Allied Market Research has published a new report titled “Registered at 59.3% CAGR | Blockchain-as-a-Service Market Share to Reach USD 84.6 Billion by 2031”. The report provides an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive environment. This study is a source of information that will help market players, investors, vice presidents, stakeholders, and new entrants to thoroughly understand the industry and decide on the steps they should take to gain a competitive advantage. is.
A significant surge in internet penetration in various countries around the world, an increase in the number of cyber threats, an increase in the complexity of the global financial sector, and widespread adoption of blockchain technology in developing countries have all contributed to the global block We are promoting growth as a chain. -Service market. The rising trend of cryptocurrencies and blockchain networks among people during the pandemic has had a positive impact on the market growth.
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The global blockchain-as-a-service market size was valued at USD 829 million in 2021 and is projected to grow at a CAGR of 59.3% from 2022 to 2031 to reach USD 84.6 billion by 2031. Masu.
The blockchain-as-a-service market is segmented on the basis of offering, company size, application, industry, and region. Based on the services they provide, the industry is categorized into tools and services. Based on company size, the market is bifurcated into large and small companies. Based on application, the market is segmented into payments, smart contracts, supply chain management, compliance management, trade finance, etc. Industries covered by this study include BFSI, government and public sector, manufacturing, retail and e-commerce, media and entertainment, transportation and logistics, healthcare, energy and utilities, and more. Regionally, it is analyzed across North America, Europe, Asia Pacific, and LAMEA.
A complete overview is available at https://www.alliedmarketresearch.com/blockchain-as-a-service-market-A31496.
Coronavirus disease (COVID-19) scenario:
● The outbreak of the coronavirus disease (COVID-19) pandemic has had a positive impact on the growth of the global blockchain-as-a-service market due to the existence of lockdowns in various countries across the world.
● Increased internet penetration due to lockdown during the pandemic has increased the use of blockchain technology, boosting market growth.
● Additionally, the increasing popularity and adoption of cryptocurrencies and non-fungible tokens (NFTs), the growing popularity of the Metaverse and virtual marketplaces have positively impacted the market growth.
● Therefore, the market is expected to grow even faster in the coming years.
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On an industry vertical basis, the BFSI segment held the dominant market share in 2021, accounting for over one-third of the global market and is expected to maintain its leadership position during the forecast period. Meanwhile, the retail and e-commerce segment is expected to register the fastest CAGR of 63.3% during the forecast period.
Based on company size, the large enterprise segment held the dominant market share in 2021, accounting for three-fifths of the global market and is expected to maintain its leadership position during the forecast period. Meanwhile, the SME segment is expected to register the fastest CAGR of 61.0% during the forecast period.
Based on offerings, the tools sector held a dominant market share in 2021, accounting for more than half of the global market and is expected to maintain its leadership position during the forecast period. Meanwhile, the services sector is expected to achieve the fastest CAGR of 61.1% during the forecast period.
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Regionally, the North American market held a dominant market share, accounting for approximately two-fifths of the global market in 2021, and is expected to maintain its leadership position during the forecast period. Meanwhile, Asia Pacific is expected to register the fastest CAGR of 64.2% during the forecast period.
Key companies analyzed in the global Blockchain as a Service market report include Altores, AWS, Bitfury, Factom, HPE, Huawei Technologies, IBM CORPORATION, Infosys Limited, Leewayhertz, Microsoft Corporation, Oracle Corporation, Oodles Technologies, etc. It will be.
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