Blockchain as a Service (BaaS) Market Worth $11,519 Million by 2026, Growing at a CAGR of 62.2%: Report by MarketsandMarkets™

According to the report by MarketsandMarkets, the global Blockchain as a Service (BaaS) market is estimated to reach USD 11,519 million by 2026, with a CAGR of 62.2% during the forecast period 2020-2026

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 from MarketsandMarkets™. Blockchain technology offers various benefits, such as traceability, smart contracts and secure transactions. Traceability is a difficult and challenging task, which can be automated, simplified and accelerated with the effective use of blockchain technology and 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

The scope of this report covers the analysis of the BaaS market since 2016, based on modern 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. key players in the overall managed security services market. By region, the Asia Pacific (APAC) BaaS market is expected to grow at the highest CAGR during the forecast period. Countries in the region have witnessed a significant increase in the use of BaaS solutions and services. This growth can be attributed to the rise in technological innovations, rapid urbanization, digitization and companies moving towards automation and digitization of supply chain processes, the BaaS market is witnessing high growth opportunities in this region.

The story continues

The increase in demand for demand management solutions among enterprises and an increase in the use of BaaS solutions in grocery, retail, e-commerce, healthcare and pharmaceutical companies is expected to increase the growth of the BaaS market. In addition, the BaaS market is expected to witness rapid growth worldwide due to various factors such as the growing 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 global suppliers Blockchain as a service market includes 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 estimated market value of the global blockchain as a service market?

The global blockchain as a service market is estimated 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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