Organizations in BFSI, healthcare, retail, and manufacturing are purposefully pursuing automation, security, and efficiency with blockchain solutions. Organizations are implementing or looking to implement blockchain to provide capabilities like self-executing contracts, digital asset management, and tokenization of physical assets, which is driving the uptake of BaaS.
WESTFORD, Mass., Sept. 10, 2025 /PRNewswire/ -- SkyQuest Technology Consulting published a report, titled, Blockchain as a Service Market - Global Opportunity Analysis and Industry Forecast, 2025-2032", valued at USD 2.84 Billion in 2024. With a projected CAGR of 30.5% from 2025 to 2032, the market is expected to reach USD 23.89 Billion by the end of 2032. Blockchain offers organizations entire immutable records and auditability. This is very attractive for those organizations that are handling sensitive data.
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Blockchain as a Service Market Dynamics
The blockchain as a service market is mainly driven by the increasing demand for secure, transparent, and decentralized digital transactions across verticals. Organizations are increasingly adopting Blockchain Solutions to address improved traceability in their supply chain, reducing fraud, and easing their financial operations.
Moreover, the increasing requirements for smart contracts, digital identity verification, and regulatory compliance all contribute to the growth of the market. In addition, the use of cloud computing, IoT, and AI together with blockchain platforms allow for flexible and cost-effective applications, which allow organizations to quickly digitally transform and increase their operational efficiencies.
Recent Developments in Blockchain as a Service Market News
- In May 2025, blockchain-as-a-service firm Qila, expanded into Europe by establishing an infrastructure hub in France. This is a major move because it marks Qila's entry into the Western European market, after being adopted successfully into India, the Middle East and the United States.
- In March 2025, Mastercard unveiled a blockchain-based method for a digital asset platform, which will allow the transaction of digital assets between both users, merchants and banking institutions. The method will work similarly to fee-free Venmo transactions to enable peer-to-peer transfers of digital assets. Additionally, Mastercard will provide more than 100 crypto card programs to customers globally and build a Multi-Token Network to facilitate the use of both fiat and cryptocurrencies.
- In January 2025, DAMAC Group, a Dubai-based real estate developer, announced a collaboration with the blockchain platform MANTRA to tokenize its real estate assets for $1 billion. This collaboration will help obtain liquidity and transparency for real estate by tokenizing the ownership rights of a real estate asset as a digital token on the blockchain.
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Major Challenges in Blockchain as a Service Industry
The blockchain as a service market has variety of restraints that can impact its growth. For organizations adopting enterprise blockchain solutions, the upfront setup and integration costs can be a barrier to mass adoption, especially if they are also implementing or integrating either BaaS with an existing legacy system.
Another potential barrier is the lack of skilled blockchain developers and technical talent that could generally slow down organizations´ ability to deploy and innovate, but in addition, there are also challenges that can arise directly from blockchain technology. The shifting delineation of the technology, lacking standardized frameworks across various platforms, as well as deployment complexity, are all things organizations must deal with when working towards implementing smooth and scalable interoperable BaaS solutions.
Competitive Landscape
The blockchain as a service market in 2025 is highly competitive, with established players (e.g. tech giants) as well as niche players (e.g. startups and regional vendors and emerging players). The market leaders AWS, Azure, and IBM Blockchain, represent the biggest companies, which could be the biggest companies is because of support for multiple unique blockchain implementations (especially AWS with blockchain partners). BaaS players with enterprise-grade support are great, but mostly because of security, scalability, or ease of integration into a business ecosystem.
The major players in the blockchain as a service industry include,
- Amazon Web Services (Managed Blockchain)
- Microsoft Azure (Blockchain + Web3 services)
- IBM (IBM Blockchain Platform)
- Oracle (Oracle Blockchain Cloud)
- Google Cloud (Blockchain Node Engine / partners)
- ConsenSys / Infura & Kaleido
- Alchemy
- Blockdaemon
- QuickNode
- Chainstack
- Blockstream
- Chainalysis (enterprise compliance tooling)
- Ripple (RippleNet / enterprise payments integrations)
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Blockchain as a Service Market Segmental Analysis
The global blockchain as a service market is segmented into component, deployment model, application and end user.
- In terms of component, PaaS segment dominates because PaaS offers a complete blockchain development value proposition, along with many prebuilt tools, templates, and infrastructure for organizations to create, test, and deploy blockchain-powered applications.
- In terms of deployment model, enterprises overwhelmingly prefer to deploy on the private cloud, due to increased security, better control, usability, and compliance.
- In terms of application, supply-chain traceability leads the applications that are driving blockchain technology adoption.
- By end user, BFSI dominates as banks and other financial services/advisory firms are early adopters of blockchain technology for payments, settlements, digital identity and regulatory compliance.
Regional Outlook
The blockchain as a service market is primarily occupied by North America, with the United States at the forefront of global adoption. The expansion is fueled by key technology providers like Microsoft, IBM, and AWS, as well as a developed enterprise ecosystem, rapid adoption of digital technologies for several sectors (i.e., BFSI, healthcare, supply chain management), and increased investment into blockchain integration. North America supports BaaS development with regulating frameworks that have allowed for early adoption of similar types of technologies, seeing faster adoption in enterprises and the public sector.
How Is the U.S. Driving the Blockchain as a Service Revolution?
- The US holds a significant position in the overall global market since it is both an early adopter and innovation centre for BaaS technologies. The US has a well-developed technology ecosystem, a strong presence of leading companies in the sector (Microsoft, IBM, AWS, Oracle), strong enterprise readiness levels for digital transformation, two of the world largest jovial organizations are based in the US and a non-utilization of the BaaS model. The differences in investment in R&D, cloud infrastructure capabilities and regulatory treatment allows the BaaS to be deployed quickly in several sectors BFSI, healthcare, retail, and government.
The fastest developing blockchain as a service market is in Asia-Pacific. Countries like China, India, Japan, and South Korea are integrating blockchain technologies to foster transparency, efficiency, and digital security across varied industries (i.e., BFSI, health care, supply chain). Significant investment in digital infrastructure, government initiatives to increase rates of digital technology adoption, and a steadily growing enterprise demand signal the growth of BaaS.
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About SkyQuest Technology Consulting
SkyQuest Technology Consulting is a leading Strategy Consulting and Market Research firm, provides syndicated as well as customized research reports and growth consulting services, trusted by CXOs from Fortune 500 Companies, Start-ups, and MSMEs. The company comprises a team of expert research analysts and consultants, adding more than 1200 market research reports in our database each year. These reports offer in-depth analysis on 40+ industries & sub industries across 25 major countries worldwide, serving global clients across diverse industries. The company specializes in delivering customized intelligence, data-driven insights, and strategic advisory services that enable businesses to stay competitive and make informed decisions in rapidly evolving industries.
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