The Europe Blockchain in Insurance Market would witness market growth of 51.1% CAGR during the forecast period (2023-2029).
The application of blockchain technology in the insurance sector has gained speed. A possible option for the insurance industry, blockchain is a distributed ledger technology that permits safe, open, and immutable record-keeping. Additionally, insurance services are being made available to underserved markets like small and medium-sized enterprises, independent contractors, and people without access to conventional banking services using blockchain technology.
The insurance sector is also putting more effort into providing better customer service by utilizing new technology and data analytics to raise consumer engagement and satisfaction. This entails creating brand-new goods and services customized to meet certain client requirements and providing a more simplified and individualized claims process. Additionally, as more businesses and organizations adopt these technologies to boost productivity, cut costs, and provide a better customer experience, ultimately improving the insurance industry, the use of blockchain in insurance is predicted to grow.
A lot of students are moving to the country for programs and higher education. Scholarship programs are also being offered by several institutions and colleges, drawing applicants. As the tourism industry expands, more instances of crucial paperwork going missing, natural disasters occurring, bags missing, and health issues are reported. These factors will provide an opportunity for the insurance sector to implement new-age technologies and streamline all the processes and maintain the necessary documents to capture the growing tourism sector and thereby propel the market growth in the Europe.
The Germany market dominated the Europe Blockchain in Insurance Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $801.7 Million by 2029. The UK market is anticipated to grow at a CAGR of 49.9% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 52.3% during (2023 - 2029).
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises. Based on Component, the market is segmented into Solution and Services. Based on Application, the market is segmented into Identity Management & Fraud Detection, Claims Management, Payments, GRC Management and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Blockchain in Insurance Market is Projected to reach USD 11.8 Billion by 2029, at a CAGR of 51.8%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Amazon Web Services, Inc. (Amazon.com, Inc.), Microsoft Corporation, Oracle Corporation, IBM Corporation, RecordsKeeper, Symbiont, Xceedance, Auxesis Services & Technologies (P) Ltd., Cornerstone Insurance Brokers Ltd. (SafeShare) and ConsenSys Software Inc.
Scope of the Study
Market Segments Covered in the Report:
By Enterprise Size
- Large Enterprises
- Small & Medium-sized Enterprises
By Component
By Application
- Identity Management & Fraud Detection
- Claims Management
- Payments
- GRC Management
- Others
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Microsoft Corporation
- Oracle Corporation
- IBM Corporation
- RecordsKeeper
- Symbiont
- Xceedance
- Auxesis Services & Technologies (P) Ltd.
- Cornerstone Insurance Brokers Ltd. (SafeShare)
- ConsenSys Software Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Blockchain in Insurance Market, by Enterprise Size
1.4.2 Europe Blockchain in Insurance Market, by Component
1.4.3 Europe Blockchain in Insurance Market, by Application
1.4.4 Europe Blockchain in Insurance Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition & scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Europe Blockchain in Insurance Market by Enterprise Size
3.1 Europe Large Enterprises Market by Country
3.2 Europe Small & Medium-sized Enterprises Market by Country
Chapter 4. Europe Blockchain in Insurance Market by Component
4.1 Europe Solution Market by Country
4.2 Europe Services Market by Country
Chapter 5. Europe Blockchain in Insurance Market by Application
5.1 Europe Identity Management & Fraud Detection Market by Country
5.2 Europe Claims Management Market by Country
5.3 Europe Payments Market by Country
5.4 Europe GRC Management Market by Country
5.5 Europe Others Market by Country
Chapter 6. Europe Blockchain in Insurance Market by Country
6.1 Germany Blockchain in Insurance Market
6.1.1 Germany Blockchain in Insurance Market by Enterprise Size
6.1.2 Germany Blockchain in Insurance Market by Component
6.1.3 Germany Blockchain in Insurance Market by Application
6.2 UK Blockchain in Insurance Market
6.2.1 UK Blockchain in Insurance Market by Enterprise Size
6.2.2 UK Blockchain in Insurance Market by Component
6.2.3 UK Blockchain in Insurance Market by Application
6.3 France Blockchain in Insurance Market
6.3.1 France Blockchain in Insurance Market by Enterprise Size
6.3.2 France Blockchain in Insurance Market by Component
6.3.3 France Blockchain in Insurance Market by Application
6.4 Russia Blockchain in Insurance Market
6.4.1 Russia Blockchain in Insurance Market by Enterprise Size
6.4.2 Russia Blockchain in Insurance Market by Component
6.4.3 Russia Blockchain in Insurance Market by Application
6.5 Spain Blockchain in Insurance Market
6.5.1 Spain Blockchain in Insurance Market by Enterprise Size
6.5.2 Spain Blockchain in Insurance Market by Component
6.5.3 Spain Blockchain in Insurance Market by Application
6.6 Italy Blockchain in Insurance Market
6.6.1 Italy Blockchain in Insurance Market by Enterprise Size
6.6.2 Italy Blockchain in Insurance Market by Component
6.6.3 Italy Blockchain in Insurance Market by Application
6.7 Rest of Europe Blockchain in Insurance Market
6.7.1 Rest of Europe Blockchain in Insurance Market by Enterprise Size
6.7.2 Rest of Europe Blockchain in Insurance Market by Component
6.7.3 Rest of Europe Blockchain in Insurance Market by Application
Chapter 7. Company Profiles
7.1 Amazon Web Services, Inc. (Amazon.com, Inc.)
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental Analysis
7.1.4 Recent strategies and developments:
7.1.4.1 Product Launches and Product Expansions:
7.1.5 SWOT Analysis
7.2 Microsoft Corporation
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expenses
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.2.6 SWOT Analysis
7.3 Oracle Corporation
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments:
7.3.5.1 Partnerships, Collaborations, and Agreements:
7.3.6 SWOT Analysis
7.4 IBM Corporation
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional & Segmental Analysis
7.4.4 Research & Development Expenses
7.4.5 SWOT Analysis
7.5 RecordsKeeper
7.5.1 Company Overview
7.6 Symbiont
7.6.1 Company Overview
7.7 Xceedance
7.7.1 Company Overview
7.7.2 Recent strategies and developments:
7.7.2.1 Product Launches and Product Expansions:
7.8 Auxesis Services & Technologies (P) Ltd.
7.8.1 Company Overview
7.9 Cornerstone Insurance Brokers Ltd. (SafeShare)
7.9.1 Company Overview
7.10. ConsenSys Software Inc.
7.10.1 Company Overview
7.10.2 Recent strategies and developments:
7.10.2.1 Acquisition and Mergers:
TABLE 1 Europe Blockchain in Insurance Market, 2019 - 2022, USD Million
TABLE 2 Europe Blockchain in Insurance Market, 2023 - 2029, USD Million
TABLE 3 Europe Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
TABLE 4 Europe Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
TABLE 5 Europe Large Enterprises Market by Country, 2019 - 2022, USD Million
TABLE 6 Europe Large Enterprises Market by Country, 2023 - 2029, USD Million
TABLE 7 Europe Small & Medium-sized Enterprises Market by Country, 2019 - 2022, USD Million
TABLE 8 Europe Small & Medium-sized Enterprises Market by Country, 2023 - 2029, USD Million
TABLE 9 Europe Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
TABLE 10 Europe Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
TABLE 11 Europe Solution Market by Country, 2019 - 2022, USD Million
TABLE 12 Europe Solution Market by Country, 2023 - 2029, USD Million
TABLE 13 Europe Services Market by Country, 2019 - 2022, USD Million
TABLE 14 Europe Services Market by Country, 2023 - 2029, USD Million
TABLE 15 Europe Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
TABLE 16 Europe Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
TABLE 17 Europe Identity Management & Fraud Detection Market by Country, 2019 - 2022, USD Million
TABLE 18 Europe Identity Management & Fraud Detection Market by Country, 2023 - 2029, USD Million
TABLE 19 Europe Claims Management Market by Country, 2019 - 2022, USD Million
TABLE 20 Europe Claims Management Market by Country, 2023 - 2029, USD Million
TABLE 21 Europe Payments Market by Country, 2019 - 2022, USD Million
TABLE 22 Europe Payments Market by Country, 2023 - 2029, USD Million
TABLE 23 Europe GRC Management Market by Country, 2019 - 2022, USD Million
TABLE 24 Europe GRC Management Market by Country, 2023 - 2029, USD Million
TABLE 25 Europe Others Market by Country, 2019 - 2022, USD Million
TABLE 26 Europe Others Market by Country, 2023 - 2029, USD Million
TABLE 27 Europe Blockchain in Insurance Market by Country, 2019 - 2022, USD Million
TABLE 28 Europe Blockchain in Insurance Market by Country, 2023 - 2029, USD Million
TABLE 29 Germany Blockchain in Insurance Market, 2019 - 2022, USD Million
TABLE 30 Germany Blockchain in Insurance Market, 2023 - 2029, USD Million
TABLE 31 Germany Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
TABLE 32 Germany Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
TABLE 33 Germany Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
TABLE 34 Germany Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
TABLE 35 Germany Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
TABLE 36 Germany Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
TABLE 37 UK Blockchain in Insurance Market, 2019 - 2022, USD Million
TABLE 38 UK Blockchain in Insurance Market, 2023 - 2029, USD Million
TABLE 39 UK Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
TABLE 40 UK Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
TABLE 41 UK Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
TABLE 42 UK Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
TABLE 43 UK Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
TABLE 44 UK Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
TABLE 45 France Blockchain in Insurance Market, 2019 - 2022, USD Million
TABLE 46 France Blockchain in Insurance Market, 2023 - 2029, USD Million
TABLE 47 France Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
TABLE 48 France Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
TABLE 49 France Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
TABLE 50 France Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
TABLE 51 France Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
TABLE 52 France Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
TABLE 53 Russia Blockchain in Insurance Market, 2019 - 2022, USD Million
TABLE 54 Russia Blockchain in Insurance Market, 2023 - 2029, USD Million
TABLE 55 Russia Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
TABLE 56 Russia Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
TABLE 57 Russia Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
TABLE 58 Russia Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
TABLE 59 Russia Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
TABLE 60 Russia Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
TABLE 61 Spain Blockchain in Insurance Market, 2019 - 2022, USD Million
TABLE 62 Spain Blockchain in Insurance Market, 2023 - 2029, USD Million
TABLE 63 Spain Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
TABLE 64 Spain Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
TABLE 65 Spain Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
TABLE 66 Spain Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
TABLE 67 Spain Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
TABLE 68 Spain Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
TABLE 69 Italy Blockchain in Insurance Market, 2019 - 2022, USD Million
TABLE 70 Italy Blockchain in Insurance Market, 2023 - 2029, USD Million
TABLE 71 Italy Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
TABLE 72 Italy Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
TABLE 73 Italy Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
TABLE 74 Italy Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
TABLE 75 Italy Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
TABLE 76 Italy Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
TABLE 77 Rest of Europe Blockchain in Insurance Market, 2019 - 2022, USD Million
TABLE 78 Rest of Europe Blockchain in Insurance Market, 2023 - 2029, USD Million
TABLE 79 Rest of Europe Blockchain in Insurance Market by Enterprise Size, 2019 - 2022, USD Million
TABLE 80 Rest of Europe Blockchain in Insurance Market by Enterprise Size, 2023 - 2029, USD Million
TABLE 81 Rest of Europe Blockchain in Insurance Market by Component, 2019 - 2022, USD Million
TABLE 82 Rest of Europe Blockchain in Insurance Market by Component, 2023 - 2029, USD Million
TABLE 83 Rest of Europe Blockchain in Insurance Market by Application, 2019 - 2022, USD Million
TABLE 84 Rest of Europe Blockchain in Insurance Market by Application, 2023 - 2029, USD Million
TABLE 85 Key Information – Amazon Web Services, Inc.
TABLE 86 key information – Microsoft Corporation
TABLE 87 Key Information – Oracle Corporation
TABLE 88 Key information – IBM Corporation
TABLE 89 Key Information – RecordsKeeper
TABLE 90 Key Information – Symbiont
TABLE 91 Key Information – Xceedance
TABLE 92 Key Information – Auxesis Services & Technologies (P) Ltd.
TABLE 93 Key Information – Cornerstone Insurance Brokers Ltd.
TABLE 94 Key Information – ConsenSys Software Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 SWOT analysis: Amazon.com, Inc.
FIG 3 SWOT Analysis: Microsoft Corporation
FIG 4 SWOT analysis: Oracle Corporation
FIG 5 Swot analysis: IBM Corporation