Blockchain Interoperability Market Share

North American Market Forecast

Blockchain interoperability market in North America region is poised to gather the highest revenue share of over 30% over the coming years. This growth of the market is set to be dominated by growing number of key vendors in the field of blockchain interoperability. Furthermore, the number of COVID-19 patients has significantly increased in the US, Canada, and Mexico and is still increasing. By April 26, 2023, there were over 103 million confirmed and presumed positive cases of COVID-19 in the United States, and over 2 million of these instances resulted in fatalities. Owing to COVID-19 pandemic, blockchain is expected to offer a number of security capabilities, such as decentralization, encryption, and cryptography, to protect patient privacy in the healthcare sector. Demand for e-commerce has increased as a result of the pandemic. Fintech and blockchain technologies are being used by businesses to modernize and streamline their processes.  

APAC Market Analysis

Blockchain interoperability market in Asia Pacific region is also estimated to have notable growth over the forecast period. APAC is renowned for having a diversified blockchain environment, with China, Japan, Singapore, and South Korea being hubs for blockchain innovation. Additionally, the investment in smart cities innovation is also growing which is further estimated to dominate the market expansion in this region. Moreover, the blockchain interoperability industry is anticipated to increase substantially as long as the Asia-Pacific region keeps funding research and development. Additionally, this sector in this region is also expected to increase significantly due to rising investments and the number of blockchain businesses.