Global Blockchain As A Service (Baas) Market Worldwide Industry Analysis, Future Demand and Forecast to 2029 – Introspective Market Research Report

Market overview:

Global Blockchain As A Service (Baas) market size was valued at USD 2.50 billion in 2021 and is expected 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 building, managing and maintaining cloud-based networks for companies that design, develop and build blockchain applications. The emergence of the BaaS model has shown an important step in the development of blockchain technology because it is a step away from the original use case of blockchain, i.e. cryptocurrency, which means that the technology will expand to other areas as well. Essentially, BaaS allows recipients to use cloud services to build, host, and operate blockchain-based applications without having to worry about the technical complexity, cost, and operational costs of building, configuring, maintaining, and deploying a blockchain. BaaS offers several pre-built applications and services that can be used to build a variety of blockchain-based applications, including distributed ledgers, digital identity management systems, and supply chain management systems.

The report contains a crucial chapter

• Patent analysis
• Regulatory framework
• Technology roadmap
• BCG matrix
• Analysis of heat maps
• Price development analysis
• Investment analysis
• Company profiling and competitive positioning
• Industry value chain analysis
• Market dynamics and factors
• Porter’s five forces analysis
• Analysis of stamps
• SWOT analysis

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Market dynamics and factors:

The increasing use of blockchain technology in various industries is driving the demand for BaaS solutions as organizations seek to leverage the benefits of blockchain without significant upfront investment or technical complexities. Blockchain technology offers improved security and transparency by providing a decentralized and immutable ledger. This feature attracts various industries, such as finance, supply chain, healthcare and government, which require secure and transparent transactions. Implementing blockchain technology internally can be costly and complex for organizations.

The convergence between blockchain technology and the Internet of Things (IoT) offers significant opportunities for various industries. The combination of blockchain and IoT can improve data security and integrity in IoT ecosystems. Blockchain’s decentralized and immutable ledger ensures that data generated by IoT devices is stored securely and cannot be tampered with. This is crucial for industries such as healthcare, supply chain and smart cities, where data integrity and privacy are essential.

Top Key Players Covered in Blockchain as a Service (BaaS) Market:

• Amazon Web Services (AWS) (US)
• Accenture (Ireland)
• Altoros (USA)
• Baidu (China)
• BitFury (Netherlands)
• BLOCKO (South Korea)
• Capgemini (Paris)
• Chainstack (Singapore)
• Cognizant (USA)
• Consensys (USA)
• Crypto APIs (Bulgaria)
• Cryptowerk (USA)
• Deloitte (UK)
• Dragonchain (USA)
• Ey (United Kingdom)
• HPE (USA)
• Huawei (China)
• IBM (USA)
• Infosys (India)
• Microsoft (USA)
• Morpheus Labs (Singapore)
• Oracle (USA)
• Oodles Technologies (India)
• R3 (USA)
• SAP SE (Germany)
• Ship Chain (South Carolina)
• VeChain Foundation (China)
• Wipro (India) and other major players.

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The Blockchain as a Service (BaaS) Market Report Highlights:

• By component, the Tools segment is expected to lead the growth of the Blockchain as a Service (BaaS) market in the forecast timeframe. Due to the demand for blockchain development and management tools, such as frameworks, software development kits (SDKs), and smart contract platforms.
• By application, the Supply chain Management segment is expected to hold the highest share of the Blockchain as a Service (BaaS) market over the forecast period. blockchain technology’s potential to improve supply chain transparency, traceability and efficiency is driving the adoption of supply chain solutions.
• By end users, the BFSI segment is expected to hold the highest share of the Blockchain as a Service (BaaS) market over the forecast period. The growing interest of the financial industry in leveraging blockchain technology to streamline operations, improve security and enable innovative financial services.
• The North America region is expected to hold the highest share of the Blockchain as a Service (BaaS) market over the forecast period. North America is a key market for BaaS adoption, driven by factors such as advanced technology infrastructure, supportive regulations, and a strong presence of blockchain technology providers and users.

Important industrial developments:

In May 2023, IBM is launching a $100 million partnership with global universities to develop new technologies toward a 100,000 Qubit quantum-centric supercomputer.

Blockchain as a Service (BaaS) Market Segmentation:

By component

Upon application

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

By end users

• BFSI
• Health and life sciences
• The authorities
• Retail and consumer goods
• Other end user

For this report, Introspective Market Research has segmented the Blockchain as a Service (BaaS) market based on region:

Regional Outlook (Revenue in Millions of Dollars; Volume in Units, 2022-2028)

• Eastern Europe
  • Bulgaria
  • Czech Republic
  • Hungary
  • Poland
  • Romania
  • The rest of Eastern Europe

• Western Europe
  • Germany
  • Great Britain
  • France
  • The Netherlands
  • Italy
  • Russia
  • Spain
  • The rest of Western Europe

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

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

• South America
  • Brazil
  • Argentina
  • The rest of SA

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Scope of the report:

The latest research on the Blockchain as a Service (BaaS) market provides a comprehensive overview of the market for the years 2022 to 2028. It provides a comprehensive picture of the global Blockchain as a Service (BaaS) industry, taking into account all the important industry trends, market dynamics, competitive landscape and market analysis tools such as Porter’s five forces analysis, industry value chain analysis and PESTEL analysis of the Blockchain as a Service (BaaS) market. The report also contains important chapters such as patent analysis, regulatory framework, technology roadmap, BCG matrix, heat map analysis, price trend analysis and investment analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their business. The study is written with a specific goal in mind to provide business insight and advice to help clients make smart business decisions and achieve long-term success in their particular market areas.

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Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to helping our clients grow and successfully impact the market. Our team at IMR is ready to help our clients flourish their business by providing strategies to achieve success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of market trends. We help our customers to think differently and build a better tomorrow for us all. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide decisive advice. We not only offer intelligence solutions, but we help our customers with how they can achieve their goals.

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