The Web 3.0 Blockchain Market is expected to gross USD 6,187.3 MN by 2023, the market value would further increase at a CAGR of 44.6% during the period 2023-2030

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“Web 3.0 blockchain market”

Devices as a Service (DaaS) Market Research Report: Insights by Component (Hardware, Solution [Software] And services [Professional Services and Managed Services]), Organization Size (Large and Small & Medium Enterprises), Vertical (BFSI, Healthcare, Manufacturing, Retail, IT & Telecom, Education, Government and Others) – Forecast to 2030

Web 3.0 Blockchain Market Research Report – Forecast to 2030

Market Highlights

The Web 3.0 blockchain market is growing steadily due to the increasing emphasis on decentralized data ledgers. The huge benefits of Web 3.0 blockchain, especially in the cryptocurrency industry, attract heavy R&D investments and grants for new developments in the technology. Also, the ability of Web3 to avoid internet hacks and leaks by providing data security and privacy increases the market size.

Cryptocurrencies are increasingly transforming the digitization and gaming and non-fungible token (NFT) spaces. As Web3 penetrates deeper, the market is expected to grow in popularity over the next few years. According to Market Research Future (MRFR), the global market Web 3.0 blockchain market is expected to reach USD 6,187.3m by 2023 and grow further at a CAGR of 44.6% over the assessment period (2022-2030).

There are huge market opportunities for the technology. Additionally, the importance of Web 3.0 Blockchain applications in several areas including BFSI, healthcare, and retail is accelerating the growth of the market. Moreover, the lack of integration capability would hamper the growth of the market, delaying the adoption of blockchain technology.

Nevertheless, advancements in analytical capabilities in communications and expansion of existing 3G/4G and 5G technologies would support the increase in the market throughout the analyzed period. Moreover, substantial R&D investments by public and private bodies are driving the growth of the market.

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Segmentation:

The report is segmented into blockchain types, applications, verticals and regions. The blockchain type segment is sub-segmented into public, private, consortium, and hybrid. Likewise, application segment is sub-segmented into conversational AI, cryptocurrency, data and transaction storage, smart contracts, payments and others.

The vertical segment is sub-segmented into e-commerce and retail, BFSI, media and entertainment, IT and telecommunications, healthcare and pharmaceuticals, and others. Further, by region, the market is sub-segmented into Americas, Asia Pacific, Middle East and Africa (MEA), Europe and Rest of the World.

Global Web 3.0 Blockchain Market – Regional Analysis

North America leads the global Web 3.0 blockchain market. The largest market share is attributed to the increased adoption of Web 3.0 and advancements in blockchain technologies. Additionally, extensive R&D investments in the advancement of web platforms are positively impacting the growth of the regional market.

The presence of a number of prominent market players and well-established development centers is increasing the market size of WEB 3.0 blockchain in the region. The United States accounts for the largest share in the regional market as well as the global market owing to the high adoption of digital assets and the penetration of cryptocurrencies.

The web 3.0 blockchain market in the Asia-Pacific region is emerging as a promising market globally. Factors such as massive investments by industry verticals in digital currency and major web 3.0 blockchain markets such as India, Australia, and China offer immense market opportunities.

China, Japan, and India are expected to experience rapid increases throughout the forecast period. The APAC Web 3.0 Blockchain Market is expected to create a substantial revenue pocket over the forecast period.

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Global Web 3.0 Blockchain Market – Competitive Analysis

Highly competitive, the Blockchain Web 3.0 market appears fragmented due to several well-established players. These players are adopting strategic approaches, such as mergers and acquisitions, innovation, and brand building to gain greater competitive share. They continuously invest to launch products and services in developing economies to take advantage of economic growth in these regions.

Main actors :

Major players in the global web 3.0 blockchain market include Helium Systems Inc., Polkadot (Web3 Foundation), Ocean Protocol Foundation Ltd. and Decentraland.

Industry/ Innovation/ Related News

January 21, 2022 – Mphasis, an information technology solutions company, announced a partnership with CrossTower, a world-leading crypto exchange, to implement CoE for web 3.0, blockchain technology. The new Center of Excellence (CoE) focuses on Web 3.0 and a series of blockchain-based products.

These companies would co-invent industry-specific technical and operational solutions for digital assets, decentralized finance (DeFi), cryptocurrencies, and Web 3.0. These products would be launched and traded on the CrossTower platform.

Additionally, the partnership aims to scale Web 3.0 talent within Mphasis, providing new avenues for innovative applications of blockchain-based solutions in public and private sectors, such as financial services, healthcare and services. life sciences, supply chain, logistics, insurance, entertainment, art and retail.

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Web 3.0 Blockchain Market Research Report: Insights by Blockchain Type (Public, Private, Consortium, Hybrid), By Application (Cryptocurrency, Conversational AI, Data and Transaction Storage, Payments, Smart Contract, Others) ), Vertical (BFSI, E-Commerce & Retail, Media & Entertainment, Healthcare & Pharma, IT & Telecom, Others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America]) – Forecasts until 2030

About Market Research Future:

To Future Market Research (MRFR), we enable our clients to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous Feed Research (CFR) and Studies market and advisory services .

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