North America Blockchain Market - Industry Analysis, Growth, Demand, Share, & Forecast To 2027

Blockchain is a growing list of records that are contained in a block type of structure. Block is a bunch of information that 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. An essential advantage of this feature is that registered data is immutable. Once the data is entered, it cannot be replaced or altered without colliding with other blocks. If someone tries to temper information, it is difficult to do without changing all the subsequent blocks, which is impossible. Blockchain acts on a peer-to-peer (P2P) network. That means all the recorded information is not stored in any particular position. Blockchain allocates data to various locations all over the world. This attribute directs toward the security of the information. In 2008, Blockchain technology came to light by a person (or group of people) using Satoshi Nakamoto. This technology was introduced as a part of the bitcoin cryptocurrency. 
 
According to the research report "North America Blockchain Market Outlook, 2027," published by Actual Market Research, the North America Blockchain market is forecasted to have a CAGR of 50.31% by 2027. The North American region is segmented into three major countries: the United States, Canada, and Mexico. The United States of America is expected to acquire more market share in the North American region. Major Blockchain development companies present in the United States of America are constantly working on various services, including Blockchain Artificial intelligence, Cloud services, and the internet of things (IoT). They contribute to focusing on presenting faster and more secure Blockchain applications. Blockchain technology is rising in the USA with a vision of reshaping business processes across various industries. The demand for Blockchain technology is increasing because simplified business processes need immutability, security, and transparency for their data. To target a mass audience to spread awareness about Blockchain technology, the government arranges a 'Blockchain Expo' worldwide. North America plays a vital role in the Expo. Blockchain Expo is a technology conference and event which includes a series of top-level keynotes, solution base case studies, and interactive panel discussions. Blockchain Expo is essential to explore more industries like legal sectors, financial services, insurance, energy, entertainment, government, real estate, and more. 
 
The report directs attention toward the point that Blockchain's rising 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 and validate human identities. Blockchain-as-a-service is a cloud-based infrastructure that helps enterprises to design and operate their Blockchain applications. The growing concern over data security can be a driving factor for Blockchain technology in the forecast period. The technological demands, clearing and settlements, and digital identity verification are some of the essential elements which are expected to fuel the future growth of Blockchain technology. There have been rising investments into Blockchain technology in North America region. In the past few years, many Blockchain technology development projects were introduced in the United States of America. The North America Blockchain Association (NABA) focuses on initiating, organizing, connecting and facilitating Blockchain technology initiatives across the region. They approach the participants to explore new forms of leadership and collaboration in Blockchain technology. 
 
The covid-19 pandemic has been the biggest disrupter of the 21st century. Pandemic situations resulted in changing the lives of people in a short time and halting the economic processes. There has been a rapid shift towards online payments and cryptocurrency development. The supply chain system has been tremendously affected due to the virus as goods failed to transport. Filed transportation was due to various lockdown phases and travel restrictions imposed by the government. Across the world, with the coronavirus 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 American 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.