Blockchain as a service (BaaS) is a service that gives consumers the opportunity to use cloud-based solutions in order to create, host and use their own Blockchain apps. The service boosts the business-wide blockchain adoption. The cloud service provider supports all infrastructure response and operation operations. Blockchain cloud-based services improve the adoption of blockchain technology through industry. Backchain as a service (BaaS) term is similar to software as a service (SaaS). Small and medium-sized enterprises tend to embrace the blockchain of technology. However, its dynamics and operational problems, such as the design and synchronization of the infrastructure, are difficult to solve. However, the global blockchain as a service sector may be hindered by factors such as the lack of qualified practitioners or skills. Banking, financial services, media, retail, among other things, use blockchain as a service to minimize fraud and improve operational transparency. However, the sector could be confronted with the challenges. Scalability of the device, privacy issues.
The aim of the report is to estimate the size of the market for Blockchain-as-a-Service and the future growth potential of the market for Blockchain-as-a-Service across various segments, such as base service type, Deployment and industry vertical industry. The base year considered for the analysis is 2019 and from 2020 to 2028 the market size is estimated.
The adoption of Blockchain-as-a-Service (BaaS) markets is increasing as it allow organizations to focus on their core jobs instead of time-losses in the establishment of infrastructure. Providers have begun to supply BaaS to regions such as North America or Asia Pacific. Technology is of interest to major banks and insurance companies. These are the primary industries that use blockchain technologies. Bitcoin is a cryptocurrency, a blockchain technology. A number of other sectors, from banking to social media, have embraced this technology as Blockchain uses Distributed Ledge Technology to reduce the risk of fraud and increase the transparency of all banking transactions (DLT). The banking sector therefore sees a better implementation of blockchain technology.
The North American region followed by Europe is expected to continue as the largest revenue-generating region for Blockchain as a Service vendors. The key reason is that progress in research and development (R&D) and technology is heavily focused in the developed economies of the United States and Canada. Although APAC is projected to be the fastest growing area in the Blockchain service sector due to the progressive adoption of blockchain technology.
Blockchain-as-a-Service Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 27266.5 Million|
|Growth Rate||CAGR of 71.2% during 2021-2028|
|Segment Covered||By Component, By Business Application, By Vertical, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Huawei Technologies Co. Ltd, Amazon Web Services, Oracle Corporation, Baidu, Waves Platform, Hewlett Packard Enterprise, IBM, SAP, Stratis, and Microsoft.|
Key Segments of the Global Blockchain-as-a-Service Market
Component Overview, 2018-2028 (USD Million)
Application Overview, 2018-2028 (USD Million)
- Supply Chain Management
- Identity Management
- Smart Contracts
- Governance, Risk, and Compliance Management (GRC)
- Others (trade finance and data storage)
Industry Vertical Overview, 2018-2028 (USD Million)
- Healthcare and Life Sciences
- Retail and eCommerce
- Telecom and IT
- Energy and Utilities
Important Companies in Global Blockchain-as-a-Service market
- IBM Corporation
- Touche Tohmatsu Limited.
- Amazon Web Services
- Microsoft Corporation
- Oracle Corporation
- SAP SE
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of Blockchain-as-a-Service Market Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on Blockchain-as-a-Service Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the field service management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on component, application, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Blockchain-as-a-Service Market. The report will benefit: Every stakeholder involved in the Blockchain-as-a-Service Market.
- Managers within the field service management industry looking to publish recent and forecasted statistics about Blockchain-as-a-Service Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Blockchain-as-a-Service Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.