Europe Blockchain Market Outlook 2027

The first decentralized Blockchain technology was conceptualized by a person or a group named Satoshi Nakamota in 2008. The identity of the developer is still intact till the date. Blockchain technology was introduced as a platform for bitcoin and cryptocurrency. Some of the major attributes for Blockchain technology are decentralization, distributed, immutable, timestamp quality, merkle tree structure, peer-to-peer network. These are the factors directing towards the overall growth of the Blockchain market. Before the Blockchain, users were insisted to have a central system or middleman to secure the transaction details and information. This acted like a restraining factor for the system because this can endanger the data and confidential information was at risk. Having all the data at one place can end up having the 51% attack or any hacking attack which can a major problem. Blockchain technology entered as a boom to this industry. As it works on peer-to-peer network, data is not stored on one location only. System distributes the data to various locations worldwide to ensuring the safety. This factor made Blockchain technology more trustworthy than any other system. Another quality of Blockchain is trusted timestamping. It is a process in which system securely tracks the time of creation and modification of the data. Once the data has been recorded no one can change it.

According to the research report Europe Blockchain Market Outlook, 2027 Europe Blockchain market has forecasted to have CAGR of 48.95% by 2027. The European Commission actively supports Blockchain on the policy, legal and regulatory and funding fronts. The European public sector is representing revolutionary factor in Blockchain by building its own Blockchain infrastructure. The Europe regions aim to be a leader in Blockchain industry. Europe plans to be an innovator in a Blockchain while being a home to significant platforms, applications and companies. By the country, Europe region is segmented into six major countries which are Germany, United Kingdom, France, Italy, Spain and Russia. The Germany is expected to acquire more market share in Europe region. Blockchain technology has gained more importance and value in the Germany business because of security and aligning the process. Due to these advancements in the technology, more companies are paying attention towards the participation in the system. Fusion Informatics is an experienced Blockchain technology company in Berlin, Germany. This company is responsible for providing top-notch solutions and high-level Blockchain development services in different sectors of Germany. With the increasing adoption of Blockchain technology, it is not surprising that various companies are exploring Blockchain development services to launch their own infrastructure or manufacturer module and build Blockchain products.

Based on the report, Europe Blockchain market is segmented into various types such as banking & financial services, government, healthcare, media & entertainment etc. Among these segments banking & financial service segment is expected to have higher market size. As for the banks or any financial transaction, they will need utmost security and immutable factor for their confidential details. Blockchain technology successfully provides all the attributes need by banks. The European Blockchain partnership is bringing development and advancement vision into life. This partnership is a joint effort of all 27 Europe countries and European Commission. The public sector for Europe is playing significant role in Blockchain technology by imitating to build its own Blockchain infrastructure.

Covid-19 pandemic has led Blockchain industry to a decline in the growth of overall market. The industry has witnessed a lack of demands and price reduction component. Europe region was also heavily impacted during the pandemic. Due to inflexibility of the virus, many industries focused on essential work only. That resulted into a halt for Blockchain technology installation. Some of the common but major difficulties faced by the companies include disruptions in the supply chain, reduced sale, low revenue generation and lack of human recourses. The decline in demand for manufacturing has impacted the industry. However as economics are planning to resume business to increase revenue generation gradually, the demand for Blockchain in every sector is expected to resume its average growth rate in upcoming years.

Major Companies present in the market:

IBM Corporation, Amazon Web Services, Sap SE, Intel Corporation, Oracle Corporation, Huawei Technologies Co. LTD, ACCENTURE PLC, WIPRO Limited, Microsoft Corporation, Blockstream Inc., DeloitteTouche Tohmatsu Limited, PayStand Inc., Applied Blockchain Limited.

Considered in this report

• Geography: Europe
• Historic Year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report

• Europe Blockchain market with its value and forecast along with its segments
• Country wise Blockchain market analysis
• Segment wise Blockchain Market
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report

• Germany
• United Kingdom
• France
• Italy
• Spain
• Russia

By Types of Blockchain in the report:

• Public
• Private
• Hybrid

By Provider type in the report:

• Infrastructure
• Application & Solution
• Middleware

By Enterprise in the report:

• Large Enterprise
• Small & Medium Enterprises

By Application in the report:

• Banking & Financial Services
• Government
• Healthcare
• Media & Entertainment
• Retail and Ecommerce
• Transportation & Logistics
• Energy and Utilities
• Others (Insurance, Manufacturing, Travel, It & Telecom, etc.,)

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning. Post this we have started doing primary calls to industry people by equally segmenting in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, Key and innovative vendors related to Blockchain industry. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.