Market Overview

Global Blockchain-as-a-Service Market to Post a CAGR of 85% Through 2018-2022 | Technavio

Share:

The global blockchain-as-a-service market is expected to post a CAGR of
over 85%, according to the latest market research report by Technavio.
However, the growth momentum of the market is expected to decelerate due
to a decline in the year-over-year growth.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180820005510/en/

Technavio has published a new market research report on the global blockchain-as-a-service market fr ...

Technavio has published a new market research report on the global blockchain-as-a-service market from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the growing number of
cyber attacks. Cyber attacks by hackers and cybercriminals are growing
at an alarming rate. The number of data breaches and files stolen by the
hackers is rising globally. Cyber attacks range from disruption of
hardware infrastructure to data theft. Due to the growing cyber attacks,
there is a surge in investment in blockchain technology from both
government and private entities. Currently, blockchain technology is one
of the best tools to prevent potential frauds and protect data from
hackers. It is widely adopted by enterprises to improve their online
security systems. Traditional databases were centralized, which made
them more prone to cyber threats, but blockchain is more synchronized
across multiple systems, which makes it difficult for hackers to tamper
with information. This will help in driving the growth of the global
BaaS market during the forecast period.

This market research report on the global
blockchain-as-a-service market 2018-2022
also provides an
analysis of the most important trends expected to impact the market
outlook during the forecast period. Technavio classifies an emerging
trend as a major factor that has the potential to significantly impact
the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time
only:
View
market snapshot before purchasing

In this report, Technavio highlights the growth of quantum computing as
one of the key emerging trends in the global blockchain-as-a-service
market:

Global blockchain-as-a-service market: growth
of quantum computing

Quantum computing refers to the utilization of quantum-mechanical
phenomena, such as superposition and quantum entanglement, for data
processing and computation purposes. Instead of bits that are used by
conventional computers for data processing, quantum computers utilize
qubits, which can store considerably large amounts of data and perform
exponentially fast computing while using less energy. Thus, it is
expected that the global blockchain-as-a-service market will show a
positive outlook during the forecast period due to the various
advantages associated with quantum computing.

"Integration of BaaS with IoT is another major factor that is driving
the growth of the global market. BaaS can help enterprises in enabling
error-free and secure connectivity between thousands of IoT devices
along with providing cost-efficient self-managed networks,"
says a
senior analyst at Technavio for research on IT professional services.

Global blockchain-as-a-service market:
Segmentation analysis

This market research report segments the global blockchain-as-a-service
market by end-user (BFSI, government, healthcare, and others) and
geographical regions (APAC, EMEA, and the Americas).

The Americas led the market in 2017 with a market share of over 43% of
the market share, followed by EMEA and APAC respectively. However,
during the forecast period, the region of APAC is expected to show the
highest incremental growth, followed by the EMEA region.

Looking for more information on this market? Request
a free sample report

Technavio's sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio's comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at media@technavio.com.

View Comments and Join the Discussion!