Europe Blockchain in BFSI Market Introduction and Overview
According to SPER Market Research, the Europe Blockchain in BFSI Market is estimated to reach USD XX billion by 2033 with a CAGR of 65.24%.
The report includes an in-depth analysis of the Europe Blockchain in BFSI Market, including market size and trends, product mix, Applications, and supplier analysis. Blockchain technology is a distributed, decentralised digital ledger that records computer network activities in the banking, financial services, and insurance industries (BFSI). Productivity is increased, costs are reduced, security is improved, and transparency is increased.
- July 2018: IBM, a prominent player in the European blockchain market for the banking and financial services industry, announced a cooperation with CLS, a blockchain platform. Nine additional budgetary administration companies, including banks like Barclays and Citi, have joined this platform in addition to IBM.
- May 2019: Another big player in the market, Deloitte, tested staff credential verification using data management on the Ethereum blockchain with three Irish banks (Bank of Ireland, Ulster Bank, AIB, and Institution of Banking).
Market Opportunities and Challenges
The market is experiencing significant growth due to increased demand for robust security measures, enhanced compatibility with the financial services sector, and the cost-effective and speedy nature of cross-border payments facilitated by blockchain. Additionally, the decentralized and immutable characteristics of blockchain enhance security in the BFSI sector, reducing the risk of fraud and unauthorized access. This is crucial in handling sensitive client data and financial transactions. Blockchain also streamlines processes, fosters transparency, and enables efficient collaboration among diverse financial entities, minimizing the need for intermediaries. Its peer-to-peer capabilities also revolutionize cross-border payments, offering near-real-time transactions at lower costs, addressing challenges in the BFSI segment and driving increased adoption by financial institutions. The market is being held back, nevertheless, by a few issues like regulatory uncertainty, GDPR and data privacy, interoperability and standards, scalability and performance, and energy consumption. Despite these obstacles, the BFSI sector's rapid digitization and increasing automation throughout Europe are major factors driving market expansion.
Market Competitive Landscape
There are numerous local and foreign companies operating in the European blockchain industry for BFSI. Because of its enormous size and range of services, the market is very active and competitive. The market's dynamics are shifting as a result of widespread use of cryptocurrencies and the digitalization process. In order to increase operational performance, save costs, improve security, and provide innovative financial products, well-known banks and financial institutions around Europe are investigating blockchain innovation. Fintech businesses are also propelling progress in the BFSI industry by developing blockchain-enabled systems for resource tokenization, loaning, exchange funds, payments, settlements, and more. The major players in the market include: Accenture, Amazon Web Services, Hewlett Packard Enterprise Development LP (HPE), IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Application
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| Regions covered | France, Germany, Italy, Spain, Switzerland, United Kingdom, Others
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| Companies Covered | Accenture, Amazon Web Services, Hewlett Packard Enterprise Development LP (HPE), IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, Others
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COVID-19 Impact on Europe Blockchain in BFSI Market
Thanks to blockchain technology, financial operations are now much more transparent. Customer safety in the BFSI markets is necessary because, during the epidemic, around 50% of clients interacted with the financial market through digital methods. The bulk of companies in Europe have integrated blockchain technology into their operations in order to gain a competitive advantage and solidify their place in the market. Throughout the COVID-19 pandemic, companies like IBM, Microsoft, Intel, Oracle, Daimler, and others took advantage of blockchain technology. After 2020, the GDP grew once more as the financial market started to rise in step with the growth of the pandemic-related companies. Following the pandemic, Europe Blockchain's share of the BFSI market increased significantly.
Key Target Audience:
- BFSI Companies
- BFSI Market Entrants
- Distributors and suppliers
- finance companies
- Government Bodies & Regulating Authorities
- Industry Associations
- Market Researchers and Analysts
- Potential Investors
- Providers
- Others
Our in-depth analysis of the Europe Blockchain in BFSI Market includes the following segments:
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By Type:
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Consortium
Hybrid
Private
Public
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By Application:
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Digital Currency
Payments & Settlement
Record Keeping
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Key Topics Covered in the Report:
- Europe Blockchain in BFSI Market Size (FY’2023-FY’2033)
- Overview of Europe Blockchain in BFSI Market
- Segmentation of Europe Blockchain in BFSI Market By Type (Consortium, Hybrid, Private, Public)
- Segmentation of Europe Blockchain in BFSI Market By Application (Digital Currency, Payments & Settlement, Record Keeping)
- Statistical Snap of Europe Blockchain in BFSI Market
- Expansion Analysis of Europe Blockchain in BFSI Market
- Problems and Obstacles in Europe Blockchain in BFSI Market
- Competitive Landscape in the Europe Blockchain in BFSI Market
- Impact of COVID-19 and Demonetization on Europe Blockchain in BFSI Market
- Details on Current Investment in Europe Blockchain in BFSI Market
- Competitive Analysis of Europe Blockchain in BFSI Market
- Prominent Players in the Europe Blockchain in BFSI Market
- SWOT Analysis of Europe Blockchain in BFSI Market
- Europe Blockchain in BFSI Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Europe Blockchain in BFSI Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Europe Blockchain in BFSI Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Blockchain in BFSI Market
7. Europe Blockchain in BFSI Market, By Type (USD Million)
7.1. Europe Blockchain in BFSI Market Value Share and Forecast, By Type, 2023-2033
7.2. Consortium
7.3. Hybrid
7.4. Private
7.5. Public
8. Europe Blockchain in BFSI Market, By Application (USD Million)
8.1. Europe Blockchain in BFSI Market Value Share and Forecast, By Application, 2023-2033
8.2. Digital Currency
8.3. Payments & Settlement
8.4. Record Keeping
9. Europe Blockchain in BFSI Market Forecast, 2019-2033 (USD Million)
9.1. Europe Blockchain in BFSI Market Size and Market Share
10. Europe Blockchain in BFSI Market, By Type, 2019-2033 (USD Million)
10.1. Europe Blockchain in BFSI Market Size and Market Share By Type (2019-2026)
10.2. Europe Blockchain in BFSI Market Size and Market Share By Type (2027-2033)
11. Europe Blockchain in BFSI Market, By Application, 2019-2033 (USD Million)
11.1. Europe Blockchain in BFSI Market Size and Market Share By Application (2019-2026)
11.2. Europe Blockchain in BFSI Market Size and Market Share By Application (2027-2033)
12. Europe Blockchain in BFSI Market, By Region, 2019-2033 (USD Million)
12.1. Europe Blockchain in BFSI Market Size and Market Share By Region (2019-2026)
12.2. Europe Blockchain in BFSI Market Size and Market Share By Region (2027-2033)
12.3. France
12.4. Germany
12.5. Italy
12.6. Spain
12.7. Switzerland
12.8. United Kingdom
12.9. Others
13. Company Profile
13.1. Accenture
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Amazon Web Services
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Hewlett Packard Enterprise Development LP (HPE)
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. IBM Corporation
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Intel Corporation
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Microsoft Corporation
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Oracle Corporation
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
