Blockchain as a Service Market to Grow at 90.1% CAGR to 2023 | IBM, Microsoft , Oracle , SAP , Waves Platform, HPE , Baidu , Stratis , AWS , Huawei and Othetrs
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The Global Blockchain as a Service(BaaS) Market to grow from US$ 623.0 Million in 2018 to US$ 15,455.0 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 90.1% during the forecast period. The BaaS market has grown rapidly, due to the need to lower risks, complexities, and increase efficiency along with the low cost of bandwidth, data storage, and computing. These factors are expected to drive the adoption of the blockchain technology.
#Complete report on Blockchain Government Market spread across 178 pages, profiling 25 companies and supported with tables and figures. Access Research at https://www.reportsnreports.com/purchase.aspx?name=1540707
The Blockchain as a Service Market has grown rapidly, due to the need to lower risks, complexities, and increase efficiency along with the low cost of bandwidth, data storage, and computing. These factors are expected to drive the adoption of the blockchain technology. However, uncertain regulatory and compliance environment is expected to limit the market growth.
The supply chain management segment is estimated to hold the largest market share in 2018. By leveraging the benefits of BaaS offerings, organizations drive their supply chain processes with better resource allocation, maximized productivity, and reduced costs. The manufacturing industry is expected to grow at the highest CAGR during the forecast period, as BaaS offerings ease various manufacturing processes by maintaining and aggregating records, which help boost the efficiency by ensuring proper utilization of workforce.
“North America is expected to account for the largest market share, while Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period”
North America is estimated to have the largest market size in 2018 followed by Europe, owing to technology developments in this region. North America is an early adopter of technology trends. Being a hub for innovations, combined with its developed capital markets and financial setup, North America presents strong opportunities for BaaS vendors to expand their presence locally. The adoption of BaaS offerings is expected to increase in APAC and Latin America.
The objective of the report is to define, describe, and forecast the market trends based on components, business applications, organization size, industry, and region. The objective is to provide detailed information related to the major factors, such as drivers, restraints, opportunities, and challenges, influencing the market growth.
#Target Audience for Blockchain as a Service Market : Cloud Service Providers (CSPs), Blockchain technology providers, Managed Service Providers (MSPs), System integrators, End-users, Third-party providers, Value-Added Resellers (VARs), Support and maintenance service providers, Government agencies, Consultants/ consultancies/ advisory firms.
#Top Key Players in the “Blockchain as a Service Market” include are IBM (US), Microsoft (US), Oracle (US), SAP (Germany), Waves Platform (Russia), HPE (US), Baidu (China), Stratis (UK), AWS (US), Huawei (China), KPMG (Netherlands), Accenture (Ireland), PwC (UK), Infosys (India), TCS (India), TO THE NEW (India), Capgemini (France), Deloitte (US), Cognizant (US), EY (UK), NTT Data (Japan), ConsenSys (US), Wipro (India), L&T Infotech (India), andMphasis (India)
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#Competitive Landscape of Blockchain as a Service Market:
2 Competitive Scenario
2.1 New Product Launches and Product Upgradations
2.2 Partnerships and Collaborations
2.4 Business Expansions
3 Blockchain as a Service Market: Prominent Players
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