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The Web 3.0 market has experienced substantial growth, climbing from $3.19 billion in 2023 to $4.43 billion in 2024, demonstrating a CAGR of 38.8%. This expansion is driven by concerns regarding data ownership, pursuit of interoperability standards, emergence of smart contracts, user-centric experiences, and increasing adoption of blockchain and cryptocurrency technologies. Looking forward, the market is set for continued exponential growth, projected to reach $16.3 billion in 2028, with a CAGR of 38.5%. Factors contributing to this growth include mass adoption of Web 3.0 technologies, scalability solutions, integration with traditional systems, evolution of token economies, regulatory dynamics, and demand for decentralized technologies and applications. Major trends include technological advancements, developer innovation, cross-chain collaboration, integration of edge computing, and evolution of tokenization and crypto economics.

The evolution of the Internet of Things (IoT) and smart devices is poised to drive the growth of the Web 3.0 market, which enhances connectivity, data utilization, and user experiences through integration of IoT and smart devices. This evolution fosters a more intelligent and responsive web environment. For instance, projections from Akamai Technologies Inc. in August 2022 indicate a rise in IoT connections from 15.1 billion in 2021 to 23.3 billion in 202Additionally, Cybercrew’s report in March 2023 forecasts an increase in UK households using smartphones from 91.43% in 2021 to 93.8% in 2026. Thus, the evolution of IoT and smart devices is fueling the growth of the Web 3.0 market, projected to reach a significant market size by 2028.

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What Are The Key Trends That Influence Web 3.0 Market Share Analysis?

Major companies in the Web 3.0 market are focusing on innovative advancements, such as Shardeum, a new Web 3.0 platform, due to the market’s growth and potential. Web 3.0, the third generation of the World Wide Web, is decentralized, open, and immersive, built on blockchain and semantic web technologies. For instance, in February 2022, Wazir X launched Shardeum to address scalability issues, leveraging Web 3.0’s enhanced data security, privacy, and user control. This platform offers solutions to decentralization and security challenges, catering to diverse use cases and providing a developer-friendly environment.

Which Market Players Are Driving Growth In The Web 3.0 Market?

Major companies operating in the web 3.0 market report are Huawei Services Co. Limited, Aamzon Web Services, International Business Machines, NTT Docomo Inc., Oracle Corp., Fijitsu Ltd., Binance Holdings Ltd., Coinbase Global Inc., Ripple Labs Inc., Consensys Inc., Polygon Labs, Alchemy Insights Inc., Sygnum Bank AG, Terra Networks SA, Zel Technologies Limited, Decentraland, Okcoin USA Inc., ChainAnalysis Inc., Ava Labs Inc., Protocol Labs Inc., Ocean Protocol Foundation Ltd., Helium Systems Inc., Yayoi Kusama, Kadena LLC, Crypto.Com

How Is The Global Web 3.0 Market Segmented?

The web 3.0 market covered in this report is segmented –

1) By Type: Public, Consortium, Private, Hybrid
2) By Application: Cryptocurrency, Smart Contracts, Conversational AI, Payments, Data And Transaction Storage, Other Applications
3) By End-Use: Banking Financial Services And Insurance, IT And Telecom, Retail And E-commerce, Pharmaceuticals, Media And Entertainment, Other End User

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The Web 3.0 Global Market Report 2024 provides an overview of the web 3.0market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The web 3.0 market forecast analyzes web 3.0 market size, web 3.0 market share, leading competitor and their market positions.

The Table Of Content For The Web 3.0 Market Include

1. Web 3.0 Market Executive Summary
2. Web 3.0 Market Segments
3. Web 3.0 Market Size And Template Market Growth Rate
4.  Key Web 3.0 Market Trends
5. Major Web 3.0 Market Drivers
……
25. Key Mergers And Acquisitions In The Web 3.0 Market
26. Top Web 3.0 Companies
27. Web 3.0 Market Opportunities And Strategies
28. Web 3.0 Market, Conclusions And Recommendations
29. Appendix

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