Key Players Web3 Foundation, Polygon Technology, Helium & More Driver 42.1% YoY Growth

Dublin, Dec. 21, 2022 (GLOBE NEWSWIRE) — “LAMEA Web 3.0 Blockchain Market Size, Share & Industry Trends Analysis Report by Application, Blockchain Type, End-use (BFSI, IT & Telecom, Media & Entertainment, Retail & E- trade, pharmaceuticals), countries and growth forecast, 2022-2028” report has been added ResearchAndMarkets.com’s Offering.

The Latin America, Middle East and Africa Web 3.0 Blockchain market should witness a market growth of 42.1% CAGR during the forecast period (2022-2028).

The fundamental goal of Web 3.0 is to transform the Internet into a more intelligent place. This next era of the web would make the internet more reactive, adaptable and able to provide the user with a more enjoyable and individualized experience. It will completely revolutionize how the user now knows and uses the Internet. To understand the potential changes that Web 3.0 can bring, one must be familiar with Web 3.0’s four main pillars/functions:

One of the most prominent features of Web 3.0 will be its ability to interpret human emotions and ideas. AI will be widely used to filter information and content and adapt search results to the user’s preferences. Simulation of human intelligence processes by machines, primarily computer systems, is known as artificial intelligence. Specific AI applications include intelligent machines, speech recognition for natural language processing, and machine vision.

As the AI ​​craze grew, companies sought to demonstrate how their products and services incorporate AI. Usually, what is referred to as artificial intelligence is a subset of artificial intelligence, such as machine learning. AI requires a foundation of specialized hardware and software to develop and train machine learning algorithms.

The presence of growing nations and businesses in the region is driving the demand for the WEB 3.0 blockchain market. In addition, medium and large enterprises are increasingly using distributed ledgers to improve their revenue opportunities. In addition, growing awareness of blockchain technology across multiple industries is fueling growth.

Benefits such as reduced risk of data fraud and increased efficiency make blockchain technology popular and essential. Moreover, the incorporation of the Internet of Things (IoT) with blockchain technology is projected to accelerate the regional BaaS market expansion.

The Brazil market dominated the LAMEA Web 3.0 Blockchain Market by country in 2021, and would continue to be a dominant market until 2028; thereby achieving a market value of $206.3 million by 2028. The Argentina market exhibits a CAGR of 42.9% during (2022-2028). Additionally, the UAE market will register a CAGR of 41.7% during (2022-2028).

Based on application, the market is segmented into cryptocurrency, smart contracts, payments, data and transaction storage, conversational AI, and others. Based on Blockchain Type, the market is segmented into Public, Private, Consortium and Hybrid. Based on end use, the market is segmented into BFSI, IT & Telecom, Media & Entertainment, Retail & E-commerce, Pharmaceuticals and others. Based on country, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria and Rest of LAMEA.

The market research report covers the analysis of key stakeholders in the market. Key companies profiled in the report include Web3 Foundation (Polkadot), Polygon technology, Protocol Labs (Filecoin), Alchemy Insights, Inc., Helium, Inc., Ocean Protocol Foundation Ltd., Kusama Network, Kadena LLC and Terraform Labs Pte. Ltd.

Scope of the study
Upon application

By blockchain type

• Public

• Private

• Consortium

• Hybrid

At end use

• BFSI

• IT and telecom

• Media and entertainment

• Retail and e-commerce

• Medicines

• Others

By country

• Brazil

• Argentina

• UAE

• Saudi Arabia

• South Africa

• Nigeria

• The rest of LAMEA

Important market players
List of companies profiled in the report:

Key topics covered:

Chapter 1. Market scope and methodology

Chapter 2. Market overview

Chapter 3. Strategies Implemented in Web 3.0 Blockchain Market

Chapter 4. LAMEA Web 3.0 Blockchain Market by Application

Chapter 5. LAMEA Web 3.0 Blockchain Market by Blockchain Type

Chapter 6. LAMEA Web 3.0 Blockchain Market by End Use

Chapter 7. LAMEA Web 3.0 Blockchain Market by Country

Chapter 8. Company profiles

For more information on this report visit https://www.researchandmarkets.com/r/4c9s10

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