Blockchain as a service allows the enterprise to use its own blockchain-driven applications and utilities in the cloud services. Blockchain as a service allows businesses, whatever their scale, via cloud as a business service model to take advantage of the advantages of blockchain technology. The adoption of blockchain technology is motivated by rising complexities and by an ever-greater number of SMEs facing operational overheads.
Adroit Market Research study on the global market for Blockchain-as-a-Service offers a holistic view of the industry from 2020 to 2028 as forecast period, including factors such as market drivers, limitations, opportunities, threats and regulatory overview. The market has been analyzed from 2018 to 2028, with a base year estimate of 2019 and a projection from 2020 to 2028. The report covers the current status and potential characteristics of the market at both the global and the country level. Moreover, the report also assesses market competition with Porter's analysis of five strengths and places leading players on the basis of their product range, regional presence, strategic initiatives and overall sales. Prominent players in the global composite resin market have been analyzed in depth.
As the cryptocurrency market grew, many new users became aware of blockchain and cryptocurrency and began exploring it. As a result, blockchain and cryptocurrency users have been growing rapidly. There has been a sharp increase in the bitcoin blockchain sector in recent years. Blockchain is also referred to as trust technology because there is no single flaw and it cannot be modified from a single device. In addition, blockchain allows the use of devices such as "smart contracts," theoretically automating manual processes, from enforcement to handling complaints, to disperse the contents of a will. These are some of the attractive features that make blockchain use easier for the BFSI industry.
Blockchain-as-a-service is great for businesses that outsource their infrastructure aspects and do not understand the blockchain work process. Small and medium-sized enterprises are gaining momentum because of the versatility in the design of transactions and also because security and economic functions help the market. Efficient blockchain services that drive demand for service-by-service block chain services are needed to ensure the identity of digital entities and on-line authentication of personal identity. Blockchain services revolutionize BFSI, as banks and financial service providers are among the largest companies exploring blockchain technology. This is because it has a number of highly useful decentralized applications in different fields, including cross-border payments, transactions, exchanges, internet banking, trade finance, knowledge of your customers (KYC), risk and corporate enforcement. Technology is becoming a new business model.
- potential of blockchain-as-a-service has been recognized by few of the world’s largest software companies. The key players of global Blockchain-as-a-Service market report include- Accenture, Cognizant, IBM Corporation, Deloitte Touche Tohmatsu Limited., Amazon Web Services, PwC, Microsoft Corporation, Oracle Corporation, Infosys, and SAP SE among others.
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