The Global Web 3.0 Blockchain Market accounted for US$ 1231.54 million in 2020 and is estimated to be US$ 87761.35 million by 2030 and is anticipated to register a CAGR of 45.20%. Web 3.0 will develop from the natural evolution of older-generation web tools combined with cutting-edge technologies like AI and blockchain, as well as greater internet usage and user connectedness. Internet 3.0 appears to be a step forward from its forerunners, web 1.0 and 2.0. Web 3.0 refers to the upcoming third generation of the internet, in which websites and apps will be able to analyse data in a human-like manner using technologies like machine learning (ML), Big Data, and decentralised ledger technology (DLT), among others. Web 3.0, termed the Semantic Web by Tim Berners-Lee, the creator of the World Wide Web, aims to create a more autonomous, intelligent, and open internet.
The Web 3.0 Blockchain sector is rapidly growing, with a growing emphasis on decentralised data ledgers. The considerable benefits of Web 3.0 blockchain, notably in the cryptocurrency industry, have drawn significant R&D investments and grants for the technology’s further development. Web 3.0’s ability to prevent internet attacks and breaches by ensuring data security and privacy further boosts industry growth. Digitalization, gambling, and non-fungible tokens (NFTs) are all being transformed by cryptocurrency. The industry is expected to grow significantly in the next years as Web3 becomes more extensively embraced.
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Key Highlights of Web 3.0 Blockchain Market:
- Dubai stated in March 2022 that it had enacted a new cryptocurrency law to oversee the activities of digital assets and cryptocurrencies as it strives to become a Web 3.0 powerhouse. The UAE intends to establish a Dubai Virtual Assets Regulatory Authority under the new law, which will be in charge of regulating blockchain-based virtual assets.
- In 2022, Adrix, a global leader in building benchmarked indexes based on individual performance, has announced AllStars Digital (ASD), the first-of-its-kind ecosystem that will tokenize and support the trading of a wide range of sports-related alternative assets, such as player-based digital assets.
Key Market Insights from the report:
Global Web 3.0 Blockchain Market accounted for US$ 1231.54 million in 2020 and is estimated to be US$ 87761.35 million by 2030 and is anticipated to register a CAGR of 45.20%. Global Web 3.0 Blockchain Market is segmented into blockchain type, application, end-user and region.
By Blockchain Type:
Public, Private, Consortium, and Hybrid.
Cryptocurrency, Conversational AI, Data & Transaction Storage, Payments, Smart Contract, and Others.
BFSI, E-commerce & Retail, Media & Entertainment, Healthcare & Pharmaceuticals, IT & Telecom, and Others.
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Web 3.0 Blockchain Market:
The key players operating in the Global Web 3.0 Blockchain Market includes Polkadot (Web3 Foundation), Helium Systems Inc., Ocean Protocol Foundation Ltd., Decentraland, Flux, Filecoin, Kadena, ZCash, etc. Various countries around the world are working to legalise the usage of cryptocurrencies in order to attract new participants and boost economic growth. For instance, in March 2022, Dubai announced the adoption of a new cryptocurrency law to control the activities of digital assets and cryptocurrencies as part of its efforts to become a Web 3.0 hub. The UAE intends to establish a Dubai Virtual Assets Regulatory Authority under the new law, which will be in charge of regulating blockchain-based virtual assets.
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Global Web 3.0 Blockchain Market, By Blockchain Type:
Global Web 3.0 Blockchain Market, By Application:
- Conversational AI
- Data & Transaction Storage
- Smart Contract
Global Web 3.0 Blockchain Market, By End-user:
- E-commerce & Retail
- Media & Entertainment
- Healthcare & Pharmaceuticals
- IT & Telecom
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Global Blockchain Market, By Application (Payments, Clearing and settlement, Digital identity, and Documentation), By End-User (Banking Sector, Insurance Sector, Financial Institutes, Government and Public Sector, Retail and Ecommerce Sector, and Automotive Sector), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) – Trends, Analysis and Forecast till 2029 https://www.prophecymarketinsights.com/market_insight/Global-Blockchain-Market-By-Application-468
Global Blockchain In Banking Sector Market, By Type (Public Blockchain, Private Blockchain, Hybrid Blockchain), By Payment Verticals (Inter-Bank Transfers, Cross-Border Transfers & Remittances, Retail & P2P Payments, Corporate Payments), By Application (Clearance & Settlements Systems, Trading Finance Platforms, E-KYC, Smart Contracts, Regulatory Reporting & Compliance) – By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Market Trends, Analysis, and Forecast Till 2029
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Estimation
- Top-Down Approach
- Bottom-Up Approach
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Opportunities
- Market Trends
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
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