Quadintel has published a new report on the North America Blockchain Technology Market. The research report contains detailed information about demand, growth, opportunities, challenges and restraints. Also, it provides an in-depth analysis of the structure and possibility of global and regional industries.
Blockchain technology is used to record Bitcoin transactions through a global network of computers. This is a 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 largest Blockchain technology market share.
The North America Blockchain Market is expected to grow at a CAGR of 44% (2018-2023) and generate USD 9.51 billion in revenue by 2023. North American companies made huge investments in blockchain technology in 2016-2017.
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Based on industries, Banking and financial services led the blockchain technology market in North America in 2017. More than half of US banks are exploring blockchain technology in payments to facilitate cross-border payments. The adoption of Blockchain technology in banking and financial services improves the performance and productivity of the bank and reduces operational costs, thus contributing to the growth of the sector. The BFS sector is expected to experience the highest CAGR, followed by the insurance sector. The demand for automating the claims process and reducing paperwork is expected to drive Blockchain application in the insurance market.
Based on country analysis, the United States holds the largest share of the market due to digitization and early adoption of Blockchain technology. Canada is expected to experience the highest CAGR.
Main growth factors:
o North America represents the largest number of financial transactions. So, therein lies an increased threat of data mismanagement between organizations. This factor is a major reason for the adoption of Blockchain technology in this region.
o Governments relax regulations to allow easy application of Blockchain technologies
Threats and key players:
o The key factor restraining the growth of the market is the lack of technical skills.
o Lack of digital payment awareness prevents the region from adopting the technology
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What is covered in the report?
o Overview of North America Blockchain Technology Market
o Current and forecasted market size data for the North America Blockchain technology market
o Current and forecasted market size data for market segments by sectors BFS (Banking & Financial Services), Insurance, Supply Chain, Healthcare, Others
o Market Trends in the North American Blockchain Technology Market
o Market drivers and challenges in North America Blockchain technology market
o Current and forecast regional market size data (United States (US), Canada) for the North America Blockchain technology market and its segments
o Analysis of company profiles of key players operating in the market
o Gain a broad understanding of the North America Blockchain Technology market and its segments – by Type and by Industries
o Obtain region-specific drivers and challenges affecting the North America Blockchain Technology market
o Recognize the activities and market dynamics of significant competitors and respond accordingly
The report further discusses market opportunities, compound annual growth rate (CAGR), competition, technological innovations, analysis of market players, government directives, export and import analysis (EXIM), historical revenues, future forecasts, etc. in the following regions. and/or country:
North America (US & Canada) Market Size, YOY Growth, Market Player Analysis and Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, annual growth and analysis of market players and opportunity outlook
Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands and Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of (Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, YoY Growth Market Player Analysis and Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, YoY Growth and Market Player Analysis and Outlook opportunities
Middle East & Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East & Africa Market Size, YoY Growth Analysis market players and opportunity outlook
Ask for the complete report description, table of contents, table of figure, graph, etc. @-https://www.quadintel.com/request-sample/north-america-blockchain-technology-market/QI042
- 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 type
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