Exploring Web 3.0 Market : Size, Growth, Trends, and Forecast
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Rapid advancements in blockchain technologies and shift in data ownership towards users are some key key factors expected to drive market revenue growth
VANCOUVER, BC, CANADA, January 31, 2023 /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 arebuilt 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 latest market intelligence report serves as a prototype of the global Web 3.0 market, including the ToC, List of Tables and Figures, Research Methodology, Geographic Segmentation, Competitive Landscape, Future Developments, and Technological Innovation. The report is the latest document covering the massive impact of the COVID-19 pandemic on the worldwide Web 3.0 industry. The globally-disrupting incidence has impacted nearly every aspect of this business domain. The latest study expounds on the present market scenario and forecasts the pandemic’s aftermath in this industry. Furthermore, the market’s most prominent aspects have been discussed in the report, with expert opinions on the current market status.
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Some Key Highlights from the Report
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.
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.
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Major Players/Manufacturers 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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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
Application Outlook (Revenue, USD Billion; 2019–2030)
Cryptocurrency
Conversational Al
Data and Transaction Storage
Payments
Smart Contract
Others
Key Geographies Profiled in the Report:
North America(the U.S., Mexico, and Canada)
Asia Pacific(China, Japan, India, and Rest of Asia Pacific)
Europe(the U.K., France, Germany, and Rest of Europe)
Latin America(Brazil and Rest of Latin America)
Middle East & Africa(GCC Countries and Rest of Middle East & Africa)
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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
