North America Blockchain Technology Market will Likely Experience Growth with Adoption in BFSI Sector


Published on : Jul 19, 2018

Albany, New York, July 19, 2018: Rapid adoption of blockchain technology in North American banks and financial institutions has manifested growth in North America blockchain technology market. Further, automation of operations is expected to instill further growth in blockchain technology market of North America. In its recent report addition titled, ‘North America Blockchain Technology Market (2018-2023)’, Market Research Hub (MRH) evaluates the implications of ongoing developments on the growth of North America blockchain technology market.

New Entrants Likely to Kindle Innovation in North America Blockchain Technology Market

To combat competition triggered by new market entrants in North America blockchain technology market, market players are integrating resources to revamp their services besides innovating new ones. Additionally, new market players are gradually penetrating North America blockchain technology market and are banking heavily on research and development activities to differentiate themselves amidst stiff competition in North America blockchain technology market.

Ripple, a debutant in North America blockchain technology market aspires to establish a strong foothold in the market with a partnership with Fleetcor, to analyze the efficacy of Ripple's xRapid offerings that runs on XRP cryptocurrency. Cambridge Global Payments, a financial consultant in Canada is also a chief participant in the study.

Additionally, a recent report confirmed Ripple's investment of approximately $50 million for enablement of research on blockchain technology, payment systems, and cryptocurrencies. As part of the initiative, the company will aid blockchain research and development for 17 universities across the globe, inclusive of North American universities.  

Further, leading provider of blockchain technologies in healthcare, Hashed Health has entered into a partnership with ODH Inc. The latter is a health technology entity that provides data analytics solutions. The partnership is envisaged to augment bespoke developments in blockchain technology. These innovations will benefit the healthcare sector, besides positioning Hashed Health favorably on the growth chart of North America blockchain technology market.

Banking and Finance Drives Growth

Exhaustive research findings incorporated in the report provides imperative information on market segments besides providing an executive summary of North America blockchain technology market. The report identifies applications as the singular segments prevalent in North America blockchain technology market. Based on applications, the market is segregated as BFS, insurance, supply chain, healthcare and other industries. Account of market segmentation enables readers to identify the segment attributed for maximization of revenues, besides comprehending the impact of segments on holistic growth of of North America blockchain technology market.

US Occupies Largest Market Share in North America Blockchain Technology Market

Also, the report offers a complete summary of regional distribution of of North America blockchain technology market. Based on region, the market is split as the US and Canada. With the aid of report findings, readers can gauge the impact of marketing strategies implemented by core companies in various regions of North America blockchain technology market as well as analyze their corresponding impact on end-user response.

Competition Landscape: North America Blockchain Technology Market

Vital research findings encompassed in the report allow readers to understand the effectiveness of business strategies in influencing end-user preferences and their eventual purchase journey. New and existing market players in North America blockchain technology market can analyze these strategies to decipher core findings. Based on these findings, market players can design profit oriented marketing plans that fetch increased revenues in North America blockchain technology market, besides securing durability. Key players identified in North America blockchain technology market include, Microsoft Corporation, IBM, Accenture, and Capgemini amongst others. Also, the report identifies new players in North America blockchain technology market which include, Ripple and Hashed Health among others. 

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