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Web 3.0 Blockchain Market Trends

Report ID: GMI7359
Published Date: Nov 2023
Report Format: PDF

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Web 3.0 Blockchain Market Trends

Governments providing substantial subsidies to Web 3.0 businesses are driving significant growth in the market. These subsidies encourage the development of innovative solutions, supporting research, infrastructure & talent acquisition. For instance, in August 2023, Dubai, United Arab Emirates, planned to grant commercial licenses to Artificial Intelligence (AI) and Web3.0 enterprises with an anticipated 90% subsidy. This initiative aims to establish a hub for innovative tech companies in the Middle East and North Africa, encouraging the growth of new-age technologies in these areas. This proactive support accelerates the deployment of blockchain technologies, stimulates entrepreneurship, and enhances the overall market landscape.

The increasing popularity of Web 3.0 blockchain-based games is a major factor driving the web market growth. These games leverage blockchain technology to offer players true ownership of in-game assets, enabling transparent transactions and unique gaming experiences. As these games gain traction, they attract more users to the blockchain space, fostering wider adoption of decentralized applications. The demand for blockchain integration in gaming is propelling innovation, investment, and overall market expansion.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of web 3.0 blockchain was worth USD 2.1 billion in 2022 and is expected to register over 40% CAGR from 2023 to 2032, due to increasing funding in Web 3.0 applications and improved security in blockchains worldwide.

The BFSI end-user segment held 28% share of the Web 3.0 blockchain industry in 2022 and is expected to register appreciable CAGR from 2023 to 2032, due to the rising collaborations and partnerships between financial institutions and blockchain technology providers.

North America held 32% share of the web 3.0 blockchain market in 2022 and is expected to register commendable CAGR through 2032, due to the presence of a strong technological infrastructure in the region.

Antier Solutions, Binance, Fujitsu Limited, Helium Systems Inc, IBM Corporation, Kadena LLC, Ocean Protocol Foundation Ltd., Oracle Corporation, Polkadot, and Terra, are some of the major web 3.0 blockchain companies worldwide.