TECH SUPPLIER Feb 2023 - Market Presentation - Doc # US49241722

IDC Market Glance: Web3, 4Q22


Phillip Silitschanu
On-line Presentation


This IDC Market Glance examines Web3.

The following is IDC's definition of Web3:

  • Web3 is a collection of open technologies and protocols to support the natively trusted use and storage of decentralized data, knowledge, and value.
  • Web3 is the next iteration of WWW, based on blockchain, and decentralizes storage, computation, and ownership.
  • For larger enterprises, blockchain automates business processes with embedded governance and compliance, enabling new business models.
  • End users and smaller enterprises experience greater privacy and have control of their own data.
  • Keep in view that Web3 is unlikely to overtake Web 2.0 for at least the next three to five years. Blockchain opportunities are more immediate as larger players look to establish industry protocols and platforms.
  • It will potentially have a huge impact in the long term, and the first movers in blockchain will define the platforms and protocols that followers will have to adapt to.
  • The blockchain solutions market is estimated at $6.6 billion. IDC expects a 48% CAGR for the 2019-2024 period. Web3 adoption is very limited at present.


Subscriptions Covered

Worldwide Blockchain, Crypto, NFT, and Web3 Strategies

Companies Covered

Quoine Pte. Ltd., DefineX Danismanlik AS, Polkascan Foundation, SuperRare Labs, Symbolic Software, Bybit Fintech Limited, Bitcoin Depot, Bitstamp Ltd., Ethereum Name Service, Streamr Network AG, Bitwise Asset Management Inc., Bithumb Korea Co. Ltd., Chainsafe Systems Inc., Gunclear, Tools for Humanity Corp, Wintermute Trading Ltd., Animoca Brands Corp. Ltd., SBorg SA, Avado Inc., NGrave.IO NV, USETECH, Chorus One AG, ImToken Pte Ltd, Bittrex Inc., Qubit9 GmbH, Stacktical , Polkastats Team, Chia Network, Matter Labs, Sia, HOPR Association, OARO, Laminar, Pantera Capital Management LP, Blockchain Foundry Inc., KuCoin, Copper Technologies (Switzerland) AG, Blockdaemon Inc., Airgap Networks Inc., A Labs Ltd., EthWorks sp.z.o.o., Lunie International Software Systems Inc., KPMG International, Offchain Labs Inc., Finoa GmbH, Candy Digital Inc., Huobi Technology Holdings Limited, Protos Asset Management GmbH, Newton Investment Management Group, Rarible Inc., Gemini Trust Company LLC, Bitcipher Labs LLP, SelfKey Foundation, PricewaterhouseCoopers LLP, Upbit Singapore Pte. Ltd. , Coinsquare Capital Markets Ltd., Kraken, LFG NFTs Corp, Tron Network Ltd., Bitfury Group Ltd., Celo Foundation, Caelum Innovation SL, RECUR Forever Inc, BlockStream Corp., DRB Panama Inc, Litentry Technologies GmbH, Alchemy Insights Inc., GSR Markets Ltd., HDR Global Trading Limited, Gecko Labs Pte. Ltd. , Stellar Development Foundation, ConsenSys Inc., BitFlyer USA Inc., Nodle International, Infosys Limited, Entropy Labs Ltd., Energi, Tangany GmbH, WiV Technology, Genesis Digital Assets Ltd., BIFROST, Connectivity-Labs LLC, Galactic Council, Figment Inc, Sygnum Bank AG, 11:FS, Bloq Inc., Localcoin , Shenzhen MicroBT Electronics Technology Co. Ltd., Aux Cayes FinTech Co. Ltd., Amber Global Ltd., StarkWare Ltd., Messari Inc., New York Digital Investment Group LLC, FalconX Ltd., Ava Labs, Inc., Digital Currency Group Inc., Ledger SAS, Ripple Labs Inc., VOODOO SAS, Coin Metrics Inc., IOTA Foundation, Chronicled, Inc., MIT Sloan School of Management, Filecoin, CSG Forte Payments Inc., OKCoin Inc., Handshake Corp., Xclaim Inc., Encointer, GREEN BITS INC., Ribbit Capital LP, Trulioo Information Services Inc., Fireblocks Inc., Wirex Ltd., Acala Foundation, AH Capital Management LLC, Dock Labs AG, Audius, Inc., Sorare, Uphold HQ Inc., Octopus Network, Bitso, Mythical Inc., Chainlink Labs Ltd., BlockFi Inc., Advanca Technologies, Amazon Web Services Inc., Nuri GmbH, NEAR Foundation, 21Shares AG, Subsocial Team, IOV LABS Ltd., Swisscom Ltd., Sky Mavis Pte Ltd, Foris DAX Global Ltd., Crystal Blockchain B.V., Protocol Labs, Inc., Soramitsu Co Ltd, CoinFlip, BVoucher Limited, Wootech Ltd, Republic Crypto LLC , Minimum Spanning Technologies Ltd., Runtime Verification Inc., Chainalysis Inc., Ocean Protocol Foundation Ltd., TaxBit, Inc., Moon Pay Pte Ltd, Mercado Bitcoin Servicos Digitais LTDA, Anchor Labs Inc., Sweepsteaks Limited, Freelance Labs, Inc., Unstoppable Domains Inc., Lugus Labs, HashKey Digital Asset Group Limited, Celer Network, IBM, iFinex Inc., Parity Technologies Ltd., BlockX Labs, Paxful Inc., Bullish Global, Wipro Limited, Dapper Labs Inc., Circle Internet Financial LLC, Decentralized Security AG, Figure Lending LLC, Autonomous Worlds Ltd., Inc, Amalgamated Token Services Inc., Lyken Software Solutions SRL, Mycelium, NEXO S.A., Zondax AG, Paxos Trust Company, LLC, Defi Payments Pte Ltd, Immutable Pty Ltd , Gnosis Limited, Avara UI Labs Ltd., FTX Trading Ltd.,, DFINITY Foundation , Binance Ltd., Beijing Bitmain Technologies Co., Ltd., Polygon Technology, StaFi Protocol, Node Factory d.o.o., Edgevana Inc. , Obsidian Labs, Blockchain Capital LLC , BitGo Inc., Second State, Speckle OS , Paradigm Operations LP, Mixbytes, Shakepay Incorporated, Itering Tech Pte Ltd, Kadena LLC, OpenSea, Sequoia Capital Operations LLC, Reflective Technologies Inc., Coinbase Inc.,, BOTLabs GmbH, Ernst & Young Global Limited, LMAX Group, Cake, Matrixport Technologies Ltd., Simply VC, Pixura, Inc., Chain Inc.

Regions Covered


Topics Covered


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