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Matthias Knab, Opalesque: According to IDC's new Worldwide Semiannual Blockchain Spending Guide, Europe will be the second-largest investor in blockchain technologies. With a compound annual growth rate (CAGR) of 80.2% for 2017-2022, Europe will increase its spending from around $400 million in 2018 to $3.5 billion in 2022, helping it to close the gap with the U.S., the biggest blockchain investor.
2017 was a significant year for blockchain in Europe, with companies asking themselves how blockchain solutions can help simplify, improve, and secure their businesses. A recent IDC survey across Europe, however, revealed there is still some way to go in terms of understanding blockchain applicability and usefulness, especially among smaller European companies.
"The European market is less flexible than other regions, and is also more fragmented in terms of business size," said Carla La Croce, senior research analyst, Customer Insights and Analysis, IDC. "Nevertheless, as IDC has already highlighted, 2018 is still the year of blockchain, and European companies are showing increasing interest, supported by growing investments. Companies recognize the importance of the technology and are starting to explore how it can be deployed in their business, going beyond pilots and identifying the best use cases."
According to Mohamed Hefny, systems and infrastructure solutions program manager at IDC CEMA, "Blockchain offers a huge opportunity for st...................... To view our full article Click here
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