About Blockchain-as-a-Service
Blockchain as a Service BaaS supports enterprises to use cloud-based solutions to build, host, and use their smart contracts, blockchain apps, and functions. On the other hand, the cloud-based service providers monitor and manage all the essential tasks and activities to keep the cloud infrastructure operational and agile. BaaS works similarly to the concept of the Software As A Service (SaaS) model. Once any third-party service provider establishes necessary block chain infrastructure and technology, it can handle complex back-end services as well as assists in managing their business.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Billion) |
CAGR | 82.0% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States and Indian Players will contribute the maximum growth to Global Blockchain-as-a-Service market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), Microsoft (United States), SAP SE (Germany), Deloitte (United Kingdom), Accenture (Ireland), Oracle (United States), Amazon Web Services, Inc. (United States), Cognizant (United States), Infosys (India), PricewaterhouseCoopers (United Kingdom), Baidu (China) and Huawei (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Hewlett Packard Enterprise (United States), Capgemini (France), NTT Data (Japan), Tata Consultancy Services (India), Mphasis (India), Wipro (Inida), KPMG (Netherlands), Ernst & Young (United Kingdom), Consensys (United States) and L&T Infotech (India).
Segmentation Overview
AMA Research has segmented the market of Global Blockchain-as-a-Service market by , Application (Supply Chain Management, Smart Contracts, Identity Management, Payments, GRC Management and Others) and Region.
On the basis of geography, the market of Blockchain-as-a-Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Component, the sub-segment i.e. Tools will boost the Blockchain-as-a-Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Varticles, the sub-segment i.e. BFSI will boost the Blockchain-as-a-Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
BaaS Integration with the Internet Of Things, Increased regulations by local as well as national regulators, BaaS for Content Streaming and Smart Contracts
Market Growth Drivers:
Increasing Demand for Software as a Service, Growing awareness about Blockchain Technology, Cost-effective Solutions and Can be Developed with comparatively lower costs
Challenges:
Lack of Standardized Software Development and Need for Skilled Application Developers
Restraints:
Complex Regulations from local as well as international regulatory boards and Network Speeds in underdeveloped regions are comparatively low
Opportunities:
Adoption in Number of Applications and Advancements in Supply chain Management and International Trades
Market Leaders and their expansionary development strategies
According to the CCN report on November 2018, Microsoft has been ranked as the top blockchain-as-a-service (BaaS) platform provider, beating competitors including IBM. In addition to this, Microsoft has integrated its Baas platform with the Microsoft Azure Cloud, which shows the second-largest market share in the public cloud services market globally.
"The United State Department supports public-private partnerships for maximizing the impact and accountability of foreign assistance, blockchain technology, by bringing transparency to the international trades." and "The United Nations (UN) has even stepped into the world of blockchain, issuing a blog post this week to announce the launch of its Climate Chain Coalition, which includes the exploration of blockchain to facilitate various initiatives in environmental protection."
Key Target Audience
Blockchain technology providers, Managed Service Providers (MSPs), Cloud Service Providers (CSPs), End-users, System integrators, Value-Added Resellers (VARs), Government agencies, Third-party providers, Consultants/consultancies/advisory firms and Support and maintenance service providers
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.