Web 3.0 Blockchain Market Is Expected To Reach at USD 1.36 Billion By 2022, at a CAGR Of 44.9% during Forecast Period 2023 To 2030

According to a market research study published by Contrive Datum Insights, In 2023, nearly 56.2% shares of the market will be in North America.

Farmington, Jan. 28, 2023 (GLOBE NEWSWIRE) — The Global Web 3.0 Blockchain Market Size Was USD 1.36 Billion In 2022 And Is Expected To Expand at a CAGR Of 44.9% From 2022 To 2030. Web 3.0 Web3, or Web 3.0, is a proposed new version of the World Wide Web that uses blockchain technology and includes decentralisation and blockchain economics. Today, Web 3.0 technology can be used in many different ways, such as for documentation, exchanges, digital identities, smart contracts, and more. This market will grow because more and more people want the above. The growing need for data privacy is expected to boost sales in the global web 3.0 blockchain market from 2021 to 2031. Decentralized Web 3.0 identity will help with this.

Request Sample Copy of Report “Web 3.0 Blockchain  Market – Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.

Recent Developments:

  • In December 2021, India’s State Government of Telangana, CoinSwitch Kuber, and Lumos Labs announced the launch of India Blockchain accelerator to help blockchain entrepreneurs. As part of the accelerator, blockchain entrepreneurs who are chosen will be able to get government approval, help getting to market, grants, and mentoring. Selected participants will also have the chance to get pre-seed and seed investments from investment partners Lightspeed and WoodstockFund of USD 700,000 or more..
  • In April 2022, KuCoin, the world’s largest cryptocurrency trading platform, and its venture firm KuCoin Ventures and KuCoin NFT Marketplace-Windvane have announced a USD 100 million “Creators Fund.” This fund will help arts, sports, PFPs, Asian culture, and games that are just starting out and need a place to grow. This fund will also invite the 99 best NFT creators to join the Windvane NFT marketplace, which will speed up the growth of Web 3.0.

Segment Analysis:

Blockchain Type Insights

In 2021, the public segment brought in more than 56.0% of all income. This segment is growing because people from all over the world can join public blockchain networks without any restrictions. In a public blockchain, anyone from anywhere in the world can join the network and read, write, and participate in the blockchain. Also, public blockchain offers high security, an open environment, full transparency, decentralisation, and better distribution.

Application Insights

In 2021, more than 25.0% of all income came from the cryptocurrency market. Rapid changes in technology, such as digitization and automation, have made businesses want more and more high-performance cryptocurrency transaction services. So, to keep up with the need for fast cryptocurrency transactions, many players around the world are using blockchain technology to make their transactions go smoothly. Things like those above are likely to drive growth in the segment.

End-use Insights

With a share of more than 33.0%, the BFSI segment brought in the most money in 2021. The banking and finance industry wants Web 3.0 blockchain more and more because it can be scaled, transactions happen faster, and processing costs go down. Also, transactions made possible by Web 3.0 blockchain technology get rid of the need for third-party payment gateways, which speeds up the way money is moved. Web 3.0 also lets insurance companies store their data in different places, which stops cybercrimes.

Regional Outlook:                                                                                   

In 2023, nearly 56.2% of the market will be in North America. This is because more people are using blockchain technology, trying out new ideas in a decentralised ecosystem, and putting more money into Web 3.0 startups that are on the cutting edge. During the period of the forecast, the region is expected to grow at a strong rate of 41.2% per year. In the 2023 fiscal year, the United States will make up 97.6% of the North American web 3.0 blockchain market. Europe will have the second-largest share of the market in 2023. This is because many industries that use web 3.0 blockchain technology, such as BFSI, media and entertainment, IT and telecom, e-commerce and retail, and others, will need more of it. Asia-Pacific will also be the world’s third largest market. This is because big companies in this area are putting more and more money into using blockchain technology. In the 2023 fiscal year, China will have 57.1% of the Asia-Pacific web 3.0 blockchain market.

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Scope of Report:

Report Attributes Details
Growth Rate CAGR of 44.9% from 2023 to 2030.
Revenue Forecast by 2022 USD 1.36 Billion
By Block chain Type Public, Private, Consortium, Hybrid, Others
By Application Cryptocurrency, Conversational AI, Data & Transaction Storage, Payments, Smart Contracts, Others
By End-use BFSI, Retail & E-commerce, Media & Entertainment, Pharmaceuticals, IT & Telecom, Others
By Companies  Web3 Foundation (Polkadot), Helium Systems Inc., Ocean Protocol Foundation Ltd., Zel Technologies Limited., Kusama, Livepeer, Inc., Filecoin, Kadena LLC, Polygon technology
Regions and Countries Covered
  • North America: (US, Canada, Mexico, Rest of North America)
  • Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
  • Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
  • The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
  • Latin America(Brazil, Argentina, Rest of Latin America)
  • Rest Of the World
Base Year  2022
Historical Year  2017 to 2022
Forecast Year  2023 to 2030

Market Drivers:

The main parts of web 3.0 blockchain technology are artificial intelligence (AI), machine learning (ML), and blockchain technology. The web 3.0 blockchain is focused on keeping personal data safe and private, and it lets users store data in a decentralised way.

Blockchain is a part of web 3.0 that is based on decentralised technology. All transactions are clear and well-written because of this. Blockchain uses techniques for keeping track of information to make sure that users’ data is not changed or messed with. Blockchain technology for Web 3.0 makes the payment system more clear by making every transaction permanent and recordable. This helps users who are being checked out.

Market Opportunities:

In Web 3.0, blockchain is a technology that is quickly improving. IT has a lot of benefits for the end user, such as lower operational costs, faster speeds, less risk of cyberattacks, and more control over personal data. In the past few years, there have been many important technological advances, such as the use of blockchain technology in logistics and operations and the connection of blockchain to the Internet of Things.

Key Segments Covered:

Top Market Players:
Web3 Foundation (Polkadot), Helium Systems Inc., Ocean Protocol Foundation Ltd., Zel Technologies Limited., Kusama, Livepeer, Inc., Filecoin, Kadena LLC, Polygon technology, and others.

By Block chain Type

  • Public
  • Private
  • Consortium
  • Hybrid
  • Other

By Application

  • Cryptocurrency
  • Conversational AI
  • Data & Transaction Storage
  • Payments
  • Smart Contracts
  • Others

By End-use

  • BFSI
  • Retail & E-commerce
  • Media & Entertainment
  • Pharmaceuticals
  • IT & Telecom
  • Others

Regions and Countries Covered

  • North America: (US, Canada, Mexico, Rest of North America)
  • Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
  • Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
  • The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
  • Latin America: (Brazil, Argentina, Rest of Latin America)
  • Rest Of the World

Check out more related studies published by Contrive Datum Insights:

  • Embedded Field Programmable Gate Array (FPGA) Market – The Global Embedded Field Programmable Gate Array (FPGA) Market Was Valued At $73.2 Million In 2022, And Is Projected To Reach $310.3 Million By 2030, Growing At A CAGR Of 15.6% From 2022 To 2030. North America accounted for the largest market shares. 
  • Blockchain In Retail Market – The Global Blockchain In Retail Market Size Was Valued At USD 240.45 Million In 2022 And Is Projected To Reach USD 30,641.76 Million By 2030, Growing At A CAGR Of 91.67% From 2023 To 2030. In 2020, North America had the largest market share.
  • Payment Security Market – The global Payment Security Market size was valued at USD 17.64 billion in 2022 and is expected to reach USD 60.56 billion by 2030, at a CAGR of 13.2% from 2022 to 2030. North America holds the highest position in the global Payment Security market share in 2021.

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About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.

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