Non-fungible Token (NFT) Market to Unlock Opportunities Worth $211.72 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, 21 July 2022 /PRNewswire/ — The global non-fungible token market size is expected to be total USD 211.72 billion by 2030, witness growth at a CAGR of 33.9% from 2022 to 2030 according to a new report by Grand View Research, Inc. Increasing popularity of digital artwork across the world is the key factor driving the market growth. Like other sectors, the ongoing technological advances have flourished the art world. With the help of these technologies, the art is created or displayed, which is called digital art. This art is gaining immense prominence in today’s fast-paced world, which has positively influenced the NFT market to grow at a rapid pace.

Important industry insights and findings from the report:

• By 2021, based on type, the digital asset has accounted for a maximum market revenue share of more than 71% of the total market. The growth is attributed to the growing demand for NFTs for the safety and security of digital assets worldwide.
• The physical asset segment emerges as the second largest segment which is estimated to show a lucrative growth rate during the forecast period.
• The collectibles segment accounted for over 53% of the total market revenue share of the total market in 2021.
• Based on the application, the sports segment is estimated to increase the market revenue during the forecast period. NFT creates opportunities for athletes to promote their names and engage in human interaction.
• The personal segment dominated the non-fungible token (NFT) market in 2021, accounting for more than 61.0% of global revenue.
• Owing to the growing demand for NFTs for supply chain and logistics innovations, the commercial segment is expected to expand at the largest CAGR during the forecast period.
• North America accounted for a maximum revenue share of 31% of the total market in 2021.
• The market in Asia Pacific is expected to show growth at the highest CAGR during the forecast period owing to the increasing adoption of cryptocurrency across the region.

Read 150 page full market research report for more latest industry insights, “Non-Fungible Token Market Size, Share and Trend Analysis Report by Type (Physical Asset, Digital Asset), By Application (Collectibles, Art, Games), By End Use, By Region and Segment Forecasts, 2022-2030 “

Non-Fungible Token Market Growth and Trends

Furthermore, the growing inclination towards the use of cryptocurrency throughout the world is booming the market. Cryptocurrency is rising to become the largest economy in the world and changing the face of global capitalization. Therefore, the key companies operating in the market are increasing their investments and financing towards NFT.

The COVID-19 outbreak has favored the market. The strict lockdown restrictions made the population explore the digital world. Moreover, it has affected the economic system of the world due to recession and work stoppage in various sectors. However, due to digital platforms, people found ways to make money online. Thus, this took NFT-based platforms and apps to a new level, creating opportunities for market expansion.

Non-Fungible Token Market Segmentation

Grand View Research has segmented the global non-fungible token market based on type, application, end-use and region:

Type Outlook (Revenue, USD Billion, 2018-2030)

• Physical asset
• Digital resource

Application Outlook (Revenue, USD Billion, 2018-2030)

• Collectibles
• Video clips
• Sound clips
• Gamification
• Second
• Art
• Pixel Art
• Fractal/algorithmic art
• Computer generated painting
• 2D/3D painting
• 2D/3D computer graphics
• GIFs
• Second
• Gaming
• Trading Card Game (TCG)
• Video games
• Strategy role-playing game (RPG)
• Second
• Tool
• Tickets
• Domain name
• Assets Ownership
• Metaverse
• Sport
• Second

End-Use Outlook (Revenue, USD Billion, 2018-2030)

Regional Outlook (Revenue, USD Billion, 2018-2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Brazil
• Mexico
• Middle East & Africa

List of key players in the non-fungible tokens (NFT) market.

• YellowHeart, LLC.
• Cloudflare, Inc.
• PLBY Group, Inc.
• Dolphin Entertainment, Inc.
• Funko
• Ozone Networks, Inc.
• Takung Art Co., Ltd.
• Dapper Labs, Inc.
• Gemini Trust Company, LLC.
• Onchain Labs, Inc.

Check out more related studies published by Grand View Research:

• AI in the media and entertainment market – The global artificial intelligence in media and entertainment market is expected to reach USD 99.48 billion by 2030, according to a new report from Grand View Research, Inc. The market is expected to expand at a CAGR of 26.9% from 2022 to 2030. The growing popularity of virtual creation in the media and entertainment industry, and its ability to create high-res graphics and real-time virtual worlds, drive the market forward. Artificial intelligence (AI) helps media companies leverage these benefits by improving content management across different stages of the content workflow, including smart content analysis and categorization, automatic image tagging, scalable personalization and predictions, time-saving content creation assistance, and text intelligence and -analysis, and voice-controlled platforms.
• Virtual Reality in the gaming market – The global virtual reality in gaming market size is expected to reach USD 92.31 billion by 2027, expanding at a CAGR of 30.2% over the forecast period, according to a new report by Grand View Research, Inc. The growing demand for technologically progressive electronic games among millennials is expected to drive market growth from 2020 to 2027.
• The asset management market – The global asset management market is expected to reach USD 1,292.17 billion by 2027, according to a new study conducted by Grand View Research, Inc. The market is expected to register a CAGR of 25.9% from 2020 to 2027. The factors driving the growth include the growing need to reduce equipment downtime and ensure optimal utilization of available resources. Advances in the latest technologies, such as Artificial Intelligence (AI), Internet of Things (IoT) and automation of infrastructure, coupled with continued integration of analytical and business intelligence tools in asset management solutions are also expected to drive market growth. The growing awareness of the benefits of IoT-based asset management solutions bodes particularly well for the growth of the market.

Browse Grand View Research The next generation technology industry Research reports.

About Grand View Research

Grand View Research, a US-based market research and consulting company, offers syndicated as well as custom research reports and consulting services. Registered in California and has its headquarters in San Francisco, the company consists of over 425 analysts and consultants, adding more than 1,200 market research reports to its vast database each year. These reports offer in-depth analysis of 46 industries in 25 major countries worldwide. Using 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 ahead.

Consult:
Sherry James
Business Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Internet: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow us: LinkedIn | Twitter

Logo:

SOURCE Grand View Research, Inc.