Dublin, Dec. 21, 2022 (GLOBE NEWSWIRE) -- The "LAMEA Web 3.0 Blockchain Market Size, Share & Industry Trends Analysis Report by Application, Blockchain Type, End-use (BFSI, IT & Telecom, Media & Entertainment, Retail & E-commerce, Pharmaceuticals), Country and Growth Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Latin America, Middle East and Africa Web 3.0 Blockchain Market should witness market growth of 42.1% CAGR during the forecast period (2022-2028).
The fundamental goal of Web 3.0 is to transform the internet into a more intelligent place. This next era of the web would make the internet more reactive, adaptive, and capable of providing the user with a more gratifying and individualized experience. It will completely revolutionize how user now knows and utilize the Internet. To comprehend the potential changes that Web 3.0 may bring, one must be familiar with Web 3.0's four primary pillars/features:
One of the most prominent characteristics of Web 3.0 will be its capacity to interpret human emotions and ideas. AI will be extensively utilized to filter information, and content and customize search results to the user's preferences. The simulation of processes of human intelligence by machines, primarily computer systems, is known as artificial intelligence. Specific AI applications include intelligent machines, natural language processing voice recognition, and machine vision.
As the AI craze grew, businesses scrambled to demonstrate how their products and services include AI. Typically, what is referred to as artificial intelligence is a subset of Artificial intelligence, such as machine learning. AI demands a foundation of specialized hardware and software to develop and train machine learning algorithms.
The presence of growing nations and businesses in the region is driving demand for the WEB 3.0 blockchain market. In addition, medium- and large-sized businesses are increasingly using distributed ledgers to improve their income opportunities. In addition, growing awareness of blockchain technology across multiple industries boosts growth.
Advantages such as a reduced risk of data fraud and enhanced efficiency make blockchain technology popular and essential. Moreover, the incorporation of the Internet of Things (IoT) with blockchain technology is projected to accelerate the regional BaaS market's expansion.
The Brazil market dominated the LAMEA Web 3.0 Blockchain Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $206.3 million by 2028. The Argentina market is showcasing a CAGR of 42.9% during (2022-2028). Additionally, The UAE market would register a CAGR of 41.7% during (2022-2028).
Based on Application, the market is segmented into Cryptocurrency, Smart Contracts, Payments, Data & Transaction Storage, Conversational AI, and Others. Based on Blockchain Type, the market is segmented into Public, Private, Consortium, and Hybrid. Based on End-use, the market is segmented into BFSI, IT & Telecom, Media & Entertainment, Retail & E-commerce, Pharmaceuticals, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Web3 Foundation (Polkadot), Polygon technology, Protocol Labs (Filecoin), Alchemy Insights, Inc., Helium, Inc., Ocean Protocol Foundation Ltd., Kusama Network, Kadena LLC, and Terraform Labs Pte. Ltd.
Scope of the Study
By Application
- Cryptocurrency
- Smart Contracts
- Payments
- Data & Transaction Storage
- Conversational AI
- Others
By Blockchain Type
- Public
- Private
- Consortium
- Hybrid
By End-use
- BFSI
- IT & Telecom
- Media & Entertainment
- Retail & E-commerce
- Pharmaceuticals
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Web3 Foundation (Polkadot)
- Polygon Technology
- Protocol Labs (Filecoin)
- Alchemy Insights, Inc.
- Helium, Inc.
- Ocean Protocol Foundation Ltd.
- Kusama Network
- Kadena LLC
- Terraform Labs Pte. Ltd.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Strategies Deployed in Web 3.0 Blockchain Market
Chapter 4. LAMEA Web 3.0 Blockchain Market by Application
Chapter 5. LAMEA Web 3.0 Blockchain Market by Blockchain Type
Chapter 6. LAMEA Web 3.0 Blockchain Market by End-use
Chapter 7. LAMEA Web 3.0 Blockchain Market by Country
Chapter 8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/4c9s10
