Web 3.0 Blockchain Market Research Report- Forecast till 2030 —
Some of the factors that are expected to drive the Web 3.0 blockchain market comprise of data ownership shifting towards the users, increased transparency, and highly secured data security. Whereas lack of awareness regarding the technology are hampering this growth trend in market. However, the market is opportune by rapid innovations and investments taking place in the technology. On the other hand, the market is expected to face several challenges such as dependency over Web 2.0, decentralized operations owing to the need for authentication, scalability, and unstructured operations may result in network congestion.
Web 3.0 is considered the third generation of internet services, and blockchain technology acts as the base for Web 3.0 that offers various advantages like enhanced data security and privacy, setting new growth opportunities for the developers of Web 3.0 to grab the attention of the internet users. This technology has lowered the risk of cyber hacks and threats. The technology has reduced the risk and damage of websites and applications. Therefore, this is acting as the factor that is accelerating the growth of the Web 3.0 Blockchain Market. Further, it makes Web 3.0 blockchain technology suitable for cryptocurrency trading and mining.
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The Web 3.0 Blockchain Market is segmented on blockchain type, application, vertical, and region. These segments are the main type of segments which are further segmented into different types.
In the blockchain segment type, the market is sub-segmented into public, private, consortium, and hybrid. The Web 3.0 Blockchain Market is categorized into cryptocurrency, conversational AI, data & transaction storage, payments, smart contracts, and others based on the application segment.
The vertical segment of the market is classified into BFSI, e-commerce & retail, media & entertainment, healthcare & pharmaceuticals, IT & telecom, and others. The market plays a major role in these segments due to its widespread application in these sectors.
The regional segmentation shows the major regions covered by the market, such as North America, Europe, Asia-Pacific, the Middle East & Africa, and the South American region.
By region, the global Web 3.0 blockchain market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America is expected to register a largest market share owing to the higher adoption rate of innovative technologies such as Web 3.0 blockchain in the region. The US is expected to lead the country-level market in North America region owing to the benefits offered by Web 3.0 blockchain in especially cryptocurrency industry. Adding more, investors are heavily investing into the research & development of innovative technology solutions.
The key players in the global Web 3.0 blockchain market are Polkadot (Web3 Foundation), Helium Systems Inc., Ocean Protocol Foundation Ltd., Decentraland, among others.
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Web 3.0 Blockchain Market Research Report: By Blockchain Type (Public, Private, Consortium, and Hybrid), By Application (Cryptocurrency, Conversational AI, Data & Transaction Storage, Payments, Smart Contract, and Others), By Vertical (BFSI, E-commerce & Retail, Media & Entertainment, Healthcare & Pharmaceuticals, IT & Telecom, and Others), By Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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