Europe Blockchain Market

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

Europe Blockchain Strategic Insights

Strategic insights for the Europe Blockchain provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Blockchain Report Scope

Europe Blockchain Regional Insights

The geographic scope of the Europe Blockchain refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.