Global Blockchain-as-a-Service Market Size Study, by Organization Size (Large Enterprises, SMEs), by Application (Governance, Risk, & Compliance Management, Identity Management, Payments, Smart Contracts, Supply Chain Management), by Vertical (BFSI, Energ

Global Blockchain-as-a-Service Market Size Study, by Organization Size (Large Enterprises, SMEs), by Application (Governance, Risk, & Compliance Management, Identity Management, Payments, Smart Contracts, Supply Chain Management), by Vertical (BFSI, Energy & Utilities, Government & Public Sector, Healthcare, Manufacturing, Retail & eCommerce, Transportation & Logistics) and Regional Forecasts 2022-2032

Global Blockchain-as-a-Service Market is valued at approximately USD 3.16 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 40.55% over the forecast period 2024-2032. Blockchain-as-a-Service (BaaS) is an emerging technology offering businesses third-party creation and management of cloud-based networks for blockchain applications. By operating similarly to a web host, BaaS enables enterprises to leverage the advantages of blockchain technology without the complexities of developing and maintaining blockchain infrastructure. Its applications span diverse industries, including finance, supply chain, healthcare, and identity management, catering to both small startups and large enterprises. The demand for BaaS is driven by the increasing adoption of blockchain technology across various sectors, the need for enhanced operational efficiency and transparency, and the growing demand for secure blockchain services.

Moreover, continuous investments and partnerships by leading tech companies are accelerating the growth of the BaaS market. However, challenges such as security concerns, lack of standardization and interoperability between different blockchain platforms, and a shortage of skilled professionals hinder market growth. On the positive side, the expanding scope of blockchain technology into new industries presents numerous opportunities, including the development of hybrid blockchain technology and integrating AI and machine learning with blockchain.

The key regions considered for the global Blockchain-as-a-Service Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Blockchain-as-a-Service Market in terms of revenue. The market growth in the region is being attributed to factors including presence of major tech companies and early adoption of blockchain technologies. The region's demand for BaaS is fueled by various industries, including finance, healthcare, and supply chain. Strategic partnerships and M&A activities are notable trends driving innovation and expanding BaaS portfolios. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by rapid technology adoption, shows significant interest in BaaS, with China and Japan at the forefront of research and development.

Major market players included in this report are:

Accenture PLC

Alibaba Cloud International by Alibaba Group Holding Limited

Amazon Web Services, Inc.

Baidu, Inc.

Bitfury Holding B.V.

Blockedge Technologies Inc. by SecureKloud Technologies

Chainstack Pte. Ltd.

Consensys Software Inc.

Dragonchain, Inc.

Hewlett Packard Enterprise Company

IBM Corporation

Infosys Limited

Oracle Corporation

SAP SE

Tata Consultancy Services Limited

The detailed segments and sub-segment of the market are explained below:

By Organization Size
• Large Enterprises
• SMEs

By Application
• Governance, Risk, & Compliance Management
• Identity Management
• Payments
• Smart Contracts
• Supply Chain Management

By Vertical
• BFSI
• Energy & Utilities
• Government & Public Sector
• Healthcare
• Manufacturing
• Retail & eCommerce
• Transportation & Logistics

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico
• RoLA

Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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