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

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)

· Accenture (Ireland)

· 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