Emerging Trends and Growth Opportunities in the Blockchain-oriented Services Industry: 2023-2030 Market Research Report

 Blockchain-oriented services Industry Data Book | Forecast 2030

Blockchain-oriented services Industry Data Book - Decentralized Finance, Blockchain Messaging Apps, Decentralized Identity, Non-fungible Token, Web 3.0 Blockchain Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030

Grand View Research’s blockchain-oriented services industry databook is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Access the Global Blockchain-oriented services Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

 

Decentralized Finance Market Report Highlights

The global decentralized finance market size is expected to reach USD 231.19 billion by 2030, expanding at a CAGR of 46.0% from 2023 to 2030

• The smart contracts segment is anticipated to witness significant growth over the forecast period. Decentralized contracts offer a range of benefits, including transparency, which is inherent in the nature of blockchain technology. Smart contracts, being an integral part of the blockchain, operate with built-in enforcement mechanisms where every transaction and action is recorded and accessible to the public

 

• The payments segment is expected to witness the fastest growth over the forecast period. The growth of DeFi can be attributed to its disintermediation feature, which effectively reduces payment transaction costs

 

• The Asia Pacific regional market is anticipated to witness the fastest growth over the forecast perioddue to its large and tech-savvy population, supportive regulatory frameworks, and established financial centers. These factors create a conducive environment for the region's growth and adoption of DeFi solutions

 

Order your copy of the Free Sample of “Blockchain-oriented services Industry Data Book - Decentralized Finance, Blockchain Messaging Apps, Decentralized Identity, Non-fungible Token, Web 3.0 Blockchain Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030”, Data Book published by Grand View Research

 

Blockchain Messaging Apps Market Report Highlights

 

The global blockchain messaging apps market size is expected to reach USD 536.5 million by 2030, growing at a CAGR of 43.6% from 2022 to 2030

 

• The android segment dominated the market in 2021. Android is a cost-effective and high-functionality operating system preferred by individuals, contributing to the segment’s growth

 

• The message segment dominated the market in 2021. The rising demand for secured and decentralized blockchain-based messaging apps from businesses and individuals is expected to drive the growth of the segment during the forecast period

 

• The individual segment is expected to emerge as the fastest-growing segment during the forecast period. The growth of the segment is attributed to the growing popularity of cryptocurrency and features such as requesting money and transferring cryptocurrency through chat to other contacts

 

• The Asia Pacific regional market is expected to register rapid growth during the forecast period. The increasing digitalization and adoption of new technologies across the region are expected to increase the adoption of blockchain messaging apps

 

Go through the table of content of Blockchain-oriented services Industry Data Book to get a better understanding of the Coverage & Scope of the study

 

Decentralized Identity Market Report Highlights

 

The global decentralized identity market size is expected to reach USD 102.0 billion by 2030, expanding at a CAGR of 90.3% from 2023 to 2030

 

• The biometric segment is anticipated to register the fastest growth rate over the forecast period. The increasing launch of biometric identification platforms by some of the major firms, including, Innovatrics and IDEMIA, is expected to drive the segment

 

• The individual segment is projected to register the fastest growth rate over the forecast period. Decentralized identity is used by individuals owing to benefits such as privacy and security concerns, which is a major factor expected to propel the segment growth

 

• The small and medium enterprises segment is anticipated to emerge as the fastest growing segment over the forecast period. The growth of the segment can be attributed to the growing digitalization across all SMEs worldwide

 

• The BFSI segment dominated the market in 2022. The banking firms adopting decentralized identity solutions to reduce identity fraud is one of the major factors propelling the segment growth

 

• Asia Pacific is projected to register the fastest growth rate over the forecast period. The increasing demand for decentralized identity solutions across the region is anticipated to play a vital role in driving the regional market

 

Non-fungible Token Market Report Highlights

 

The global non-fungible token market size is expected to reach USD 211.72 billion by 2030, growing at a CAGR of 34.2% from 2023 to 2030

 

• In terms of type, the digital asset segment dominated the market in 2022. The demand for art NFTs is growing as they enable artists to track all work transactions. This tracking of transactions helps artists avail perpetual royalty payback benefits on every transaction of their digital art

 

• In terms of application, the collectibles segment dominated the market in 2022. Collectibles have a broad appeal and nostalgic value for many individuals. The concept of owning unique digital items, such as virtual trading cards, digital artwork, or virtual pets, resonates with collectors and enthusiasts who value the rarity and exclusivity of these items

 

• In terms of end use, the commercial segment is expected to experience the fastest growth over the forecast period. The demand for NFTs is growing among businesses to enable improved transactions across a range of application areas

 

• The growing use of cryptocurrency across North American countries such as the U.S. and Canada is expected to create new opportunities for market growth across the region

 

Web 3.0 Blockchain Market Report Highlights

 

The global Web 3.0 blockchain market size is expected to reach USD 33.53 billion by 2030, growing at a CAGR of 47.1% from 2023 to 2030

 

• The public segment dominated the market in 2022. The growth of the segment can be attributed to the increased demand for public blockchain technology owing to the free, secure, and permissionless accessibility to anyone with internet access

 

• The cryptocurrency segment dominated the market in 2022. Enterprises are increasingly in need of high-performance cryptocurrency transaction services. Web 3.0 cryptocurrencies use blockchain and smart contracts to automate transactions and eliminate the need for a third-party entity which is anticipated to support the segment's growth

 

• The retail & e-commerce segment is anticipated to register the fastest growth during the forecast period. Increasing demand for Web 3.0 blockchain in retail & e-commerce owing to benefits such as reduced costs, faster payments, improved security, and increased transparency is expected to fuel the segment's growth

 

• The Asia Pacific is anticipated to witness the fastest growth during the projection period. The increasing advancements in 5G, artificial intelligence, and machine learning is the major factor driving the growth of the Asia Pacific region. Moreover, growing investments in research & development of Web 3.0 is anticipated to aid the growth

 

Competitive Insights

 

The key players in the market are focused on strategies, such as mergers & acquisitions, partnerships, and collaboration to strengthen their market position. For instance, in December 2020, Ripple announced its partnership with Novatti, a fintech and digital payments company based in Australia. This partnership helped Novatti to enable real-time remittance between Asia and Australia. Additionally, they have obtained approvals to launch their products across various countries. In May 2019, Microsoft Corporation launched Azure Blockchain Services. The services helped users in the formation, management, and governance of consortium blockchain networks and allowed businesses to build applications based on the blockchain technology.

 

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About Grand View Research

 

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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