Web 3.0 Market by Technology Layer, Type, Offering, Web 3.0 Stack, Application, End-user

List of Tables

[188 Pages Report] The Web 3.0 Market size was estimated at USD 1.34 billion in 2023 and expected to reach USD 1.74 billion in 2024, at a CAGR 32.22% to reach USD 9.53 billion by 2030.

Web 3.0, or Web 3, is the concept of the next generation of the web, in which users are connected via a decentralized network and have access to their data. Web 3.0 offers users more control over online content and makes data analysis more coherent. The growing initiatives from government agencies to introduce digitization projects based on Web 3.0 blockchains, rising data security concerns, and growing applications of Web 3.0 in payment systems are propelling the growth of the Web 3.0 market. Blockchain technology enables human-like intelligence to systems and improves data communication; as a result, companies are embracing Web 3.0 blockchain to improve data privacy and security, which is further driving the growth of the Web 3.0 market. The high cost of development and implementation of Web 3.0 solutions hinders the market prospects. However, the increasing popularity of cryptocurrencies in digitizing and gaming & non-fungible tokens (NFTs) spaces is raising the potential scope for Web 3.0. Additionally, the emerging number of startups and investments in blockchain-based systems is expected to boost the Web 3.0 market growth in the coming future.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.34 billion
Estimated Year [2024]	USD 1.74 billion
Forecast Year [2030]	USD 9.53 billion
CAGR (%)	32.22%

Technology Layer: Growing significance of scalable blockchain to provide secure and transparent systems

Artificial intelligence and machine learning have evolved as imperative in understanding and predicting online user behavior, personalizing content, enhancing user experience, and facilitating decision-making processes. AI and machine learning (ML) have been one of the essential structure blocks of Web 3.0, improving the user experience through better content recommendations and human-machine interactions. Through its subfield, natural language processing (NLP), artificial intelligence enables Web 3.0 to analyze and gradually understand online communication. Blockchain promises secure transactional integrity and user privacy in Web 3.0. Its core value proposition is its potential to decentralize web infrastructure and facilitate tamper-proof transactions. Edge computing processes analyzes, and stores data to enable rapid, near-real-time analysis and response. Edge computing provides the infrastructure for quick and reliable Web 3.0 developments and deployments. For Web 3.0, a larger user base and online content generate numerous data that depend on a reliable, stable, and safer data storage network. A decentralized data network or storage is based on blockchain technology and has more solid scalability, higher security, efficiency, and automatic fault tolerance. Users can sell their data, ensuring they maintain ownership control as Web 3.0 is based on decentralized data networks.

Type: Growing deployment of more secure, scalable, and efficient consortium blockchain network

Public blockchains are open, decentralized networks allowing anyone to participate without permission. The permissionless structure of public blockchains promotes open access and trustless cooperation between unknown participants. Private blockchains are closed networks that require permission to join or access, controlled by a single entity or consortium. Private blockchains offer more centralization than public networks but can process transactions faster and cheaper. Hybrid blockchains blend properties of both public and private networks, which helps balance the trade-offs between decentralization and scalability. Hybrid platforms can bridge across different blockchains, creating additional flexibility. Consortium blockchains are a hybrid model controlled by a group of organizations instead of a single entity. Consortium blockchains offer a compromise between full decentralization and the efficiency of private blockchains. They keep the control decentralized among multiple organizations while limiting the number of validators compared to public blockchains.

Offering: Potential adoption of decentralized messaging & communication services provides businesses with innovative solutions

In Web 3.0, the offerings primarily include customization and personalization, semantic search, AI-driven data analysis, and advanced application development services. Decentralized messaging & communication services operate on decentralized networks rather than centralized servers. They leverage blockchain or distributed ledger technologies to enable secure, private, and censorship-resistant communication. Distributed edge cloud services involve distributing cloud services to the network's edge, closer to the end-users. It aims to reduce latency, enhance performance, and improve the overall efficiency of cloud services. Identity & access management services focus on managing and securing digital identities and controlling access to resources. In the context of Web 3.0, they often involve decentralized identity solutions using blockchain technology. Non-fungible tokens are unique digital assets represented on blockchain platforms. They are indivisible and cannot be exchanged one-to-one. Web 3.0 browsers & wallets are web browsers designed to interact seamlessly with decentralized applications (DApps) and blockchain networks.

Web 3.0 Stack: Layer 0 Infrastructure provides the concrete resources to support the network.

The foundation of the Web 3.0 technology stack rests on Layer 0, also known as the Infrastructure layer, which comprises physical hardware, including servers, wires, and routers that provide the concrete resources to support the network. Layer 1 protocol involves the fundamental protocols governing blockchain network operation, defining rules for consensus mechanisms, data storage, and smart contracts. The Layer 2 utility serves as a bridge between protocol and service layers and accommodates functions such as security, scalability, and interoperability achieved via APIs, libraries, or other tools. The utility layer provides additional functionalities and services to enhance the capabilities of the underlying blockchain networks. The service layer encapsulates various services used to build applications. These can include data storage, processing, and machine learning services. This layer creates services and applications that leverage the underlying blockchain infrastructure and protocols. It comprises a wide range of decentralized applications (DApps) and services. The final application layer is where end-user applications interact with the Web 3.0 ecosystem through various decentralized applications and platforms. These applications often provide user-friendly interfaces and specific functionalities. This layer compiles coding instructions into functioning applications using services and utilities from the preceding layers.

Application: Emerging applications of smart contracts to organize governance among a large user base without engaging an external entity

The supply of cryptocurrencies is a well-known application of Web 3.0 and is known as Web 3 tokens. The main objective of cryptocurrencies is to give users greater control over their digital content with the help of a centralized infrastructure. Cryptocurrencies leverage blockchain technology to record the number of existing coins and their current holding status. Conversational AI-powered smart bots are another significant application of Web 3.0 that deliver content and services to users, can interact intelligently, and provide personalized experiences for each user. These smart conversational chatbots interact with customers via texts and multiple media, including voice, images, and contextual data. Through decentralized data networks or storage, Web3 gives users control over their data, where they can retain full access to storage and communication. This user-centric web version runs on blockchain networks, replacing single servers with several distributed computers worldwide. With Web 3.0, every transaction is recorded within the decentralized blockchain ledger for all parties involved, making companies directly accountable to their customers. Businesses use this transparency to build trust and long-lasting relationships with their customers. Web 3.0 enables users to take back power over their cash with blockchain security. Web 3.0 technology enables cross-border payments by connecting global banks and making the system interoperable, efficient, and affordable. Financial services of Web 3.0 include the infrastructure of decentralized finance (DeFi) and cryptocurrencies. Smart contracts handle user authentication by eliminating the need for a centralized sign-up process controlled by a single entity or company. Smart contracts enable most user-system interactions on decentralized apps (dApps) and automate most blockchain protocols.

End-user: Growing adoption of Web 3.0 in the BFSI sector for secure and efficient financial services

Banking, financial services, and insurance (BFSI) build relationships by merging key technologies such as virtual reality and augmented AI. They can use blockchain to enhance payment processes and lower costs for KYC. Web 3.0 would increase demand for transparency, and banks could follow authentic, transparent data collection practices. With Web 3.0, retailers can leverage advanced technologies, including AI, ML, and blockchain, to create highly personalized customer experiences. In addition, eCommerce sellers witness greater transparency with their vendors and other professionals that they work with. The Energy sector benefits from Web 3.0, as it can help optimize energy production and distribution, reduce energy waste, and enable peer-to-peer energy trading. In the era of Web 3.0, the concept of decentralized networks is revolutionizing the healthcare industry. Traditional healthcare systems often store data in centralized servers, making them susceptible to breaches and unauthorized access.

The healthcare and pharmaceutical sectors are on the cusp of a transformative journey driven by the emergence of Web 3.0 technologies. Blockchain, decentralized applications (dApps), and tokenization are set to revolutionize the management of healthcare data, conducting research, and delivering patient care. In the IT and telecommunication sector, Web 3.0 technologies allow users to connect directly, creating more secure, private, and resilient networks. Web 3.0 brings a decentralized platform that disrupts the traditional power structure.

Regional Insights

In the Americas, well-established technology hubs and the increasing use of cryptocurrency raised the utilization of Web 3.0 technology. Major tech companies are investing heavily in Web 3.0 solutions across the United States and Canada to provide scalable decentralized platforms for end-users, including the government, fostering the scope of America's Web 3.0 market. The regional governments supporting responsible digitalization of financial institutes and the defense sector to expand access to safe data communication have created a strong landscape for the global Web 3.0 in the Americas. In Asia-Pacific, rapidly rising digital transactions, government initiatives and investment in blockchain technology, and advancement in FinTech blockchain technology significantly increased the utilization of Web 3.0 technology. Countries, including India, Singapore, and Hong Kong, have established several partnerships with market players to leverage Web 3.0 in asset tracking and data management. Adopting Web 3.0 technology in the EMEA region has increased, owing to the increasing regulatory support, collaboration between end-users and market startups, and rising demand for enhanced data management solutions. The emergence of several startups across the region has spurred the growth of the Web 3.0 market in EMEA.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Web 3.0 Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Web 3.0 Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Web 3.0 Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Alchemy Insights, Inc., Amazon Web Services, Inc., Ava Labs, Inc., Biconomy, Binance, Brave Software, Inc., Chainlink Foundation, Cloudflare, Inc., Coinbase Global, Inc., Consensys Software Inc., Covalent Research and Development, Crypto.com, Cultos by Authenticiti, Inc., Filecoin, Fujitsu Limited, Google LLC by Alphabet Inc., HCL Technologies Limited, Huawei Cloud Computing Technologies Co., Ltd., InfStones Limited, International Business Machines Corporation, Kadena LLC, KryptoGO, Inc., Microsoft Corporation, NTT Docomo Inc., Ocean Protocol Foundation Ltd., Oracle Corporation, Parfin by Parity Financial Ltd., Pinata Technologies, Inc., Polygon Labs UI (Cayman) Ltd., Ripple Labs Inc., Salesforce, Inc., SAP SE, Stiftung Ethereum, Terraform Labs Pte. Ltd., Tezos Foundation, The Algorand Foundation Ltd., Web3 Foundation, and web3.storage.

Market Segmentation & Coverage

This research report categorizes the Web 3.0 Market to forecast the revenues and analyze trends in each of the following sub-markets:

Technology Layer
- Artificial learning & Machine learning
- Blockchain
- Decentralized Data Network/ Decentralized Storage
- Edge Computing

Type
- Consortium
- Hybrid
- Private
- Public

Offering
- Decentralized Messaging & Communication Services
- Distributed Edge Cloud Services
- Identity & Access Management Services
- Non-Fungible Tokens
- Web 3.0 Browsers & Wallets

Web 3.0 Stack
- Layer 0 - Infrastructure
- Layer 1 - Protocol
- Layer 2 - Utility
- Layer 3 - Service
- Layer 4 - Application

Application
- Conversational AI
- Cryptocurrency
- Data & Transaction Storage
- Payments
- Smart Contract

End-user
- BFSI
- E-Commerce & Retail
- Energy & Utility
- Healthcare & Pharmaceuticals
- IT & Telecom
- Media & Entertainment

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Web 3.0 Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Web 3.0 Market?

3. What are the technology trends and regulatory frameworks in the Web 3.0 Market?

4. What is the market share of the leading vendors in the Web 3.0 Market?

5. Which modes and strategic moves are suitable for entering the Web 3.0 Market?

Product Code: MRR-2E76C3E47F49

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing concerns associated with data privacy and ownership
  - 5.1.1.2. Rapid expansion of the decentralized platforms (DeFi)
  - 5.1.1.3. Rising number of cross-border payment transactions
- 5.1.2. Restraints
  - 5.1.2.1. High cost of implementation of Web 3.0
- 5.1.3. Opportunities
  - 5.1.3.1. Continuous innovations in the development of Web 3.0
  - 5.1.3.2. Increasing integration of blockchain and DApps in the gaming industry
- 5.1.4. Challenges
  - 5.1.4.1. Scalability and interoperability concerns associated with Web 3.0
5.2. Market Segmentation Analysis
- 5.2.1. Technology Layer: Growing significance of scalable blockchain to provide secure and transparent systems
- 5.2.2. Type: Growing deployment of more secure, scalable, and efficient consortium blockchain network
- 5.2.3. Offering: Potential adoption of decentralized messaging & communication services provides businesses with innovative solutions
- 5.2.4. Web 3.0 Stack: Layer 0 Infrastructure provides the concrete resources to support the network.
- 5.2.5. Application: Emerging applications of smart contracts to organize governance among a large user base without engaging an external entity
- 5.2.6. End-user: Growing adoption of Web 3.0 in the BFSI sector for secure and efficient financial services
5.3. Market Trend Analysis
- 5.3.1. Proliferating IT sector to propel the demand for advanced Web 3.0 solutions in the Americas
- 5.3.2. Rapidly evolving digital infrastructure and fostering digital payments in the Asia-Pacific
- 5.3.3. Significant role of governments in driving Web 3.0 innovations in the EMEA region
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Web 3.0 Market, by Technology Layer

6.1. Introduction
6.2. Artificial learning & Machine learning
6.3. Blockchain
6.4. Decentralized Data Network/ Decentralized Storage
6.5. Edge Computing

7. Web 3.0 Market, by Type

7.1. Introduction
7.2. Consortium
7.3. Hybrid
7.4. Private
7.5. Public

8. Web 3.0 Market, by Offering

8.1. Introduction
8.2. Decentralized Messaging & Communication Services
8.3. Distributed Edge Cloud Services
8.4. Identity & Access Management Services
8.5. Non-Fungible Tokens
8.6. Web 3.0 Browsers & Wallets

9. Web 3.0 Market, by Web 3.0 Stack

9.1. Introduction
9.2. Layer 0 - Infrastructure
9.3. Layer 1 - Protocol
9.4. Layer 2 - Utility
9.5. Layer 3 - Service
9.6. Layer 4 - Application

10. Web 3.0 Market, by Application

10.1. Introduction
10.2. Conversational AI
10.3. Cryptocurrency
10.4. Data & Transaction Storage
10.5. Payments
10.6. Smart Contract

11. Web 3.0 Market, by End-user

11.1. Introduction
11.2. BFSI
11.3. E-Commerce & Retail
11.4. Energy & Utility
11.5. Healthcare & Pharmaceuticals
11.6. IT & Telecom
11.7. Media & Entertainment

12. Americas Web 3.0 Market

12.1. Introduction
12.2. Argentina
12.3. Brazil
12.4. Canada
12.5. Mexico
12.6. United States

13. Asia-Pacific Web 3.0 Market

13.1. Introduction
13.2. Australia
13.3. China
13.4. India
13.5. Indonesia
13.6. Japan
13.7. Malaysia
13.8. Philippines
13.9. Singapore
13.10. South Korea
13.11. Taiwan
13.12. Thailand
13.13. Vietnam

14. Europe, Middle East & Africa Web 3.0 Market

14.1. Introduction
14.2. Denmark
14.3. Egypt
14.4. Finland
14.5. France
14.6. Germany
14.7. Israel
14.8. Italy
14.9. Netherlands
14.10. Nigeria
14.11. Norway
14.12. Poland
14.13. Qatar
14.14. Russia
14.15. Saudi Arabia
14.16. South Africa
14.17. Spain
14.18. Sweden
14.19. Switzerland
14.20. Turkey
14.21. United Arab Emirates
14.22. United Kingdom

15. Competitive Landscape

15.1. Market Share Analysis, 2023
15.2. FPNV Positioning Matrix, 2023
15.3. Competitive Scenario Analysis
- 15.3.1. Web 3.0 Company Treehouse Acquires Origins, Targets Its NFT-Related Tools
- 15.3.2. Consensys Acquires SMG to Deliver State-of-the-Art Mechanism Design for Web3
- 15.3.3. KryptoGO Introduces AI-Powered One-Stop Web3 Cloud Solution
- 15.3.4. Dhiway and Google Cloud Announce A Strategic Partnership to Empower Developers and Startups Building on CORD
- 15.3.5. Microsoft and Aptos Blockchain Partner to Revolutionize Web 3.0 and AI Integration
- 15.3.6. Amazon Expands Web3 Reach With Cloud Tools That Help Blockchain Developers
- 15.3.7. IOST Announces Strategic Partnership with Amazon Web Services (AWS) to Foster Web 3.0 Development
- 15.3.8. Fujitsu Launches New Platform To Support Web 3.0 Developers Globally
- 15.3.9. NTT DOCOMO and Accenture Collaborate to Accelerate Adoption of Web3
- 15.3.10. Shemaroo partners with Seracle for Web 3.0 Expansions
- 15.3.11. Oracle and InfStones Collaborate to Accelerate Web3 Development
- 15.3.12. SoftBank co-led USD 66 Million Round For Blockchain-Focused Infstones

16. Competitive Portfolio

16.1. Key Company Profiles
16.2. Key Product Portfolio