How big is the Blockchain-as-a-Service Market?

The Blockchain-as-a-Service Market size is expected to reach USD 1.50 billion in 2024 and grow at a CAGR of 17.5% to reach USD 3.37 billion by 2029. Read More

What is the current Blockchain-as-a-Service Market size?

In 2024, the Blockchain-as-a-Service Market size is expected to reach USD 1.50 billion. Read More

Who are the key players in Blockchain-as-a-Service Market?

Microsoft Corporation, Hewlett-Packard Enterprise, IBM Corporation, SAP SE and Stratis are the major companies operating in the Blockchain-as-a-Service Market. Read More

Which is the fastest growing region in Blockchain-as-a-Service Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Blockchain-as-a-Service Market?

In 2024, the North America accounts for the largest market share in Blockchain-as-a-Service Market. Read More

What years does this Blockchain-as-a-Service Market cover, and what was the market size in 2023?

In 2023, the Blockchain-as-a-Service Market size was estimated at USD 1.28 billion. The report covers the Blockchain-as-a-Service Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Blockchain-as-a-Service Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Blockchain-as-a-Service Market Trends

Statistics for the 2023 & 2024 Blockchain-as-a-Service market trends, created by Mordor Intelligence™ Industry Reports. Blockchain-as-a-Service trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Blockchain-as-a-Service Industry

This section covers the major market trends shaping the Blockchain-as-a-Service Market according to our research experts:

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 into the same, which is likely to boost the market growth.

Blockchain-As-A-Service-Market: Industry-wise Adoption Blockchain solution, in, % India 2019

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Asia-Pacific is Expected to Witness the Highest Growth Rate

After May 2018, the Chinese government has been promoting the adoption of blockchain technology, due to its multiple advantages. 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.