Published Date: 31-Oct-2022
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According to a new report, published by KBV research, The Global Web 3.0 Blockchain Market size is expected to reach $12.5 billion by 2028, rising at a market growth of 38.2% CAGR during the forecast period.
The Smart Contracts market is showcasing a CAGR of 41.1% during (2022 - 2028). Using Web 3.0 blockchain technology to generate immutable, verifiable, and secure smart contracts create a more collaborative and open work environment. As a result of these intrinsic characteristics, smart contracts are more likely to gain traction, and more organizations would be able to save expenses and facilitate more secure transactions. These elements propels the growth of the smart contracts.
The Public market acquired the high revenue share in the Global Web 3.0 Blockchain Market by Blockchain Type in 2021, thereby, achieving a market value of $4.8 billion by 2028. The capacity of public blockchain platforms to enable unlimited involvement by users located all over the world is a primary aspect that is contributing to the growth of the market sector.
The IT & Telecom market shows the high growth rate of of 37.9% during (2022 - 2028). Web 3.0 is, at its most fundamental level, about leveraging blockchains (distributed ledgers) to decentralize processing power, resources, data, and rewards. STL Partners has written at length on the advent of blockchains and the potential they bring to telecommunications companies.
The North America market dominated the Global Web 3.0 Blockchain Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4.5 billion by 2028. The Europe market is poised to grow at a CAGR of 38% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 38.9% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/web-3-blockchain-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
By Blockchain Type
By End Use
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