Global Blockchain as a Service (BaaS) Market Key Players, Size, Share, Demands, Trends, Covid-19 Impact Analysis and Forecasts to 2026

The global post-COVID-19 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 2020–2026. The major growth drivers for the market include increasing demand for BaaS due to COVID-19 outbreak, growing need for supply chain transparency across verticals and need to reduce risk and complexities and increase in the efficiency of blockchain solutions. However, uncertain regulatory status and standards may restrain the market growth.

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Among offering, services segment to grow at the highest CAGR during the forecast period
With the increasing adoption of BaaS tools across major end users, the demand for supporting services is also increasing among enterprises. These services are also useful for companies that do not have the internal budget or analytical skills to implement and manage the BaaS platform. The BaaS market by service is segmented into technology advisory and consulting, development and integration, and support and maintenance. With the increased adoption of blockchain tools, the demand for these services is also expected to increase at a fast pace, as services help in the deployment of BaaS tools. These services help in reducing costs, increasing overall revenue, and improving the performance of agents as well as enable enterprises to track, evaluate, and analyze the requirements to make informed decisions. Hence is expected to grow at the highest CAGR.

Large enterprises segment to hold a larger market size during the forecast period
The reduction in infrastructure costs, improvement in business functioning, and sustainability in the intense competition are the key factors that are projected to drive the adoption of BaaS in large organizations. The investments done by large enterprises in advanced technologies for increasing productivity and efficiency of the company is also a key factor that is projected to drive the adoption of BaaS in large enterprises.

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Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
Initiatives taken by APAC countries such as China toward building a national network for BaaS to create decentralized applications and tokens would drive the adoption of blockchain across SMEs. The increasing demand for high-value, low-cost technological solutions for managing complex business processes, such as operations, supply chain, and identity management, is expected to fuel the need for BaaS tools and services across the APAC region. China, India, Australia, and Singapore are witnessing growth in the number of startups in cryptocurrency and blockchain technology. Hence, organizations have started joining various conferences to brainstorm and understand the value of blockchain. The increased shift of APAC enterprises toward leaner and agile supply chains with end-to-end visibility by the adoption of the latest technologies is also one of the biggest drivers of BaaS in the region.

• By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%
• By Designation: C-Level Executives: 35%, Directors: 25%, Others: 40%
• By Region: North America: 45%, Europe: 20%, APAC: 30%, Rest of World: 5%

The report includes the study of the key players offering BaaS solutions and services. It profiles major vendors in the global BaaS market, including IBM (US), Microsoft (US), SAP SE (Germany), Amazon Web Services (AWS) (US), R3 (US), Oracle (US), Huawei (China), HPE (US), 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.

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Research coverage
The report segments the global BaaS market by offering, application, organization size, end user, and region. The offering segment comprises platform and services. The application segment comprises SCM, Smart Contracts, Identity Management, Payments, GRC Management, Others (Trade Finance and Data Storage). The organization size segment comprises SMEs and large Enterprises. By end user, BaaS market includes BFSI, FMCG, Healthcare, Manufacturing, Retail and eCommerce, Transportation and Logistics, Government and Public Sector, Energy and Utilities, Media and Entertainment, and Others (Telecom and IT, Hospitality, Real Estate, and Agriculture). The report covers the BaaS market with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA) and Latin America.

The report would help the market leaders and new entrants in the global BaaS market in the following ways:
• The report segments the market into various sub segments. Hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its sub segments. The market numbers are split further across applications and regions.
• It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
• It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.

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