Global Non-fungible Token (NFT) Market 2024-2028

Global Non-fungible Token (NFT) Market 2024-2028

The non-fungible token (NFT) market is forecasted to grow by USD 68.16 bn during 2023-2028, accelerating at a CAGR of 30.23% during the forecast period. The report on the non-fungible token (NFT) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for digital art, growing investments in digital assets, and unique authentication of ownership of digital assets.

Technavio's non-fungible token (NFT) market is segmented as below:

By Application

• Collectibles
• Sports
• Arts
• Others

By End-user

• Personal
• Commercial

By Geographical Landscape

• APAC
• North America
• South America
• Europe
• Middle East and Africa

This study identifies the growing interest in NFTs among major brands as one of the prime reasons driving the non-fungible token (NFT) market growth during the next few years. Also, emergence of fractionalized NFTs and growing number of strategic initiatives by NFT vendors will lead to sizable demand in the market.

The report on the non-fungible token (NFT) market covers the following areas:

• Non-fungible token (NFT) market sizing
• Non-fungible token (NFT) market forecast
• Non-fungible token (NFT) market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading non-fungible token (NFT) market vendors that include AirNFTs Platform, Asynchronous Art Inc., Binance Holdings Ltd., Blockchain App Factory, Celer Network, Chaincella, Decentraland Foundation, Enjin Pte. Ltd., Foundation Labs Inc., Funko Inc., Gemini Trust Co. LLC, Mintable.app, Ozone Networks Inc., Out The Mud Ventures Inc., Rarible Inc., Sky Mavis, SuperRare Labs Inc., Tiki Labs Inc., Yellowheart LLC, and Axie Infinity. Also, the non-fungible token (NFT) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.