Rapid advancements in blockchain technologies and shift in data ownership towards users are some key key factors expected to drive market revenue growth
— Emergen Research
VANCOUVER, BC, CANADA, June 2, 2022 /EINPresswire.com/ — 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.
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The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the Web 3.0 market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Web 3.0 market . It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities.
key findings from the report suggest
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 mainly 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.
The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.
The report covers the following companies-
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)
Artificial Intelligence (AI)
Blockchain Type Outlook (Revenue, USD Billion; 2019–2030)
Organization Size (Revenue, USD Billion; 2019–2030)
Small and Medium-Sized Enterprises
Application Outlook (Revenue, USD Billion; 2019–2030)
Data and Transaction Storage
The study segments the Web 3.0 industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2022– 2030 incorporates projections pertaining to the investment feasibility, gross margin, profits , consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.
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Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
Regional Outlook of Web 3.0 Market:
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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The global Web 3.0 market size reached USD 3.2 Billion in 2021