The global demand for Blockchain-as-a-Service Market is presumed to reach the market size of nearly USD 61.87 MN by 2028 from USD 5.72 MN in 2021 with a CAGR of 40.5% under the study period 2022 - 2028.
Blockchain-as-a-service (BaaS) is the establishment and maintenance of cloud-based networks by a third party for firms that develop blockchain applications. BaaS is similar to a web host in that it manages the back-end operations for a blockchain-based app or platform. BaaS is modelled after the software as a service (SaaS) concept and functions similarly. It enables users to construct, host, and operate their own blockchain apps and related operations on the blockchain using cloud-based technologies. The cloud-based service provider keeps the infrastructure adaptable and operational at the same time. Support services, like bandwidth control, resource allocation, hosting requirements, and data security features, are often delivered by the BaaS operator. The BaaS operator allows the client to focus on what matters most: the blockchain's functioning.
Market Dynamics
There is an increase in the usage of blockchain-as-a-service (BaaS) tools and services among small and medium-sized businesses to construct their blockchain application, payment system, and smart contracts. This particular factor is likely to fuel the market growth over the years. Organizations are using several benefits provided by BaaS services, including security, high immutability, cost-effectiveness, secure decentralization, and others. Furthermore, the evolution of cryptocurrencies and increased investment in a series of initiatives based on blockchain services technology is expected to augment the market growth. The increasing deployment of distributed ledger technology (DLT) based on sophisticated analytics is one of the evolving market drivers. Blockchain services that are based on the Distributed Ledger Technology (DLT) technology aid in monitoring and trading with digital money and providing real-time data sharing in a secured manner. BaaS market growth is expected to be limited by unknown regulatory and government norms and a lack of money and investments.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of blockchain-as-a-service. The growth and trends of blockchain-as-a-service industry provide a holistic approach to this study.
Market Segmentation
This section of the blockchain-as-a-service market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Component
By Business Application
- Supply Chain Management
- Payments
- Identity Management
- Smart Contracts
- Governance, Risk, And Compliance Management (Grc)
- Others (Trade Finance And Data Storage)
By Organization Size
- Large Enterprises
- Small And Medium-Sized Enterprises (Smes)
By Industry
- Banking, Financial Services, And Insurance (Bfsi)
- Healthcare And Life Sciences
- Telecom And It
- Transportation And Logistics
- Retail And E-Commerce
- Government And Public Sector
- Manufacturing
- Energy And Utilities
- Telecom And It
- Media And Entertainment
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Blockchain-as-a-Service market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Blockchain-as-a-Service Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the blockchain-as-a-service market include Stratis Group Ltd., NTT Data Corporation, Baidu, Inc., Oracle Corporation, Microsoft Corporation, VMware, Inc., Infosys Limited, Accenture Plc, SAP SE, Alibaba Group, IBM Corporation. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.
