Blockchain-as-a-Service Market by Organization Size, Application, Vertical

Description

List of Tables

[194 Pages Report] The Blockchain-as-a-Service Market size was estimated at USD 3.16 billion in 2023 and expected to reach USD 4.32 billion in 2024, at a CAGR 40.55% to reach USD 34.33 billion by 2030.

Global Blockchain-as-a-Service Market

KEY MARKET STATISTICS
Base Year [2023]	USD 3.16 billion
Estimated Year [2024]	USD 4.32 billion
Forecast Year [2030]	USD 34.33 billion
CAGR (%)	40.55%

Blockchain-as-a-Service (BaaS) refers to the third-party creation and management of cloud-based networks for companies building and operating blockchain applications. It functions similarly to a web host, running the back-end operation for a blockchain-based app or platform. BaaS may be utilized by businesses that leverage the benefits of blockchain technology without the need to develop and maintain their blockchain infrastructure. The applications of BaaS are diverse and span various industries, including finance, supply chain, healthcare, and identity management. End users typically range from small start-ups to large enterprises seeking to integrate blockchain into their operations without significant investment in new infrastructure or technical expertise. Key factors driving the growth of BaaS include the increasing adoption of blockchain technology in various industry verticals, the rising need for operational efficiency and transparency in business processes, and the growing demand for secure and reliable blockchain services.

Additionally, continuous investments and partnerships by key tech companies are propelling the BaaS market growth. However, the market faces certain challenges, such as concerns regarding the security of blockchain services, the lack of standardization and interoperability between different blockchain platforms, and a shortage of skilled professionals. On the other hand, the ongoing expansion of blockchain technology into new industry domains presents various opportunities within the BaaS market, including the ongoing development of hybrid blockchain technology and the integration of artificial intelligence and machine learning with blockchain technology.

Regional Insights

North America, particularly the United States, is at the forefront of the blockchain-as-a-service market due to the presence of major global technology companies and the early adoption of blockchain technologies. Various industries, including finance, healthcare, and supply chain, fuel the demand for BaaS in this region. Strategic partnerships and mergers & acquisitions among key players characterize the growth trends in this region, aiming at innovation and expansion of the BaaS portfolios. The adoption of BaaS is growing steadily, driven by the increasing recognition of blockchain's potential to improve security, transparency, and efficiency in various sectors. Countries such as Brazil and Argentina are increasingly adopting BaaS, with financial institutions and agri-businesses showing significant interest in leveraging BaaS solutions. Europe's BaaS market is thriving due to the increasing adoption of blockchain technology across various industries and the strong presence of several global financial institutions. The European Union's supportive stance on digital innovation, including blockchain, further propels market expansion. Countries such as Germany, the UK, and France are taking significant steps in integrating BaaS solutions into mainstream business processes, with an increasing number of startups also contributing to the growth momentum. The Middle East and Africa (MEA) region shows promising potential for adopting BaaS, largely stimulated by initiatives taken by governments to diversify from oil-based economies to technology-driven ones. The region harnesses blockchain for advancements in smart cities, finance, and cross-border transactions. While the market is presently nascent, increased technology penetration and awareness boost the adoption of BaaS solutions. Characterized by a high adoption rate for new technologies, the Asia-Pacific region has witnessed significant interest in BaaS. China and Japan are at the forefront of research and patent development. India, with its burgeoning tech industry, also indicates increasing BaaS adoption.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Blockchain-as-a-Service Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Blockchain-as-a-Service Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Blockchain-as-a-Service Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Alibaba Cloud International by Alibaba Group Holding Limited, Altores, Altoros, Amazon Web Services, Inc., Asta Solutions Pty Ltd., Baidu, Inc., Bitfury Holding B.V., BlockCypher Inc., Blockedge Technologies Inc. by SecureKloud Technologies, Blocko Inc., Bloq, Inc., Chainstack Pte. Ltd., Coinbase Global, Inc., Consensys Software Inc., Data Gumbo Corporation, Dragonchain, Inc., Factom, Fujitsu Limited, Globant S.A., Hewlett Packard Enterprise Company, Huawei Technologies Co., Ltd., Infosys Limited, International Business Machines Corporation, Kadena LLC, Kaleido, Inc., KrypC Technologies, Lambda256 Corporation, LeewayHertz, Moralis Web3 Technology AB, NTT DATA Corporation, Oodles Technologies Pvt Ltd., Oracle Corporation, Orbs Ltd., R3 HoldCo LLC, RYVYL Inc., Samsung SDS Co., Ltd., SAP SE, Scallop Group UAB, Seracle Ltd., SIMBA Chain, Inc., Stratis Group Ltd., Tata Consultancy Services Limited, Tech Mahindra Limited, and Wipro Limited.

Market Segmentation & Coverage

This research report categorizes the Blockchain-as-a-Service Market to forecast the revenues and analyze trends in each of the following sub-markets:

Organization Size
- Large Enterprises
- SMEs
Application
- Governance, Risk, & Compliance Management
- Identity Management
- Payments
- Smart Contracts
- Supply Chain Management
Vertical
- BFSI
- Energy & Utilities
- Government & Public Sector
- Healthcare
- Manufacturing
- Retail & eCommerce
- Transportation & Logistics
Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam
- Europe, Middle East & Africa
  - Denmark
  - Egypt
  - Finland
  - France
  - Germany
  - Israel
  - Italy
  - Netherlands
  - Nigeria
  - Norway
  - Poland
  - Qatar
  - Russia
  - Saudi Arabia
  - South Africa
  - Spain
  - Sweden
  - Switzerland
  - Turkey
  - United Arab Emirates
  - United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Blockchain-as-a-Service Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Blockchain-as-a-Service Market?

3. What are the technology trends and regulatory frameworks in the Blockchain-as-a-Service Market?

4. What is the market share of the leading vendors in the Blockchain-as-a-Service Market?

5. Which modes and strategic moves are suitable for entering the Blockchain-as-a-Service Market?

Product Code: MRR-437D4595806F

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Blockchain-as-a-Service Market, by Region

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Expanding adoption of blockchain technology across end-user sectors
  - 5.1.1.2. Growing demand for cloud-based services and scalable solutions
  - 5.1.1.3. Government initiatives and supportive regulations to promote the adoption of blockchain technology
- 5.1.2. Restraints
  - 5.1.2.1. Concerns regarding data privacy and security
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of novel technologies for smarter and secure Blockchain-as-a-Services
  - 5.1.3.2. Growing collaboration activities between market vendors, end-users, and IT providers to enhance the application of Blockchain-as-a-Services
- 5.1.4. Challenges
  - 5.1.4.1. Lack of standardization and interoperability issues
5.2. Market Segmentation Analysis
- 5.2.1. Organization Size: Expanding usage of blockchain-as-a-service among large enterprises for seamless integration
- 5.2.2. Vertical: Rising utilization of Blockchain-as-a-service in banking, financial services, & insurance (BFSI) sector for security in financial transactions
- 5.2.3. Application: Increasing application of Blockchain-as-a-Service in digital payments to streamline financial transactions
5.3. Market Trend Analysis
- 5.3.1. Robust government initiatives supplemented with presence of established service providers across North America
- 5.3.2. Growing adoption of blockchain-as-a-service (BaaS) in the telecommunication industry and government regulatory compliance and funding for blockchain technology in the Asia-Pacific region
- 5.3.3. Increasing blockchain technology startups coupled with stringent regulations for data protection in the EMEA region
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework

6. Blockchain-as-a-Service Market, by Organization Size

6.1. Introduction
6.2. Large Enterprises
6.3. SMEs

7. Blockchain-as-a-Service Market, by Application

7.1. Introduction
7.2. Governance, Risk, & Compliance Management
7.3. Identity Management
7.4. Payments
7.5. Smart Contracts
7.6. Supply Chain Management

8. Blockchain-as-a-Service Market, by Vertical

8.1. Introduction
8.2. BFSI
8.3. Energy & Utilities
8.4. Government & Public Sector
8.5. Healthcare
8.6. Manufacturing
8.7. Retail & eCommerce
8.8. Transportation & Logistics

9. Americas Blockchain-as-a-Service Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Blockchain-as-a-Service Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Blockchain-as-a-Service Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. FPNV Positioning Matrix
12.2. Market Share Analysis, By Key Player
12.3. Competitive Scenario Analysis, By Key Player
- 12.3.1. Merger & Acquisition
  - 12.3.1.1. Ripple buys crypto infrastructure startup in its second acquisition of 2023
  - 12.3.1.2. Airtel acquires strategic stake in blockchain technology startup Aqilliz
- 12.3.2. Agreement, Collaboration, & Partnership
  - 12.3.2.1. CertiK Partners with Alibaba Cloud to Bring Blockchain Security to the Cloud
  - 12.3.2.2. tell.money Partners with Scallop to Develop Blockchain Banking-as-a-Service
  - 12.3.2.3. Sui Blockchain Developer Signs Deal With Alibaba Cloud
  - 12.3.2.4. Finboot partners with Nitor Infotech to bring blockchain benefits to North American supply chains
  - 12.3.2.5. RBI to collaborate with Indian banks on blockchain based financing project
- 12.3.3. New Product Launch & Enhancement
  - 12.3.3.1. Oodles Blockchain Strengthens its Smart Contract Development Services
  - 12.3.3.2. Fujitsu launches blockchain collaboration tech to build Web3 services
  - 12.3.3.3. Alibaba Cloud to Introduce Blockchain Node Service to Facilitate Growth of Web 3.0 Ecosystem

13. Competitive Portfolio

13.1. Key Company Profiles
- 13.1.1. Accenture PLC
- 13.1.2. Alibaba Cloud International by Alibaba Group Holding Limited
- 13.1.3. Altores
- 13.1.4. Altoros
- 13.1.5. Amazon Web Services, Inc.
- 13.1.6. Asta Solutions Pty Ltd.
- 13.1.7. Baidu, Inc.
- 13.1.8. Bitfury Holding B.V.
- 13.1.9. BlockCypher Inc.
- 13.1.10. Blockedge Technologies Inc. by SecureKloud Technologies
- 13.1.11. Blocko Inc.
- 13.1.12. Bloq, Inc.
- 13.1.13. Chainstack Pte. Ltd.
- 13.1.14. Coinbase Global, Inc.
- 13.1.15. Consensys Software Inc.
- 13.1.16. Data Gumbo Corporation
- 13.1.17. Dragonchain, Inc.
- 13.1.18. Factom
- 13.1.19. Fujitsu Limited
- 13.1.20. Globant S.A.
- 13.1.21. Hewlett Packard Enterprise Company
- 13.1.22. Huawei Technologies Co., Ltd.
- 13.1.23. Infosys Limited
- 13.1.24. International Business Machines Corporation
- 13.1.25. Kadena LLC
- 13.1.26. Kaleido, Inc.
- 13.1.27. KrypC Technologies
- 13.1.28. Lambda256 Corporation
- 13.1.29. LeewayHertz
- 13.1.30. Moralis Web3 Technology AB
- 13.1.31. NTT DATA Corporation
- 13.1.32. Oodles Technologies Pvt Ltd.
- 13.1.33. Oracle Corporation
- 13.1.34. Orbs Ltd.
- 13.1.35. R3 HoldCo LLC
- 13.1.36. RYVYL Inc.
- 13.1.37. Samsung SDS Co., Ltd.
- 13.1.38. SAP SE
- 13.1.39. Scallop Group UAB
- 13.1.40. Seracle Ltd.
- 13.1.41. SIMBA Chain, Inc.
- 13.1.42. Stratis Group Ltd.
- 13.1.43. Tata Consultancy Services Limited
- 13.1.44. Tech Mahindra Limited
- 13.1.45. Wipro Limited
13.2. Key Product Portfolio

14. Appendix

14.1. Discussion Guide
14.2. License & Pricing