Market Highlights

The Web 3.0 Blockchain market is witnessing constant growth due to the growing emphasis on decentralized data ledgers. Huge benefits of Web 3.0 blockchain, especially in the cryptocurrency industry, attract heavy R&D investments and grants for further developments of the technology. Besides, the ability of Web3 to avoid internet hacks and leaks by offering data security and privacy boosts the market size.

Cryptocurrencies are increasingly transforming the digitization and gaming & non-fungible tokens (NFTs) spaces. As Web3 penetrates more deeply, the market is expected to garner significant traction in the next few years. According to Market Research Future (MRFR), the global Web 3.0 Blockchain market is estimated to reach USD 6,187.3 MN by 2023 and grow further at 44.6% CAGR during the assessment period (2022-2030).

There are tremendous market opportunities for the technology. Moreover, the prominence of Web 3.0 Blockchain applications in several domains, including BFSI, healthcare, and retails, escalates the market’s growth. Also, the lack of integration capacity would hamper market growth, delaying the adoption of blockchain technology.

Nevertheless, advances in analytical capabilities in communications and expansion of existing 3G/4G and 5G technologies would support the market increase throughout the analyzed period. Furthermore, substantial R&D investments by the public and private organizations boost the growth of the market.

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Segmentation:

The report is segmented into blockchain types, applications, verticals, and regions. The blockchain type segment is sub-segmented into public, private, consortium, and hybrid. Similarly, the application segment is sub-segmented into conversational AI, cryptocurrency, data & transaction storage, smart contracts, payments, and others.

The vertical segment is sub-segmented into e-commerce & retail, BFSI, media & entertainment, IT & telecom, healthcare & pharmaceuticals, and others. Further, by region, the market is sub-segmented into the Americas, Asia Pacific, Middle East & Africa (MEA), Europe, and Rest-of-the-World.

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Global Web 3.0 Blockchain Market – Regional Analysis

North America leads the global Web 3.0 Blockchain market. The largest market share attributes to the higher adoption of Web 3.0 and advances in blockchain technologies. Besides, vast R&D investments in advancing web platforms positively impact the regional market’s growth.

The presence of a number of eminent market players and well-established development centers boosts the WEB 3.0 Blockchain market size in the region. The US accounts for the largest share in the regional market as well as in the global market due to the high adoption of digital assets and the penetration of cryptocurrencies.

The Web 3.0 Blockchain market in the Asia Pacific region is emerging as a promising market globally. Factors such as massive investments by industry verticals in digital currency and leading Web 3.0 Blockchain markets such as India, Australia, and China provide immense market opportunities.

China, Japan, and India are anticipated to witness rapid increases throughout the forecast period rapidly. The APAC Web 3.0 Blockchain market is expected to create a substantial revenue pocket over the forecast period.

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TABLE OF CONTENTS

1 EXECUTIVE SUMMARY 14

1.1 MARKET ATTRACTIVENESS ANALYSIS 15

2 MARKET INTRODUCTION 16

2.1 DEFINITION 16

2.2 SCOPE OF THE STUDY 16

2.3 RESEARCH OBJECTIVE 16

2.4 MARKET STRUCTURE 17

3 RESEARCH METHODOLOGY 18

4 MARKET DYNAMICS 25

4.1 INTRODUCTION 25

4.2 DRIVERS 26

4.2.1 DATA OWNERSHIP SHIFTING TOWARDS THE USER 26

4.2.2 INCREASED TRANSPARENCY 26

4.2.3 HIGHLY SECURED DATA SECURITY 26

4.2.4 DRIVER IMPACT ANALYSIS 27

4.3 RESTRAINTS 27

4.3.1 LACK OF AWARENESS 27

4.3.2 RESTRAINT IMPACT ANALYSIS 28

4.4 OPPORTUNITIES 28

4.4.1 RAPID INNOVATION IN TECHNOLOGY 28

Continued...

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