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Global Web 3.0 Blockchain Market to reach USD 26.43 billion by the end of 2029

Global Web 3.0 Blockchain Market Size study & Forecast, by Blockchain Type (Public, Private, Consortium, Hybrid), 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) and Regional Analysis, 2022-2029

Product Code: ICTNGT-65238582
Publish Date: 29-01-2023
Page: 200

Global Web 3.0 Blockchain Market is valued at approximately USD 1.36 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 44.90% over the forecast period 2022-2029. Web 3.0 Blockchain or World Wide Web 3.0 refers to the impending third generation of the internet, in which websites and apps would be capable of processing information in a human-like manner with help of machine learning (ML), Big Data, and blockchain based technology such as decentralized ledger technology (DLT) among others. In case of Web 3.0 blockchain, instead of a centralized database, applications and services use a decentralized blockchain. Moreover, Web 3.0 enables a growing number of different types of new applications and services such as Nonfungible tokens (NFTs), Decentralized applications, cryptocurrencies, and decentralized apps among others. In addition, Web 3.0 allows users to store data and information on decentralized public ledgers thus safeguarding the privacy of the user. The increasing penetration of digital assets and growing usage of connected devices as well as strategic initiatives from leading market players are key factors accelerating the market growth.

The increasing popularity of digital assets such as cryptocurrencies, non-fungible tokens (NFTs), and virtual real estate in the metaverse among others is contributing to the growth of the Global Web 3.0 Blockchain Market. For instance, according to Statista – as of 2022, the revenue in the digital assets segment is estimated at USD 37,240 million, and the revenue is projected to show an annual growth rate of 17.30% in 2022 and 2027 period to reach a market volume of USD 82,710 million by 2027. Moreover, as per Statista – as of 2022, the revenue in the global NFT segment is estimated at USD 2,520 million, and the revenue is expected to show an annual growth rate of 27.26% between 2022 & 2027 to reach to projected volume of USD 8,412 million by 2027. Also, growing usage of Web 3.0 technology across the business applications such as digital identity documents, and smart contracts and the rising expansion of AI and Machine learning technologies would create a lucrative growth prospectus for the market over the forecast period. However, the high deployment cost associated with Web 3.0 Blockchain and lack of penetration in developing regions stifle the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Web 3.0 Blockchain Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading blockchain solution providers, and increasing acceptance of Web 3.0 coupled with availability of required technological infrastructure in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing number of favorable initiatives from government authorities to promote blockchain-based digital assets, and increasing use of web 3.0 from banking and financial services institutions in the region.

Major market players included in this report are:
Web3 Foundation (Polka dot.)
Helium Systems Inc.
Ocean Protocol Foundation Ltd.
Zel Technologies Limited.
Livepeer, Inc.
Kadena LLC
Polygon technology

Recent Developments in the Market:
 In January 2022, India based Mphasis announced its partnership with USA based crypto exchange CrossTower, to build a Center of Excellence (CoE) focused on Web 3.0 and a series of blockchain-based products that would be launched and traded on the CrossTower platform.

 In September 2022, Binance’s smart contract blockchain platform BNB Chain entered into a partnership with Google Cloud to strengthen Web3 and blockchain startups. Through this partnership, startups that are currently building products and services on the BNB Chain blockchain would get access to Google Cloud’s scalable, secure, and open-source infrastructure.

Global Web 3.0 Blockchain Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Blockchain Type, Application, End Use, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Blockchain Type

By Application
Conversational AI
Data & Transaction Storage
Smart Contracts

By End-use
Retail & E-commerce
Media & Entertainment
IT & Telecom

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Web 3.0 Blockchain Market, by Region, 2019-2029 (USD Billion)
1.2.2. Web 3.0 Blockchain Market, by Blockchain Type, 2019-2029 (USD Billion)
1.2.3. Web 3.0 Blockchain Market, by Application, 2019-2029 (USD Billion)
1.2.4. Web 3.0 Blockchain Market, by End-use, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Web 3.0 Blockchain Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Web 3.0 Blockchain Market Dynamics
3.1. Web 3.0 Blockchain Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing penetration of digital assets Growing usage of connected devices Strategic initiatives from leading market players
3.1.2. Market Challenges High deployment cost associated with Web 3.0 Blockchain Lack of penetration in developing regions
3.1.3. Market Opportunities Growing usage of Web 3.0 technology across the businesses Rising expansion of AI and Machine learning technologies
Chapter 4. Global Web 3.0 Blockchain Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Web 3.0 Blockchain Market, by Blockchain Type
6.1. Market Snapshot
6.2. Global Web 3.0 Blockchain Market by Blockchain Type, Performance – Potential Analysis
6.3. Global Web 3.0 Blockchain Market Estimates & Forecasts by Blockchain Type 2019-2029 (USD Billion)
6.4. Web 3.0 Blockchain Market, Sub Segment Analysis
6.4.1. Public
6.4.2. Private
6.4.3. Consortium
6.4.4. Hybrid
Chapter 7. Global Web 3.0 Blockchain Market, by Application
7.1. Market Snapshot
7.2. Global Web 3.0 Blockchain Market by Application, Performance – Potential Analysis
7.3. Global Web 3.0 Blockchain Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
7.4. Web 3.0 Blockchain Market, Sub Segment Analysis
7.4.1. Cryptocurrency
7.4.2. Conversational AI
7.4.3. Data & Transaction Storage
7.4.4. Payments
7.4.5. Smart Contracts
7.4.6. Others
Chapter 8. Global Web 3.0 Blockchain Market, by End-use
8.1. Market Snapshot
8.2. Global Web 3.0 Blockchain Market by End-use, Performance – Potential Analysis
8.3. Global Web 3.0 Blockchain Market Estimates & Forecasts by End-use 2019-2029 (USD Billion)
8.4. Web 3.0 Blockchain Market, Sub Segment Analysis
8.4.1. BFSI
8.4.2. Retail & E-commerce
8.4.3. Media & Entertainment
8.4.4. Pharmaceuticals
8.4.5. IT & Telecom
8.4.6. Others
Chapter 9. Global Web 3.0 Blockchain Market, Regional Analysis
9.1. Web 3.0 Blockchain Market, Regional Market Snapshot
9.2. North America Web 3.0 Blockchain Market
9.2.1. U.S. Web 3.0 Blockchain Market Blockchain Type breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029 End-use breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Web 3.0 Blockchain Market
9.3. Europe Web 3.0 Blockchain Market Snapshot
9.3.1. U.K. Web 3.0 Blockchain Market
9.3.2. Germany Web 3.0 Blockchain Market
9.3.3. France Web 3.0 Blockchain Market
9.3.4. Spain Web 3.0 Blockchain Market
9.3.5. Italy Web 3.0 Blockchain Market
9.3.6. Rest of Europe Web 3.0 Blockchain Market
9.4. Asia-Pacific Web 3.0 Blockchain Market Snapshot
9.4.1. China Web 3.0 Blockchain Market
9.4.2. India Web 3.0 Blockchain Market
9.4.3. Japan Web 3.0 Blockchain Market
9.4.4. Australia Web 3.0 Blockchain Market
9.4.5. South Korea Web 3.0 Blockchain Market
9.4.6. Rest of Asia Pacific Web 3.0 Blockchain Market
9.5. Latin America Web 3.0 Blockchain Market Snapshot
9.5.1. Brazil Web 3.0 Blockchain Market
9.5.2. Mexico Web 3.0 Blockchain Market
9.5.3. Rest of Latin America Web 3.0 Blockchain Market
9.6. Rest of The World Web 3.0 Blockchain Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Web3 Foundation (Polka Dot) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Helium Systems Inc.
10.2.3. Ocean Protocol Foundation Ltd.
10.2.4. Zel Technologies Limited.
10.2.5. Kusama
10.2.6. Livepeer, Inc.
10.2.7. Filecoin
10.2.8. Kadena LLC
10.2.9. Polygon technology
10.2.10. Terra
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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