Europe Blockchain Market Trends and Analysis by 2028

Historic Data: 2019-2020   |   Base Year: 2021   |   Forecast Period: 2022-2028

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)

  • Report Date : Mar 2022
  • Report Code : TIPRE00027781
  • Category : Banking, Financial Services, and Insurance
  • Status : Published
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 167
Page Updated: Mar 2024

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 Revenue and Forecast to 2028 (US$ Million)
  • This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

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

Europe Blockchain Report Scope

Report Attribute Details
Market size in 2021 US$ 1,234.08 Million
Market Size by 2028 US$ 59,142.33 Million
Global CAGR (2021 - 2028) 73.8%
Historical Data 2019-2020
Forecast period 2022-2028
Segments Covered By Component
  • Solutions and Services
By Application
  • Payments
  • Exchanges
  • Smart Contracts
  • Documentation
  • Digital Identity
  • Governance
  • Risk and Compliance
By Industry Vertical
  • BFSI
  • Retail
  • Government
  • Transportation & Logistics
  • Healthcare
  • Automotive
  • Media & Entertainment
Regions and Countries Covered Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Market leaders and key company profiles
  • Accenture
  • Amazon Web Services
  • Bitfury Group Limited
  • Hewlett Packard Enterprise Development LP (HPE)
  • IBM Corporation
  • Intel Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • Ripple Labs Inc.
  • Ankita Mittal
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    Ankita is a dynamic market research and consulting professional with over 8 years of experience across the technology, media, ICT, and electronics & semiconductor sectors. She has successfully led and delivered 100+ consulting and research assignments for global clients such as Microsoft, Oracle, NEC Corporation, SAP, KPMG, and Expeditors International. Her core competencies include market assessment, data analysis, forecasting, strategy formulation, competitive intelligence, and report writing.

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    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
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