Blockchain As A Service (Baas) Market To Grow At Over 56.5% CAGR Through 2028 | Introspective Market Research

Market Overview:

Global Blockchain as a Service (BaaS) Market size was valued at USD 2.50 Billion in 2021 and is projected to reach USD 57.48 Billion by 2028, growing at a CAGR of 56.5% from 2022 to 2028.

Blockchain-as-a-Service (BaaS) involves managing and maintaining cloud-based networks for companies developing blockchain applications. BaaS represents a significant step in the evolution of blockchain technology, expanding its use beyond cryptocurrency. BaaS allows businesses to leverage cloud services to build and operate blockchain-based applications without the complexities and costs associated with blockchain infrastructure. It offers pre-built applications and services for creating distributed ledgers, digital identity management, and supply chain systems. The BaaS market comprises services and tools, with application segments including payments, supply chain management, smart contracts, governance, and identity management.

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Key Chapter Will Be Provided In The Report

•Patent Analysis
•Regulatory Framework
•Technology Roadmap
•BCG Matrix
•Heat Map Analysis
•Price Trend Analysis
•Investment Analysis
•Company Profiling and Competitive Positioning
•Industry Value Chain Analysis
•Market Dynamics and Factors
•Porter's Five Forces Analysis
•Pestle Analysis
•SWOT Analysis

Key Players For The Blockchain As A Service (Baas) Market

•Baidu (China)
•Capgemini (Paris)
•Cognizant (US)
•Consensys(US)
•Deloitte (UK)
•Ey (UK)
•IBM (US)
•Microsoft (US)
•SAP SE (Germany)
•Wipro (India)
•Infosys (India)
•Altoros (US)
•VeChain Foundation (China)
•Amazon Web Services (AWS) (US)
•R3 (US)
•Oracle (US)
•Huawei (China)
•HPE (US)
•BLOCKO (South Korea)
•Dragonchain (US)
•BitFury (Netherlands)
•Crypto APIs (Bulgaria)
•Oodles Technologies (India)
•Chainstack (Singapore)
•Cryptowerk (US)
•Morpheus Labs (Singapore)
•Shipchain (South Carolina), and Other Major Players.

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Market Dynamics:

Driver:

BaaS eliminates the upfront costs associated with setting up and managing a dedicated blockchain infrastructure. It allows businesses to leverage the cloud, benefiting from economies of scale and reducing operational overhead. This driver makes blockchain more accessible and cost-effective for organizations of all sizes. BaaS simplifies the adoption of blockchain technology by eliminating the need for organizations to build and maintain their own blockchain infrastructure. This driver enables businesses to embrace blockchain without significant technical expertise, reducing barriers to entry and accelerating adoption.

Opportunities:

The Blockchain as a Service (BaaS) market offers a significant opportunity to explore and develop a wide range of blockchain-based applications beyond cryptocurrency. Various industries, including supply chain, healthcare, finance, and logistics, can leverage BaaS to create innovative solutions that enhance transparency, security, and operational efficiency. BaaS facilitates collaboration and interoperability among different blockchain networks and platforms, enabling businesses to integrate multiple blockchains and capitalize on their unique strengths. Furthermore, BaaS provides scalability and flexibility, allowing organizations to adjust their blockchain infrastructure according to demand, supporting the growth of blockchain applications. This opportunity ensures that BaaS can effectively handle increased transaction volumes and adapt to evolving business requirements, driving the expansion of the BaaS market.

Segmentation Analysis Of Blockchain As A Service (Baas) Market

By Component

•Tools
•Services

By Application

•Supply Chain Management
•Payments
•Risk & Compliance Management
•Others

By End Users

•BFSI
•Healthcare & Life Sciences
•Government
•Retail & Consumer Goods
•Other End-User

Regional Analysis of The Big Data as a Service Market

•North America
o US
o Canada
o Mexico

•Eastern Europe
o Bulgaria
o The Czech Republic
o Hungary
o Poland
o Romania
o Rest of Eastern Europe

•Western Europe
o Germany
o UK
o France
o Netherlands
o Italy
o Russia
o Spain
o Rest of Western Europe

•Asia Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Thailand
o Vietnam
o The Philippines
o Australia
o New Zealand
o Rest of APAC

•Middle East & Africa
o Turkey
o Bahrain
o Kuwait
o Saudi Arabia
o Qatar
o UAE
o Israel
o South Africa

•South America
o Brazil
o Argentina
o Rest of SA

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Key Industry Development In The Blockchain as a Service (BaaS) Market

In May 2022, The EY organization declared the production release of the third generation of EY Blockchain Analyzer: Reconciler. This updated version has been migrated into blockchain.ey.com and is now available for the first time to EY non-audit clients and continues to support the EY Audit teams. The tool offers various features including importing enterprise records, reconciling off-chain enterprise records with on-chain transactions and tracking wallet balances.

In July 2022, Blockchain-as-a-Service (BaaS) platform, Seracle has declared the introduction of Web 3.0 non-fungible token (NFT) infrastructure for brands and corporates over the sectors to help them create their own customised NFT marketplaces.

The report provides insights on the following pointers:

1.Market Penetration: Offers comprehensive information on the market offered by the key players
2.Market Analysis: Provides detailed information on lucrative growing markets and examines market penetration across mature segments.
3.Market Diversification: Details regarding new product launches, untapped geographies, recent developments, and investments are provided.
4.Competitive Landscape: Provides an in-depth analysis of the top companies' market shares, strategies, products, certification, regulatory approvals, patent landscape, and production capabilities.
5.Industry Dynamics and Factors: Offers insightful information about future technologies, R&D initiatives, and game-changing product breakthroughs.

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The report covers exhaustive analysis on:

•The market size and industry growth rate of the global and regional market across various segments

•Based on extensive primary and secondary research this report provides comprehensive and granular data

•Key technological advancements and market trends that shape the market

•Brand dynamics and distribution trends in order to effectively plan strategies in the forecast period 2023-2030

•Key companies operating in this market and their market share

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