Dublin, April 22, 2024 (GLOBE NEWSWIRE) -- The "Web 3.0 Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The Web 3 market size has grown exponentially in recent years. It will grow from $3.19 billion in 2023 to $4.43 billion in 2024 at a compound annual growth rate (CAGR) of 38.8%. The Web 3 market size is expected to see exponential growth in the next few years. It will grow to $16.3 billion in 2028 at a compound annual growth rate (CAGR) of 38.5%.
Web 3.0, the forthcoming iteration of the World Wide Web, signifies the evolution of the Internet towards a more intelligent, decentralized, and user-centric experience. This transformation promises a plethora of potential advantages that could revolutionize the digital landscape.
The expansion during the historical period can be credited to concerns regarding data ownership and privacy, interoperability, the implementation of smart contracts, a user-centric approach, the adoption of blockchain and cryptocurrency, as well as the development of the Internet of Things (IoT) and smart devices. 
The increase anticipated during the forecast period stems from widespread adoption, scalability solutions, integration with conventional systems, the evolution of token economies, regulatory dynamics, and the escalating demand for decentralized technologies and applications. Key trends expected in this period comprise technological advancements, developer creativity, cross-chain partnerships, edge computing enhancements, accelerated transaction speeds, tokenization, and developments in crypto economics.
The advancement of the Internet of Things (IoT) and smart devices is anticipated to drive the expansion of the Web 3 market in the future. IoT denotes a network of interconnected physical devices, while smart devices are individual objects or systems augmented with computing and communication capabilities. The fusion of IoT and smart devices through Web 3 amplifies connectivity, data utilization, automation, and user experiences, fostering a more intelligent, decentralized, and responsive web ecosystem.
Prominent players in the Web 3 market are concentrating on pioneering advancements, exemplified by Shardeum, a novel Web 3 platform, driven by the remarkable growth and potential within this domain. Web 3 represents the third iteration of the World Wide Web, characterized by decentralization, openness, and immersion, underpinned by blockchain technologies and advancements in the semantic web.
North America was the largest region in the web 3 market in 2023. The regions covered in the web 3 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the web 3 market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $4.43 Billion |
| Forecasted Market Value (USD) by 2028 | $16.3 Billion |
| Compound Annual Growth Rate | 38.5% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Web 3.0 Market Characteristics
3. Web 3.0 Market Trends And Strategies
4. Web 3.0 Market - Macro Economic Scenario
4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market
5. Global Web 3.0 Market Size and Growth
5.1. Global Web 3.0 Market Drivers and Restraints
5.1.1. Drivers Of The Market
5.1.2. Restraints Of The Market
5.2. Global Web 3.0 Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Web 3.0 Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Web 3.0 Market Segmentation
6.1. Global Web 3.0 Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Public
- Consortium
- Private
- Hybrid
6.2. Global Web 3.0 Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Cryptocurrency
- Smart Contracts
- Conversational AI
- Payments
- Data And Transaction Storage
- Other Applications
6.3. Global Web 3.0 Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Banking Financial Services And Insurance
- IT And Telecom
- Retail And E-commerce
- Pharmaceuticals
- Media And Entertainment
- Other End User
7. Web 3.0 Market Regional And Country Analysis
7.1. Global Web 3.0 Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Web 3.0 Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
A selection of companies mentioned in this report includes
- Huawei Services Co. Limited
- Amazon Web Services
- International Business Machines
- NTT Docomo Inc.
- Oracle Corp.
- Fijitsu Ltd.
- Binance Holdings Ltd.
- Coinbase Global Inc.
- Ripple Labs Inc.
- Consensys Inc.
- Polygon Labs
- Alchemy Insights Inc.
- Sygnum Bank AG
- Terra Networks SA
- Zel Technologies Limited
- Decentraland
- Okcoin USA Inc.
- ChainAnalysis Inc.
- Ava Labs Inc.
- Protocol Labs Inc.
- Ocean Protocol Foundation Ltd.
- Helium Systems Inc.
- Yayoi Kusama
- Kadena LLC
- Crypto.Com
For more information about this report visit https://www.researchandmarkets.com/r/1ehp1b
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