Quadintel published a new report on the North America Blockchain Technology Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
Blockchain technology is used to record Bitcoin transactions via a global network of computer. It is a continuous growing list of blocks (record) that are linked and secured using cryptography. Each new block created is connected to the previous block via a cryptographic Hash. North America holds the most significant share in the Blockchain technology market. The North America blockchain market is expected to grow at a CAGR of 44% (2018-2023) and generate a revenue of USD 9.51 Bn by 2023. North American companies have made huge investment in blockchain technology during 2016-2017.
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Based on Industries, Banking and financial services led the North America Blockchain technology market in 2017. More than half of U.S. banks are exploring blockchain technology in the field of payments to ease the cross-border payments. The adoption of Blockchain technology in Banking and Financial services improves performance and productivity of the bank and reduces operational cost, hence contributing to the growth of the sector. The BFS sector is forecasted to witness the highest CAGR, followed by the Insurance sector. The demand to automate the claim process and reduce paper is expected to drive Blockchain application in the Insurance market.
Based on the country-wise analysis, US holds the most significant share of the market because of digitalization and early adoption of the Blockchain technology. Canada is expected to witness the highest CAGR.
Key growth factors:
o North America accounts for the largest number of financial transactions. So, here lies an increased threat of data mishandling among the organizations. This factor is a major reason for the adoption of the Blockchain technology in this region.
o Governments are loosening the regulations to enable the easy application of Blockchain technologies
Threats and key players:
o The key factor that restrains the market growth is the lack of technical skill.
o The lack of awareness regarding digital payment is restrain the region from adopting the technology
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Whats covered in the report?
o Overview of the North America Blockchain technology market
o The current and forecasted market size data for the North America Blockchain technology market
o The current and forecasted market size data for the segments of the market by industries BFS (Banking and Financial services), Insurance, Supply Chain, Healthcare, others
o Market trends in the North America Blockchain technology market
o Market drivers and challenges in North America Blockchain technology market
o Current and forecasted regional (US (United States), Canada) market size data for North America Blockchain technology market and its segments
o Analysis of company profiles of major players operating in the market
o Get a broad understanding of the North America Blockchain technology market and its segments- by type and by industries
o Get region-specific drivers and challenges affecting the North America Blockchain technology market
o Recognize significant competitors’ business and market dynamics, and respond accordingly
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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Table of Contents:
- Market Overview
- Market Definition and Scope
- Market Dynamics
- Market Industry Analysis
- Market, Regional Analysis
- Analysis of Leading Companies
- Competitive Intelligence
- Research Process
- Market Analysis and Forecast, By Product Types
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