Microsoft Outperforms IBM to Rank as Top BaaS Platform Provider: ABI Research
According to ABI Research, Microsoft and IBM are “a league ahead” of their competitors in the blockchain-as-a-service sector.
Microsoft has been ranked as the top blockchain-as-a-service (BaaS) platform provider, beating competitors including IBM. The assessment by ABI Research has given Microsoft kudos for the number of proof-of-concept trials it has been conducting, as well as its blockchain app creation service Azure Blockchain Workbench.
ABI Research said in a statement on Monday it had assessed the blockchain platforms of 11 companies, considering factors such as market penetration, proof-of-concepts and pilots, ecosystem and developer support, and platform features.
The market intelligence provider noted that while Microsoft leads overall, IBM is a very close second and “marginally ahead in terms of innovation.” Both companies, however, are “a league ahead of other vendors” in the BaaS sector.
Michela Menting, head of research at ABI, commented:
“The advent of cloud offerings in the space shows that blockchain technology is ripe for productization. Microsoft and IBM are capitalizing on the numerous proof of concepts and pilots that have been tested on their platforms in the last 2 years, the first of which are already being commercialized. While IBM has some of the more advanced pilots to date, Microsoft leads on the implementation front, with a broad range of platform choices and deep integration with its existing cloud services.”
Microsoft and IBM are followed in the ranking by SAP, Oracle and Cisco, all three of which are relatively new to the blockchain industry but “have accelerated the commercialization of their offerings, providing feature-rich platforms, broad market range, dynamic ecosystem support, and integration with both their own and third-party solutions.”
ABI’s BaaS competitive assessment comes shortly after a report from Bank of America (BofA) suggested that the value of the blockchain market could reach $7 billion. While not specifying the timeframe of its projection, BofA said the valuation figure might be reached when 2% of servers run on blockchain, at $5,500 per server in annual terms. According to the report, Amazon, Microsoft, and Oracle could benefit from this emerging market.