At 9.5% CAGR, Europe Voting Management Software Market is Projected to be Worth US$ 184.67 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Europe voting management software market was valued at US$ 89.63 million in 2022 and is expected to reach US$ 184.67 million by 2030, registering a CAGR of 9.5% from 2022 to 2030. Product enhancement to improve voter engagement and experience and embracing blockchain technology in elections are among the critical factors attributed to drive the Europe voting management software market growth.

In today's fast-paced world, technology is constantly transforming and evolving numerous industries. One area that stands to benefit significantly from technological advancements is the electoral process. Blockchain, the innovative technology behind cryptocurrencies such as Bitcoin, has the potential to revolutionize voting systems and usher in a new era of secure, transparent, and accessible digital voting. Blockchain technology has found numerous applications in various sectors, such as finance, supply chain management, and healthcare, owing to its secure and transparent nature. One of its most promising applications lies in the realm of elections and voting systems. Blockchain-based digital voting systems offer a comprehensive solution to many of the challenges faced by traditional voting systems. By ensuring voter anonymity, secure identity verification, vote integrity, improved accessibility, and increased efficiency, these systems have the potential to revolutionize the way elections are conducted and improve the democratic process. Blockchain-based digital voting offers various advantages, such as voter anonymity and vote traceability, secure voter identity, vote integrity and immutability, improved accessibility, increased efficiency, cost reduction, and elimination of electoral commissions. While maintaining voter anonymity is essential to protect the privacy of individuals, it is equally important to ensure that each vote can be traced back to an eligible voter. Blockchain-based voting systems can use cryptographic techniques like zero-knowledge proofs, which allow voters to prove their eligibility without revealing their identity. This ensures that only eligible voters can participate while keeping their vote choices private. Also, blockchain-based voting systems can automate the vote-counting process, reducing the risk of human error and speeding up the announcement of results. As votes are recorded in real-time on the blockchain, they can be tallied almost instantaneously, ensuring a swift and accurate outcome. Therefore, due to the above factors, embracing blockchain technology in elections is anticipated to be a good opportunity for the voting management software market.

On the contrary, increase in cyberattacks hampers the growth of Europe voting management software market.

Based on deployment type, the Europe voting management software market is bifurcated into cloud-based and on-premise. The cloud-based segment held 91.8% market share in 2022, amassing US$ 82.24 million. It is projected to garner US$ 171.56 million by 2030 to register 9.6% CAGR during 2022–2030.

In terms of offering, the Europe voting management software market is segmented into platform ballot management, platform performance, event support, audience engagement, and others. The platform ballot management segment held 42.2% share of Europe voting management software market in 2022, amassing US$ 37.81 million. It is anticipated to garner US$ 81.64 million by 2030 to expand at 10.1% CAGR during 2022–2030.

By end user, the Europe voting management software market is divided into association, government, enterprise, and others. The association segment held 42.8% share of Europe voting management software market in 2022, amassing US$ 38.37 million. It is projected to garner US$ 83.34 million by 2030 to expand at 10.2% CAGR from 2022 to 2030.

Based on country, the Europe voting management software market is categorized into Germany, the UK, France, Italy, Switzerland, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 26.8% share of Europe voting management software market in 2022. It was assessed at US$ 24.06 million in 2022 and is likely to hit US$ 53.44 million by 2030, registering a CAGR of 10.5% during 2022–2030.

Key players operating in the Europe voting management software market are BigPulse Voting Pty Ltd, ElectionBuddy Inc, Civica UK Ltd, Polyas GmbH, Scytl Election Technologies SLU, Seasia Infotech, and Assembly Voting Aps, among others.

• In 2023, Scytl’s public policy researcher, Adrià Rodríguez-Pérez (PhD), has been invited to participate in the Council of Europe ‘s upcoming conference: e-voting and Use of ICT in Elections. Adrià will be participating in a debate and round-table discussion on overcoming the challenges of implementing online voting and e-voting technologies.
• In 2023, POLYAS, a market leader in online elections, sends out electronic ballot documents using Retarus’ Transactional Email. The Munich-based enterprise cloud service provider ensures that the authentication via email for digital voting meets the strict security requirements of the German electoral law.

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