The Decentralized Future: How Web 3.0 Market is Transforming the Digital Landscape
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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, April 5, 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 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.
However, industry experts believe that the global Web 3.0 market will regain traction in the post-COVID scenario. The report further offers a preliminary and a future assessment of the pandemic’s impact on this lucrative business space. The global Web 3.0 market witnesses the significant presence of a large number of companies performing consistently to achieve optimal market growth. The current market standing of these companies, their past performances, the demand & supply graphs, sales network, production & consumption patterns, and distribution channels have been extensively discussed in this report. Furthermore, the report points out the effective business approaches undertaken by the market players to enhance their product portfolios and prosper considerably.
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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
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.
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Global Web 3.0 Market Report - Segmental Analysis:
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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Key Benefits For Stakeholders:
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A detailed analysis of the factors that drive and restrict the growth of the minimally invasive surgical systems market is provided.
Extensive analysis of key segments demonstrates the types of energy devices, access equipment, and visualization & documentation systems used in minimally invasive surgeries.
A comprehensive analysis of the geographical landscape provides detailed information about various regions across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report offers a competitive landscape of the minimally invasive surgical systems market to assist players to gain insights into the competition scenario. Key companies operating in the market are profiled to provide valuable insights.
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Web 3.0 Market Size Worth USD 81.5 Billion in 2030
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