with Substantial Cost Savings
5.1.3 Increase in Innovative Start-ups
5.2 MARKET RESTRAINTS
5.2.1 Data Privacy, Confidentiality, and Security Concerns
5.2.2 Unclear Regulatory Environment
5.2.3 Interoperability, Scalability, and Sustainability Challenges
5.3 MARKET OPPORTUNITIES
5.3.1 Rising Government Support and Initiatives
5.3.2 Increasing Demand for Blockchain-as-a-Service Due to COVID-19 Pandemic
5.4 FUTURE TRENDS
5.4.1 Combination of Blockchain and Artificial Intelligence for Advanced Applications
5.4.2 Application of Blockchain in Vaccine Manufacture and Tracking
5.5 Impact Analysis of Drivers and Restraints
6. Blockchain Market – North America Market Analysis
6.1 North America Blockchain Market Overview
6.2 North America Blockchain Market Forecast and Analysis
7. North America Blockchain Market – By Component
7.1 Overview
7.2 North America Blockchain Market, by Component (2020 and 2028)
7.3 Services
7.3.1 Overview
7.3.2 Services: North America Blockchain Market– Revenue and Forecast to 2028 (US$ Million)
7.4 Solutions
7.4.1 Overview
7.4.2 Solutions: North America Blockchain Market– Revenue and Forecast to 2028 (US$ Million)
8. North America Blockchain Market – By Application
8.1 Overview
8.2 North America Blockchain Market, by Application (2020 and 2028)
8.3 Payments
8.3.1 Overview
8.3.2 Payments: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Exchanges
8.4.1 Overview
8.4.2 Exchanges: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Smart Contracts
8.5.1 Overview
8.5.2 Smart Contracts: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Documentation
8.6.1 Overview
8.6.2 Documentation: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Digital Identity
8.7.1 Overview
8.7.2 Digital Identity: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
8.8 Governance, Risk and Compliance
8.8.1 Overview
8.8.2 Governance, Risk and Compliance: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
8.9 Others
8.9.1 Overview
8.9.2 Others: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Blockchain Market – By Industry Vertical
9.1 Overview
9.2 North America Blockchain Market, by Industry Vertical (2020 and 2028)
9.3 BFSI
9.3.1 Overview
9.3.2 BFSI: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Retail
9.4.1 Overview
9.4.2 Retail: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Government
9.5.1 Overview
9.5.2 Government: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Transportation and Logistics
9.6.1 Overview
9.6.2 Transportation and Logistics: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Healthcare
9.7.1 Overview
9.7.2 Healthcare: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.8 Automotive
9.8.1 Overview
9.8.2 Automotive: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.9 Media and Entertainment
9.9.1 Overview
9.9.2 Media and Entertainment: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
9.10 Others
9.10.1 Overview
9.10.2 Others: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Blockchain Market – Country Analysis
10.1 Overview
10.1.1 North America Blockchain Market Breakdown, by Country
10.1.1.1 US Blockchain Market, Revenue and Forecast to 2028
10.1.1.1.1 US Blockchain Market Breakdown, By Component
10.1.1.1.2 US Blockchain Market Breakdown, By Application
10.1.1.1.3 US Blockchain Market Breakdown, By Industry Vertical
10.1.1.2 Canada Blockchain Market, Revenue and Forecast to 2028
10.1.1.2.1 Canada Blockchain Market Breakdown, By Component
10.1.1.2.2 Canada Blockchain Market Breakdown, By Application
10.1.1.2.3 Canada Blockchain Market Breakdown, By Industry Vertical
10.1.1.3 Mexico Blockchain Market, Revenue and Forecast to 2028
10.1.1.3.1 Mexico Blockchain Market Breakdown, By Component
10.1.1.3.2 Mexico Blockchain Market Breakdown, By Application
10.1.1.3.3 Mexico Blockchain Market Breakdown, By Industry Vertical
11. Impact of COVID-19 on North America Blockchain Market
11.1 Overview
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 IBM Corporation
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Microsoft Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Accenture
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Amazon Web Services
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 SAP SE
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Bitfury Group Limited
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Ripple Labs Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Hewlett Packard Enterprise Development LP (HPE)
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Oracle Corporation
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Intel Corporation
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary
LIST OF TABLES
Table 1. North America Blockchain Market Revenue and Forecast, 2019–2028 (US$ Mn)
Table 2. North America Blockchain Market, Revenue and Forecast to 2028 – By Country (US$ million)
Table 3. US Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 4. US Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 5. US Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 6. Canada Blockchain Market, Revenue and Forecast to 2028 – By Component (US$ million)
Table 7. Canada Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 8. Canada Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 9. Mexico Blockchain Market Breakdown, By Component
Table 10. Mexico Blockchain Market, Revenue and Forecast to 2028 – By Application (US$ million)
Table 11. Mexico Blockchain Market, Revenue and Forecast to 2028 – By Industry Vertical (US$ million)
Table 12. Glossary of Terms, North America Blockchain Market
LIST OF FIGURES
Figure 1. North America Blockchain Market Segmentation
Figure 2. North America Blockchain Market Segmentation – Country
Figure 3. North America Blockchain Market Overview
Figure 4. North America Blockchain Market, By Component
Figure 5. North America Blockchain Market, By Application
Figure 6. North America Blockchain Market, By Industry Vertical
Figure 7. North America Blockchain Market, By Country
Figure 8. North America: PEST Analysis
Figure 9. North America Blockchain Market Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. North America Blockchain Market Impact Analysis of Drivers and Restraints
Figure 12. North America Blockchain Market, Forecast and Analysis (US$ Mn)
Figure 13. North America Blockchain Market Revenue Share, by Component (2020 and 2028)
Figure 14. Services: North America Blockchain Market– Revenue and Forecast to 2028 (US$ Million)
Figure 15. Solutions: North America Blockchain Market– Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Blockchain Market Revenue Share, by Application(2020 and 2028)
Figure 17. Payments: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Exchanges: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Smart Contracts: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Documentation: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Digital Identity: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Governance, Risk, and Compliance: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Others: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. North America Blockchain Market Revenue Share, by Industry Vertical(2020 and 2028)
Figure 25. BFSI: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Retail: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Government: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Transportation and Logistics: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Healthcare: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Automotive: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Media and Entertainment: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Others: North America Blockchain Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. North America Blockchain Market, by key Country Revenue (2020) (US$ million)
Figure 34. North America Blockchain Market Breakdown, by Country, 2020 & 2028 (%)
Figure 35. US Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 36. Canada Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 37. Mexico Blockchain Market, Revenue and Forecast to 2028 (US$ million)
Figure 38. Impact of COVID-19 Pandemic in North American Country Markets
- Accenture
- Amazon Web Services
- Bitfury Group Limited
- Hewlett Packard Enterprise Development LP (HPE)
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Oracle Corporation
- Ripple Labs Inc.
- SAP SE
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to North America Blockchain Market
Mar 2022
Trade Credit Insurance Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Enterprise Size (Large Enterprises and SMEs), Application (International and Domestic), End User (Energy, Automotive, Aerospace, Chemicals, Metals, Agriculture, Food and Beverages, Financial Services, Technology and Telecommunications, Transportation, and Others), and Geography
Mar 2022
Revenue Assurance for BFSI Market
Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: Component (Solution and Services), Deployment (Cloud and On-Premise), Organization Size (Large Enterprises and SMEs), and Geography
Mar 2022
Insurance Third-Party Administrator Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Insurance Type (Healthcare, Retirement Plans, Commercial General Liability Insurers, and Other Insurance Types), End User (Large Enterprises and SMEs), and Geography
Mar 2022
Digital Payment Market
Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solutions and Services), Deployment (On-Premises and Cloud-Based), Organization Size (Small and Medium Enterprises and Large Enterprises), and Industry (BFSI, Retail and Ecommerce, Healthcare, Travel and Hospitality, Media and Entertainment, IT and Telecom, and Others)
Mar 2022
Blockchain Market
Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solutions and Services), Application (Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Governance, Risk and Compliance, and Others), and Industry Vertical (BFSI, Retail, Government, Transportation and Logistics, Healthcare, Automotive, Media and Entertainment, and Others)