Dublin, Aug. 30, 2021 (GLOBE NEWSWIRE) — The “Global Blockchain-as-a-Service Market (2021-2026) by Component, Business Application, Organization Size, Industry, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Blockchain-as-a-Service Market is estimated to be USD 2.31 Bn in 2021 and is expected to reach USD 15.8 Bn by 2026, growing at a CAGR of 46.9%.
Amongst small and medium firms, there is an increase in the adoption of blockchain-as-a-service (BaaS) tools and services to create their blockchain application, payment system, and smart contracts, which drives the market growth during the predicted period.
Organizations are leveraging numerous advantages of BaaS services, comprising security, high immutability capability, cost-effectiveness, secure decentralization, and others. Further, the evolvement of cryptocurrency and growing investment in several projects based on blockchain services technology by nations such as the U.S., Japan, the U.K, and others is likely to propel the market size during the forecast period.
One of the evolving market drivers is the escalating adoption of distributed ledger technology (DLT) based on advanced analytics. Blockchain services based on the Distributed Ledger Technology (DLT) system assist in monitoring and trading through digital currency and offering data sharing in real-time in a secure mode.
However, uncertain regulatory & government standards and shortage of funds & investments are anticipated to restrict BaaS market growth.
- By Component, the market is classified as Tools and Services. Amongst the two, the Services segment is estimated to hold the highest market share during the forecast period.
- By Business Application, the market is classified as Supply Chain Management, Payments, Identity Management, Smart Contracts, Governance, Risk, And Compliance Management (GRC), and Others. Amongst all, the Payments segment is estimated to hold the highest market share during the forecast period.
- By Organization Size, the market is classified as Large Enterprises and Small & Medium-Sized Enterprises (SMEs). Amongst the two, the Large Enterprises segment is estimated to hold the highest market share during the forecast period.
- By Industry, the market is classified as Banking, Financial Services, And Insurance (BFSI), Healthcare and Life Sciences, Transportation and Logistics, Retail and eCommerce, Government and Public Sector, Manufacturing, Energy and Utilities, Telecom and I.T., Media And Entertainment, and Others. Amongst all, the Telecom and I.T. segment is estimated to hold the highest market share during the forecast period.
- By Geography, North America is projected to lead the market.
- Accenture Introduces Blockchain Procurement Solution. – 22nd January 2020
Some of the companies covered in this report are International Business Machines Corporation (IBM), Microsoft, Oracle, SAP, Waves Platform, etc.
Key Topics Covered:
1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.4 Years Considered
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.2 Market Size and Segmentation
3.3 Market Outlook
4 Market Influencers
4.1.1 Cost-Effective Bandwidth, Computing, and Data Storage
4.1.2 Rising Need for Automation, Security, and Transparency in Transactions
4.1.3 Growing Need to Reduce Risk and Complexity
4.2.1 Threats of Cyber-Attacks
4.2.2 Technical Complexities and Operational Overhead
4.3.1 Increasing Investment in Blockchain Technology
4.3.2 Increasing Adoption Across Various Industrial Verticals
4.4.1 Lack of Regulatory Standards
4.4.2 Low Awareness of Blockchain Technology
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter’s Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
6 Global Blockchain-as-a-Service Market, By Component
7 Global Blockchain-as-a-Service Market, By Business Application
7.2 Supply Chain Management
7.4 Identity Management
7.5 Smart Contracts
7.6 Governance, Risk, And Compliance Management (GRC)
8 Global Blockchain-as-a-Service Market, By Organization Size
8.2 Large enterprises
8.3 Small and Medium-Sized Enterprises (SMEs)
9 Global Blockchain-as-a-Service Market, By Industry
9.2 Banking, Financial Services, and Insurance (BFSI)
9.3 Healthcare and Life Sciences
9.4 Transportation and Logistics