MRFR reports that the Web 3.0 market will grow exponentially by 2030

The comprehensive research report of the research institution Market Research Future (MRFR) pointed out that the market size of the Web 3.0 blockchain will grow at a healthy compound annual growth rate by 2030. Web 3.0 blockchain technology is the latest hot spot in the market. Considering the future of the Internet, Web 3.0 enables users and developers to use decentralized blockchain technology.

Simply put, the decentralized blockchain network promotes Web 3.0 and search engines, social media platforms, markets, etc.

As more and more people seek customized services, a decentralized blockchain network will replace centralized servers and information on multiple computing devices, which is more like a peer-to-peer Internet without a single authority.

Another important benefit of Web3.0 is that it can avoid Internet hackers and leaks and act as a system for specific users, thus becoming a pioneer in data security and privacy. Once Web 3.0 becomes a reality, the world can virtually see the resources, applications, and content that everyone can access. With in-depth penetration, the Web 3.0 blockchain market is expected to gain tremendous momentum in the next few years.

The report breaks down the Web 3.0 blockchain market forecast into blockchain types, applications, verticals, and regions. Among them, the types of blockchains are subdivided into public, private, alliance, and hybrid. The application part is roughly divided into cryptocurrency, conversational artificial intelligence, data and transaction storage, payment, smart contracts, etc. Vertical market segments are divided into BFSI, e-commerce and retail, media and entertainment, healthcare and pharmaceuticals, IT and telecommunications.

Today, many organizations are working hard to explore more about the potential of the Web 3.0 blockchain. Companies use users’ big data to promote their marketing and advertising, but the abuse of some data also brings consumer privacy issues . Therefore, data mining and utilization are not always conducive to brand recognition. Enterprises often face the threat of cyber attacks, which exposes a large amount of private data. Since Web 3.0 (also known as Spatial Web/Metaverse) can solve some of these privacy issues and determine who can access the data and profit from it, more and more companies are exploring the adoption of this technology.

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