USD 1.62 billion
Global Blockchain as a Service Market Size, Share, Growth Analysis, By Component(Platforms, Services (Professional Services), By Provider(Cloud Service Providers (CSPs), Third-Party Service Providers), By Application(Supply Chain Management, Smart Contracts) - Industry Forecast 2024-2031
Report ID:
SQMIG40F2002 |
Region:
Global |
Published Date: April, 2024
Pages:
207
|
Tables:
93 |
Figures:
76
Global Blockchain as a Service Market Insights
Global Blockchain As A Service Market size was valued at USD 1.62 billion in 2022 and is poised to grow from USD 2.55 billion in 2023 to USD 94.43 billion by 2031, growing at a CAGR of 57.10% during the forecast period (2024-2031).
The global Blockchain as a Service (BaaS) marketplace is experiencing wonderful growth pushed by way of the increasing adoption of blockchain generation throughout various industries. Organizations are leveraging BaaS answers to harness the advantages of decentralized and stable information management with out the complexities of keeping an in-residence blockchain infrastructure. Key drivers consist of the rising call for for streamlined blockchain deployment, fee-effectiveness, and the developing reputation of blockchain's capability in enhancing transparency and efficiency.
However, demanding situations including regulatory uncertainties and worries about facts privateness act as restraints. The marketplace is characterised through a competitive panorama with a mixture of hooked up players and innovative startups supplying various BaaS solutions to cater to evolving enterprise desires. This dynamic market is predicted to witness endured expansion as groups searching for agile and scalable blockchain solutions for numerous applications.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Platforms
Fastest Growth
Platforms
Growth Rate
57.10% CAGR
Global Blockchain As A Service Market ($ Bn)
Country Share for North America Region (%)
Global Blockchain As A Service Market By Component ($ Bn)
Global Blockchain As A Service Market By Component (%)
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Global Blockchain as a Service Market Segmental Analysis
The global Blockchain as a Service market is segmented into four major segments i.e. by By Component, Provider, Application, and region. Based on Type, it is divided into Platforms, Services (Professional Services, Managed Services). Based on Provider, it is bifurcated as Cloud Service Providers (CSPs), Third-Party Service Providers. Based on Application it is segregated into, Supply Chain Management, Smart Contracts, Identity Management, Payments, Governance, Risk, and Compliance Management. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Analysis by Component
Platforms are predicted to dominate the Blockchain as a Service (BaaS) marketplace. As the foundational infrastructure for deploying blockchain solutions, systems offer the necessary tools and functionalities to streamline development and integration. Organizations searching for to harness blockchain benefits frequently rely on robust systems for his or her versatility and ease of implementation, making them a dominant element within the BaaS market.
Managed Services are predicted to be the quickest-developing factor. As the adoption of blockchain expands, organizations may additionally are trying to find external understanding to manage and optimize their blockchain deployments. Managed services offer ongoing support, renovation, and tracking, permitting agencies to awareness on core operations. The growing complexity of blockchain solutions and the desire for specialized assistance role managed offerings as a vital and rapidly growing issue in assembly evolving market desires.
Analysis by Application
Supply Chain Management is expected to dominate the Blockchain as a Service (BaaS) marketplace. The decentralized and obvious nature of blockchain technology addresses the complexities and demanding situations of deliver chain methods. From traceability to lowering fraud, blockchain in deliver chain control enhances performance and consider across the entire deliver network, making it a dominant software phase.
Smart Contracts are expected to be the quickest-growing software section. The automation and self-executing abilities of smart contracts carry performance and protection to various industries. As companies understand the capability for lowering guide procedures and enhancing transparency, the adoption of clever contracts is anticipated to surge unexpectedly, using massive increase on this software section inside the BaaS marketplace.
Global Blockchain As A Service Market By Component, 2022 (%)
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Global Blockchain as a Service Market Regional Insights
North America is predicted to dominate the Blockchain as a Service (BaaS) marketplace. The region's dominance is attributed to its superior technological infrastructure, full-size investments in blockchain studies and improvement, and the significant adoption of rising technology in industries inclusive of finance, healthcare, and deliver chain. Additionally, a excessive level of focus and favorable regulatory environments make contributions to North America's management in the BaaS market.
Asia-Pacific is expected to be the quickest-developing location within the BaaS marketplace. The region's speedy economic development, growing tech-savvy populace, and increasing digitization across industries foster a positive environment for blockchain adoption. Countries like China and India are witnessing significant blockchain tasks, and the demand for green and transparent enterprise techniques is predicted to drive fast boom in the Asia-Pacific BaaS marketplace. The place's numerous markets and technological advancements role it as a key hub for BaaS growth.
Global Blockchain As A Service Market By Region, 2024-2031
- Largest
- Fastest
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Global Blockchain as a Service Market Dynamics
Drivers
Increasing Adoption Of Blockchain Technology Across Industries
- The increasing adoption of blockchain generation across industries is a primary driving force. Organizations international are spotting the transformative capacity of blockchain in improving transparency, security, and performance in various enterprise procedures. BaaS solutions offer a streamlined approach to deploying and managing blockchain networks, reducing the complexity associated with in-house implementations.
Restraints
High Regulatory Uncertainty Surrounding Blockchain Technology
- One of the main marketplace restraints is the regulatory uncertainty surrounding blockchain era. Varying regulations across areas create ambiguity and can avert extensive adoption, in particular in industries difficulty to stringent compliance standards. Another restraint is the ability interoperability issues between distinct blockchain systems and networks, limiting seamless integration.
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Global Blockchain as a Service Market Competitive Landscape
The competitive environment of the Blockchain as a Service marketplace is dynamic and is characterized by using a mixture of hooked up gamers and emerging entrants vying for marketplace share and technological management. Key players in the BaaS marketplace encompass each essential generation groups and specialised blockchain provider carriers. Established cloud provider companies (CSPs) frequently dominate by way of imparting comprehensive BaaS solutions with incorporated services.
Top Player’s Company Profiles
- SAP
- Oracle
- R3
- Accenture
- Huawei
- HPE
- Wipro
- Infosys
- Alibaba Cloud
- Chainlink
- ConsenSys
- Blockdaemon
- Hyperledger Fabric
- Microsoft Azure Blockchain Service
- EY
- KPMG
- PwC
Recent Developments
- September 2023: Ripple, a cryptocurrency enterprise, discovered its plans to purchase Fortress Trust, a startup famend for its knowledge in crypto infrastructure. This acquisition no longer only presents Ripple with a license in Nevada but also opens avenues for growth beyond its primary awareness on blockchain-enabled bills.
- January 2024: Etherscan, the block explorer, has obtained Solscan, a well-known block explorer in the Solana surroundings. This strategic pass objectives to decorate the accessibility of blockchain records throughout various networks, in step with the organization's announcement.
Global Blockchain as a Service Key Market Trends
- Rising Integration Of Blockchain With Emerging Technologies: The growing integration of blockchain with rising technology, inclusive of artificial intelligence and the Internet of Things (IoT). This convergence complements the talents of BaaS answers, fostering greater comprehensive and complex packages. Moreover, there is a developing trend towards the development of enterprise-precise BaaS structures tailored to the particular wishes of sectors like finance, healthcare, and supply chain.
Global Blockchain as a Service Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global Blockchain as a Service marketplace analysis famous a dynamic marketplace with a number of standout trends and difficulties. The market is propelled by using growing blockchain adoption throughout numerous industries, pushed by using the demand for streamlined deployment and value-powerful solutions. Regulatory uncertainties and interoperability demanding situations act as restraints, hindering full-size adoption. Platforms dominate BaaS services, preferred for their versatility, even as managed services witness speedy increase as agencies are searching for external expertise.
North America leads the market because of technological infrastructure, with Asia-Pacific rising as the quickest-growing vicinity, propelled with the aid of digitization initiatives. Key tendencies encompass blockchain integration with rising technology and the improvement of enterprise-particular BaaS systems, reflecting the marketplace's dynamic evolution.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.62 billion |
| Market size value in 2031 | USD 94.43 billion |
| Growth Rate | 57.10% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Blockchain as a Service Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Blockchain as a Service Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Blockchain as a Service Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Blockchain as a Service Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Blockchain as a Service Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Blockchain as a Service Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Blockchain as a Service Market Report Snapshots
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