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Market Growth – at a CAGR of 43.7%, Market Trends – Rising demand from Banking, Financial Services, and Insurance sector

VANCOUVER, BC, CANADA, July 19, 2022 /EINPresswire.com/ -- The global Web 3.0 market size reached USD 3.2 Billion in 2021 and is expected to register a revenue CAGR of 43.7% during the forecast period, according to latest analysis by Emergen Research. Emergence of 5G and 6G networks along with blockchain technologies and launch of new Web 3.0 dApps and Web3 wallets is a major factor projected to drive market revenue growth between 2021 and 2030. Web 3.0 is driven by Machine Learning (ML) and Artificial Intelligence (AI), which allows computers to analyze large volumes of data and aids in distribution of content based on a users’ specific needs. Web 3.0 apps are built on decentralized networks of several peer-to-peer servers, blockchains, or hybrid of the two, in which developers are rewarded for providing high-quality services, thereby establishing a stable and secure decentralized network.

The study on the Global Web 3.0 Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Web 3.0 market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Web 3.0 industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Web 3.0 industry.

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Some Key Highlights from the Report
Artificial Intelligence segment revenue is expected to register a rapid rate during the forecast period. Web 3.0 machines can read and decipher data, and creation of intelligent machines will certainly offer numerous benefits and advantages in future. Web 2.0 has similar capabilities, but is primarily human-based, which allows corrupt behaviors such as rigged ratings, biased reviews, and others. Moreover, Al distinguishes between genuine and fake, which is a major advantage for various reasons.

Cryptocurrency segment is expected to register fastest revenue growth rate during the forecast period. Web 3.0 is the latest version of public blockchains, which is a record-keeping system for cryptocurrency transactions. Web 3.0 protocols rely majorly on cryptocurrencies. Users can also avail monetary incentives, rewards, and points for helping to create, govern, contribute, or improve any projects.

Market in Asia Pacific is expected to register fastest revenue growth rate during the forecast period due to consistently high demand for Web 3.0 systems from various end-use sectors such as BSFI, e-Commerce and retail, healthcare and pharmaceuticals, and others.

On 17 December 2021, Government of Telangana, India, CoinSwitch Kuber, and Lumos Labs announced launch of India Blockchain accelerator to support blockchain entrepreneurs. As part of the accelerator, selected blockchain entrepreneurs will be able to secure government accreditation, go-to-market support, grant support, and mentorship. Selected participants will also get an opportunity to raise pre-seed and seed investments of USD 700,000 or more from investment partners Lightspeed and WoodstockFund.

Leading Companies of the Web 3.0 Industry and Profiled in the Report are:

Web3 Foundation, Helium, Ocean Protocol Foundation Ltd., Decentraland, Binance, Alchemy Insights, Inc., Crypto.com, Coinbase, Ripple, and Highstreet

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Furthermore, the report divides the Web 3.0 market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.

Emergen Research has segmented the global Web 3.0 market on the basis of type, blockchain type, organization size, application, vertical, and region:

Type Outlook (Revenue, USD Billion; 2019–2030)
Ubiquity

Semantic Web

Artificial Intelligence (AI)

3D Graphics

Others

Blockchain Type Outlook (Revenue, USD Billion; 2019–2030)
Public

Private

Consortium

Hybrid

Others

Organization Size (Revenue, USD Billion; 2019–2030)
Small and Medium-Sized Enterprises

Large Enterprises

Application Outlook (Revenue, USD Billion; 2019–2030)
Cryptocurrency

Conversational Al

Data and Transaction Storage

Payments

Smart Contract

Others

Vertical Outlook (Revenue, USD Billion; 2019–2030)
BFSI

E-commerce & Retail

Media & Entertainment

Healthcare & Pharmaceuticals

IT & Telecom

Others

Regional Analysis:

The report sheds light on the region expected to dominate the Web 3.0 market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Web 3.0 market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.

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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.

Key Points of Web 3.0 Market:

Extensive coverage of the analysis of the Web 3.0 market

Key insights into the regional spread of the industry in key geographies

Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market

Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Web 3.0 market

Complete data about the key manufacturers and vendors in the Web 3.0 market

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Thank you for reading our report. Customization of this report is available in chapter-wise or region-wise sections. Kindly get in touch with us to know more about the report, and our team will provide excellent assistance.

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Web 3.0 Market Size Worth USD 81.5 Billion in 2030

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