Dublin, December 21, 2022 (GLOBE NEWSWIRE) — The report “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-Commerce, Pharmaceuticals), Country and Growth Forecast, 2022-2028” added the report to researchandmarkets.com offering.

The Latin America, Middle East and Africa Blockchain Web 3.0 market is expected to 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 smarter place. This next era of the web would make the Internet more reactive, adaptable, and capable of providing a more rewarding and individualized user experience. It will completely revolutionize the way in which the user now knows and uses the Internet. To understand the potential changes that Web 3.0 can bring, one must be familiar with the four main pillars/characteristics of Web 3.0:

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 customize search results based on user preferences. The simulation of human intelligence processes by machines, mainly computer systems, is known as artificial intelligence. Specific AI applications include intelligent machines, natural language processing, speech recognition, and computer vision.

As the AI ​​craze grew, companies were quick to demonstrate how their products and services include AI. What is known as artificial intelligence is usually 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 companies in the region is driving the market demand for WEB 3.0 blockchain. Additionally, midsize and large businesses are increasingly using distributed ledgers to enhance their revenue opportunities. Additionally, the growing awareness of blockchain technology across multiple industries is fueling growth.

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

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; therefore, achieving a market value of $206.3 million by 2028. The Argentine market shows a CAGR of 42.9% during (2022-2028). Furthermore, the UAE market would register a CAGR of 41.7% during (2022-2028).

According to the app, the market is segmented into cryptocurrencies, smart contracts, payments, data storage and transactions, conversational AI, and others. Based on the type of blockchain, 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 Other. According to the countries, the market is segmented into Brazil, Argentina, the United Arab Emirates, Saudi Arabia, South Africa, Nigeria and the rest of LAMEA.

The market research report covers the analysis of the key stakeholders of the market. Key companies outlined 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. Limited.

Scope of the study
by application

By Blockchain Type

• Public

• Private

• Consortium

• Hybrid

By end use

• BFSI

• IT and telecom

• media and entertainment

• Retail and eCommerce

• pharmaceutical products

• Others

For country

• Brazil

• Argentina

• United Arab Emirates

• Saudi Arabia

• South Africa

• Nigeria

• Rest of LAMEA

Key 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, please visit https://www.researchandmarkets.com/r/4c9s10

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900