Web 3.0 Blockchain Market to be dominated by BFSI industry through 2027 | TechSci Research

Favorable government initiatives and high-end investments in R&D activities are driving the growth of global web 3.0 blockchain market in the forecast period, 2023-2027.

According to TechSci Research report, “Web 3.0 Blockchain Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, the global web 3.0 blockchain market is anticipated to witness a growth of steady CAGR in the forecast period, 2023-2027. Web 3.0 is the third generation of internet services enabling websites and applications to run in a decentralized manner. Rapid digital transformation in the BFSI industry, advances in the 5G technology, and the growing adoption of artificial intelligence and machine learning technology by enterprises are the major factors driving the growth of the global web 3.0 blockchain market.


Web 3.0 blockchain is the future of the web that would enhance the intelligence of the internet and process information with near human-like intelligence by running smart programs to assist the users in the best way possible. Four key features of web 3.0 blockchain are 3D graphics, artificial intelligence, ubiquity, and the semantic web. Web 3.0 blockchain is expected to revolutionize graphics technology by making the physical and digital world into one, thereby improving user experience. By using artificial intelligence technology, the web 3.0 blockchain would be able to decipher the emotions and meaning provided by a given set of data. Ubiquity means present everywhere. Similarly, web 3.0 makes the internet accessible to everyone at any time. Web 3.0 is expected to identify all kinds of semantics to derive meaningful information from a given set of data. 


However, the lack of awareness about the benefits of web 3.0 blockchain technology may restrain the market growth in the forecast period.


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The global web 3.0 blockchain market is segmented based on blockchain type, application, vertical, organization size, company, and regional distribution.

Based on the blockchain type, the market is divided into public, private, consortium, and hybrid. Public blockchain technology is expected to account for the highest market share in the forecast period. It is a shared network with no restrictions set up for participation. The public blockchain is witnessing increased demand over its other counterparts as it offers complete control to users, is transparent, requires no regulations, and is highly secure.

Based on the organization size, the market is divided into small and medium-sized enterprises and large enterprises. Large enterprises are expected to capture the largest market share in the forecast period. Large enterprises are making high-end investments for technological upgradation and adopting advanced technologies to stay ahead in the market. The enterprises belonging to sectors, namely, healthcare, financial services, insurance, and supply chain, are digitizing their offerings, thereby creating the demand for blockchain technology worldwide.

Based on regional analysis, the North America region is expected to dominate the global web 3.0 blockchain market in the forecast period. The rapid adoption of web 3.0 blockchain technology and the presence of significant market players offering innovative solutions are driving the demand for the global web 3.0 blockchain market. Investors are making investments in research and development activities to provide innovative solutions to stay ahead in the market.

Major market players operating in the global web 3.0 blockchain market are:

·         Polkadot (Web3 Foundation)

·         Helium Systems Inc.

·         Ocean Protocol Foundation Ltd.

·         Decentraland

·         Flux

·         Filecoin

·         Kadena

·         ZCash

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“The growing penetration of IoT-connected devices and the ability of web 3.0 blockchain technology to lower the risks of fraudulent attacks is expected to attract investors to invest in purchasing cryptocurrency. Blockchain and cryptocurrency technology follow decentralization protocols, and with the advancements in web 3.0, digital currency is expected to grow at an exponential rate. Existing market players are investing to make the platform more secure, keeping in mind the anticipated roll-out of web 3.0 technology to stay ahead in the market. Increased awareness about the benefits of purchasing digital money and the rise in the market players offering innovative solutions are expected to propel the global web 3.0 blockchain market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.


“Web 3.0 Blockchain Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027 Segmented By Blockchain Type (Public, Private, Consortium, and Hybrid), By Application (Cryptocurrency, Conversational AI, Data & Transaction Storage, Payments, Smart Contract, and Others), By Vertical (BFSI, E-commerce & Retail, Media & Entertainment, Healthcare & Pharmaceuticals, IT & Telecom, and Others), By Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), and By Region”, has evaluated the future growth potential of global web 3.0 blockchain market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global web 3.0 blockchain market.


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