Web 3.0 Market by Technology Layer (Artificial learning & Machine learning, Blockchain, Decentralized Data Network/ Decentralized Storage), Type (Consortium, Hybrid, Private), Offering, Web 3.0 Stack, Application, End-user - Global Forecast 2024-2030

Web 3.0 Market by Technology Layer (Artificial learning & Machine learning, Blockchain, Decentralized Data Network/ Decentralized Storage), Type (Consortium, Hybrid, Private), Offering, Web 3.0 Stack, Application, End-user - Global Forecast 2024-2030

The Web 3.0 Market size was estimated at USD 1.34 billion in 2023 and expected to reach USD 1.74 billion in 2024, at a CAGR 32.22% to reach USD 9.53 billion by 2030.

Web 3.0, or Web 3, is the concept of the next generation of the web, in which users are connected via a decentralized network and have access to their data. Web 3.0 offers users more control over online content and makes data analysis more coherent. The growing initiatives from government agencies to introduce digitization projects based on Web 3.0 blockchains, rising data security concerns, and growing applications of Web 3.0 in payment systems are propelling the growth of the Web 3.0 market. Blockchain technology enables human-like intelligence to systems and improves data communication; as a result, companies are embracing Web 3.0 blockchain to improve data privacy and security, which is further driving the growth of the Web 3.0 market. The high cost of development and implementation of Web 3.0 solutions hinders the market prospects. However, the increasing popularity of cryptocurrencies in digitizing and gaming & non-fungible tokens (NFTs) spaces is raising the potential scope for Web 3.0. Additionally, the emerging number of startups and investments in blockchain-based systems is expected to boost the Web 3.0 market growth in the coming future.

Regional Insights

In the Americas, well-established technology hubs and the increasing use of cryptocurrency raised the utilization of Web 3.0 technology. Major tech companies are investing heavily in Web 3.0 solutions across the United States and Canada to provide scalable decentralized platforms for end-users, including the government, fostering the scope of America's Web 3.0 market. The regional governments supporting responsible digitalization of financial institutes and the defense sector to expand access to safe data communication have created a strong landscape for the global Web 3.0 in the Americas. In Asia-Pacific, rapidly rising digital transactions, government initiatives and investment in blockchain technology, and advancement in FinTech blockchain technology significantly increased the utilization of Web 3.0 technology. Countries, including India, Singapore, and Hong Kong, have established several partnerships with market players to leverage Web 3.0 in asset tracking and data management. Adopting Web 3.0 technology in the EMEA region has increased, owing to the increasing regulatory support, collaboration between end-users and market startups, and rising demand for enhanced data management solutions. The emergence of several startups across the region has spurred the growth of the Web 3.0 market in EMEA.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Web 3.0 Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Growing concerns associated with data privacy and ownership
• Rapid expansion of the decentralized platforms (DeFi)
• Rising number of cross-border payment transactions

Market Restraints

• High cost of implementation of Web 3.0

Market Opportunities

• Continuous innovations in the development of Web 3.0
• Increasing integration of blockchain and DApps in the gaming industry

Market Challenges

• Scalability and interoperability concerns associated with Web 3.0

Market Segmentation Analysis

• Technology Layer: Growing significance of scalable blockchain to provide secure and transparent systems
• Type: Growing deployment of more secure, scalable, and efficient consortium blockchain network
• Offering: Potential adoption of decentralized messaging & communication services provides businesses with innovative solutions
• Web 3.0 Stack: Layer 0 Infrastructure provides the concrete resources to support the network.
• Application: Emerging applications of smart contracts to organize governance among a large user base without engaging an external entity
• End-user: Growing adoption of Web 3.0 in the BFSI sector for secure and efficient financial services

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Web 3.0 Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Web 3.0 Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Web 3.0 Company Treehouse Acquires Origins, Targets Its NFT-Related Tools

Treehouse acquired Origins, an analytics platform specializing in non-fungible tokens (NFTs), which involves the seamless integration of Origins' state-of-the-art technology into its existing product portfolio. As a result, clients of Treehouse gain access to popular Origins tools such as AlphaStream and NFT Analytics Bots.

Consensys Acquires SMG to Deliver State-of-the-Art Mechanism Design for Web3

ConsenSys acquired Special Mechanisms Group (SMG) to strengthen its capabilities in delivering cutting-edge solutions. ConsenSys has access to the industry's most advanced engineering and mechanisms design. This strategic move enhances ConsenSys' position in the field.

KryptoGO Introduces AI-Powered One-Stop Web3 Cloud Solution

KryptoGO has launched KG Studio, an all-in-one cloud solution powered by AI for Web 3.0 enterprise scenarios. KG Studio offers a range of features, including multi-chain wallets, compliance technology, encrypted financial management, innovative NFT marketing tools, user management, and analytics. KryptoGO has identified three key challenges that have hindered Web2 businesses from entering the Web3 domain. These challenges are identity and data interoperability, high technical barriers, and a better user experience in Web3 compared to Web2.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Web 3.0 Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Web 3.0 Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Alchemy Insights, Inc., Amazon Web Services, Inc., Ava Labs, Inc., Biconomy, Binance, Brave Software, Inc., Chainlink Foundation, Cloudflare, Inc., Coinbase Global, Inc., Consensys Software Inc., Covalent Research and Development, Crypto.com, Cultos by Authenticiti, Inc., Filecoin, Fujitsu Limited, Google LLC by Alphabet Inc., HCL Technologies Limited, Huawei Cloud Computing Technologies Co., Ltd., InfStones Limited, International Business Machines Corporation, Kadena LLC, KryptoGO, Inc., Microsoft Corporation, NTT Docomo Inc., Ocean Protocol Foundation Ltd., Oracle Corporation, Parfin by Parity Financial Ltd., Pinata Technologies, Inc., Polygon Labs UI (Cayman) Ltd., Ripple Labs Inc., Salesforce, Inc., SAP SE, Stiftung Ethereum, Terraform Labs Pte. Ltd., Tezos Foundation, The Algorand Foundation Ltd., Web3 Foundation, and web3.storage.

Market Segmentation & Coverage

This research report categorizes the Web 3.0 Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Technology Layer
• Artificial learning & Machine learning
• Blockchain
• Decentralized Data Network/ Decentralized Storage
• Edge Computing
• Type
• Consortium
• Hybrid
• Private
• Public
• Offering
• Decentralized Messaging & Communication Services
• Distributed Edge Cloud Services
• Identity & Access Management Services
• Non-Fungible Tokens
• Web 3.0 Browsers & Wallets
• Web 3.0 Stack
• Layer 0 – Infrastructure
• Layer 1 – Protocol
• Layer 2 – Utility
• Layer 3 – Service
• Layer 4 - Application
• Application
• Conversational AI
• Cryptocurrency
• Data & Transaction Storage
• Payments
• Smart Contract
• End-user
• BFSI
• E-Commerce & Retail
• Energy & Utility
• Healthcare & Pharmaceuticals
• IT & Telecom
• Media & Entertainment
• Region
• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year