Blockchain
Web 3.0 Market to Hit $49.10 Billion by 2030: Cognitive Market Research
The Global Web 3.0 Market size is valued at USD 3.34 Billion in 2022 and is projected to be USD 49.10 Billion by 2030, growing at a CAGR of 46.7% from 2023 to 2030, as per a recent report published by Cognitive Market Research. Web 3.0 infrastructure enhances the user experience by providing highly interactive advertising opportunities. Hence, companies are investing and raising funds to accelerate their Web 3.0 platform. For instance, Livepeer has raised $20 Million for a Series B extension, which will accelerate the growth of Livepeer’s Web3 infrastructure.
Major findings during the study of the Web 3.0 Market:
- The Web 3.0 blockchain market is primarily driven by the benefits of decentralized systems to provide greater security, transparency, and privacy for users compared to traditional centralized systems
- The Web 3.0 market is still in its nascent stages, but it is growing rapidly as more developers and entrepreneurs explore the potential of decentralized applications (dApps) and blockchain-based technologies
- The ability of public networks ensures users across the globe to participate in the network without any restrictions. This attributes to the dominance of the public segment in the Web 3.0 blockchain segment. Further, Web 3.0 is widely used as NFT-powered business model, and large groups of investors are pouring their investments into the nascent Web3 ecosystem, further accelerating the growth of the market
- In terms of end-use industries, BFSI held a maximum revenue share of 31.05% in the market. This can be attributed to the rising demand for Web 3.0 technology in high-speed transactions. It further helps in reducing processing costs in banking sectors
- North America dominates the Web 3.0 market with the highest market share in 2022. This is owing to the wide usage of Web 3.0 in numerous applications such as artificial intelligence, blockchain, online payments, and others
- Similarly, AI and machine learning have currently gained traction in U.S. organizations, with many either employing or planning to utilize AI use cases. In addition, investment in the United States has increased in recent years. Thus, by 2022, the North American artificial intelligence (AI) industry will have reached 24.9 billion US dollars, making it a large AI regional market. This increases the rate of Web 3.0 adoption in North America
View Detailed Report Description:
Web 3.0 Market 2022:
|
Global Web 3.0 Market |
2022 |
|
Global Revenue (USD Billion) |
3.34 |
|
CAGR – (2023-2030) |
46.7 % |
|
Public Type Share |
48.4 % |
|
Cryptocurrency Application Share |
29.7 % |
|
BFSI End-use Share |
31.1 % |
|
North America Web 3.0 Market Regional Share |
34.8 % |
What are the Growth, Drivers, and Restraints for the Web 3.0 Market?
Driver:
Increasing demand for data privacy through the decentralized identity
Web 3.0, also known as the decentralized web built on an open blockchain network, is a vision for the future of the internet in which users have greater control over their data and online interactions. With the advancement in technology such as blockchain, it is possible to create decentralized applications (dApps) that operate independently of centralized servers. Moreover, along with greater control and privacy, Web 3.0 also provides Decentralized finance (DeFi). DeFi applications built on blockchain technology could potentially disrupt traditional financial systems by providing greater access and transparency for users. For cryptocurrency users, it offers the ability to invest, borrow, lend, trade, and take crypto assets permission without any hassle.
Restraint:
Lack of awareness about Web 3.0 blockchain:
Despite the potential benefits of Web 3.0 and blockchain technology, many people and organizations are unaware of Web 3.0 blockchain and how it works. This lack of awareness can slow the adoption of blockchain-based solutions, as businesses may be hesitant to invest in technologies that need to be better by their customers. Moreover, the technical complexity of blockchain technology can also make it difficult for people to understand and use. This might hamper the growth of the Web 3.0 blockchain market.
Check the Full Report, including Global, Regional, and Country Level Analysis:
https://www.cognitivemarketresearch.com/web-3.0-market-report
Our free sample report includes:
- 2023 Updated Report Introduction, Overview, and In-depth industry analysis
- Included COVID-19 Impact Analysis
- 250+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on the Request
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, Revenue Analysis, and SWOT Analysis (Free analysis of one company profile)
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes an Updated List of tables & figures
- Cognitive Market Research Methodology
How COVID-19 Impacted the Web 3.0 Market?
The digitization process is being significantly accelerated by COVID-19, due to which several cryptocurrency businesses has emerged. The pandemic encouraged businesses to use digital platforms more frequently and to invest in digital solutions. Firms that did not employ any digital platform or channel prior to the pandemic inclined towards digital payments. Additionally, there is an increasing concentration of online sales among top businesses even though the percentage of online sales among firms for all sizes grew.
Additionally, during the COVID-19 pandemic, artificial intelligence (AI) has made great strides, particularly in the area of predictive machine learning models for medical treatment. In many areas of COVID-19, such as diagnosis, public health, clinical decision-making, social control, medicines, vaccine development, surveillance, combination with big data, operation of other key clinical services, and care of COVID-19 patients, artificial intelligence has been employed extensively. All of the considerations mentioned above show that Web 3.0 usage is skyrocketing in the aftermath of COVID-19.
Recent Development:
|
Date |
News |
|
January 2022 |
Livepeer has raised $20 Million from its new investor, Alan Howard: Livepeer has raised $20 Million for Series B extension which will accelerate the growth of Livepeer’s Web3 infrastructure. |
Web 3.0 Market Report Scope
- Web 3.0 Market – Type Outlook (Revenue, USD Billion, 2018 – 2030)
- Public
- Private
- Consortium
- Hybrid
- Web 3.0 Market – Application Outlook (Revenue, USD Billion, 2018 – 2030)
- Cryptocurrency
- Conversational AI
- Data & Transaction Storage
- Payments
- Smart Contracts
- Others
- Web 3.0 Market – End-use Outlook (Revenue, USD Billion, 2018 – 2030)
- BFSI
- Retail & E-commerce
- Media & Entertainment
- Pharmaceuticals
- IT & Telecom
- Others
- Web 3.0 Market – Regional Outlook (Revenue, USD Billion, 2018 – 2030)
- North America (U.S., Canada, Mexico)
- Europe (UK, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Luxembourg, Netherlands, Switzerland, Belgium, and Rest of Europe)
- Asia Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, and Rest of APAC)
- Latin America (Brazil, Argentina, Colombia, Peru, Chile, and Rest of LA)
- Middle East & Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, and Rest of MEA)
List of Key Players in the Web 3.0 Market
-
- Filecoin
- Web3 Foundation
- Zel Technologies Limited.
- Livepeer, Inc.
- Brunswick Corporation
- Helium Systems Inc.
- Kusama
- Polygon Technology
- Kadena LLC
- Ocean Protocol Foundation Ltd.
- Others
Related Reports on the Web 3.0 Market:
- Global Machine Learning is projected to hit USD 213.56 Billion by 2030
The global machine learning market is expected to reach USD 213.56 Billion by 2030 growing at a CAGR of 38.7%. Machine learning uses data and algorithms in order to imitate the way that humans learn. It is a branch of AI and computer science that is an important component of the growing field of data science. The rise in the adoption of technology platforms has spurred the market for machine learning. The increasing robotics sector has also accelerated the need for machine learning.
- Global Metaverse is expected to reach USD 512.49 Billion by 2030
The global metaverse market is expected to reach USD 512.49 Billion by 2030 growing at a CAGR of 47.8%. Metaverse refers to a virtual world that is facilitated by the use of VR and AR. Rising awareness associated with gaming and entertainment has enhanced the market for the metaverse. Further, outbreak of the COVID-19 pandemic has accelerated the demand by changing the social behavior of people.
Other Related Reports:
- Global Artificial Intelligence Market to reach $1,489.64 Billion by 2030, growing at an impressive CAGR of 39.0%
- Global BFSI Security Market to hit $114.6 Billion by 2030, growing at an impressive CAGR of 13.6%
- Global Digital Payment Market to reach $196.34 Billion by 2030, growing at an impressive CAGR of 14.7%
- Global Virtual Reality Market to reach $38.24 Billion by 2030, growing at an impressive CAGR of 16.3%
- Global IoT in Logistics Market to reach $99.67 Billion by 2030, growing at an impressive CAGR of 12.4%
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
-
Blockchain4 days agoBinance Cleared to Invest Customer Assets in US Treasury Bills: What It Means for Crypto and Dollar Dominance
-
Blockchain4 days ago
Deep Custodian Limited Obtains Hong Kong TCSP License, Authorized to Provide Compliant Crypto Asset Custody Services
-
Blockchain Press Releases2 days agoBybit Web3 Livestream Explores Cultural Meme Coins and Other Trends
-
Blockchain2 days ago
Blockchain Intelligence Group adds additional modules and launches its Certified Cryptocurrency Investigator – Advanced Series
-
Blockchain3 days agoBitAngels Network Hosts Blockchain Pitch Competition in Nashville
-
Blockchain Press Releases2 days agoBybit Surges to Second Place in Derivatives Market, Solidifying Position as Global Crypto Trading Leader
-
Blockchain3 days agoCoinW Continues Expedition Trek And Double Down On Presence At ETH-Native Events
-
Blockchain5 days agoWOO X and OpenTrade Enhance RWA Earn Vaults with Flexible Withdrawals
