What is WEB 3.0 Market?
Web 3.0 is the context of Ethereum, which refers to decentralized applications run on blockchain technology. It allows users to participate without monetizing their personal data. It has wide application for developing static websites rather than dynamics. However, it has a wide demand in the Media industry as well the Ecommerce industry due to decentralized Systems. Geographically, North America is the leading region for higher adoption of web 3.0 due to rapid demand in blockchain technology and it has wide application NTF for selling assets from single without a middle man. The demand for the market is huge due to wide application in various industry verticals that is driving the growth of the market over the forecast period.
The market study is being classified, by Application (NFT's (non-fungible tokens) and Defi (decentralized finance)) and major geographies with country level break-up.
QuikNode, Inc (United States), Alchemy Insights, Inc (United States), The Dapp List Ltd (United States), EthBlock.art (United States), Alphawallet (Singapore), Decentology (United States), Iota (Germany), Pentagon (United States), Web2 labs (United Kingdom), Web3 Foundation (United States) and Others are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. The market is expected to grow in E-Commerce Industry. It has wide applications in decentralized apps that run on the blockchain. Several companies such as Iota, QuikNode, Inc are operating in the market to provide customers with better offers with various features & unique offerings as well as products and services. The market is consolidated with the presence of several market players. The demand in the market is huge due to wide application in various industry verticals that are triggering the market growth over the forecast period Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global WEB 3.0 market throughout the predicted period.
Analyst at AMA have segmented the market study of Global WEB 3.0 market by Type, Application and Region.
On the basis of geography, the market of WEB 3.0 has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- It does not require personal data
- Rising demand for blockchain technology for fare transaction
- The initial cost is expensive
- Mode of Payments is built-in via the native token, ether (ETH) so that no one can block or deny access to the service
- The lack of integration is required in web browsers in order to make web3 less accessible to users.
- Transactions Scalability is slower on web3 because of a decentralized network
Market Leaders and some development strategies
On December 2021 Antler India is planning for investment in Web3 platform, blockchain start-ups. The total acquisition cost is USD 250,000 and above
ON December 2021 Iota has launched a decentralized smart contract platform to expand the Web3 ecosystem
Key Target AudienceApplication Developer, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End-use Industry