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 grow at a CAGR of 73.8% from 2021 to 2028.
Blockchain technology is still in its emerging phase; however, the skyrocketing growth in the adoption of blockchain across diverse industry verticals has attracted a lot of attention from well-established players such as IBM and Microsoft and the startups. In the past few years, many startups have emerged in the blockchain market majorly due to the immense amount of funds being poured in by venture capitalists. These tech-savvy, robust, and "think-big" startups are shaking the Blockchain market with innovative and disruptive Blockchain solutions. Startups are also working with independent consortia to develop Blockchain solutions for various industries ranging from banking to entertainment. There is a huge influx of well-funded startups in the blockchain market. The positive outlook on the part of funding and startup activity is expected to boost the growth of the blockchain market in various industries such as BFSI, retail, government, logistics, and healthcare. Examples of successful Blockchain adoption by big players to streamline diverse business functions include Walmart, Maersk, British Airways, UPS, and FedEx. Cost reduction and cost savings are major priorities for any business. Blockchain eliminates unnecessary third parties or intermediaries to reduce time and costs. With all these advantages, Blockchain enables businesses to improve operational efficiency and transparency and lower operating costs, thereby helping them enhance service quality and customer experience, which drive the Europe blockchain market during the forecast period.
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.
Europe Blockchain Market Revenue and Forecast to 2028 (US$ Million)
Europe Blockchain Market Segmentation
Europe Blockchain Market – By Component
- Solutions
- Services
Europe Blockchain Market – By Application
- Payments
- Exchanges
- Smart Contracts
- Documentation
- Digital Identity
- Governance, Risk and Compliance
- Others
Europe Blockchain Market – By Industry Vertical
- BFSI
- Retail
- Government
- Transportation and Logistics
- Healthcare
- Automotive
- Media and Entertainment
- Others
Europe Blockchain Market– By Country
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
Europe Blockchain Market-Companies Mentioned
- Accenture
- Amazon Web Services
- Bitfury Group Limited
- Hewlett Packard Enterprise Development LP (HPE)
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Oracle Corporation
- Ripple Labs Inc.
- SAP SE
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
- Accenture
- Amazon Web Services
- Bitfury Group Limited
- Hewlett Packard Enterprise Development LP (HPE)
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Oracle Corporation
- Ripple Labs Inc.
- SAP SE
- 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