Global Blockchain-as-a-Service Market Size, Share, Growth Analysis Report - Forecast 2034

Blockchain-as-a-Service Market Size

The global blockchain-as-a-service market size was worth around USD 3.26 Billion in 2024 and is predicted to grow to around USD 315.77 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 58% between 2025 and 2034. The report analyzes the global blockchain-as-a-service market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the blockchain-as-a-service industry.

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Blockchain-as-a-Service Market: Overview

In blockchain-as-a-service, firms make use of cloud solutions along with creating, hosting, and installing blockchain applications & utilities. Additionally, blockchain is a next-gen solution tool for customers, firms, and authorities for effectively connecting with each other as well as interacting in secured manner quickly with other users. Furthermore, blockchain technology is utilized in a slew of industries such as healthcare, consumer products, financial services, life sciences, manufacturing, and public utilities. This is projected to enlarge scope of growth of blockchain-as-a-service market over forecasting timeframe. Moreover, blockchain-as-a service helps in enhancing operations as well as operability of auto lending, bancasurance, cross-border payments, crypto tags, customer onboarding, EduScrypt, digital onboarding, fraud detection, Know Your Customer utility, digital onboarding integrated with KYC, and fund distribution activities. Apart from this, it improves transaction reporting, wholesale fund distribution, trade financing, and reinsurance contract activities.

Blockchain is a distributed database that allows the distribution and sharing of digital data or information by millions of users or nodes through a decentralized mechanism. Initially, blockchain technology was designed to manage the list of records called blocks for Bitcoin, a type of cryptocurrency. Blockchain-as-a-service allows its users to take advantage of cloud-based services and solutions in order to build, host or use their own blockchain applications and functions on the blockchain, while all the complicated backend work is managed by the cloud service provider.

Bitcoin uses blockchain technology as it acts like an immutable ledger and offers the entire trail for any transaction that took place till date. This gives the technology a tremendous potential in offering services to almost every industry and is prognosticated to register rapid growth in the forecast period. According to The IBM Institute for Business Value, by 2018, blockchain solutions will witness investment for ‘deposit-taking’ from about 91% banks out of 200 surveyed banks of 16 countries. In the BFSI sector, banks are searching for ways and means to share financial data and customer information in a secured manner across their company and BaaS (Blockchain as a Service)  is expected to play a leading role in the mechanism. All these factors are expected to propel the growth of BaaS as one of the modern software as a service offering in the coming years.

Key Insights

• As per the analysis shared by our research analyst, the global blockchain-as-a-service market is estimated to grow annually at a CAGR of around 58% over the forecast period (2025-2034).
• Regarding revenue, the global blockchain-as-a-service market size was valued at around USD 3.26 Billion in 2024 and is projected to reach USD 315.77 Billion by 2034.
• The blockchain-as-a-service market is projected to grow at a significant rate due to increasing enterprise interest in blockchain for supply chain, finance, and identity management, along with demand for simplified blockchain integration via cloud platforms.
• Based on Component, the Tools segment is expected to lead the global market.
• On the basis of Deployment Type, the Public Cloud segment is growing at a high rate and will continue to dominate the global market.
• Based on the Application, the Smart Contracts segment is projected to swipe the largest market share.
• By Organization Size, the Small & Medium Enterprises segment is expected to dominate the global market.
• In terms of Industry Vertical, the BFSI segment is anticipated to command the largest market share.
• Based on region, North America is predicted to dominate the global market during the forecast period.

Blockchain-as-a-Service Market: Growth Drivers

Rise in demand for BaaS owing to COVID-19 pandemic along with escalating requirement of supply chain transparency across different business verticals will create new growth avenues for blockchain-as-a service market. Apart from this, massive need of reducing risks and necessity of improving efficiency of financial deals will drive market trends. Large-scale use of connected things and supportive government initiatives will protrude volume of blockchain-as-a-service market growth in ensuing years. Huge acceptance of blockchain-as-a service platform across small & medium enterprises will prove beneficial for expansion of blockchain-as-a service industry. Furthermore, increase in investment in large number of ventures depending on blockchain technology in nations such as the UK, Japan, and the U.S. will unravel new growth dimensions for blockchain-as-a-service industry in years ahead.

Individual clients or companies can use the blockchain technology to stay competitive in the market making the blockchain-as-a-service platform more advantageous. Implementation of BaaS model in smart payments is fueling the growth of the blockchain-as-a-service market. For instance, recently a new blockchain payments solution based on IBM blockchain technology was unveiled to provide both clearing and settlements of financial transactions on a single network by IBM, KlickEx Group, and Stellar.org. Whereas, complication involved in handling the infrastructure as well as the complex mathematical calculations in blockchain can restrain the blockchain-as-a-service market growth. Integration of the technology with the internet of things (IoT) to offer technologically advanced and efficient solutions across verticals is anticipated to pave the way for numerous opportunities in the blockchain-as-a-service market.

Blockchain-as-a-Service Market: Segmentation Analysis

The global blockchain-as-a-service market is segmented based on Component, Deployment Type, Application, Organization Size, Industry Vertical, and region.

Based on Component, the global blockchain-as-a-service market is divided into Tools, Services.

On the basis of Deployment Type, the global blockchain-as-a-service market is bifurcated into Public Cloud, Private Cloud, Hybrid Cloud.

By Application, the global blockchain-as-a-service market is split into Smart Contracts, Supply Chain Management, Payments, Identity Management, Governance, Others.

In terms of Organization Size, the global blockchain-as-a-service market is categorized into Small & Medium Enterprises, Large Enterprises.

By Industry Vertical, the global Blockchain-as-a-Service market is divided into BFSI, Healthcare, Manufacturing, Government, Retail, IT & Telecom, Others.

Blockchain-as-a-Service Market: Report Scope

Blockchain-as-a-Service Market: Regional Analysis

North America To Make Huge Revenue Contributions Towards Global Market By 2034

Growth of blockchain-as-a- service market in North America over 2024-2034 is due to increase in use of blockchain technology in software firms as well as financial institutions such as banks and insurance sectors across countries such as Canada and the U.S. Thriving e-commerce and online retail activities will contribute enormously towards regional market proceeds over forecast timespan. Growing demand for real-time processing of financial transactions in small as well as medium-scale firms in countries such as the U.S. will propel scope of regional market growth in coming decade.

Blockchain-as-a-Service Market: Competitive Analysis

The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the blockchain-as-a-service market on a global and regional basis.

The global blockchain-as-a-service market is dominated by players like:

• Microsoft Corporation
• Ardor Nxt Group
• IBM Corporation
• SAP SE
• Amazon Web Services Inc.
• The Hewlett Packard Enterprise Company
• Consensys
• Deloitte Company
• Infosys Limited
• Huawei Technologies Co. Ltd.
• Accenture plc
• and Oracle Corporation.

The global blockchain-as-a-service market is segmented as follows;

By Component

• Tools
• Services

By Deployment Type

• Public Cloud
• Private Cloud
• Hybrid Cloud

By Application

• Smart Contracts
• Supply Chain Management
• Payments
• Identity Management
• Governance
• Others

By Organization Size

• Small & Medium Enterprises
• Large Enterprises

By Industry Vertical

• BFSI
• Healthcare
• Manufacturing
• Government
• Retail
• IT & Telecom
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America