Blockchain-as-a-Service Market was valued at US$ 1.32 Bn. in 2022 and the total revenue is expected to grow at 60.1% of CAGR through 2023 to 2029, reaching nearly US$ 35.8 Bn.
Market Overview
The Blockchain-as-a-Service Market is growing at faster with substantial growth rates over the previous few years and it is estimated that the Market can grow considerably within the forecasted period i.e., 2022 to 2029.
The report provides Blockchain-as-a-Service Market drivers and restraints. The report helps in recognizing the drivers that are driving the Market growth and discovering ways to use these drivers as strengths. Restraints can help you to identify characteristics that are restraining the Market and help you identify them and decrease or improve them before they become an issue. Opportunities are created by external components like changes in the Market, and new consumer trends. This will help you to understand elements that will influence your potential to take advantage of your opportunities. Challenges could create hurdles for your business. The report helps you to identify challenges and ways to encounter them depending on the Market scenario.
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Market Scope
The report provides overall Market insights for manufacturers, suppliers, distributors, and investors in the global Blockchain-as-a-Service Market. The information and data provided in the report may be used by all stakeholders, students, consulting firms, research institutes, industry professionals, journalists, business researchers, etc. in the global Blockchain-as-a-Service Market.
The report also includes factors like Market segmentation, CAGR (Compound Annual Growth Rate), Year-on-Year growth (percent), Porter’s five force model, absolute USD potential, and expected Market cost structure.
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Blockchain-as-a-Service Segmentation Analysis
The Blockchain-as-a-Service market is divided into SMEs and Large companies based on the size of the organisation. During the projected period, SMEs are anticipated to dominate the blockchain-as-a-service market. Small businesses are especially drawn to blockchain technology. It makes it simple and affordable for users to send and receive payments, access investing and savings products, and establish credit histories.
Increasing SME growth through increased access to this technology can boost business benefits and economic development. Over 50% of all jobs worldwide are held by small and medium-sized firms (SMEs), which make up about 90% of all businesses. 7 out of 10 people are employed by formal-sector SMEs in emerging economies, which contribute up to 40% of the country’s income.
One of the biggest obstacles for SMEs in the informal economy, according to the World Bank’s Enterprise Survey, is a lack of capital. This might negatively affect how they operate and how quickly they grow. While there is now a $3.7 trillion credit supply, developing nations have a $8.9 trillion need for SME loans.
Small and medium-sized businesses can gain from blockchain in a number of ways, including trust, speed, better safety and security, risk reduction through less identity fraud and hacking, and time and money savings. This might help them get past their issues with cash flow, bureaucracy, and international expansion because blockchain systems are globally accessible.
Blockchain-as-a-Service Key Players
1. Baidu
2. Capgemini
3. Wipro
4. Cognizant
5. IBM corporation
6. Huawei
7. lntinfotech
8. Infosys
9. NTT Data
10. Pwc
11. KPMG
12. OpenXcell
13. Alibaba
14. SAP
15. Microsoft
16. Accenture
17. Mphsis
18. Amazon
19. Oracle
20. Deloitte IBM
Regional Analysis
The study delves into the Blockchain-as-a-Service Market in depth, segmenting it into regions. For the analysis, a review of the provincial Market involved with the objective Market, as well as results related to the objective Market, is provided. The review evaluates the Market in North America, South America, Europe, Asia Pacific (APAC), Africa, and the Middle East on a local and country-by-country basis. The Market in each region is thoroughly investigated, enabling for the identification of regional Market trends, restrictions, and development opportunities.
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