Latest News:- Web 3.0 Blockchain Market: BFSI is expected to lead the End-user segment during 2024-2028

Web 3.0 Blockchain Market to grow at a CAGR of 60% during 2024-2028

The Web 3.0 Blockchain Market is expected to grow at a CAGR of 60% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 61141 million. In the dynamic Web 3.0 blockchain market, key players are strategically expanding their presence through new launches and collaborations. These initiatives enable companies to expand their offerings and enhance their market footprint. For instance, in May 2023, Crypsense and Africa Blockchain Center established a research and development lab for Web 3.0 blockchain technologies. Similarly, Seracle, a leading blockchain technology firm, announced the launch of the House of Web 3.0, an incubation center for Web 3.0 projects in India. Such strategic moves will significantly contribute to the global growth and diversification of the Web 3.0 blockchain landscape. 

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The BFSI subsegment is expected to dominate the End-user segment during the forecast period 

Technavio analysts predict that the BFSI subsegment will lead the End-user segment during 2024 and 2028 In the burgeoning Web 3.0 landscape, blockchain technology is revolutionizing markets by providing decentralized and secure solutions. This innovative technology enables trustless transactions, enhances data security, and fosters transparency. By leveraging blockchain's immutable ledger, businesses can streamline operations, reduce costs, and improve customer trust. The global Web 3.0 blockchain market is poised for exponential growth, offering significant opportunities for forward-thinking organizations.

Here are the various ways based on which the market is segmented: 

• End-user
  • BFSI
  • Government
  • Healthcare
  • Others
• Geography
  • North America
  • Europe
  • APAC
  • South America
  • Middle East and Africa

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• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
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There are several factors that are causing the market to flourish growing investment in web 3.0 blockchain

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Web 3.0 blockchain market is revolutionizing the digital landscape with its decentralized data storage and personal data security features. This new iteration of the web is powered by permissionless systems, public blockchain networks, and decentralized ledgers. One such project, Shardeum, is a decentralized cryptocurrency exchange platform that aims to connect linked devices and enable seamless trading of digital assets. Decentralized protocols are at the heart of this new financial system, offering decentralized payment systems, data ownership, and personal information security. Artificial intelligence (AI) and machine learning (ML) are also being integrated into the crypto sector, with platforms like Compound Finance providing trading services, borrowing, and lending. Financial institutions are increasingly exploring the potential of blockchain-based platforms, with decentralized finance (DeFi) websites offering a middleman-free banking experience. Decentralized identity solutions are also gaining traction, allowing individuals to retain control over their personal information. As the blockchain market continues to evolve, it's clear that decentralized systems will play a pivotal role in shaping the future of finance and data management.

Market Research Overview

The global IT software market encompasses businesses specializing in the creation and distribution of application, system, and database management software. According to Technavio, the market size is determined by the consolidated revenue of organizations involved in the software sector, including those providing cloud-based solutions. This market segment includes enterprise and technical software vendors, catering to business and consumer needs, excluding those classified under interactive home entertainment and systems software for database management.

The Web 3.0 Blockchain Market is experiencing significant growth, fueled by the growing investment in web 3.0 blockchain. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
Jesse Maida
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