The “Europe Blockchain Technology Market (2018-2024): Market Forecast by Technology Types, by Applications, by End-Users, by Countries, and Competitive Landscape” report is now available on ResearchAndMarkets.com. The website serves as an online platform to provide market and research data from publishers, consultants, and analysts.
Europe Blockchain Technology Market Report Findings
The market report is a thorough account of Europe’s blockchain technology market, presenting information by technology type, end user, applications and countries. The report proffers a forecast of the European blockchain market in the next six years.
It declares that the key blockchain technology players in the European market include IBM, R3, Intellectsoft, Limechain, Bitfury, N-iX, Digital Asset holdings, and Microsoft.
The blockchain technology report also includes a detailed and impartial analysis of the opportunities, high-growth areas, continuing trends and market drivers. The latter helps stakeholders formulate and align strategies in the market based on the current and future market dynamics.
The report forecasts that the Europe blockchain technology market is projected to grow at a compound annual growth rate (CAGR) of 52.4% during the years 2018-24.
The European Blockchain Technology Market
The European market is increasingly accepting blockchain technology, which is largely a result of increased government initiatives that plan on improving the technology. The expanding market is also due to higher demands for the secured database.
These factors account for the general growth in Europe’s blockchain technology market.
The report foretells that blockchain technology will also see a high growth partially due to its host of benefits, such as, immutability, transparency and security from cyber-attacks. These benefits give blockchain an alternative edge to traditional financial solutions and they will be realized more so in the coming years.
The report has filed a strong blockchain revenue growth during 2014-17, which is chalked up to a surge in demand from end users including the government, the public sector, banking, real estate and BFSI (financial services and insurance). The BFSI industry in particular has seen a shift from centralized systems to a decentralized distributed ledger ecosystem.
The real estate segment has also tilted towards the use of blockchain technology, given blockchain’s ability to continuously record and share information, reducing the time on the process and minimizing the risk of fraud.
The European blockchain market has Switzerland at the forefront of its market share in terms of its revenues, owing to the institution of crypto valley and the various blockchain projects in the country.
Malta has also crucially contributed to the overall blockchain technology market and is anticipated to accumulate considerable growth during the forecast period. This is in part due to major companies in the industry such as Binance and OKEx having relocated to Malta.
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