North America Web 3.0 Blockchain Market Size, Share & Industry Trends Analysis Report By Application, By Blockchain Type, End Use (BFSI, IT & Telecom, Media & Entertainment, Retail & E-commerce, Pharmaceuticals), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Web 3.0 Blockchain Market would witness market growth of 37.3% CAGR during the forecast period (2022-2028).
With the emergence of Web 2.0, user-generated content emerged. It began with social media antecedents like GeoCities before Myspace, Facebook, Twitter, and Instagram took hold. Web 2.0 enabled substantially greater user input and involvement through blogs, tweets, and social media networks. The definition of Web 3.0 is gradually becoming clear. Web 3.0 intends to be completely decentralized, placing content creation in the hands of creators rather than platform owners. This is, in many ways, what Tim Berners-Lee envisioned when he built the web.
The semantic web employs AI to comprehend what a user or client may mean or intend, hence boosting and improving the experience's precision. It aims to enhance web technologies to develop, exchange, and connect material through a more precise comprehension of queries based on the meaning of words, as opposed to keywords or numbers. Since the 1990s, there have been attempts to create a 3D depiction of the web and websites.
As a result of increasing investments in blockchain technology. A great number of blockchain development projects have been undertaken in the United States during the past few years, contributing to the expansion of the sector. Furthermore, a large number of small, medium and technology-based businesses operate in this region, resulting in extensive creation and deployment of BaaS solutions throughout the region. In addition, the integration of BaaS solutions with public critical services is growing at a rapid rate; this is expected to unlock development opportunities for the regional BaaS market in the future years. BaaS is a cloud-based infrastructure that enables businesses in this region to create and run their blockchain applications.
The US market dominated the North America 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 $3,244 million by 2028. The Canada market is experiencing a CAGR of 40.4% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 39.2% 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 U.S., Mexico, Canada, and Rest of North America.
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
Market Segments Covered in the Report:
- Smart Contracts
- Data & Transaction Storage
- Conversational AI
By Blockchain Type
By End Use
- IT & Telecom
- Media & Entertainment
- Retail & E-commerce
- Rest of North America
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.
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