New York, According to a new market research report published by Global Insight Services “Blockchain as a Service (BaaS) Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
BaaS is a cloud-based service that allows customers to build, host, and use their own blockchain applications, smart contracts, and functions on a cloud platform. The service provides a complete infrastructure for blockchain application development, including a virtual private network, a distributed ledger, a smart contract compiler, and a blockchain explorer. BaaS also offers a number of pre-built applications and services that can be used to create a variety of blockchain-based applications, including distributed ledgers, digital identity management systems, and supply chain management systems.
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Key Trends
There are a few key trends in Blockchain as a Service technology. First, we are seeing a move towards more centralized solutions. This is because many organizations are looking for ways to reduce costs and increase efficiency. Centralized solutions offer a number of advantages, including the ability to scale more easily and the ability to offer more features and functionality.
Second, we are seeing a trend towards more private and permissioned blockchains. This is because there is a growing recognition of the need for privacy and security when it comes to storing and managing data. Private and permissioned blockchains offer a number of advantages, including the ability to control who has access to data and the ability to ensure that data is only accessible to authorized users.
Key Drivers
The key drivers of Blockchain as a Service (BaaS) market are the increasing demand for cloud-based services, the need for faster and more efficient transactions, and the growing adoption of blockchain technology by enterprises.
The demand for cloud-based services is increasing as enterprises move away from traditional on-premise solutions. Cloud-based solutions are more flexible and scalable, and offer pay-as-you-go pricing models that can save enterprises money.
The need for faster and more efficient transactions is driving the adoption of blockchain technology. Blockchain-based solutions can settle transactions in minutes or seconds, compared to the days or weeks it can take with traditional systems.
Market Segmentation
The market is segmented by offering, organizational size, end-user and region. By offering, the market is segmented into tools and services. By organizational size, the market is bifurcated into SME’s and Large Enterprises. By end-user, the market is classified into BFSI, FMCG, healthcare, manufacturing and others . By region, the market is segmented into North America, Europe, Asia-Pacific and rest of the world.
Key Players
The global market including some of the major players such as Huawei Technologies Co. Ltd, Amazon Web Services, Oracle Corporation, Baidu, Waves Platform, Hewlett Packard Enterprise, IBM, SAP, Stratis, and Microsoft.
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Reasons to buy Blockchain as a Service (BaaS) Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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