Global Blockchain as a Service (BaaS) Market (2018-2025)-GMI Research Global Blockchain Market Opportunities | Page 2

blockchain market. Once the transaction is added to the blockchain ledger it
cannot be altered.
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The blockchain technology is witnessing significant growth in the various
industries such as BFSI, healthcare, retail, and government, owing to, the
factors such as secured data transfer, reduced fraud and limited risk of
phishing and data hacking. For instance, in October 2018, Nuggets (e-
commerce payments and ID platform provider) partnered with Devery (product
provenance and verification blockchain provider) to develop a blockchain
product for the supply chain industry. However, stringent government
regulations and lack of standards are hindering the market growth.
Various notable players operating in the market, include Amazon Web
Services, Inc., International Business Machines Corporation, Microsoft
Corporation, Earthport, Intel Corporation, Blockchain Tech Ltd., The Linux
Foundation, Bitfury USA, Inc., Digital Asset Holdings, and Chain Inc. Most of
the players in the market are focusing on strategic collaboration with
technology developers and platform providers to introduce more secure and
transparent blockchain solutions. For instance, in May 2018, Amazon Web
Services partnered with Kaleido to provide blockchain SaaS solution to the
Amazon’s customers.
The global blockchain market has been segmented based on type,
application, organization size, end-users, and key geographies. Based on the
type, the market is segmented into private blockchain and public blockchain,
Based on application, the market is classified into payments, smart contracts,
digital identity, governance, risk and compliance management, and others.
Based on organization size, the market is categorized into Large Enterprises
and Small Medium Enterprises. Based on end-users, the market is segmented
into BFSI, Healthcare, Retail, Government, IT & Telecom and Others.