To know the impact of COVID-19 On Web 3.0 Blockchain Market Size, Share & Trends Analysis Report By Types (Public, Private, Consortium, Hybrid) By Applications (Cryptocurrency, Conversational AI, Data & Transaction Storage, Payments, Smart Contract, Others) By Verticals (BFSI, E-commerce & Retail, Media & Entertainment, Healthcare & Pharmaceuticals, It & Telecom, Others) Based On Region, And Segment Forecasts, 2022 - 2028
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Global Web 3.0 Blockchain Market is valued at USD 3.42 Billion in 2021 and expected to reach USD 41.98 Billion by 2028 with a CAGR of 42.5% over the forecast period.
Global Web 3.0 Blockchain Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing demand for decentralized blockchain technology for safe currency transactions leads to driving the growth of the Global Web3 Market.
Scope of Global Web 3.0 Blockchain Market:-
Web 3.0 technology is the latest technology in the market. It is considered as the internet of the future, Web 3.0 authorize users and developers to use decentralized blockchain technology. In simpler terms, decentralized blockchain networks make ease and smooth Web 3.0, marketplaces, social media platforms, search engines and many other such services. Web3 provides customize perception based on users browsing and search content, where users can control their data. Additionally, Web 3.0 built on the blockchain which are able improve services such as uncensorable content and more complicated payment services. As most of users seek to traditional services, decentralized blockchain networks can be replace centralized servers and information on multiple computing devices, which will be more like a peer-to-peer internet with no single authority. The major benefit of Web3 is that its ability to keep away from internet hacks and leaks, which act as a system for specific users, thus being a great pioneer for data security and privacy. As Web 3.0 becomes a reality, the world can see virtually resources, applications, and content which is accessible to all.
The Covid-19 pandemic has overblown every segment of society, including individuals and businesses. The internet ecosystem has been playing a crucial role all over the globe. Due to the pandemic, the most of the business got dependent on online businesses. Due to the pandemic crisis, most of governments and regulatory authorities have mandated both public and private companies to adopt new practices of teleworking and maintaining social distance. Due to this, the digital ways of doing business and usage of emails with home servers became the new business continuity plan (BCP) for many organizations. Due to the worldwide use of mobile devices and internet penetration, individuals are gradually inclined towards the use of blockchain.
Global Web 3.0 Blockchain Market Segmentation:-
The global web 3.0 blockchain market is segmented on the basis of type, application, vertical and region and country level. On the Basis of type, the market is segmented, into public, private, consortium and hybrid. On the Basis of application, the market is segmented as cryptocurrency, conversational AI, data & transaction storage, payments, smart contracts and others. On the Basis of vertical, the market is segmented into BFSI, e-commerce & retail, media & entertainment, healthcare & pharmaceuticals, IT & telecom and others.
- Conversational AI
- Data & Transaction Storage
- Smart Contract
- E-commerce & Retail
- Media & Entertainment
- Healthcare & Pharmaceuticals
- It & Telecom
Key Players of Global Web 3.0 Blockchain Market:-
Global web 3.0 blockchain market report covers prominent players like
- Helium Systems Inc.
- Polkadot (Web3 Foundation)
- Ocean Protocol Foundation Ltd.
- many others
News: WazirX Founder Launched New web 3.0 Platform Meant to Solve Scaling Issues
On February 2nd, 2022; Wazir X founder Nischal Shetty and blockchain architect Omar Syed have launched a new platform web 3.0 called Shardeum, which has been built to tackle one of the fundamental problems of web 3.0 platforms, scaling. Web 3.0 refers to the third generation of the Internet, which is mainly built using blockchain technology and is powered by cryptocurrencies.
Flux Crypto Turns Up Web 3.0 Development With Nvidia Partnership
On January 10th, 2022; Flux is one crypto play that’s truly exciting Web 3.0 bulls. Flux is a project that wants to challenge the web service products of tech giants like Amazon and Alphabet. The cloud software outfit offers a suite of products that compete with the offerings of that of Amazon Web Services, but with the added bonus of being decentralized. And, Nvidia is a tech company that is coming more into public view throughout the chip shortage. Now, Nvidia is stepping into the world of crypto and Web 3.0 by announcing an Inception partnership with Flux. As a premier partner, Flux is one of just a few projects with the highest level of access to Nvidia’s engineers and marketers, who will be able to offer support to the project. The partnership is forged out of an interest Nvidia shares with Flux and other Web 3.0 projects to further the success of a decentralized internet. And now, Flux will have a vast array of tools at its disposal to beef up its offering and ensure future innovation.
Global Venture Antler is Investing in Web3, Blockchain Startups in India
On December 8th, 2021; Global venture capital firm Antler planned to invest up to a third of capital investment planned in India in backing Web 3, as the new version of the Internet is known, and blockchain projects. Antler planned to deploy $100-150 million in more than 100 startups in India over the next 3 years. As part of this initiative, Antler’s partners will include Solana and Polygon, as well as Questbook, Web3 developer communities. Antler has built an existing portfolio of 14 Web 3 and blockchain ventures, including Hodlnaut, Art Wall Street, Alpha Impact and Xanpool. Globally, Antler is doubling down on the decentralization theme as well, and plans to expand its portfolio to 100+ blockchain start-ups over the next few years.
Global Web 3.0 Blockchain Market Dynamics:-
The Web3 technology experienced a rapid increase after the introduction of Bitcoin and is already being used by various financial institutions for carrying out transactions. The increasing usage of Web 3.0 technology solutions has been in a high popularity in the last 2–3 years for many business applications, like smart contracts, payments, documentation, exchanges, and digital identity. Additionally, many startups have entered into Web 3.0 market and started developing and inventing blockchain technology solutions. Investments of venture capitalists in the blockchain technology have been tripled in 2021. The Venture Capital did capital investments in many such firms which resulted in the formation of blockchain VC firms like Boost VC and Node Capital. For example; Digital Currency Group a VC firm which was founded in 2015, have invested in fintech, cryptocurrency, and blockchain companies and has completed more than 197 blockchain and crypto deals until August 2021; the company’s recent investments was in Figure Technologies and in Circle, both of company develop technology to facilitate financial transactions
In addition, the government’s regulatory uncertainty remains a concern in the blockchain market. Till now there is lack of regulations and uncertainties continue to be some of the biggest restraining factors for the adoption of blockchain among most companies. Additionally some countries have banned the use of ICOs. Regulatory acceptance and adoption is one of the biggest restrain in transforming transaction systems. Many financial institutions worldwide are working to find common standards for blockchain technology. Web 3.0 technology has a great potential in various application areas, such as banking, cybersecurity, and IoT. The increasing usage of IoT devices is observed in several application areas, such as smart city projects, smart transportation, vehicular connectivity and autonomous vehicles, smart grids, and smart homes.
Global Web 3.0 Blockchain Market Regional Analysis:-
North America is expected to dominate the global web 3.0 blockchain market owing to the presence of major players and increasing acceptance of innovative technologies such as Web 3.0. in most of its operating systems. Additionally, advancements in blockchain technologies have impacted positively towards the growth of the North America regional market. The North America invest high in R&D in advancing web platforms. The strong presence of eminent technology providers, key market players and well-established development centers of Web 3.0 leads to boost the market growth in this region.
Europe is having significant progress in terms of Web 3.0 market revenue. The rapid digital transformation among the BFSI industry and enterprises across industries are one of the major driving factor in European region. Moreover, the increasing adoption of Web 3.0 is a key growth driver for the market. Additionally, the increase in usage of 5G, Artificial Intelligence, and ML technology increases the region's WEB 3.0 market shares.
APAC is another profitable market for Web 3.0, observing higher adoption among end-use industry verticals. Additional factors strengthening the market value include the increasing usage of Web 3.0 and advances in 5G technology and AI/ML acceleration in this region. Furthermore, considerable investments in R&D on developing Web 3.0 leads to increase the regions market shares.
On Special Requirement Web 3.0 Blockchain Market Report is also available for the below Regions and Countries:
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
Key Benefits for Global Web 3.0 Blockchain Market Report:-
- Global web 3.0 blockchain market report covers in-depth historical and forecast analysis.
- Global web 3.0 blockchain market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country levels.
- Global web 3.0 blockchain market report helps to identify opportunities in the marketplace.
- Global web 3.0 blockchain market report covers extensive analysis of emerging trends and the competitive landscape.
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Web 3.0 Blockchain Market Size, Share, Industry Trends Analysis By 2028
Web 3.0 Blockchain Market Size, Share & Trends Analysis Report By Types (Public, Private, Consortium, Hybrid) By Applications (Cryptocurrency, Conversational AI, Data & Transaction Storage, Payments, Smart Contract, Others) By Verticals (BFSI, E-commerce & Retail, Media & Entertainment, Healthcare & Pharmaceuticals, It & Telecom, Others) Based On Region, And Segment Forecasts, 2022 - 2028
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