In 2023, the Web3.0 blockchain technology sector will be worth more than six trillion dollars, according to Market Research Future, and Web3.0 will continue to grow at a CAGR of 44.6% from 2023 to 2030.
Because Web3.0 relies heavily on blockchain, many wrongly believe that its fate is inevitably linked to the volatile cryptocurrency market. However, cryptos are just one part of the new sector. Gartner explains that while cryptocurrencies crashed in the first half of 2022, decision-makers should not assume that the value of Web3.0 technology is affected. According to the research and consulting firm, Web3.0 tech will soon reach its adoption tipping point and industries from aircraft maintenance to food safety will tokenize their applications.
What drives the growth of Web3.0?
The Web3.0 Blockchain Market Research Report reveals the business, technical and security reasons driving Web3.0 growth. While the COVID-19 pandemic devastated industries like hospitality, automobile, aviation and retail, the IT industry revenue increased steadily. IT also saw new market opportunities as users demanded 5G tech, virtual and augmented reality, blockchain applications, AI and machine learning. These technologies are the pillars on which Web3.0 is being built.
SEE: Metaverse cheat sheet: Everything you need to know (free PDF) (TechRepublic)
“Blockchain has been a proven technology that ensured the security of the crypto and NFTs to the next level — now, it is ready to ultimately transform the next generation of web technologies,” Aarti Dhapte, senior research analyst at Market Research Future told TechRepublic. “Web3 blockchain will completely transform the existing conventional processes of the different sectors.”
From financial services to retail and e-commerce, media and entertainment, healthcare, IT, government and energy: Almost every sector is expected to adopt Web3.0 blockchain.
Top executives and decision-makers see potential in the highly transparent nature of a decentralized Web3.0, where all transactions are recorded and registered and can be easily traced. On the other hand, developers and IT teams invest in Web3.0 due to the strengths of its rapidly developing technology.
Continue reading: https://www.techrepublic.com/article/web-blockchain-technology-market/
Because Web3.0 relies heavily on blockchain, many wrongly believe that its fate is inevitably linked to the volatile cryptocurrency market. However, cryptos are just one part of the new sector. Gartner explains that while cryptocurrencies crashed in the first half of 2022, decision-makers should not assume that the value of Web3.0 technology is affected. According to the research and consulting firm, Web3.0 tech will soon reach its adoption tipping point and industries from aircraft maintenance to food safety will tokenize their applications.
What drives the growth of Web3.0?
The Web3.0 Blockchain Market Research Report reveals the business, technical and security reasons driving Web3.0 growth. While the COVID-19 pandemic devastated industries like hospitality, automobile, aviation and retail, the IT industry revenue increased steadily. IT also saw new market opportunities as users demanded 5G tech, virtual and augmented reality, blockchain applications, AI and machine learning. These technologies are the pillars on which Web3.0 is being built.
SEE: Metaverse cheat sheet: Everything you need to know (free PDF) (TechRepublic)
“Blockchain has been a proven technology that ensured the security of the crypto and NFTs to the next level — now, it is ready to ultimately transform the next generation of web technologies,” Aarti Dhapte, senior research analyst at Market Research Future told TechRepublic. “Web3 blockchain will completely transform the existing conventional processes of the different sectors.”
From financial services to retail and e-commerce, media and entertainment, healthcare, IT, government and energy: Almost every sector is expected to adopt Web3.0 blockchain.
Top executives and decision-makers see potential in the highly transparent nature of a decentralized Web3.0, where all transactions are recorded and registered and can be easily traced. On the other hand, developers and IT teams invest in Web3.0 due to the strengths of its rapidly developing technology.
Continue reading: https://www.techrepublic.com/article/web-blockchain-technology-market/
