Blockchain as a service (BaaS) allows customers to leverage cloud-based solutions to build, host, and operate their own blockchain apps and related functions on the blockchain. Furthermore, the rise in adoption of blockchain-enabled distributed ledgers among various fintech is owing to a surge in cyberattacks and an increase in the need to protect critical data of the companies.
The growth in number of cyber threats, post the outbreak of the COVID-19 pandemic, aided in propelling the growth of the global blockchain as a service (BaaS) solutions during the period, hence empowering the demand for blockchain as a service (BaaS) solution. Moreover, the rise in complexity of the global financial sector during the period has positively impacted the need for the blockchain as a service (BaaS) industry. However, the initial development and implementation costs of blockchain services can hamper the blockchain as a service (BaaS) market during the forecast period. On the contrary, the rise in adoption of blockchain technologies in the global economy is expected to offer remunerative opportunities for the expansion of the blockchain as a service (BaaS) market during the forecast period.
The blockchain as a service (BaaS) market is segmented on the basis of offering, enterprise size, application, industry vertical, and region. On the basis of offering, the industry is divided into tools and services. By enterprise size, the market is bifurcated into large enterprises and SMEs. By application, the market is categorized into payments, smart contracts, supply chain management, compliance management, trade finance, and others. By industry vertical, the market is classified into BFSI, government & public sector, manufacturing, retail & e-commerce, media & entertainment, transportation & logistics, healthcare, energy & utilities, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the blockchain as a service (BaaS) market analysis are Accenture, Plc, Altores, AWS, Bitfury, Factom, HPE, Huawei, IBM Corporation, Infosys Limited, Leewayhertz, Microsoft, Oracle, Oodles Technologies, R3, SAP SE, Salesforce, and Wipro. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
The growth in number of cyber threats, post the outbreak of the COVID-19 pandemic, aided in propelling the growth of the global blockchain as a service (BaaS) solutions during the period, hence empowering the demand for blockchain as a service (BaaS) solution. Moreover, the rise in complexity of the global financial sector during the period has positively impacted the need for the blockchain as a service (BaaS) industry. However, the initial development and implementation costs of blockchain services can hamper the blockchain as a service (BaaS) market during the forecast period. On the contrary, the rise in adoption of blockchain technologies in the global economy is expected to offer remunerative opportunities for the expansion of the blockchain as a service (BaaS) market during the forecast period.
The blockchain as a service (BaaS) market is segmented on the basis of offering, enterprise size, application, industry vertical, and region. On the basis of offering, the industry is divided into tools and services. By enterprise size, the market is bifurcated into large enterprises and SMEs. By application, the market is categorized into payments, smart contracts, supply chain management, compliance management, trade finance, and others. By industry vertical, the market is classified into BFSI, government & public sector, manufacturing, retail & e-commerce, media & entertainment, transportation & logistics, healthcare, energy & utilities, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the blockchain as a service (BaaS) market analysis are Accenture, Plc, Altores, AWS, Bitfury, Factom, HPE, Huawei, IBM Corporation, Infosys Limited, Leewayhertz, Microsoft, Oracle, Oodles Technologies, R3, SAP SE, Salesforce, and Wipro. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the blockchain-as-a-service market analysis from 2021 to 2031 to identify the prevailing blockchain-as-a-service market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the blockchain-as-a-service market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global blockchain-as-a-service market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
- Payments
- Smart Contracts
- Supply Chain Management
- Compliance management
- Trade Finance
- Others
By industry Vertical
- BFSI
- BFSI Type
- Banking
- Financial Services
- Insurance
- Government and Public Sector
- Manufacturing
- Retail and E Commerce
- Media and Entertainment
- Transportation and logistics
- Healthcare
- Energy and Utilities
- Others
By Offering
- Tools
- Services
By Enterprise Size
- Large Enterprises
- SMEs
By Region
- North America
- U. S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Singapore
- South Korea
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Accenture plc
- Altores
- AWS
- Bitfury
- Factom
- HPE
- huawei technologies
- IBM CORPORATION
- infosys limited
- leewayhertz
- Microsoft Corporation
- Oracle Corporation
- Oodles Technologies
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Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: BLOCKCHAIN-AS-A-SERVICE MARKET, BY OFFERING
4.1 Overview
4.1.1 Market size and forecast
4.2 Tools
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3 Services
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
CHAPTER 5: BLOCKCHAIN-AS-A-SERVICE MARKET, BY ENTERPRISE SIZE
5.1 Overview
5.1.1 Market size and forecast
5.2 Large Enterprises
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3 SMEs
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
CHAPTER 6: BLOCKCHAIN-AS-A-SERVICE MARKET, BY APPLICATION
6.1 Overview
6.1.1 Market size and forecast
6.2 Payments
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market share analysis by country
6.3 Smart Contracts
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market share analysis by country
6.4 Supply Chain Management
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market share analysis by country
6.5 Compliance management
6.5.1 Key market trends, growth factors and opportunities
6.5.2 Market size and forecast, by region
6.5.3 Market share analysis by country
6.6 Trade Finance
6.6.1 Key market trends, growth factors and opportunities
6.6.2 Market size and forecast, by region
6.6.3 Market share analysis by country
6.7 Others
6.7.1 Key market trends, growth factors and opportunities
6.7.2 Market size and forecast, by region
6.7.3 Market share analysis by country
CHAPTER 7: BLOCKCHAIN-AS-A-SERVICE MARKET, BY INDUSTRY VERTICAL
7.1 Overview
7.1.1 Market size and forecast
7.2 BFSI
7.2.1 Key market trends, growth factors and opportunities
7.2.2 Market size and forecast, by region
7.2.3 Market share analysis by country
7.2.4 BFSI Blockchain-as-a-Service Market by BFSI Type
7.2.4.1 Banking Market size and forecast, by region
7.2.4.2 Banking Market size and forecast, by country
7.2.4.3 Financial Services Market size and forecast, by region
7.2.4.4 Financial Services Market size and forecast, by country
7.2.4.5 Insurance Market size and forecast, by region
7.2.4.6 Insurance Market size and forecast, by country
7.3 Government and Public Sector
7.3.1 Key market trends, growth factors and opportunities
7.3.2 Market size and forecast, by region
7.3.3 Market share analysis by country
7.4 Manufacturing
7.4.1 Key market trends, growth factors and opportunities
7.4.2 Market size and forecast, by region
7.4.3 Market share analysis by country
7.5 Retail and E Commerce
7.5.1 Key market trends, growth factors and opportunities
7.5.2 Market size and forecast, by region
7.5.3 Market share analysis by country
7.6 Media and Entertainment
7.6.1 Key market trends, growth factors and opportunities
7.6.2 Market size and forecast, by region
7.6.3 Market share analysis by country
7.7 Transportation and logistics
7.7.1 Key market trends, growth factors and opportunities
7.7.2 Market size and forecast, by region
7.7.3 Market share analysis by country
7.8 Healthcare
7.8.1 Key market trends, growth factors and opportunities
7.8.2 Market size and forecast, by region
7.8.3 Market share analysis by country
7.9 Energy and Utilities
7.9.1 Key market trends, growth factors and opportunities
7.9.2 Market size and forecast, by region
7.9.3 Market share analysis by country
8.0 Others
8.0.1 Key market trends, growth factors and opportunities
8.0.2 Market size and forecast, by region
8.0.3 Market share analysis by country
CHAPTER 8: BLOCKCHAIN-AS-A-SERVICE MARKET, BY REGION
8.1 Overview
8.1.1 Market size and forecast
8.2 North America
8.2.1 Key trends and opportunities
8.2.2 North America Market size and forecast, by Offering
8.2.3 North America Market size and forecast, by Enterprise Size
8.2.4 North America Market size and forecast, by Application
8.2.5 North America Market size and forecast, by industry Vertical
8.2.5.1 North America BFSI Blockchain-as-a-Service Market by BFSI Type
8.2.6 North America Market size and forecast, by country
8.2.6.1 U. S.
8.2.6.1.1 Key market trends, growth factors and opportunities
8.2.6.1.2 Market size and forecast, by Offering
8.2.6.1.3 Market size and forecast, by Enterprise Size
8.2.6.1.4 Market size and forecast, by Application
8.2.6.1.5 Market size and forecast, by industry Vertical
8.2.6.1.5.1 U. S. BFSI Blockchain-as-a-Service Market by BFSI Type
8.2.6.2 Canada
8.2.6.2.1 Key market trends, growth factors and opportunities
8.2.6.2.2 Market size and forecast, by Offering
8.2.6.2.3 Market size and forecast, by Enterprise Size
8.2.6.2.4 Market size and forecast, by Application
8.2.6.2.5 Market size and forecast, by industry Vertical
8.2.6.2.5.1 Canada BFSI Blockchain-as-a-Service Market by BFSI Type
8.3 Europe
8.3.1 Key trends and opportunities
8.3.2 Europe Market size and forecast, by Offering
8.3.3 Europe Market size and forecast, by Enterprise Size
8.3.4 Europe Market size and forecast, by Application
8.3.5 Europe Market size and forecast, by industry Vertical
8.3.5.1 Europe BFSI Blockchain-as-a-Service Market by BFSI Type
8.3.6 Europe Market size and forecast, by country
8.3.6.1 UK
8.3.6.1.1 Key market trends, growth factors and opportunities
8.3.6.1.2 Market size and forecast, by Offering
8.3.6.1.3 Market size and forecast, by Enterprise Size
8.3.6.1.4 Market size and forecast, by Application
8.3.6.1.5 Market size and forecast, by industry Vertical
8.3.6.1.5.1 UK BFSI Blockchain-as-a-Service Market by BFSI Type
8.3.6.2 Germany
8.3.6.2.1 Key market trends, growth factors and opportunities
8.3.6.2.2 Market size and forecast, by Offering
8.3.6.2.3 Market size and forecast, by Enterprise Size
8.3.6.2.4 Market size and forecast, by Application
8.3.6.2.5 Market size and forecast, by industry Vertical
8.3.6.2.5.1 Germany BFSI Blockchain-as-a-Service Market by BFSI Type
8.3.6.3 France
8.3.6.3.1 Key market trends, growth factors and opportunities
8.3.6.3.2 Market size and forecast, by Offering
8.3.6.3.3 Market size and forecast, by Enterprise Size
8.3.6.3.4 Market size and forecast, by Application
8.3.6.3.5 Market size and forecast, by industry Vertical
8.3.6.3.5.1 France BFSI Blockchain-as-a-Service Market by BFSI Type
8.3.6.4 Italy
8.3.6.4.1 Key market trends, growth factors and opportunities
8.3.6.4.2 Market size and forecast, by Offering
8.3.6.4.3 Market size and forecast, by Enterprise Size
8.3.6.4.4 Market size and forecast, by Application
8.3.6.4.5 Market size and forecast, by industry Vertical
8.3.6.4.5.1 Italy BFSI Blockchain-as-a-Service Market by BFSI Type
8.3.6.5 Spain
8.3.6.5.1 Key market trends, growth factors and opportunities
8.3.6.5.2 Market size and forecast, by Offering
8.3.6.5.3 Market size and forecast, by Enterprise Size
8.3.6.5.4 Market size and forecast, by Application
8.3.6.5.5 Market size and forecast, by industry Vertical
8.3.6.5.5.1 Spain BFSI Blockchain-as-a-Service Market by BFSI Type
8.3.6.6 Netherlands
8.3.6.6.1 Key market trends, growth factors and opportunities
8.3.6.6.2 Market size and forecast, by Offering
8.3.6.6.3 Market size and forecast, by Enterprise Size
8.3.6.6.4 Market size and forecast, by Application
8.3.6.6.5 Market size and forecast, by industry Vertical
8.3.6.6.5.1 Netherlands BFSI Blockchain-as-a-Service Market by BFSI Type
8.3.6.7 Rest of Europe
8.3.6.7.1 Key market trends, growth factors and opportunities
8.3.6.7.2 Market size and forecast, by Offering
8.3.6.7.3 Market size and forecast, by Enterprise Size
8.3.6.7.4 Market size and forecast, by Application
8.3.6.7.5 Market size and forecast, by industry Vertical
8.3.6.7.5.1 Rest of Europe BFSI Blockchain-as-a-Service Market by BFSI Type
8.4 Asia-Pacific
8.4.1 Key trends and opportunities
8.4.2 Asia-Pacific Market size and forecast, by Offering
8.4.3 Asia-Pacific Market size and forecast, by Enterprise Size
8.4.4 Asia-Pacific Market size and forecast, by Application
8.4.5 Asia-Pacific Market size and forecast, by industry Vertical
8.4.5.1 Asia-Pacific BFSI Blockchain-as-a-Service Market by BFSI Type
8.4.6 Asia-Pacific Market size and forecast, by country
8.4.6.1 China
8.4.6.1.1 Key market trends, growth factors and opportunities
8.4.6.1.2 Market size and forecast, by Offering
8.4.6.1.3 Market size and forecast, by Enterprise Size
8.4.6.1.4 Market size and forecast, by Application
8.4.6.1.5 Market size and forecast, by industry Vertical
8.4.6.1.5.1 China BFSI Blockchain-as-a-Service Market by BFSI Type
8.4.6.2 Japan
8.4.6.2.1 Key market trends, growth factors and opportunities
8.4.6.2.2 Market size and forecast, by Offering
8.4.6.2.3 Market size and forecast, by Enterprise Size
8.4.6.2.4 Market size and forecast, by Application
8.4.6.2.5 Market size and forecast, by industry Vertical
8.4.6.2.5.1 Japan BFSI Blockchain-as-a-Service Market by BFSI Type
8.4.6.3 India
8.4.6.3.1 Key market trends, growth factors and opportunities
8.4.6.3.2 Market size and forecast, by Offering
8.4.6.3.3 Market size and forecast, by Enterprise Size
8.4.6.3.4 Market size and forecast, by Application
8.4.6.3.5 Market size and forecast, by industry Vertical
8.4.6.3.5.1 India BFSI Blockchain-as-a-Service Market by BFSI Type
8.4.6.4 Australia
8.4.6.4.1 Key market trends, growth factors and opportunities
8.4.6.4.2 Market size and forecast, by Offering
8.4.6.4.3 Market size and forecast, by Enterprise Size
8.4.6.4.4 Market size and forecast, by Application
8.4.6.4.5 Market size and forecast, by industry Vertical
8.4.6.4.5.1 Australia BFSI Blockchain-as-a-Service Market by BFSI Type
8.4.6.5 Singapore
8.4.6.5.1 Key market trends, growth factors and opportunities
8.4.6.5.2 Market size and forecast, by Offering
8.4.6.5.3 Market size and forecast, by Enterprise Size
8.4.6.5.4 Market size and forecast, by Application
8.4.6.5.5 Market size and forecast, by industry Vertical
8.4.6.5.5.1 Singapore BFSI Blockchain-as-a-Service Market by BFSI Type
8.4.6.6 South Korea
8.4.6.6.1 Key market trends, growth factors and opportunities
8.4.6.6.2 Market size and forecast, by Offering
8.4.6.6.3 Market size and forecast, by Enterprise Size
8.4.6.6.4 Market size and forecast, by Application
8.4.6.6.5 Market size and forecast, by industry Vertical
8.4.6.6.5.1 South Korea BFSI Blockchain-as-a-Service Market by BFSI Type
8.4.6.7 Rest of Asia-Pacific
8.4.6.7.1 Key market trends, growth factors and opportunities
8.4.6.7.2 Market size and forecast, by Offering
8.4.6.7.3 Market size and forecast, by Enterprise Size
8.4.6.7.4 Market size and forecast, by Application
8.4.6.7.5 Market size and forecast, by industry Vertical
8.4.6.7.5.1 Rest of Asia-Pacific BFSI Blockchain-as-a-Service Market by BFSI Type
8.5 LAMEA
8.5.1 Key trends and opportunities
8.5.2 LAMEA Market size and forecast, by Offering
8.5.3 LAMEA Market size and forecast, by Enterprise Size
8.5.4 LAMEA Market size and forecast, by Application
8.5.5 LAMEA Market size and forecast, by industry Vertical
8.5.5.1 LAMEA BFSI Blockchain-as-a-Service Market by BFSI Type
8.5.6 LAMEA Market size and forecast, by country
8.5.6.1 Latin America
8.5.6.1.1 Key market trends, growth factors and opportunities
8.5.6.1.2 Market size and forecast, by Offering
8.5.6.1.3 Market size and forecast, by Enterprise Size
8.5.6.1.4 Market size and forecast, by Application
8.5.6.1.5 Market size and forecast, by industry Vertical
8.5.6.1.5.1 Latin America BFSI Blockchain-as-a-Service Market by BFSI Type
8.5.6.2 Middle East
8.5.6.2.1 Key market trends, growth factors and opportunities
8.5.6.2.2 Market size and forecast, by Offering
8.5.6.2.3 Market size and forecast, by Enterprise Size
8.5.6.2.4 Market size and forecast, by Application
8.5.6.2.5 Market size and forecast, by industry Vertical
8.5.6.2.5.1 Middle East BFSI Blockchain-as-a-Service Market by BFSI Type
8.5.6.3 Africa
8.5.6.3.1 Key market trends, growth factors and opportunities
8.5.6.3.2 Market size and forecast, by Offering
8.5.6.3.3 Market size and forecast, by Enterprise Size
8.5.6.3.4 Market size and forecast, by Application
8.5.6.3.5 Market size and forecast, by industry Vertical
8.5.6.3.5.1 Africa BFSI Blockchain-as-a-Service Market by BFSI Type
CHAPTER 9: COMPANY LANDSCAPE
9.1. Introduction
9.2. Top winning strategies
9.3. Product Mapping of Top 10 Player
9.4. Competitive Dashboard
9.5. Competitive Heatmap
9.6. Key developments
CHAPTER 10: COMPANY PROFILES
10.1 Accenture plc
10.1.1 Company overview
10.1.2 Company snapshot
10.1.3 Operating business segments
10.1.4 Product portfolio
10.1.5 Business performance
10.1.6 Key strategic moves and developments
10.2 Altores
10.2.1 Company overview
10.2.2 Company snapshot
10.2.3 Operating business segments
10.2.4 Product portfolio
10.2.5 Business performance
10.2.6 Key strategic moves and developments
10.3 AWS
10.3.1 Company overview
10.3.2 Company snapshot
10.3.3 Operating business segments
10.3.4 Product portfolio
10.3.5 Business performance
10.3.6 Key strategic moves and developments
10.4 Bitfury
10.4.1 Company overview
10.4.2 Company snapshot
10.4.3 Operating business segments
10.4.4 Product portfolio
10.4.5 Business performance
10.4.6 Key strategic moves and developments
10.5 Factom
10.5.1 Company overview
10.5.2 Company snapshot
10.5.3 Operating business segments
10.5.4 Product portfolio
10.5.5 Business performance
10.5.6 Key strategic moves and developments
10.6 HPE
10.6.1 Company overview
10.6.2 Company snapshot
10.6.3 Operating business segments
10.6.4 Product portfolio
10.6.5 Business performance
10.6.6 Key strategic moves and developments
10.7 huawei technologies
10.7.1 Company overview
10.7.2 Company snapshot
10.7.3 Operating business segments
10.7.4 Product portfolio
10.7.5 Business performance
10.7.6 Key strategic moves and developments
10.8 IBM CORPORATION
10.8.1 Company overview
10.8.2 Company snapshot
10.8.3 Operating business segments
10.8.4 Product portfolio
10.8.5 Business performance
10.8.6 Key strategic moves and developments
10.9 infosys limited
10.9.1 Company overview
10.9.2 Company snapshot
10.9.3 Operating business segments
10.9.4 Product portfolio
10.9.5 Business performance
10.9.6 Key strategic moves and developments
10.10 leewayhertz
10.10.1 Company overview
10.10.2 Company snapshot
10.10.3 Operating business segments
10.10.4 Product portfolio
10.10.5 Business performance
10.10.6 Key strategic moves and developments
10.11 Microsoft Corporation
10.11.1 Company overview
10.11.2 Company snapshot
10.11.3 Operating business segments
10.11.4 Product portfolio
10.11.5 Business performance
10.11.6 Key strategic moves and developments
10.12 Oracle Corporation
10.12.1 Company overview
10.12.2 Company snapshot
10.12.3 Operating business segments
10.12.4 Product portfolio
10.12.5 Business performance
10.12.6 Key strategic moves and developments
10.13 Oodles Technologies
10.13.1 Company overview
10.13.2 Company snapshot
10.13.3 Operating business segments
10.13.4 Product portfolio
10.13.5 Business performance
10.13.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Blockchain-as-a-Service Market,' the blockchain-as-a-service market size was valued at $828.96 million in 2021, and is estimated to reach $84.6 billion by 2031, growing at a CAGR of 59.3% from 2022 to 2031.Blockchain as a service (BaaS) allows businesses of all types and sizes to access blockchain-based technologies without investing on in-house development teams and processes. The BaaS model enables companies to access the blockchain provider's service wherein they can develop blockchain applications at a minimal cost. Furthermore, increase in number of cyber threats post the outbreak of the COVID-19 pandemic aided in propelling the growth of the global blockchain as a service (BaaS) solutions during the forecast period, hence empowering the demand for blockchain as a service (BaaS) solution. Moreover, the rise in complexity of the global financial sector during the period has positively impacted the need for blockchain as a service (BaaS) industry. However, the initial development and implementation costs of blockchain services is anticipated to hamper the blockchain as a service (BaaS) market during the forecast period. On the contrary, the growth in adoption of blockchain technologies in the global economy is expected to offer remunerative opportunities for the expansion of the blockchain-as-a-service market forecast.
On the basis of enterprise size, the large enterprises segment dominated the overall blockchain-as-a-service market in 2021 and is expected to continue this trend during the forecast period. This is attributed to the custom offerings and higher privacy and recordkeeping requirements of large enterprises. However, the SMEs segment is expected to witness the highest growth owing to growth in technological advancements of SMEs, which is anticipated to grow in the coming years and is expected to further fuel the growth of the global blockchain-as-a-service market.
Region wise, the blockchain-as-a-service market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its higher expenditure on technological solutions However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the growth in number of startups and the expanding business sector of the region, which is expected to fuel the growth of the blockchain-as-a-service industry in the region during the forecast period.
The outbreak of COVID-19 is anticipated to have a positive impact on the growth of the blockchain-as-a-service market. This is attributed to the fact that with the emergence of COVID-19, the use of blockchain solutions enabled business enterprises to address critical security and management challenges while remote working. In addition, the use of blockchain networks and technology proved to be an essential tool for establishing an efficient and transparent healthcare business model based on higher degrees of accuracy and trust because technology with the help of a tamper-proof public ledger, thereby fueling the growth of the global blockchain-as-a-service market analysis.
KEY FINDINGS OF THE STUDY
By industry vertical, the BFSI segment accounted for the largest blockchain-as-a-service market share in 2021.By region, North America generated the highest revenue in 2021.
By enterprise size, the large enterprise segment generated the highest revenue in 2021.
The key players profiled in the blockchain-as-a-service market forecast are Accenture, Plc, Altores, AWS, Bitfury, Factom, HPE, Huawei, IBM Corporation, Infosys Limited, Leewayhertz, Microsoft, Oracle, Oodles Technologies, R3, SAP SE, Salesforce, and Wipro. These players have adopted various strategies to increase their market penetration and strengthen their position in the blockchain-as-a-service industry.
Companies Mentioned
- Accenture PLC
- Altores
- Aws
- Bitfury
- Factom
- Hpe
- Huawei Technologies
- IBM Corporation
- Infosys Limited
- Leewayhertz
- Microsoft Corporation
- Oracle Corporation
- Oodles Technologies
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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