North America Blockchain Market Forecast to 2028 - COVID-19 Impact and Regional 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 & Logistics, Healthcare, Automotive, Media & Entertainment, and Others)
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)
Get more information on this report :
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
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
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America Blockchain Market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America Blockchain Market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the Blockchain Market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution