Web 3.0 Market Overview, Merger and Acquisitions , Drivers, Restraints and Industry Forecast By 2030
According to Emergen Research, the global Web 3.0 market is expected to reach USD 3.2 billion in 2021, with a revenue CAGR of 43.7% during the forecast period. The emergence of 5G and 6G networks, as well as blockchain technologies and the launch of new Web 3.0 dApps and Web3 wallets, is expected to be a major factor driving market revenue growth between 2021 and 2030. Machine Learning (ML) and Artificial Intelligence (AI) power Web 3.0, allowing computers to analyse large amounts of data and aid in the distribution of content based on a user’s specific needs.
The decentralised web, also known as Web 3.0, is the internet’s third generation, which employs decentralised ledger technology (DLT), machine learning (ML), and Big Data. The Web 3.0 Blockchain Market offers users a more enjoyable browsing experience as well as more efficient data analysis. Web 3.0 is more dynamic and user-friendly than previous versions. Leading government agencies are launching digitalization initiatives in order to create a regulatory environment conducive to the growth of the Web 3.0 Blockchain Market. Rising data security concerns, as well as increased firm investments to expand Web 3.0 Blockchain Market applications, are expected to propel the market forward. Because of rapid urbanisation, globalisation, and digitalization, consumers can use new technologies and live a more fulfilling life.
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Some Key Highlights from the Report
During the forecast period, revenue from the Artificial Intelligence segment is expected to grow at a rapid pace. Web 3.0 machines are capable of reading and deciphering data, and the development of intelligent machines will undoubtedly provide numerous benefits and advantages in the future. Web 2.0 has similar capabilities, but it is primarily human-based, allowing for corrupt behaviours like rigged ratings, biassed reviews, and others. Furthermore, Al distinguishes between genuine and fake, which is a significant advantage for a variety of reasons.
The blockchain in web 3.0 is decentralised. As a result, all transactions are recorded and highly transparent. Blockchain employs the technique of information traceability to ensure that data is not tampered with or altered. Web 3.0 blockchain technology increases payment system transparency, and every transaction is recorded and irreversible, which benefits users during inspection.
During the forecast period, the cryptocurrency segment is expected to have the fastest revenue growth rate. Web 3.0 is the most recent version of public blockchains, which serve as a database for cryptocurrency transactions. Cryptocurrencies are heavily used in Web 3.0 protocols. Users can also receive monetary incentives, rewards, and points for assisting in the creation, governance, contribution, or improvement of any projects.
Web3 Foundation, Helium, Ocean Protocol Foundation Ltd., Decentraland, Binance, Alchemy Insights, Inc., Crypto.com, Coinbase, Ripple, and Highstreet are some of the major companies mentioned in the global market report.
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)
- Semantic Web
- Artificial Intelligence (AI)
- 3D Graphics
Blockchain Type Outlook (Revenue, USD Billion; 2019–2030)
Organization Size (Revenue, USD Billion; 2019–2030)
- Small and Medium-Sized Enterprises
- Large Enterprises
Application Outlook (Revenue, USD Billion; 2019–2030)
- Conversational Al
- Data and Transaction Storage
- Smart Contract
Vertical Outlook (Revenue, USD Billion; 2019–2030)
- E-commerce & Retail
- Media & Entertainment
- Healthcare & Pharmaceuticals
- IT & Telecom
Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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