BLOCKCHAIN-AS-A-SERVICE MARKET: Summary
The Global Blockchain-as-a-Service Market is projected to reach a value of over USD 117.6 Billion by 2027 at a CAGR of around 82.5%.
Blockchain function on distributed ledgers technology helps in sharing data between scalable group of individuals or organisations. A block added after every transaction has a timestamp and the link for the prior block in the chain. This technology is not dependent on any centralized authority can verify, authorize, and conduct transactions automatically based on coded protocol defined by the entities involved in the system.
Blockchain-as-a-Service (BaaS) is an emerging technology that can operate by inserting blockchain architecture into a cloud-computing platform. BaaS platform helps in incorporating blockchain offshore for any organisation in the cloud server. A complete ecosystem is provided by the platform to the end user as per the requirement with advanced features related to security and performance.
BLOCKCHAIN-AS-A-SERVICE MARKET: Drivers & CHALLENGES
- Growing Demand of Cost Effective Solutions
Blockchain is gaining traction across all the sectors as the organisations are adopting this technology to stay ahead in the market. Blockchain implementation eradicates the need of third party vendor, and improves transparency in the organisation. The organisations can build self-hosting blockchain that would incur substantial capital for the infrastructure and for the skilled workforce, a cost effective solution is BaaS. The implementation of a BaaS platform do not require any type of substantial cost, the end users have to pay as per number of units of service used.
Hence, growing demand of cost effective solution can be a contributing factor in the growth of the blockchain-as-a-service market, during the forecast period.
The major setback in the adoption of the blockchain technology is the issue of scalability within its architecture. The problem of scalability occurs because of the limited block size and the existing consensus decision-making in which sequential validation from every node is required before recording any transaction in the blockchain. The problem aggravates with the increase of number of nodes in the network as it increases the number of validation required for final recording of the transaction. The developers need to address the challenge as it hinders the mass adoption of the technology in practical applications.
Hence, lack of scalability can be a limiting factor in the growth of the blockchain-as-a-service market, during the forecast period.
Blockchain-As-a-service market: Key segments
- Segmentation based on offering: Tool, and Solution
- Segmentation based on platform: Permissionless, Permissioned, and Consortium
- Segmentation based on application: Trading, Transactions, Governmental Services, Identity Management, Supply Chain Management, and Others
- Segmentation based on end-users: BFSI, Healthcare, Government, Retail, Energy and Power, and Others.
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, and Middle East & Africa with individual country-level analysis.
Blockchain-As-a-service MARKET: Report SCOPE
The report on the blockchain-as-a-service market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million)
Offering, Platform, Application, End-users, and Region
North America, South America, Asia-Pacific, Europe, Middle East & Africa
KEY Companies Covered
- IBM (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Amazon.com, Inc.
- Huawei Technologies Co., Ltd.
- Infosys Limited
- Other Key Companies
Blockchain-As-a-service MARKET: report segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Blockchain-as-a-Service Market, by Offering
Blockchain-as-a-Service Market, by Platform
Blockchain-as-a-Service Market, by Application
- Governmental Services
- Identity Management
- Supply Chain Management
Blockchain-as-a-Service Market, by End User
- Energy and Power
Blockchain-as-a-Service Market, by Region
- North America
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Blockchain-as-a-Service Market Providers
- Blockchain-as-a-Service Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Blockchain-as-a-Service Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE BLOCKCHAIN-AS-A-SERVICE MARKET STUDY