The global Web 3.0 Market is anticipated to reach USD 33.53 billion by 2030. The market is expected to expand at a CAGR of 49.3% during the forecast period, according to a new report by Grand View Research, Inc. The ability of Web 3.0 to authorize the users to use the decentralized blockchain technology for accessing the decentralized applications is the major factor driving the market growth. Web 3.0 provides perception based on the users’ search content and allows them to control their data on websites.
Web 3.0 technology is also used in social network
platforms that aim to improve the customer experience, such as how customers
communicate, interact and form communities. Rising investments in Web 3.0
blockchain technology to expand its application is a significant factor driving
the growth of the industry. For instance, according to the statistics of
Venture Intelligence, a financial analysis company, Web 3.0 and crypto startups
have raised more than USD 1 billion in funding across 43 deals in the first six
months of 2022.
Numerous companies across the globe are also
focusing on launching Web 3.0 practices to help startups scale their businesses
and develop innovative solutions. For instance, in July 2022, KiwiTech, an
innovation ecosystem company, launched a Web 3.0 Center of Excellence service
to empower the next-generation blockchain innovations for startup companies.
Such a launch of services is expected to create lucrative growth opportunities
for the market during the forecast period.
List of Key Players in the Web 3.0 Market
- Web3 Foundation (Polkadot)
- Helium Systems, Inc.
- Ocean Protocol Foundation Ltd.
- Zel Technologies Limited.
- Kusama
- Livepeer, Inc.
- Filecoin
- Kadena LLC
- Polygon technology
- Terra
Request a free sample copy or view report summary: Web 3.0 Market Report
Web 3.0 Market Report Highlights
- The public segment dominated the market in 2023. The growth of the
segment can be attributed to the increased demand for public blockchain
technology owing to the free, secure, and permissionless accessibility to
anyone with internet access.
- The cryptocurrency segment dominated the market in
2023. Enterprises are increasingly in need of high-performance
cryptocurrency transaction services. Web 3.0 cryptocurrencies use
blockchain and smart contracts to automate transactions and eliminate the
need for a third-party entity which is anticipated to support the
segment's growth.
- The retail & e-commerce segment is anticipated to register the
fastest growth over the forecast period. Increasing demand for Web 3.0
blockchain in retail & e-commerce owing to benefits such as reduced
costs, faster payments, improved security, and increased transparency is
expected to fuel the segment's growth.
- The Asia Pacific regional market is anticipated to emerge as the
fastest-growing market during the projection period. The increasing
advancements in 5G, artificial intelligence, and machine learning is the
major factor driving the growth of the Asia Pacific region. Moreover,
growing investments in research & development of Web 3.0 is
anticipated to aid the growth.
- In June 2023, SailGP, an international sailing competition extended
its partnership agreement for additional three years with Oracle
Corporation. ‘The Dock’, a Web 3.0-integrated fan loyalty programme will
be powered by Oracle Customer Experience (OCX).
Web 3.0 Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2024 |
USD 3.03 billion |
|
Revenue forecast in 2030 |
USD 33.53 billion |
|
Growth Rate |
CAGR of 49.3% from 2024 to 2030 |
|
Base year for estimation |
2023 |
|
Historical data |
2019 - 2022 |
|
Forecast period |
2024 - 2030 |
Related Press Release@ Web
3.0 Industry Analysis
Web 3.0 Market Segmentation
Grand View Research has segmented the global Web 3.0
market on the basis of blockchain type, application, end use, and region:
Web 3.0 Blockchain Type Outlook (Revenue, USD
Million; 2019 - 2030)
- Public
- Private
- Consortium
- Hybrid
Web 3.0 Application Outlook (Revenue, USD Million;
2019 - 2030)
- Cryptocurrency
- Conversational AI
- Data & Transaction Storage
- Payments
- Smart Contracts
- Others
Web 3.0 End Use Outlook (Revenue, USD Million; 2019
- 2030)
- BFSI
- Retail & E-commerce
- Media & Entertainment
- Pharmaceuticals
- IT & Telecom
- Others
Web 3.0 Regional Outlook (Revenue, USD Million; 2019
- 2030)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- MEA
- Saudi Arabia
- UAE
- South Africa
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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