Global Web 3.0 Blockchain Market Size, Share, Growth Analysis, By Type(Public, Private), By Application(Cryptocurrency, Conversational AI), By End User(BFSI, Retail & E-commerce) - Industry Forecast 2024-2031

Web 3.0 Blockchain Market size was valued at around USD 1.86 Billion in 2019 and is expected to reach a value of USD 15.9 Billion by 2031, at a CAGR of 42.99% over the forecast period (2024-2031).

The market for Web 3.0 is consolidated globally, with the majority of revenue coming from large, medium-sized, and small-sized players. Due to growing government initiatives for the development of 5G infrastructure, the rising use of cutting-edge technologies like blockchain, and the rising demand for decentralized applications and services around the world, the size of the global web 3.0 blockchain market will experience robust growth during the forecast period. 'Web3 Foundation (Polkadot)', 'Helium Systems Inc.', 'Ocean Protocol Foundation Ltd.', 'Zel Technologies Limited.', 'Kusama', 'Livepeer, Inc.', 'Filecoin', 'Kadena LLC', 'Polygon technology', 'Terra', 'Decentraland', 'Biance', 'Alchemy Insights, Inc.', 'Antier Solutions', 'Com', 'Coinbase', 'Ripple', 'Highstreet'

The three main components of web 3.0 blockchain technology are artificial intelligence (AI), machine learning (ML), and blockchain technology. The web 3.0 blockchain focuses on safeguarding user privacy and personal data security while enabling decentralized data storage. Due to its frictionless ownership transfers, cryptocurrency-based payments, and data transfers, Web 3.0 has altered how people and machines interact with each other. Blockchain technology enables Web 3.0 by letting people choose themselves which information to share.

Blockchain is a technology that is constantly developing in the Web 3.0 era. For the end user, IT offers many advantages, including cheaper operating costs, faster speeds, a lesser risk of cyberattacks, and control over personal data. Numerous significant technological developments have occurred in recent years, including the integration of blockchain technology into logistics and operations and the Internet of Things. In order to use the technology to its fullest extent in areas like browsing, social networking, messaging, and data storage, there is a lot of research and development being done to make it more scalable. The development of NFT payment systems and digital collectibles over the past few years has been aided by Web 3.0 technologies.

The global Web 3.0 North America is likely to rule the blockchain market during the anticipated time frame. One of the principal elements driving the growth of the regional industry is the expanding acceptance of Web 3.0 in many operating systems, including blockchain-based systems. Additionally, the region's rise is being exacerbated by the presence of major blockchain solution providers like Web3 Foundation and Helium Systems Inc.