As per current published report by Markntel Advisors the Blockchain as a Service Market is estimated to grow at a CAGR of around 46.75% during the forecast period, i.e., 2022-27. A detailed discussion of industry behavior is presented. It will assist companies and other stakeholders in making decisions that assure strong earnings in the upcoming years, and also describes the future trend. In order to assist readers in making defensible choices on market projects, this research will offer a useful summary of the market and its dynamic environment. The growth prospects that will enable the market to extend its operations in current markets will be the main focus of this analysis.

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Blockchain-based NFTs Becoming a Next Big Thing for Enterprise

The adoption of blockchain is creating several opportunities for enterprises by enabling seamless trading, exchanging, and sharing of digital representations, which are likely to spur new blockchain-based innovations. Further, as blockchain brought fungibility to the digital space & enabled exchanged value in the form of cryptocurrencies, now it is bringing non-fungibility to the digital space in the form of Non-fungible tokens (NFTs). NFTs are tokens used to represent ownership of unique items, such as art, collectibles, or even real estate. Furthermore, NFTs have potential applications in Metaverse & gaming platforms.

Moreover, the growing adoption of Metaverse can accommodate a wide range of NFTs, from cosmetic items to virtual property, digital passes, etc., which would pave new ways to share & enjoy virtual experiences. In addition, another application of NFT is in gaming, where it is extensively popular in play-to-earn games such as Axie Infinity. Therefore, NFTs are becoming a key feature of blockchain as a service in the future.

The Blockchain as a Service Market has segmented the market into the following categories:

By Offering

(Tools, Services),

By Organization Size

(Small & Medium Enterprises & Large Enterprises),

By Application

(Supply Chain Management, Smart Contracts, Financial Payments, Others (Identity Management, Governance, Risk & Compliance (GRC) Management)),

By End-user

(BFSI, IT & Telecom, Retail & Commerce, Healthcare & Life Sciences, Automotive, Others (Energy & Utility, Media & Entertainment, etc.))

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By Region

- North America

- South America

- Europe

- Middle East & Africa

- Asia-Pacific

Competitive Environment Featuring Key Players:

IBM Corporation, SAP SE, Oracle, Microsoft Corporation, Alibaba, Baidu, Inc., Accenture, NTT Data Corporation, Infosys Limited, Stratis Group, VMware, Inc., Huawei Cloud, Tata Consultancy Services (TCS), Wipro Limited, R3 (Corda), Others (Hewlett Packard Enterprise, VeChain Foundation, Oodles Technologies, etc.)

Reasons to Purchase this Report:

-Market segmentation based on both economic and non-economic characteristics, analyzed both qualitatively and quantitatively

-Developed the best strategies for the stakeholders, saving them time and energy to implement their ambitious plans.

-Providing market value estimates (in USD Million/Billion) for every section and subsegment

-Identifies the area and market segment that are anticipated to expand at the quickest rate and to hold the majority of shares.

-Our reports provide exceptional benefits to the stakeholders from the discussed insight and innovation.

-A geographical analysis that shows how the product or service is used in each area and what factors are influencing the market in that particular area

-Comprehensive company profiles for the main market players that include a company overview, company insights, product benchmarking, and SWOT analysis

-The present and projected market outlook in light of recent changes, which include growth prospects and drivers as well as obstacles and constraints in both developed and emerging regions

-Using Porter's Five Forces approach, provides a thorough examination of the market from a variety of angles.

-Uses the value chain to offer market intelligence.

-The state of the market dynamics and potential for future market expansion

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