North America Blockchain Market Outlook 2027

Blockchain is a growing list of record which is contained into block type of structure. Basically block is a bunch of information which is implanted into Blockchain technology. Piercing records in the Blockchain system creates a block which is connected to the previous block. This feature makes a chain type of structure. That is why it is known as Blockchain. Important advantage of this feature is that registered data is immutable. Once the data is entered, it cannot be replaced or altered without collision of other blocks. If someone tries to temper with information, it is difficult to do without altering all the subsequent blocks which turns out to be impossible. Blockchain acts on peer-to-peer (P2P) network. That means all the recorded information are not stored at any particular position, Blockchain allocates data to various different locations all over the world. This attribute directs towards the security of the information. In 2008, Blockchain technology came into light by a person (or group of people) using a name Satoshi Nakamoto. This technology was introduced as a part of bitcoin crytocurrency.

According to the research report North America Blockchain Market Outlook, 2027 the North America Blockchain market is forecasted to have CAGR of 50.31% by 2027. By the country, North America region is segmented into three major countries which are United States, Canada and Mexico. The United States of America is expected to acquire more market share in North America region. Major Blockchain development companies present in United States of America are constantly working in various services including Blockchain Artificial intelligence, Cloud services and internet of things (IOT). They contribute to focus on presenting faster and secured Blockchain application. In USA, Blockchain technology is raising high with a vision of reshaping the business processes across a wide range of industries. The demand of Blockchain technology is increasing due to simplified business processes are in need of immutability, security and transparency for their data. To target mass audience in order to spread awareness about the Blockchain technology, government arranges ‘ Blockchain Expo’ worldwide. North America plays an important role in the Expo. Blockchain Expo is a technology conference and event which includes series of top-level keynotes, solution base case studies and interactive panel discussions. Blockchain Expo is an important factor in order to explore more industries like legal sectors, financial services, insurance, energy, entertainment, government, real estate and more.

The report directs attention towards the point that Blockchain’s raising popularity is because of the industry or enterprises’ need for Blockchain as a service to maintain business processes. According to the study, small & medium enterprises (SMEs) prefer software-as-a-service solutions to protect their digital assets as well as to validate human identities. Blockchain-as-a-service is a cloud-based infrastructure which helps enterprises to design and operate their own Blockchain applications. The growing concern over data security can be a driving factor for Blockchain technology in forecast period. The technological demands, clearing and settlements, digital identity verification are some of the essential factors which are expected to fuel the future growth of Blockchain technology. There has been raising investments into Blockchain technology in North America region. In the past few years, a large number of Blockchain technology development projects were introduced in the United States of America. The North America Blockchain Association (NABA) focuses to initiate, organize, connect and facilitate Blockchain technology initiatives across the whole region. They approach the participants to explore new forms of leadership and collaboration in Blockchain technology.

Covid-19 pandemic has been the biggest disrupter of the 21st century. Pandemic situations resulted into changing lives of people in a short time and halting the economy processes. There has been rapid shift towards online payments and cryptocurrency development. The supply chain system has been tremendously affected due to virus as goods were failing to transport. Filed transportation was due to various lockdown phases and travel restrictions imposed by the government. Across the world, with corona virus pandemic not going to end soon business firms need to rapidly accept the usage of Blockchain technology and cryptocurrencies in their daily operation. That can be a boosting factor for Blockchain technology in North America Blockchain market.

Major Companies present in the market:

IBM Corporation, Amazon Web Services, Sap SE, Intel Corporation, Oracle Corporation, Huawei Technologies Co. LTD, ACCENTURE PLC, WIPRO Limited, Microsoft Corporation, Blockstream Inc., DeloitteTouche Tohmatsu Limited, PayStand Inc., Applied Blockchain Limited.

Considered in this report

• Geography: North America
• Historic Year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report

• North America Blockchain market with its value and forecast along with its segments
• Country wise Blockchain market analysis
• Segment wise Blockchain Market
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report

• United States
• Canada
• Mexico

By Types of Blockchain in the report:

• Public
• Private
• Hybrid

By Provider type in the report:

• Infrastructure
• Application & Solution
• Middleware

By Enterprise in the report:

• Large Enterprise
• Small & Medium Enterprises

By Application in the report:

• Banking & Financial Services
• Government
• Healthcare
• Media & Entertainment
• Retail and Ecommerce
• Transportation & Logistics
• Energy and Utilities
• Others (Insurance, Manufacturing, Travel, It & Telecom, etc.,)

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning. Post this we have started doing primary calls to industry people by equally segmenting in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, Key and innovative vendors related to Blockchain industry. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.