Corporation International Data (IDC, for its acronym in English), through their most recent Guide expenditure semi-global blockchain, reports that the expenses on this type of technologies on the european continent could reach us $ 4.900 billion for the year 2023.The statistical data published this 27th of August on the website of the IDC, they notice a gradual increase in spending on the technologies and blockchains in Europe, estimated at more than USD 800 million by the close of 2019, with a compound annual growth rate (compound annual growth rate or CAGR) of 65.1% between 2018 and 2023.De according to the guide, it is estimated that the investments in the industrial sector or process manufacturing with a growth of 69% between 2018 and 2023. In addition, it is anticipated that the professional services and the retail trade to increase their investments in 68% in the same period. Meanwhile, the industry sector discrete manufacturing you would in 67%, and the banking sector at 66%.The firm noted that in 2019, the banking still represents 31% of total spending in the chain of blocks, and the use cases in banking, including cross-border payments and trade finance, are experiencing rapid growth. He stressed that, in addition to banking, other industries are increasingly stepping up and participating in the digital transformation”. In that sense, identity management is one of the use cases on the rise in Europe.
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To reduce the risks
IDC says that blockchain has enabled companies to eliminate intermediaries, saving costs and reduce risks of fraud and human error. He argued also that it is becoming crucial for european companies to have an effective and safe way to store, protect and use the personal data of the consumers in the sectors of insurance, banking, government, personal services and consumption. This is why you are using blockchains for a variety of purposes, including i-voting (Internet/electronic voting) and intellectual property management.About it, Carla La Croce, senior research analyst at IDC, noted that, “companies are starting to see blockchain, not just for its resources related to the cryptocurrencies, but rather as a management tool that can track the articles, the information and data of clients”. Under his optics, “as the spending continues to grow, the more likely it is that the market adapts and the safety and soundness will become a standard for the customer, with more companies using blockchain for a secure and reliable solution”.For his part, Mohamed Hefny, Program manager, Solutions, Systems and Infrastructure at IDC, believes that there are some challenges that are subject to the lack of rules and regulations, and the way to achieve that small producers of goods, such as farmers and fishermen, to use the business platforms. Despite this, you believe it is promising the fact that the European Commission recognizes the importance of this type of technology.
The united states and Europe, that invest the most
At the beginning of this month of August, IDC issued a report that revealed that the country with higher levels of investment in projects of blockchains in this year is the united States, spending on technology solutions criptoactivos estimated at almost $ 1,100 million. Such figures reveal a trend that is maintained over time, since for the period 2017-2022 , Western Europe occupies the second place in this projection (USD 661 million), followed by China and the asian countries of the Pacific area (excluding Japan).Finally, the IDC considered that the technologies blockchains, will allow large companies and emerging firms to ensure a market digitized and based on data, to ensure a management that is reliable over assets, money, and personal data of the consumers.