Blockchain as the engine – The Economic Times

The global Web 3.0 blockchain market size was $1.36 billion in 2021 and is expected to expand at a compound annual growth rate of 44.9% from 2022 to 2030. The growth can be attributed to the rising demand for data privacy through the decentralised identity of Web 3.0 and the technological advancements on the internet. The rapid rise in the popularity of digital assets such as cryptocurrencies, along with the deployment of the 5G and 6G technologies, is further expected to contribute to the growth. The growing usage of connected devicesand the improved transaction processes too will help grow the Web 3.0 blockchain industry….

North America dominated the market in 2021 and accounted for a global revenue share of over 37%. The rising acceptance of Web 3.0 in numerous operating systems, such as blockchain-based systems, is a major factor driving the growth of the regional market. At the same time, the presence of major blockchain solution providers such as Web3 Foundation and Helium Systems Inc in the region is also accentuating regional growth.

Asia-Pacific is projected to emerge as the fastest-growing market during the forecast period. The rapid adoption of digitisation using Web 3.0 among banking and finance companies is the major factor driving the growth of the Asia-Pacific region. The retail and ecommerce industries too are growing in the region, which is one of the largest contributors to the blockchain industry. Such factors bode well for the growth of the Web 3.0 blockchain in the Asia-Pacific region

(From ‘Web 3.0 Blockchain Market Size, Share & Trends Analysis Report, 2022-2030’, Grand View Research)