The global market for Blockchain-as-a-Service, a third-party cloud-based infrastructure and management for companies building and operating blockchain apps, is projected to reach a revised size of US$36.9 Billion by 2027, growing at a CAGR of 56.5% over the analysis period 2020-2027, a press release reads.
Tools, one of the segments analyzed in a report, is projected to record 55.2% CAGR and reach US$23.3 Billion by the end of the analysis period. Taking into account the ongoing post-pandemic recovery, growth in the Services segment is readjusted to a revised 59% CAGR for the next 7-year period.
The U.S. Market is Estimated at $490.2 Million, While China is Forecast to Grow at 53.8% CAGR
The Blockchain-as-a-Service market in the U.S. is estimated at US$490.2 Million in the year 2020. China, the world’s second-largest economy, is forecast to reach a projected market size of US$5.8 Billion by the year 2027 trailing a CAGR of 53.8% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 50.8% and 47.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 37.8% CAGR.