The Europe Blockchain Technology Market would witness market growth of 50.6% CAGR during the forecast period (2021-2027). Blockchain technology is a distributed database technology that records every transaction & digital event that are executed and shared with several related parties. All the transaction in the public ledger is authenticated by an agreement among various stakeholders in a company. It has a clear & definite record of all the occurred transaction.
Several blockchain-based identity platforms are used in unregulated nations or nations with poor identification systems. There are many governments that are using blockchain technology-based identification platforms at the national level to encourage security & transparency in transactions around all over the public and private sectors. In addition, these digital identity platforms, which use blockchain technology, helps in minimizing bureaucracy & digitalize every public transaction. With the increasing initiatives of governments to digitalize identity systems across the world, the blockchain technology market has witnessed rapid growth. One of the examples of such programs is in Estonia where blockchain technology used at the national level for its e-citizenship program in 2018.
The Germany market dominated the Europe Small & Medium Enterprises Blockchain Technology Market by Country 2020, thereby, achieving a market value of $1,621.2 million by 2027. The UK market is exhibiting a CAGR of 51.7% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 54% during (2021 - 2027).
Based on Type, the market is segmented into Public, Private and Hybrid. Based on Component, the market is segmented into Infrastructure & Protocols, Application & Solution and Middleware. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Media & Entertainment, Manufacturing and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Blockchain Technology Market Size will Hit $72 Billion by 2027, at a CAGR of 51.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon.com, Inc., Microsoft Corporation, Hewlett Packard Enterprise Company, IBM Corporation, Circle Internet Financial Limited, Digital Asset Holdings, LLC, Global Arena Holding, Inc., The Linux Foundation, Monax Industries Limited, and Interstellar.
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