Global Blockchain as a Service Market Report Overview:
According to the latest market study by MarkNtel Advisors titled “Global Blockchain as a Service Market Size, Share, Trends, Growth, Opportunity Analysis 2022-2027” presents a thorough examination of market drivers, opportunities and challenges.
Utilizing a quantitative approach, it offers precise insights into market size, share, and growth. Crafted by industry experts, the report delves into consumption patterns, geographical analysis, and competitive landscapes. Its objective is to furnish valuable insights for clients seeking to comprehend and leverage market dynamics. With a dual focus on historical achievements and future projections, it furnishes a nuanced understanding of the market terrain.
Global Blockchain as a Service Market Insight:
The Global Blockchain as a Service Market is projected to grow at a CAGR of around 46.75% during the forecast period, 2022-27.
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Growth Opportunity: Application of Blockchain Technology in the Automotive Sector
Blockchain-based solutions provide several tangible benefits to the end-use industry since they offer operational transparency. Due to complex supply chains, a multi-stage manufacturing process, regulatory framework, car dealership network, and aftersales services are some of the factors that necessitated the adoption of blockchain technology in the automotive sector. Further, the application of blockchain as a service in the automotive industry has been growing notably.
This can assist the automotive manufacturers in enhancing their supply chain networks & creates new ways for consumers to track vehicle history, submit insurance claims, share ownership, etc., while reducing human intervention & control.
Therefore, the automotive industry would be a lucrative opportunity area for blockchain as a service in the upcoming years.
Competitor Insight: Blockchain as a Service Market
This report focuses on major market participants like:
- IBM Corporation
- SAP SE
- Oracle
- Microsoft Corporation
- Alibaba
- Baidu, Inc.
- Accenture
- NTT Data Corporation
- Infosys Limited
- Stratis Group
- VMware, Inc.
- Huawei Cloud
- Tata Consultancy Services (TCS)
- Wipro Limited
- R3 (Corda)
- Others (Hewlett Packard Enterprise, VeChain Foundation, Oodles Technologies, etc.)
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Segmentation Summary: Blockchain as a Service Market
This segmentation analysis outlines prominent sections in the report’s table of contents. Each segment undergoes thorough analysis, including sub-segments, to showcase both current and historical market sizes. The analysis underscores investment opportunities for rapid growth, particularly in the Blockchain as a Service Market, with notable highlighting on:
-By Organization Size
- Small & Medium Enterprises
- Large Enterprises
Of them all, large enterprises captured a major share in blockchain as a service during the historical period. The major factors driving the demand for BaaS in large organizations include decentralization of business processes, data security, transparency, and reduced operational costs. The increasing adoption of BaaS by large-scale players, such as automotive manufacturers, banking & financial institutions, and healthcare platforms, among others, have enormous resources to manage & operate. Therefore, to streamline the transactional & supply chain process, these enterprises have become the primary users of BaaS. It also paved the way for large organizations to increase transaction speed as well as build trust between transacting parties.
-By Offering
- Tools
- Services
-By Application
- Supply Chain Management
- Smart Contracts
- Financial Payments
- Others (Identity Management, Governance, Risk & Compliance (GRC) Management)
-By End-User
- BFSI
- IT & Telecom
- Retail & Commerce
- Healthcare & Life Sciences
- Automotive
- Others (Energy & Utility, Media & Entertainment, etc.)
Blockchain as a Service Market Geographical Reach:
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
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Key Questions Addressed:
- Factors Driving Market Growth: Understand the primary drivers propelling the Blockchain as a Service market forward.
- Access to Reliable Reports: Learn where to access dependable market reports for informed decision-making.
- Growth Projections: Gain insights into anticipated growth projections for the coming years.
- Geographical Hotspots: Identify geographical poised for significant market growth soon.
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