Part 3/8:
Presently, Europe boasts impressive indicators of societal achievement, such as high industrial strength, quality education, and robust public health systems. With some of the world's leading universities situated within its borders, the continent produces a wealth of talent. Yet, despite significant investments—over €381 billion in research and development in 2023—its consumer tech landscape remains sparse compared to the U.S. or Asia.
While the likes of Spotify, ASML, and SAP exist, they primarily operate in B2B sectors rather than consumer-facing domains, leading to a pronounced absence of widely recognized European tech brands. The disparity in market capitalization is stark, with U.S. companies holding trillions in value versus Europe's mere €2.2 trillion.