Web 3.0 Blockchain Market is expected to expand at a CAGR of nearly 46% to 2030 | MDC Research Study
Pune, May 06, 2022 (GLOBE NEWSWIRE) -- Market Data Centre has published a new report titled “Global Web 3.0 Blockchain Market, 2022-2030”. The global web 3.0 blockchain market is set to expand at a CAGR of nearly 46% in terms of revenue owing to its large-scale adoption in information technology, BFSI, Media & Entertainment, and Ecommerce industries.
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Web 3.0 is a catchphrase for entrepreneurs that assist them in solving data theft issues and problems concerning data privacy of end-users. Furthermore, web 3.0 features internet on blockchain technology and facilitates storing of customer data on blockchain. This helps in decentralization of data along with making data usage transparent for firms, thereby safeguarding it from data breach. Web 3.0 blockchain technology eases login experience for visitors of web portal. For instance, blockchain technology makes utilization of Facebook concept of allowing end-users to sign on its website with a facebook profile. However, key difference between the two is that while Facebook owns end-user information, blockchain does not. Furthermore, web 3.0 blockchain technology helps in preventing hacking as latter is known for its high-security standards owing to end-to-end data encryption feature of blockchain. Tech giants such as Google, Apple, and Facebook are making use of blockchain for security purposes.
Moreover, web3.0 blockchain ensures data privacy of customers and helps in securing more consumer engagement. This has soared web 3.0 blockchain industry growth. Additionally, ability of web3.0 blockchain to provide improved browsing experience to end-users will spearhead expansion of web 3.0 blockchain market. Massive use of bitcoin as cryptocurrency will augment progression of web 3.0 blockchain market. Additionally, web 3.0 blockchain technology has set a strong growth platform for industry 4.0 business along with helping latter enter new era of development.
Key-Findings from the Study
- Public Blockchain To Dominate Blockchain Chain Structure Type Landscape Over Forecast Timeline (2022-2030)
- Large Enterprises as a sub-segment of Organization Size segment in Web 3.0 Blockchain market are set to capture highest market share by 2030
- North America To Lead Global Web 3.0 blockchain market by end of forecast timeline.
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Web 3.0 Blockchain Market: Competitive Insights
The market for web 3.0 blockchain is highly competitive and each firm is trying to enter the business. With large number of IT firms trying to enter new technology line and garner massive profits, the market for web 3.0 blockchain is set to expand leaps & bounds over upcoming years. Need for catering to demand for bitcoin as cryptocurrency in various countries has forced government to approve use of blockchain technology in cryptocurrency transactions. This has encouraged public & private firms to expand itself into this new business vertical. All these aforementioned factors will lay a strong growth foundation for web 3.0 blockchain market.
Some of the major players in web 3.0 blockchain market include Polkadot (Web3 Foundation), Helium Systems Inc., Filecoin, Ocean Protocol Foundation Ltd., Livepeer, Inc., Decentraland, Zel Technologies GmbH (Flux), ZCash, and Kadena LLC.
These key industry participants have implemented new business strategies, thereby aiding web 3.0 blockchain market enter a new phase of growth.
Few of giant players have made important strategic moves and taken new initiatives that are likely to have a favorable impact on growth of web 3.0 blockchain industry. Let us overview them
- In April 2022, Amsten Capital – a Web3 & crypto focused early stage investor-has garnered nearly USD 9 million from corporate families in Europe and Middle East countries
- In first quarter of 2022, Coinbase Global, Inc., a largest U.S.-based firm operating Cryptocurrency exchange tool, introduced web 3.0 social marketplace for non-fungible tokens in beta on its twitter account. Reportedly, in web 3.0 marketspace, the exchange will facilitate beta testers in generating Coinbase NFT profile that will help firm purchase & sell NFTs through use of coinbase wallet or any other wallet
Vendor assessment includes a deep analysis of how vendors are addressing the demand in the Web 3 0 Blockchain Market. The MDC Competetive Scape model was used to assess qualitative and quantitative insights in this assessment. MDC's Competitive Scape is a structured method for identifying key players and outlining their strengths, relevant characteristics, and outreach strategy. MDC's Competitive Scape allows organizations to analyze the environmental factors that influence their business, set goals, and identify new marketing strategies. MDC Research analysts conduct a thorough investigation of vendors' solutions, services, programs, marketing, organization size, geographic focus, type of organization and strategies.
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Technology dramatically impacts business productivity, growth and efficiency. Technologies can help companies develop competitive advantages, but choosing them can be one of the most demanding decisions for businesses. Technology assessment helps organizations to understand their current situation with respect to technology and offer a roadmap where they might want to go and scale their business. A well-defined process to assess and select technology solutions can help organizations reduce risk, achieve objectives, identify the problem, and solve it in the right way. Technology assessment can help businesses identify which technologies to invest in, meet industry standards, compete against competitors.
Business Ecosystem Analysis
Advancements in technology and digitalization have changed the way companies do business; the concept of a business ecosystem helps businesses understand how to thrive in this changing environment. Business ecosystems provide organizations with opportunities to integrate technology in their daily business operations and improve research and business competency. The business ecosystem includes a network of interlinked companies that compete and cooperate to increase sales, improve profitability, and succeed in their markets. An ecosystem analysis is a business network analysis that includes the relationships amongst suppliers, distributors, and end-users in delivering a product or service.
Regions and Countries Covered
North America (US, Canada), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, Rest of Asia-Pacific), and Rest of the World (RoW)
Web 3 0 Blockchain Market Dynamics, Covid-19 Impact on the Web 3 0 Blockchain Market, Vendor Profiles, Vendor Assessment, Strategies, Technology Assessment, Product Mapping, Industry Outlook, Economic Analysis, Segmental Analysis, Web 3 0 Blockchain Market Sizing, Analysis Tables
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Vendor Profiles Covered
All Major Tier-1, Tier-2, and Tier-3 companies are covered in this Web 3 0 Blockchain Market report (25 Vendor Profiles)
Key Questions Answered in This Report:
- What is the potential of the Web 3 0 Blockchain Market?
- What is the impact of COVID-19 on the global Web 3 0 Blockchain Market?
- What are the top strategies that companies adopting in Web 3 0 Blockchain Market?
- What are the challenges faced by SME’s and prominent vendors in Web 3 0 Blockchain Market?
- Which region has the highest investments in Web 3 0 Blockchain Market?
- What are the latest research and activities in Web 3 0 Blockchain Market?
- Who are the prominent players in Web 3 0 Blockchain Market?
- What is the potential of the Web 3 0 Blockchain Market?
Additional vendors profiles can be added based on client business requirements
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