Chicago, April 27, 2023 (GLOBE NEWSWIRE) -- The Blockchain as a Service (BaaS) Market size to grow from USD 632 million in 2020 to USD 11,519 million by 2026, at a Compound Annual Growth Rate (CAGR) of 62.2% during the forecast period, according to a new report by MarketsandMarkets™. Blockchain technology provides various benefits, such as traceability, smart contracts, and safe transactions. Traceability is a difficult and challenging task, which can be automated, simplified, and accelerated with the efficient use of blockchain technology and the corresponding electronic tracking technologies, such as Wi-Fi, Bluetooth Low Energy (BLE), and Radio Frequency Identification (RFID).
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267 - Tables
52 - Figures
271 - Pages
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Scope of the Report
| Report Metrics | Details |
| Market size value in 2020 | USD 632 Million |
| Market size value in 2026 | USD 11,519 Million |
| Growth rate | CAGR of 62.2% |
| Blockchain as a Service Market Drivers |
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| Blockchain as a Service Marke Opportunities |
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| Segments covered | Offering (tools and Services), application, organization size, end user, and Region |
| Geographies covered | North America, Europe, APAC, MEA, and Latin America |
| Companies covered | IBM (US), Microsoft (US), SAP (Germany), AWS (US), Oracle (US), Huawei (China), R3 (US), HPE (US), Accenture (Dublin), Wipro (India), Infosys (India) and many more. |
The scope of this report covers the analysis of the BaaS market since 2016, based on contemporary market trends and developments, and its potential growth from 2020 to 2026. It provides detailed market trends, vendors’ market shares, market size, forecasts, and analysis of key players in the managed security services overall market. By region, the BaaS market in the Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period. Countries in the region have been witnessing a significant rise in the adoption of BaaS solutions and services. This growth can be attributed to the increase in technological innovations, rapid urbanization, digitalization, and enterprises moving towards automation and digitization of supply chain processes, the BaaS market is witnessing high growth opportunities in this region.
The surge in need for demand management solutions among enterprises and an increase in the adoption of BaaS solutions in FMCG, retail, eCommerce, healthcare, and pharmaceutical companies are expected to boost the growth of the BaaS market. Additionally, BaaS market is expected to witness rapid growth worldwide due to various factors, such as the increasing need for supply chain transparency and better security than conventional systems, along with the growing use of blockchain technology to create transparent and decentralized SCM processes. However, the lack of awareness about blockchain technology and the uncertain regulatory status and standards may hinder the growth of the market.
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Major vendors in the global Blockchain as a Service Market include IBM (US), Microsoft (US), SAP SE (Germany), Amazon Web Services (AWS) (US), R3 (US), Oracle (US), Huawei (China), HPE (US), Accenture (Ireland), Wipro (India), Infosys (India), BitFury (Netherlands), Factom (US), LeewayHertz (US), Altoros (US), VeChain Foundation (China), Salesforce (US), OpenXcell (US), Oodles Technologies (India), BLOCKO (South Korea), Dragonchain (US), Kaleido (US), Bloq (US), Chainstack (Singapore), Cryptowerk (US), Morpheus Labs (Singapore), Shipchain (South Carolina), Crypto APIs (Bulgaria) etc.
Frequently Asked Questions (FAQ)
What is the projected market value of the global blockchain as a service market?
The global market for blockchain as a service is projected to reach USD 11,519 million.
What is the estimated growth rate (CAGR) of the global blockchain as a service market for the next five years?
The global blockchain as a service market is projected to grow at a Compound Annual Growth Rate (CAGR) of 62.2% from 2020 to 2026.
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