
Europe Blockchain Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solutions and Services), Application (Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Governance, Risk and Compliance, and Others), and
Description
Europe Blockchain Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solutions and Services), Application (Payments, Exchanges, Smart Contracts, Documentation, Digital Identity, Governance, Risk and Compliance, and Others), and Industry Vertical (BFSI, Retail, Government, Transportation & Logistics, Healthcare, Automotive, Media & Entertainment, and Others)
The blockchain market in Europe is expected to grow from US$ 1,234.08 million in 2021 to US$ 59,142.33 million by 2028; it is estimated to register a CAGR of 73.8% from 2021 to 2028. The adoption of blockchain depends on government support and a favorable business environment. Blockchain technology has immense potential to transform businesses and government services. For sustainable growth of the blockchain market, a unified regulatory framework is crucial, which depends on governments' support. Various governments are adopting initiatives to help the fast adoption of blockchain. The European Commission has recently supported signing a 27-country pact on blockchain, known as the European Blockchain Partnership. The EU is also planning to invest EUR 300 million in blockchain over the next three years. Moreover, the rising use cases of blockchain in government applications is supporting the companies operating in this market. A few of the most common public sector use cases include digital identity, digital voting, inter & intra-governmental transactions, documentation records, and supply chain traceability.
The COVID-19 pandemic is expected to have a positive impact on market growth. During the COVID-19 pandemic, various sectors adopted blockchain technology to improve the supply chain due to its ability to overcome the challenges faced by traditional supply chains, such as inefficiency and excessive costs. Businesses have used blockchain technology to facilitate contract, supply chain, and financial activities during the last decade.
Based on application, the Europe blockchain market is segmented into payments, exchanges, smart contracts, documentation, digital identity, governance, risk and compliance, and others. In 2020, the payments segment held the largest share in the Europe blockchain market. Blockchain technology delivers secure, fast, low-cost international payment processing services via encrypted distributed ledgers that deliver trusted real-time verification of transactions. The payment segment include inter and intra-bank payments, cross-border payments, remittances, in the banking & financial sector. International payments are evolving as clients increasingly require faster processing, easier settlement, and greater transparency on fees. Several companies are integrating blockchain technology with their payment solutions to meet the expectations of the customers.
The overall Europe blockchain market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe blockchain market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the Europe blockchain market. Accenture, Amazon Web Services, Bitfury Group Limited, Hewlett Packard Enterprise Development LP (HPE), IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, Ripple Labs Inc., and SAP SE are among the key players operating in the Europe blockchain market.
Reasons to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe Blockchain Market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Europe Blockchain Market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Blockchain Market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
The blockchain market in Europe is expected to grow from US$ 1,234.08 million in 2021 to US$ 59,142.33 million by 2028; it is estimated to register a CAGR of 73.8% from 2021 to 2028. The adoption of blockchain depends on government support and a favorable business environment. Blockchain technology has immense potential to transform businesses and government services. For sustainable growth of the blockchain market, a unified regulatory framework is crucial, which depends on governments' support. Various governments are adopting initiatives to help the fast adoption of blockchain. The European Commission has recently supported signing a 27-country pact on blockchain, known as the European Blockchain Partnership. The EU is also planning to invest EUR 300 million in blockchain over the next three years. Moreover, the rising use cases of blockchain in government applications is supporting the companies operating in this market. A few of the most common public sector use cases include digital identity, digital voting, inter & intra-governmental transactions, documentation records, and supply chain traceability.
The COVID-19 pandemic is expected to have a positive impact on market growth. During the COVID-19 pandemic, various sectors adopted blockchain technology to improve the supply chain due to its ability to overcome the challenges faced by traditional supply chains, such as inefficiency and excessive costs. Businesses have used blockchain technology to facilitate contract, supply chain, and financial activities during the last decade.
Based on application, the Europe blockchain market is segmented into payments, exchanges, smart contracts, documentation, digital identity, governance, risk and compliance, and others. In 2020, the payments segment held the largest share in the Europe blockchain market. Blockchain technology delivers secure, fast, low-cost international payment processing services via encrypted distributed ledgers that deliver trusted real-time verification of transactions. The payment segment include inter and intra-bank payments, cross-border payments, remittances, in the banking & financial sector. International payments are evolving as clients increasingly require faster processing, easier settlement, and greater transparency on fees. Several companies are integrating blockchain technology with their payment solutions to meet the expectations of the customers.
The overall Europe blockchain market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe blockchain market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the Europe blockchain market. Accenture, Amazon Web Services, Bitfury Group Limited, Hewlett Packard Enterprise Development LP (HPE), IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, Ripple Labs Inc., and SAP SE are among the key players operating in the Europe blockchain market.
Reasons to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe Blockchain Market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Europe Blockchain Market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Blockchain Market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
167 Pages
- 1. Introduction
- 1.1 Scope of the Study
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
- 1.3.1 Europe Blockchain Market - By Component
- 1.3.2 Europe Blockchain Market - By Application
- 1.3.3 Europe Blockchain Market - By Industry Vertical
- 1.3.4 Europe Blockchain Market - By Country
- 2. Key Takeaways
- 3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
- 4. Europe Blockchain Market Landscape
- 4.1 Market Overview
- 4.2 PEST Analysis
- 4.2.1 Europe
- 4.3 Ecosystem Analysis
- 4.4 Expert Opinion
- 5. Europe Blockchain Market - Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Extensive Adoption of Blockchain Solutions in BFSI Industry Vertical
- 5.1.2 High Transparency and Operational Efficiency with Substantial Cost Savings
- 5.1.3 Rise in Innovative Start-ups
- 5.2 MARKET RESTRAINTS
- 5.2.1 Data Privacy, Confidentiality, and Security Concerns
- 5.2.2 Unclear Regulatory Environment
- 5.2.3 Interoperability, Scalability, and Sustainability Challenges
- 5.3 MARKET OPPORTUNITIES
- 5.3.1 Increasing Government Support and Initiatives
- 5.3.2 Increasing Demand for Blockchain-as-a-Service Due to COVID-19 Pandemic
- 5.4 FUTURE TRENDS
- 5.4.1 Combination of Blockchain and Artificial Intelligence for Advanced Applications
- 5.4.2 Application of Blockchain in Vaccine Manufacture and Tracking
- 5.5 Impact Analysis of Drivers and Restraints
- 6. Blockchain Market - Europe Market Analysis
- 6.1 Europe Blockchain Market Overview
- 6.2 Europe Blockchain Market Forecast and Analysis
- 7. Europe Blockchain Market - By Component
- 7.1 Overview
- 7.2 Europe Blockchain Market, by Component (2020 and 2028)
- 7.3 Services
- 7.3.1 Overview
- 7.3.2 Services: Europe Blockchain Market- Revenue and Forecast to 2028 (US$ Million)
- 7.4 Solutions
- 7.4.1 Overview
- 7.4.2 Solutions: Europe Blockchain Market- Revenue and Forecast to 2028 (US$ Million)
- 8. Europe Blockchain Market - By Application
- 8.1 Overview
- 8.2 Europe Blockchain Market, by Application (2020 and 2028)
- 8.3 Payments
- 8.3.1 Overview
- 8.3.2 Payments: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 8.4 Exchanges
- 8.4.1 Overview
- 8.4.2 Exchanges: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 8.5 Smart Contracts
- 8.5.1 Overview
- 8.5.2 Smart Contracts: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 8.6 Documentation
- 8.6.1 Overview
- 8.6.2 Documentation: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 8.7 Digital Identity
- 8.7.1 Overview
- 8.7.2 Digital Identity: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 8.8 Governance, Risk and Compliance
- 8.8.1 Overview
- 8.8.2 Governance, Risk and Compliance: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 8.9 Others
- 8.9.1 Overview
- 8.9.2 Others: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 9. Europe Blockchain Market - By Industry Vertical
- 9.1 Overview
- 9.2 Europe Blockchain Market, by Industry Vertical (2020 and 2028)
- 9.3 BFSI
- 9.3.1 Overview
- 9.3.2 BFSI: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 9.4 Retail
- 9.4.1 Overview
- 9.4.2 Retail: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 9.5 Government
- 9.5.1 Overview
- 9.5.2 Government: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 9.6 Transportation and Logistics
- 9.6.1 Overview
- 9.6.2 Transportation and Logistics: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 9.7 Healthcare
- 9.7.1 Overview
- 9.7.2 Healthcare: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 9.8 Automotive
- 9.8.1 Overview
- 9.8.2 Automotive: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 9.9 Media and Entertainment
- 9.9.1 Overview
- 9.9.2 Media and Entertainment: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 9.10 Others
- 9.10.1 Overview
- 9.10.2 Others: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- 10. Europe Blockchain Market - Country Analysis
- 10.1 Overview
- 10.1.1 Europe Blockchain Market Breakdown, by Country
- 10.1.1.1 Germany Blockchain Market, Revenue and Forecast to 2028
- 10.1.1.1.1 Germany Blockchain Market Breakdown, By Component
- 10.1.1.1.2 Germany Blockchain Market Breakdown, By Application
- 10.1.1.1.3 Germany Blockchain Market Breakdown, By Industry Vertical
- 10.1.1.2 France Blockchain Market, Revenue and Forecast to 2028
- 10.1.1.2.1 France Blockchain Market Breakdown, By Component
- 10.1.1.2.2 France Blockchain Market Breakdown, By Application
- 10.1.1.2.3 France Blockchain Market Breakdown, By Industry Vertical
- 10.1.1.3 Italy Blockchain Market, Revenue and Forecast to 2028
- 10.1.1.3.1 Italy Blockchain Market Breakdown, By Component
- 10.1.1.3.2 Italy Blockchain Market Breakdown, By Application
- 10.1.1.3.3 Italy Blockchain Market Breakdown, By Industry Vertical
- 10.1.1.4 UK Blockchain Market, Revenue and Forecast to 2028
- 10.1.1.4.1 UK Blockchain Market Breakdown, By Component
- 10.1.1.4.2 UK Blockchain Market Breakdown, By Application
- 10.1.1.4.3 UK Blockchain Market Breakdown, By Industry Vertical
- 10.1.1.5 Russia Blockchain Market, Revenue and Forecast to 2028
- 10.1.1.5.1 Russia Blockchain Market Breakdown, By Component
- 10.1.1.5.2 Russia Blockchain Market Breakdown, By Application
- 10.1.1.5.3 Russia Blockchain Market Breakdown, By Industry Vertical
- 10.1.1.6 Rest of Europe Blockchain Market, Revenue and Forecast to 2028
- 10.1.1.6.1 Rest of Europe Blockchain Market Breakdown, By Component
- 10.1.1.6.2 Rest of Europe Blockchain Market Breakdown, By Application
- 10.1.1.6.3 Rest of Europe Blockchain Market Breakdown, By Industry Vertical
- 11. Impact of COVID-19 Pandemic on Europe Blockchain Market
- 11.1 Overview
- 12. Industry Landscape
- 12.1 Overview
- 12.2 Market Initiative
- 12.3 New Product Development
- 12.4 Merger and Acquisition
- 13. Company Profiles
- 13.1 IBM Corporation
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 Microsoft Corporation
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 Accenture
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 Amazon Web Services
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 SAP SE
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 Bitfury Group Limited
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 Ripple Labs Inc.
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 Hewlett Packard Enterprise Development LP (HPE)
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 Oracle Corporation
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 Intel Corporation
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
- 14. Appendix
- 14.1 About The Insight Partners
- 14.2 Glossary
- list of Tables
- Table 1. Europe Blockchain Market Revenue and Forecast, 2019-2028 (US$ Mn)
- Table 2. Europe Blockchain Market, Revenue and Forecast to 2028 - By Country (US$ million)
- Table 3. Germany Blockchain Market, Revenue and Forecast to 2028 - By Component (US$ million)
- Table 4. Germany Blockchain Market, Revenue and Forecast to 2028 - By Application (US$ million)
- Table 5. Germany Blockchain Market, Revenue and Forecast to 2028 - By Industry Vertical (US$ million)
- Table 6. France Blockchain Market, Revenue and Forecast to 2028 - By Component (US$ million)
- Table 7. France Blockchain Market, Revenue and Forecast to 2028 - By Application (US$ million)
- Table 8. France Blockchain Market, Revenue and Forecast to 2028 - By Industry Vertical (US$ million)
- Table 9. Italy Blockchain Market, Revenue and Forecast to 2028 - By Component (US$ million)
- Table 10. Italy Blockchain Market, Revenue and Forecast to 2028 - By Application (US$ million)
- Table 11. Italy Blockchain Market, Revenue and Forecast to 2028 - By Industry Vertical (US$ million)
- Table 12. UK Blockchain Market, Revenue and Forecast to 2028 - By Component (US$ million)
- Table 13. UK Blockchain Market, Revenue and Forecast to 2028 - By Application (US$ million)
- Table 14. UK Blockchain Market, Revenue and Forecast to 2028 - By Industry Vertical (US$ million)
- Table 15. Russia Blockchain Market, Revenue and Forecast to 2028 - By Component (US$ million)
- Table 16. Russia Blockchain Market, Revenue and Forecast to 2028 - By Application (US$ million)
- Table 17. Russia Blockchain Market, Revenue and Forecast to 2028 - By Industry Vertical (US$ million)
- Table 18. Rest of Europe Blockchain Market, Revenue and Forecast to 2028 - By Component (US$ million)
- Table 19. Rest of Europe Blockchain Market, Revenue and Forecast to 2028 - By Application (US$ million)
- Table 20. Rest of Europe Blockchain Market, Revenue and Forecast to 2028 - By Industry Vertical (US$ million)
- Table 21. Glossary of Terms, Europe Blockchain Market
- List of Figures
- Figure 1. Europe Blockchain Market Segmentation
- Figure 2. Europe Blockchain Market Segmentation - Country
- Figure 3. Europe Blockchain Market Overview
- Figure 4. Europe Blockchain Market, By Component
- Figure 5. Europe Blockchain Market, By Application
- Figure 6. Europe Blockchain Market, By Industry Vertical
- Figure 7. Europe Blockchain Market, By Country
- Figure 8. Europe: PEST Analysis
- Figure 9. Europe Blockchain Market Ecosystem Analysis
- Figure 10. Expert Opinion
- Figure 11. Europe Blockchain Market Impact Analysis of Drivers and Restraints
- Figure 12. Europe Blockchain Market, Forecast and Analysis (US$ Mn)
- Figure 13. Europe Blockchain Market Revenue Share, by Component (2020 and 2028)
- Figure 14. Services: Europe Blockchain Market- Revenue and Forecast to 2028 (US$ Million)
- Figure 15. Solutions: Europe Blockchain Market- Revenue and Forecast to 2028 (US$ Million)
- Figure 16. Europe Blockchain Market Revenue Share, by Application(2020 and 2028)
- Figure 17. Payments: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 18. Exchanges: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 19. Smart Contracts: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 20. Documentation: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 21. Digital Identity: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 22. Governance, Risk, and Compliance: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 23. Others: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 24. Europe Blockchain Market Revenue Share, by Industry Vertical(2020 and 2028)
- Figure 25. BFSI: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 26. Retail: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 27. Government: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 28. Transportation and Logistics: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 29. Healthcare: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 30. Automotive: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 31. Media and Entertainment: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 32. Others: Europe Blockchain Market - Revenue and Forecast to 2028 (US$ Million)
- Figure 33. Europe Blockchain Market, by key Country, Revenue (2020) (US$ million)
- Figure 34. Europe Blockchain Market Breakdown, by Country, 2018 & 2028(%)
- Figure 35. Germany Blockchain Market, Revenue and Forecast to 2028 (US$ million)
- Figure 36. France Blockchain Market, Revenue and Forecast to 2028 (US$ million)
- Figure 37. Italy Blockchain Market, Revenue and Forecast to 2028 (US$ million)
- Figure 38. UK Blockchain Market, Revenue and Forecast to 2028 (US$ million)
- Figure 39. Russia Blockchain Market, Revenue and Forecast to 2028 (US$ million)
- Figure 40. Rest of Europe Blockchain Market, Revenue and Forecast to 2028 (US$ million)
- Figure 41. Impact of COVID-19 Pandemic in European Country Markets
Pricing
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