Market Insights Reports delivers key insights on the Blockchain-as-a-Service Market in its latest report titled, “Blockchain-as-a-Service Market – Growth, Trends, COVID-19 Impact, And Forecasts (2021 – 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The Blockchain-as-a-Service Market registered a CAGR of 15.2% over the forecast period 2021 – 2026.
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Top Key Players in the Global Blockchain-as-a-Service Market: Microsoft Corporation(NAS: MSFT), Hewlett-Packard Enterprise Company(NYS: HPE), IBM Corporation, SAP SE, Stratis, Amazon Web Services, Oracle Corporation, Huawei Technologies Co. Ltd, Blockstream Inc., PayStand Inc.
– March 2019 – Tata Consultancy Services (TCS) collaborated with Microsoft and R3 technology (R3), to adopt a scalable cross-industry blockchain platform. Some of the anchor solutions that are being built on these platforms include skills marketplace, anti-counterfeiting of luxury goods, affordable mobility, and shared telecom infrastructure for 5G, and loyalty and rewards programs.
– February 2019 – IBM made the IBM Food Trust solution “generally available”, and the latest company to experiment with this solution is Albertsons Companies, the world’s second-largest supermarket company, by sales.
Key Market Trends
BFSI is Expected to Occupy the Largest Market Share
– Blockchain-as-a-service offerings are revolutionizing the BFSI industry, as banks and financial service companies are among the most heavily invested enterprises exploring blockchain technology.
– This is due to the many, highly valuable decentralized applications of this technology, thereby giving rise to new business models in various areas, such as cross-border payments, remittance, exchanges, internet banking, trade finance, Know Your Customers (KYC), and risk and compliance.
– However, it is still in the nascent stage in the market, owing to which the banks and financial institutions are exploring the viable possibilities of this technology, and investing in the same, which is likely to boost the market growth.
The report offers an in-depth assessment of the growth and other aspects of the Blockchain-as-a-Service Market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Asia-Pacific is Expected to Witness the Highest Growth Rate
– Since May 2018, the Chinese government has been promoting the adoption of blockchain technology, due to its multiple advantages. The majority of mining operations take place in China.
– A leading global ICT (information and communications technology) solutions provider, Huawei, announced the launch of its hyperledger-based blockchain service in April 2018, in China, to enable companies to develop smart contracts on top of a distributed ledger network for several use-case scenarios.
– Moreover, in Thailand, the government positively accepted cryptocurrency projects. Thai regulators established cryptocurrency licenses in 2018, to enable exchanges and ICOs. Clear and specific guidelines have been drawn for foreign blockchain businesses.
– Furthermore, the South Korean government also spent USD 880 million on blockchain development for 2019. Owing to all these factors, Asia-Pacific is expected to witness the fastest growth rate over the forecast period.
This Blockchain-as-a-Service Market report addresses:
– The Market size from 2016-2021
– Expected market growth until 2026
– Forecast of how market drivers, restraints, and future opportunities will affect
– Segment and regions that will drive or lead market growth and why
– Comprehensive mapping of the competitive landscape
– In-depth analysis of key sustainability strategies adopted by market place
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Post Covid-19 Analysis:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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