Blockchain as a Service (BaaS) Market Growing with Value USD 57.48 Billion and Latest Trends 2022-2028| Deloitte, Oracle

Market Overview:
Global Blockchain as a Service (BaaS) Market size was valued at USD 2.50 Billion in 2021, and is projected to reach USD 57.48 Billion by 2028, growing at a CAGR of 56.5% from 2022 to 2028.

Blockchain-as-a-service is best suited for businesses that outsource their technological needs and do not have in-house blockchain experts. Due to the flexibility of the transactions and the fact that it is supported by cost-effective and secure features, the market is expanding among SMEs. The need for blockchain-as-a-service options is driven by the need for effective blockchain services to secure the identity of digital entities and online authentication of personal identities. Additionally, blockchain enables the use of "smart contracts" and other tools that might potentially automate laborious procedures like processing claims, complying with regulations, and distributing a will's contents. These are a few of the appealing characteristics that are motivating the BFSI sector to use blockchain.

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Market Dynamics:
Driver:
The increasing deployment of distributed ledger technology (DLT) built on sophisticated analytics is one of the market's developing drivers. DLT is a decentralized system that uses sophisticated analytics and safe protocols to record transactions. Advanced analytics-based distributed ledger technology enables the decentralized secure operation of the digital currency payment system. The centralization of processing by mediators is reduced as a result of this operation. DLT-based blockchain services facilitate monitoring and trading of digital currency.

Opportunities:
One of the main market trends for blockchain-as-a-service is anticipated to be the rising demand for blockchain services based on cloud platforms among large organizations. Cloud-based BaaS services enable users to scale applications like security management systems, enterprise resource planning (ERP) systems, and others. Key market players are concentrating on developing blockchain-as-a-service tools and services based on cloud platforms by concluding strategic mergers and partnerships in order to meet the growing demand for BaaS services.

Market Segments:
By Component
• Tools
• Services
By Application
• Supply Chain Management
• Payments
• Risk & Compliance Management
• Others
By End Users
• BFSI
• Healthcare & Life Sciences
• Government
• Retail & Consumer Goods Other End-User

Regional Analysis In Blockchain as a Service (BaaS) Market
The market for Blockchain as a Service is rapidly growing in North America as a result of rising investment in blockchain technology. Numerous blockchain development projects have been started in the US in recent years, which has accelerated the market's expansion. Additionally, this region is home to a large number of small, medium-sized, and technology-based businesses, which has led to the widespread development and deployment of BaaS solutions there. Additionally, there has been significant progress in the integration of public critical services with BaaS solutions, which is predicted to open up new growth opportunities for the local BaaS market in the coming years.
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

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Top Key Players Covered In Blockchain as a Service (BaaS) Market
• Baidu (China)
• Capgemini (Paris)
• Cognizant (US)
• Consensys(US)
• Deloitte (UK)
• Ey (UK)
• IBM (US)
• Microsoft (US)
• SAP SE (Germany)
• Wipro (India)
• Infosys (India)
• Altoros (US)
• VeChain Foundation (China)
• Amazon Web Services (AWS) (US)
• R3 (US)
• Oracle (US)
• Huawei (China)
• HPE (US)
• BLOCKO (South Korea)
• Dragonchain (US)
• BitFury (Netherlands)
• Crypto APIs (Bulgaria)
• Oodles Technologies (India)
• Chainstack (Singapore)
• Cryptowerk (US)
• Morpheus Labs (Singapore)
• Shipchain (South Carolina), and Other Major Players.

Key Industry Development In The Blockchain as a Service (BaaS) Market
In May 2022, The EY organization declared the production release of the third generation of EY Blockchain Analyzer: Reconciler. This updated version has been migrated into blockchain.ey.com and is now available for the first time to EY non-audit clients and continues to support the EY Audit teams. The tool offers various features including importing enterprise records, reconciling off-chain enterprise records with on-chain transactions and tracking wallet balances.

In July 2022, Blockchain-as-a-Service (BaaS) platform, Seracle has declared the introduction of Web 3.0 non-fungible token (NFT) infrastructure for brands and corporates over the sectors to help them create their own customised NFT marketplaces.

In October 2021, Blockedge Technologies Inc. introduces its 'Plug & Play' Blockchain-as-a-Service (BaaS) Platform for Automotive and Supply Chain Markets. Blockedge offers a simplified plug-and-play BaaS platform that stands in contrast with built-from-scratch manual solutions.

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Table Of Content
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2: Executive Summary

Chapter 3: Growth Opportunities By Segment
 3.1 By Component
 3.2 By Application
 3.3 By End-User

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Blockchain as a service Market by Component
 5.1 Blockchain as a service Market Overview Snapshot and Growth Engine
 5.2 Blockchain as a service Market Overview
 5.3 Tools
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Tools: Geographic Segmentation
 5.4 Services
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Services: Geographic Segmentation
Continue.
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