Blockchain-as-a-Service Market by Component (Tools and Services), Business Application (Supply Chain Management, Smart Contracts, Identity Management, Payments, and GRC Management), Organization Size, Industry, and Region - Global Forecast to 2023
[178 Pages Report] The Blockchain as a Service Market comprises Blockchain as a Service platform vendors and service providers. Platform providers are vendors who provide back-end infrastructure and development tools-as-a service to application and solution developers at an individual or enterprise scale. Service providers are vendors who provide advisory and consulting, custom development, system implementation and integration services, and managed services to end-users. The market size was valued at USD 350.0 Million in 2017 and expected to reach USD 15,455.0 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 90.1% during the forecast period. The year 2017 is considered as the base year, while the forecast period is considered from 2018 to 2023.
The objective of the report is to define, describe, and forecast the market trends based on components, business applications, organization size, industry, and region. The objective is to provide detailed information related to the major factors, such as drivers, restraints, opportunities, and challenges, influencing the market growth.
The research methodology used to estimate and forecast the Blockchain as a Service Market began with capturing data through key vendors revenue by secondary research sources, such as company websites, Factiva, and Hoovers. The other secondary sources include annual reports, press releases, and investor presentations of companies, white papers and certified publications, and articles from recognized authors, directories, and databases. In addition to this, vendor offerings are taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global Market from the revenues of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with the key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of the primary participants is depicted in the figure below:
To know about the assumptions considered for the study, download the pdf brochure
The Blockchain as a Service ecosystem comprises vendors, such as IBM (US), Microsoft (US), Oracle (US), SAP (Germany), Waves Platform (Russia), HPE (US), Baidu (China), Stratis (UK), AWS (US), Huawei (China), KPMG (Netherlands), Accenture (Ireland), PwC (UK), Infosys (India), TCS (India), TO THE NEW (India), Capgemini (France), Deloitte (US), Cognizant (US), EY (UK), NTT Data (Japan), ConsenSys (US), Wipro (India), L&T Infotech (India), and Mphasis (India).
Target Audience For Blockchain as a Service Market
- Blockchain technology providers
- Cloud Service Providers (CSPs)
- Managed Service Providers (MSPs)
- System integrators
- End-users
- Third-party providers
- Value-Added Resellers (VARs)
- Government agencies
- Consultants/consultancies/advisory firms
- Support and maintenance service providers
The study answers several questions for stakeholders; primarily, which market segments to focus on in the next 2 to 5 years for prioritizing their efforts and investments.
Scopeof the Report
The research report categorizes the Blockchain as a Service market to forecast the revenues and analyze the trends in each of the following subsegments:
By Component
- Tools
- Services
By Business application
- Supply Chain Management
- Payments
- Identity Management
- Smart Contracts
- Governance, Risk, and Compliance Management (GRC)
- Others (trade finance and data storage)
By Organization size
- Large enterprises
- Small and Medium-sized Enterprises (SMEs)
By Industry
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare and Life Sciences
- Telecom and IT
- Transportation and Logistics
- Retail and eCommerce
- Government and Public Sector
- Manufacturing
- Energy and Utilities
- Telecom and IT
- Media and Entertainment
- Others (real estate, and travel and hospitality)
By Region
- North America
- Europe
- Asia Pacific (APAC)
- Latin America
- Middle East and Africa (MEA)
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for the report:
Geographic Analysis
- Further breakdown of the North American Blockchain as a Service Market
- Further breakdown of the European market
- Further breakdown of the APAC market
- Further breakdown of the MEA market
- Further breakdown of the Latin American market
Company Information
- Detailed analysis and profiling of additional market players
The Blockchain as a Service market is expected to grow from USD 623.0 Million in 2018 to USD 15,455.0 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 90.1% during the forecast period. The major growth drivers of the Market include the low cost of bandwidth, data storage, and computing, and need to lower risks, complexities, and increase efficiency.
The Blockchain as a Service Market has been segmented on the basis of components into tools and services. The services segment is expected to hold the larger market share during the forecast period. The demand for consulting and implementation services is expected to surge, due to the growing need for Blockchain as a Service solutions across organizations.
Major Blockchain as a Service business applications include supply chain management, payments, identity management, smart contracts, and Governance, Risk, and Compliance (GRC) management. The adoption of Blockchain as a Service offerings for the identity management business application is expected to increase significantly in the coming years. The unavailability of equivalent systems for securing the identity of digital entities and online authentication of personal identities are expected to increase the adoption of the blockchain technology. The integration of the blockchain technology provides a solution to mitigate the need for central authority and trusted third parties.
The Banking, Financial Services, and Insurance (BFSI) industry is estimated to hold the largest share of the Blockchain as a Service Market in 2018. Organizations in this industry are leveraging the benefits of decentralization, immutability, efficiency, cost-effectiveness, and security, which are expected to increase the adoption of the blockchain technology across the BFSI industry. The manufacturing industry is expected to grow at the highest CAGR during the forecast period.
Small and Medium-sized Enterprises (SMEs) are rapidly adopting Blockchain as a Service tools and services, owing to their ability to transform the nature of transactions. The demand for these tools is increasing due to its secure and cost-effective features. Moreover, Blockchain-as-a-Service offers reliable solutions for sharing information and ensures reduced risks and complexities of cross-organizational transactions. These factors are expected to enhance the growth of Blockchain as a Service offerings among the SMEs
The global market has been segmented on the basis of regions into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). The North American region followed by Europe is expected to continue as the largest revenue-generating region for Blockchain as a Service vendors for the next 5 years. This is mainly because, in the developed economies of the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D) and technologies. While the APAC region is expected to be the fastest-growing region in the Blockchain as a Service market due to the increasing adoption of the blockchain technology.
The Blockchain as a Service Market faces challenges such as the lack of standards and best practices, and low awareness and understanding of Blockchain as a Service tools and services. Factor such as uncertain regulatory and compliance environment is expected to limit the market growth.
The major vendors that offer Blockchain as a Service tools and services globally include IBM (US), Microsoft (US), Oracle (US), SAP (Germany), Waves Platform (Russia), HPE (US), Baidu (China), Stratis (UK), AWS (US), Huawei (China), KPMG (Netherlands), Accenture (Ireland), PwC (UK), Infosys (India), TCS (India), TO THE NEW (India), Capgemini (France), Deloitte (US), Cognizant (US), EY (UK), NTT Data (Japan), ConsenSys (US), Wipro (India), L&T Infotech (India), and Mphasis (India). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, product upgradations, partnerships, collaborations, agreements, and acquisitions, to expand their offerings in the Blockchain as a Service Market.
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Table of Contents
1 Introduction (Page No. - 18)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology (Page No. - 21)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations
3 Executive Summary (Page No. - 28)
4 Premium Insights (Page No. - 33)
4.1 Attractive Market Opportunities in the Blockchain as a Service Market
4.2 Market Share Across Various Regions
4.3 Market By Industry and Region
4.4 Market Component, By Region
5 Market Overview and Industry Trends (Page No. - 37)
5.1 Market Overview
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Low Cost of Bandwidth, Data Storage, and Computing
5.2.1.2 Need to Reduce Risk and Complexity, and Increase the Efficiency
5.2.2 Restraints
5.2.2.1 Uncertain Regulatory and Compliance Environment
5.2.3 Opportunities
5.2.3.1 Increasing Adoption Across Numerous Industries
5.2.3.2 Innovation Across International Trade and Supply Chain Management
5.2.4 Challenges
5.2.4.1 Low Awareness and Understanding
5.2.4.2 Lack of Standards and Best Practices
5.3 Industry Trends
5.3.1 Market Top Trends
5.3.1.1 Blockchain Reinventing the Wheel in the BFSI
5.3.1.2 Blockchain Technology Integration With Internet of Things
5.3.1.3 Smart Contracts
5.3.2 Venture Capital Funding Landscape
5.3.3 Market Use Cases
5.3.3.1 Use Case 1: Data Reconciliation Services for the Travel Industry, By Microsoft
5.3.3.2 Use Case 2: to Reduce the Settlement Time and Lower the Cost of Completing Global Payments, By IBM
5.3.3.3 Use Case 3: Transforming the Kyc Process in Banking
5.3.3.4 Use Case 4: Financial Inclusion of Small and Medium-Sized Enterprises Using Mobile Wallet Service, By Pearl Pay
6 Market By Component (Page No. - 47)
6.1 Introduction
6.2 Tools
6.3 Services
7 Blockchain as a Service Market, By Business Application (Page No. - 51)
7.1 Introduction
7.2 Supply Chain Management
7.3 Smart Contracts
7.4 Identity Management
7.5 Payments
7.6 Governance, Risk, and Compliance Management
7.7 Others
8 Market By Organization Size (Page No. - 59)
8.1 Introduction
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Blockchain as a Service Market, By Industry (Page No. - 63)
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.3 Telecom and IT
9.4 Healthcare and Life Sciences
9.5 Manufacturing
9.6 Retail and Ecommerce
9.7 Transportation and Logistics
9.8 Government and Public Sector
9.9 Energy and Utilities
9.10 Media and Entertainment
9.11 Others
10 Blockchain-as-a-Service Market, By Region (Page No. - 75)
10.1 Introduction
10.2 North America
10.2.1 By Country
10.2.1.1 United States
10.2.1.1.1 By Component
10.2.1.2 Canada
10.2.1.2.1 By Component
10.2.2 By Component
10.2.3 By Business Application
10.2.4 By Organization Size
10.2.5 By Industry
10.3 Europe
10.3.1 By Country
10.3.1.1 United Kingdom
10.3.1.1.1 By Component
10.3.1.2 Germany
10.3.1.2.1 By Component
10.3.1.3 France
10.3.1.3.1 By Component
10.3.1.4 Rest of Europe
10.3.1.4.1 By Component
10.3.2 By Component
10.3.3 By Business Application
10.3.4 By Organization Size
10.3.5 By Industry
10.4 Asia Pacific
10.4.1 By Country
10.4.1.1 Japan
10.4.1.1.1 By Component
10.4.1.2 Singapore
10.4.1.2.1 By Component
10.4.1.3 Australia
10.4.1.3.1 By Component
10.4.1.4 Rest of Asia Pacific
10.4.1.4.1 By Component
10.4.2 By Component
10.4.3 By Business Application
10.4.4 By Organization Size
10.4.5 By Industry
10.5 Latin America
10.5.1 By Country
10.5.1.1 Brazil
10.5.1.1.1 By Component
10.5.1.2 Mexico
10.5.1.2.1 By Component
10.5.1.3 Rest of Latin America
10.5.1.3.1 By Component
10.5.2 By Component
10.5.3 By Business Application
10.5.4 By Organization Size
10.5.5 By Industry
10.6 Middle East and Africa
10.6.1 By Sub-Region
10.6.1.1 Middle East
10.6.1.1.1 By Component
10.6.1.2 Africa
10.6.1.2.1 By Component
10.6.2 By Component
10.6.3 By Business Application
10.6.4 By Organization Size
10.6.5 By Industry
11 Competitive Landscape (Page No. - 105)
11.1 Overview
11.2 Competitive Scenario
11.2.1 New Product Launches and Product Upgradations
11.2.2 Partnerships and Collaborations
11.2.3 Acquisitions
11.2.4 Business Expansions
11.3 Blockchain as a Service Market: Prominent Players
12 Company Profiles (Page No. - 110)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
12.1 IBM
12.2 Microsoft
12.3 SAP
12.4 Deloitte
12.5 Accenture
12.6 Oracle
12.7 AWS
12.8 Cognizant
12.9 Infosys
12.10 PwC
12.11 Baidu
12.12 Huawei
12.13 HPE
12.14 Capgemini
12.15 NTT Data
12.16 TCS
12.17 Mphasis
12.18 Wipro
12.19 Waves Platform
12.20 To the New
12.21 KPMG
12.22 Ey
12.23 Stratis
12.24 Consensys
12.25 L&T Infotech
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 167)
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets Subscription Portal
13.4 Introducing RT: Real-Time Market Intelligence
13.5 Available Customization
13.6 Related Report
13.7 Author Details
List of Tables (71 Tables)
Table 1 United States Dollar Exchange Rate, 20152017
Table 2 Blockchain as a Service Market Size, By Component, 20162023 (USD Million)
Table 3 Tools: Market Size By Region, 20162023 (USD Million)
Table 4 Services: Market Size By Region, 20162023 (USD Million)
Table 5 Market Size By Business Application, 20162023 (USD Million)
Table 6 Supply Chain Management: Market Size By Region, 20162023 (USD Million)
Table 7 Smart Contracts: Market Size By Region, 20162023 (USD Million)
Table 8 Identity Management: Market Size By Region, 20162023 (USD Million)
Table 9 Payments: Market Size By Region, 20162023 (USD Million)
Table 10 Governance, Risk, and Compliance Management: Market Size By Region, 20162023 (USD Million)
Table 11 Others: Market Size By Region, 20162023 (USD Million)
Table 12 Blockchain as a Service Market Size, By Organization Size, 20162023 (USD Million)
Table 13 Large Enterprises: Market Size By Region, 20162023 (USD Million)
Table 14 Small and Medium-Sized Enterprises: Market Size By Region, 20162023 (USD Million)
Table 15 Market Size By Industry, 20162023 (USD Million)
Table 16 Banking, Financial Services, and Insurance: Market Size By Region, 20162023 (USD Million)
Table 17 Telecom and IT: Market Size By Region, 20162023 (USD Million)
Table 18 Healthcare and Life Sciences: Market Size By Region, 20162023 (USD Million)
Table 19 Manufacturing: Market Size By Region, 20162023 (USD Million)
Table 20 Retail and Ecommerce: Market Size By Region, 20162023 (USD Million)
Table 21 Transportation and Logistics: Market Size By Region, 20132026 (USD Million)
Table 22 Government and Public Sector: Market Size By Region, 20162023 (USD Million)
Table 23 Energy and Utilities: Market Size By Region, 20152022 (USD Million)
Table 24 Media and Entertainment: Market Size By Region, 20162023 (USD Million)
Table 25 Others: Market Size By Region, 20162023 (USD Million)
Table 26 Blockchain as a Service Market Size, By Region, 20162023 (USD Million)
Table 27 North America: Market Size By Country, 20162023 (USD Million)
Table 28 United States: Market Size By Component, 20162023 (USD Million)
Table 29 Canada: Market Size By Component, 20162023 (USD Million)
Table 30 North America: Market Size By Component, 20162023 (USD Million)
Table 31 North America: Market Size By Business Application, 20162023 (USD Million)
Table 32 North America: Market Size By Organization Size, 20162023 (USD Million)
Table 33 North America: Market Size By Industry, 20162023 (USD Million)
Table 34 Europe: Blockchain as a Service Market Size, By Country, 20162023 (USD Million)
Table 35 United Kingdom: Market Size By Component, 20162023 (USD Million)
Table 36 Germany: Market Size By Component, 20162023 (USD Million)
Table 37 France: Market Size By Component, 20162023 (USD Million)
Table 38 Rest of Europe: Market Size By Component, 20162023 (USD Million)
Table 39 Europe: Market Size By Component, 20162023 (USD Million)
Table 40 Europe: Market Size By Business Application, 20162023 (USD Million)
Table 41 Europe: Market Size By Organization Size, 20162023 (USD Million)
Table 42 Europe: Market Size By Industry, 20162023 (USD Million)
Table 43 Asia Pacific: Market Size By Country, 20162023 (USD Million)
Table 44 Japan: Market Size By Component, 20162023 (USD Million)
Table 45 Singapore: Market Size By Component, 20162023 (USD Million)
Table 46 Australia: Market Size By Component, 20162023 (USD Million)
Table 47 Rest of Asia Pacific: Market Size By Component, 20162023 (USD Million)
Table 48 Asia Pacific: Blockchain as a Service Market Size, By Component, 20162023 (USD Million)
Table 49 Asia Pacific: Market Size By Business Application, 20162023 (USD Million)
Table 50 Asia Pacific: Market Size By Organization Size, 20162023 (USD Million)
Table 51 Asia Pacific: Market Size By Industry, 20162023 (USD Million)
Table 52 Latin America: Market Size By Country, 20162023 (USD Million)
Table 53 Brazil: Market Size By Component, 20162023 (USD Million)
Table 54 Mexico: Market Size By Component, 20162023 (USD Million)
Table 55 Rest of Latin America: Market Size By Component, 20162023 (USD Million)
Table 56 Latin America: Market Size By Component, 20162023 (USD Million)
Table 57 Latin America: Market Size By Business Application, 20162023 (USD Million)
Table 58 Latin America: Market Size By Organization Size, 20162023 (USD Million)
Table 59 Latin America: Market Size By Industry, 20162023 (USD Million)
Table 60 Middle East and Africa: Market Size By Sub-Region, 20162023 (USD Million)
Table 61 Middle East: Market Size By Component, 20162023 (USD Million)
Table 62 Africa: Blockchain as a Service Market Size, By Component, 20162023 (USD Million)
Table 63 Middle East and Africa: Market Size By Component, 20162023 (USD Million)
Table 64 Middle East and Africa: Market Size By Business Application, 20162023 (USD Million)
Table 65 Middle East and Africa: Market Size By Organization Size, 20162023 (USD Million)
Table 66 Middle East and Africa: Market Size By Industry, 20162023 (USD Million)
Table 67 New Product Launches and Product Upgradations, 20162018
Table 68 Partnerships and Collaborations, 20172018
Table 69 Acquisitions, 20162017
Table 70 Business Expansions, 20162017
Table 71 Key Players in the Blockchain as a Service Market
List of Figures (52 Figures)
Figure 1 Blockchain as a Service Market Segmentation
Figure 2 Market Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Blockchain as a Service Market : Assumptions
Figure 8 Market is Expected to Witness High Growth During the Forecast Period
Figure 9 Market By Component (2018 vs 2023)
Figure 10 Market By Business Application (20182023)
Figure 11 Market By Organization Size (20182023)
Figure 12 Market By Industry (2018 vs 2023)
Figure 13 Increasing Need for Blockchain-as-a-Service Tools and Services Across Industries is Expected to Drive the Growth of the Blockchain as a Service Market
Figure 14 North America is Estimated to Have the Largest Market Share in 2018
Figure 15 BFSI Industry and North American Region are Estimated to Have the Largest Market Shares in 2018
Figure 16 Services Segment is Estimated to Hold the Largest Market Share Across the Globe, in 2018
Figure 17 Blockchain as a Service Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Venture Capital Funding Into the Blockchain Technology, 2012-2018
Figure 19 Tools Segment Expected to Have the Higher Growth Rate During the Forecast Period
Figure 20 Supply Chain Management Segment is Expected to Have the Largest Market Size During the Forecast Period
Figure 21 Large Enterprises Segment is Expected to Have the Larger Market Size During the Forecast Period
Figure 22 Banking, Financial Services, and Insurance Industry is Expected to Have the Largest Market Size During the Forecast Period
Figure 23 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 North America is Expected to Have the Largest Market Size During the Forecast Period
Figure 25 North America: Market Snapshot
Figure 26 The United States is Expected to Have the Largest Market Size During the Forecast Period
Figure 27 United Kingdom is Expected to Have the Highest CAGR During the Forecast Period
Figure 28 Asia Pacific: Market Snapshot
Figure 29 Singapore is Expected to Have the Highest CAGR During the Forecast Period
Figure 30 Mexico is Expected to Have the Highest CAGR During the Forecast Period
Figure 31 Middle East is Expected to Have the Larger Market Size During the Forecast Period
Figure 32 Key Developments By the Leading Players in the Blockchain as a Service Market, 20172018
Figure 33 IBM: Company Snapshot
Figure 34 Microsoft: Company Snapshot
Figure 35 SAP: Company Snapshot
Figure 36 Deloitte: Company Snapshot
Figure 37 Deloitte: SWOT Analysis
Figure 38 Accenture: Company Snapshot
Figure 39 Oracle: Company Snapshot
Figure 40 Cognizant: Company Snapshot
Figure 41 Infosys: Company Snapshot
Figure 42 PWC: Company Snapshot
Figure 43 Baidu: Company Snapshot
Figure 44 Huawei: Company Snapshot
Figure 45 HPE: Company Snapshot
Figure 46 Capgemini: Company Snapshot
Figure 47 NTT Data: Company Snapshot
Figure 48 TCS: Company Snapshot
Figure 49 Mphasis: Company Snapshot
Figure 50 Wipro: Company Snapshot
Figure 51 KPMG: Company Snapshot
Figure 52 L&T Infotech: Company Snapshot
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Growth opportunities and latent adjacency in Blockchain-as-a-Service Market