PUBLISHER: KBV Research | PRODUCT CODE: 1276742
PUBLISHER: KBV Research | PRODUCT CODE: 1276742
North America Blockchain in Insurance Market Size, Share & Industry Trends Analysis Report By Enterprise Size (Large Enterprises and Small & Medium-sized Enterprises), By Component, By Application, By Country and Growth Forecast, 2023 - 2029
The North America Blockchain in Insurance Market would witness market growth of 50.0% CAGR during the forecast period (2023-2029).
A distributed register called a blockchain uses a consensus-based system to verify the legitimacy of transactions and maintain static records or dynamic transaction data without the need for centralized management. By enabling them to digitally track and manage physical data, blockchain in the insurance sector aims to defend against fraud in automated transactions. In addition, customers and insurers can develop smart contracts using blockchain technology to handle claims quickly and transparently.
The development of the blockchain in the insurance market is being fueled by the usage of highly advanced technological software platforms. Over time, the implementation of technology by the insurance industry has increased significantly, supporting the market's growth. Additionally, AR tutorials and games that are based on apps can be useful marketing tools that help collect customer insights and lower training costs by improving the learning experience.
Taxes finance the universal healthcare system in Canada. As a result, anyone citizen or lawful permanent resident of Canada may apply for public health insurance. While Medicare covers all necessary healthcare costs for all citizens, some employers provide private supplemental health insurance as a perk to entice top talent. Packaged insurance plans in Canada are becoming increasingly popular since they offer a single plan covering death, medical, disability, accident, death, and dismemberment. Customers now feel a greater need to obtain health insurance to access better healthcare and medical facilities due to the pandemic, as it caused a sharp rise in hospital admissions. As a result, health insurance claims have significantly increased.
The US market dominated the North America Blockchain in Insurance Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $3,043.3 Million by 2029. The Canada market is poised to grow at a CAGR of 52.9% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 52.5% during (2023 - 2029).
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises. Based on Component, the market is segmented into Solution and Services. Based on Application, the market is segmented into Identity Management & Fraud Detection, Claims Management, Payments, GRC Management and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc. (Amazon.com, Inc.), Microsoft Corporation, Oracle Corporation, IBM Corporation, RecordsKeeper, Symbiont, Xceedance, Auxesis Services & Technologies (P) Ltd., Cornerstone Insurance Brokers Ltd. (SafeShare) and ConsenSys Software Inc.
Scope of the Study
Market Segments covered in the Report:
By Enterprise Size
- Large Enterprises
- Small & Medium-sized Enterprises
By Component
- Solution
- Services
By Application
- Identity Management & Fraud Detection
- Claims Management
- Payments
- GRC Management
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Companies Profiled
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Microsoft Corporation
- Oracle Corporation
- IBM Corporation
- RecordsKeeper
- Symbiont
- Xceedance
- Auxesis Services & Technologies (P) Ltd.
- Cornerstone Insurance Brokers Ltd. (SafeShare)
- ConsenSys Software Inc.
Unique Offerings from KBV Research
- Exhaustive coverage
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Blockchain in Insurance Market, by Enterprise Size
- 1.4.2 North America Blockchain in Insurance Market, by Component
- 1.4.3 North America Blockchain in Insurance Market, by Application
- 1.4.4 North America Blockchain in Insurance Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market Overview
- 2.1 Introduction
- 2.1.1 Overview
- 2.1.1.1 Market composition & scenario
- 2.1.1 Overview
- 2.2 Key Factors Impacting the Market
- 2.2.1 Market Drivers
- 2.2.2 Market Restraints
Chapter 3. North America Blockchain in Insurance Market by Enterprise Size
- 3.1 North America Large Enterprises Market by Country
- 3.2 North America Small & Medium-sized Enterprises Market by Country
Chapter 4. North America Blockchain in Insurance Market by Component
- 4.1 North America Solution Market by Country
- 4.2 North America Services Market by Country
Chapter 5. North America Blockchain in Insurance Market by Application
- 5.1 North America Identity Management & Fraud Detection Market by Country
- 5.2 North America Claims Management Market by Country
- 5.3 North America Payments Market by Country
- 5.4 North America GRC Management Market by Country
- 5.5 North America Others Market by Country
Chapter 6. North America Blockchain in Insurance Market by Country
- 6.1 US Blockchain in Insurance Market
- 6.1.1 US Blockchain in Insurance Market by Enterprise Size
- 6.1.2 US Blockchain in Insurance Market by Component
- 6.1.3 US Blockchain in Insurance Market by Application
- 6.2 Canada Blockchain in Insurance Market
- 6.2.1 Canada Blockchain in Insurance Market by Enterprise Size
- 6.2.2 Canada Blockchain in Insurance Market by Component
- 6.2.3 Canada Blockchain in Insurance Market by Application
- 6.3 Mexico Blockchain in Insurance Market
- 6.3.1 Mexico Blockchain in Insurance Market by Enterprise Size
- 6.3.2 Mexico Blockchain in Insurance Market by Component
- 6.3.3 Mexico Blockchain in Insurance Market by Application
- 6.4 Rest of North America Blockchain in Insurance Market
- 6.4.1 Rest of North America Blockchain in Insurance Market by Enterprise Size
- 6.4.2 Rest of North America Blockchain in Insurance Market by Component
- 6.4.3 Rest of North America Blockchain in Insurance Market by Application
Chapter 7. Company Profiles
- 7.1 Amazon Web Services, Inc. (Amazon.com, Inc.)
- 7.1.1 Company Overview
- 7.1.2 Financial Analysis
- 7.1.3 Segmental Analysis
- 7.1.4 Recent strategies and developments:
- 7.1.4.1 Product Launches and Product Expansions:
- 7.1.5 SWOT Analysis
- 7.2 Microsoft Corporation
- 7.2.1 Company Overview
- 7.2.2 Financial Analysis
- 7.2.3 Segmental and Regional Analysis
- 7.2.4 Research & Development Expenses
- 7.2.5 Recent strategies and developments:
- 7.2.5.1 Partnerships, Collaborations, and Agreements:
- 7.2.6 SWOT Analysis
- 7.3 Oracle Corporation
- 7.3.1 Company Overview
- 7.3.2 Financial Analysis
- 7.3.3 Segmental and Regional Analysis
- 7.3.4 Research & Development Expense
- 7.3.5 Recent strategies and developments:
- 7.3.5.1 Partnerships, Collaborations, and Agreements:
- 7.3.6 SWOT Analysis
- 7.4 IBM Corporation
- 7.4.1 Company Overview
- 7.4.2 Financial Analysis
- 7.4.3 Regional & Segmental Analysis
- 7.4.4 Research & Development Expenses
- 7.4.5 SWOT Analysis
- 7.5 RecordsKeeper
- 7.5.1 Company Overview
- 7.6 Symbiont
- 7.6.1 Company Overview
- 7.7 Xceedance
- 7.7.1 Company Overview
- 7.7.2 Recent strategies and developments:
- 7.7.2.1 Product Launches and Product Expansions:
- 7.8 Auxesis Services & Technologies (P) Ltd.
- 7.8.1 Company Overview
- 7.9 Cornerstone Insurance Brokers Ltd. (SafeShare)
- 7.9.1 Company Overview
- 7.10. ConsenSys Software Inc.
- 7.10.1 Company Overview
- 7.10.2 Recent strategies and developments:
- 7.10.2.1 Acquisition and Mergers:
LIST OF TABLES
- TABLE 1 North America Blockchain in Insurance Market, 2019 - 2022, USD Million
- TABLE 2 North America Blockchain in Insurance Market, 2023 - 2029, USD Million
- TABLE 3 North America Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
- TABLE 4 North America Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
- TABLE 5 North America Large Enterprises Market by Country, 2019 - 2022, USD Million
- TABLE 6 North America Large Enterprises Market by Country, 2023 - 2029, USD Million
- TABLE 7 North America Small & Medium-sized Enterprises Market by Country, 2019 - 2022, USD Million
- TABLE 8 North America Small & Medium-sized Enterprises Market by Country, 2023 - 2029, USD Million
- TABLE 9 North America Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
- TABLE 10 North America Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
- TABLE 11 North America Solution Market by Country, 2019 - 2022, USD Million
- TABLE 12 North America Solution Market by Country, 2023 - 2029, USD Million
- TABLE 13 North America Services Market by Country, 2019 - 2022, USD Million
- TABLE 14 North America Services Market by Country, 2023 - 2029, USD Million
- TABLE 15 North America Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
- TABLE 16 North America Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
- TABLE 17 North America Identity Management & Fraud Detection Market by Country, 2019 - 2022, USD Million
- TABLE 18 North America Identity Management & Fraud Detection Market by Country, 2023 - 2029, USD Million
- TABLE 19 North America Claims Management Market by Country, 2019 - 2022, USD Million
- TABLE 20 North America Claims Management Market by Country, 2023 - 2029, USD Million
- TABLE 21 North America Payments Market by Country, 2019 - 2022, USD Million
- TABLE 22 North America Payments Market by Country, 2023 - 2029, USD Million
- TABLE 23 North America GRC Management Market by Country, 2019 - 2022, USD Million
- TABLE 24 North America GRC Management Market by Country, 2023 - 2029, USD Million
- TABLE 25 North America Others Market by Country, 2019 - 2022, USD Million
- TABLE 26 North America Others Market by Country, 2023 - 2029, USD Million
- TABLE 27 North America Blockchain in Insurance Market by Country, 2019 - 2022, USD Million
- TABLE 28 North America Blockchain in Insurance Market by Country, 2023 - 2029, USD Million
- TABLE 29 US Blockchain in Insurance Market, 2019 - 2022, USD Million
- TABLE 30 US Blockchain in Insurance Market, 2023 - 2029, USD Million
- TABLE 31 US Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
- TABLE 32 US Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
- TABLE 33 US Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
- TABLE 34 US Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
- TABLE 35 US Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
- TABLE 36 US Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
- TABLE 37 Canada Blockchain in Insurance Market, 2019 - 2022, USD Million
- TABLE 38 Canada Blockchain in Insurance Market, 2023 - 2029, USD Million
- TABLE 39 Canada Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
- TABLE 40 Canada Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
- TABLE 41 Canada Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
- TABLE 42 Canada Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
- TABLE 43 Canada Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
- TABLE 44 Canada Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
- TABLE 45 Mexico Blockchain in Insurance Market, 2019 - 2022, USD Million
- TABLE 46 Mexico Blockchain in Insurance Market, 2023 - 2029, USD Million
- TABLE 47 Mexico Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
- TABLE 48 Mexico Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
- TABLE 49 Mexico Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
- TABLE 50 Mexico Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
- TABLE 51 Mexico Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
- TABLE 52 Mexico Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
- TABLE 53 Rest of North America Blockchain in Insurance Market, 2019 - 2022, USD Million
- TABLE 54 Rest of North America Blockchain in Insurance Market, 2023 - 2029, USD Million
- TABLE 55 Rest of North America Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
- TABLE 56 Rest of North America Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
- TABLE 57 Rest of North America Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
- TABLE 58 Rest of North America Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
- TABLE 59 Rest of North America Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
- TABLE 60 Rest of North America Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
- TABLE 61 Key Information - Amazon Web Services, Inc.
- TABLE 62 key information - Microsoft Corporation
- TABLE 63 Key Information - Oracle Corporation
- TABLE 64 Key information - IBM Corporation
- TABLE 65 Key Information - RecordsKeeper
- TABLE 66 Key Information - Symbiont
- TABLE 67 Key Information - Xceedance
- TABLE 68 Key Information - Auxesis Services & Technologies (P) Ltd.
- TABLE 69 Key Information - Cornerstone Insurance Brokers Ltd.
- TABLE 70 Key Information - ConsenSys Software Inc.
List of Figures
- FIG 1 Methodology for the research
- FIG 2 SWOT analysis: Amazon.com, Inc.
- FIG 3 SWOT Analysis: Microsoft Corporation
- FIG 4 SWOT analysis: Oracle Corporation
- FIG 5 Swot analysis: IBM Corporation
