COVID-19 Effect On Blockchain-as-a-Service (BaaS) Market Share and Development 2024

Blockchain as a service (BaaS) allows enterprises to use cloud services for building, hosting, and deploying their own blockchain apps, agreements, and utilities. The cloud service provider supports all operations to keep the infrastructure responsive and functional. Cloud-based blockchain services increase adoption of the blockchain technology across businesses. The concept of blockchain as a service (BaaS) is similar to software-as-a-service (SaaS). Small and medium businesses are keen for adopting the blockchain technology. However, its complexities and operation-level issues such as configuration and infrastructure aligning are difficult to manage, which is discouraging overall adoption of the blockchain technology. In order to overcome these issues, leading technology organizations and small startups have introduced a solution called ‘Blockchain-as-a-Service (BaaS) model’ for all blockchain technology users. The BaaS model sets up all external services required in setting up the blockchain technology and infrastructure for customers. BaaS supports handling of complex operations of the blockchain technology for customers and their businesses. Moreover, BaaS keeps the infrastructure ready and operational. It also supports activities such as bandwidth controlling, appropriate allocation of resources, hosting, and security from hacking attempts.

Major factors increasing the adoption of blockchain-as-a-service (BaaS) market is that it allows organizations to focus on their core jobs instead of wasting time in setting up of infrastructure facilities. Vendors in regions such as North America and Asia Pacific have started providing BaaS. For instance, in North America, organizations such as Oracle, Microsoft, Amazon, and IBM have launched BaaS offerings. Microsoft Azure has introduced platforms where users can develop, test, and deploy secure blockchain apps. Microsoft charges its users only when the service is used. Microsoft’s blockchain platform is also known for its instant applications development tool. In China; Alibaba, Baidu, and Huawei are major players providing the service. Huawei has built its blockchain-as-a-service (BaaS) solutions on the top of open-source Hypeledger Fabric 1.0 software, this solutions of Huawei helps its customers to develop and manage smart contracts on the blockchain technology.

For More Info | Download PDF Brochure, Click Here: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=55929

Large banks and insurance companies are taking interest in technology. These are key industries using the blockchain technology. Bitcoin, a cryptocurrency, is built on the blockchain technology. The technology has been adopted by several other industries ranging from banking to social media. Blockchain uses distributed ledger technology (DLT) to decrease the risk of frauds and increase the transparency of all bank transactions. Therefore, the banking industry witnesses better adoption of the blockchain technology.

The Blockchain-as-a-Service (BaaS) market can be segmented based on component, industry, enterprise size, application, and geography. Based on component, the blockchain-as-a-service (BaaS) market can be classified into tools and services. In terms of application, the market can be divided into supply chain management, payments, identity management, smart contracts, and governance, risk and compliance (GRC) Management. Based on enterprise size, the blockchain-as-a-service (BaaS) market can be segmented into large enterprises and small & medium enterprises. In terms of industry, the blockchain-as-a-service (BaaS) market can be segregated into banking, financial services and insurance (BFSI), health care & life sciences, telecom & IT, transportation & logistics, retail & ecommerce, government & public sector, manufacturing, energy & utilities, and media & entertainment. In terms of geography, the global Blockchain-as-a-Service market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Key players operating in the global Blockchain-as-a-Service (BaaS) market are IBM corporation, SAP, Deloitte, Accenture, Cognizant, Infosys, Pwc, NTT Data, Capgemini, Wipro, Mphsis, Microsoft, Amazon, Alibaba, Oracle, Baidu, OpenXcell, lntinfotech, KPMG, and Huawei. IBM is among the top players offering blockchain platforms that allow businesses to develop, design, operate, and monitor the blockchain network quickly and cost-effectively on cloud-based platforms.

Request For Covid19 Impact Analysis Across Industries And Markets – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=55929

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Customization of the Report: This report can be customized as per your needs for additional data or countries. – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=55929

Related Reports Press-Release –

  1. https://www.prnewswire.com/news-releases/tmr-forecasts-notable-growth-for-organic-personal-care-products-market-rise-in-distribution-channels-expected-to-raise-valuation-to-us-28-66-bn-by-2027–301019735.html
  2. https://www.prnewswire.com/news-releases/urgency-to-control-fire-under-situations-of-emergency-to-support-the-of-growth-of-global-portable-fire-extinguisher-market—transparency-market-research-301019678.html

Contact

Transparency Market Research

State Tower,

90 State Street,

Suite 700,

Albany NY – 12207

United States

USA – Canada Toll Free: 866-552-3453

Email: [email protected]

Website: https://www.transparencymarketresearch.com