Blockchain Messaging Apps Market to be Worth $536.5 Million by 2030: Grand View Research, Inc.
SAN FRANCISCO, Feb. 1, 2023 /PRNewswire/ -- 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, according to a new study conducted by Grand View Research, Inc. The rising demand for data privacy and increasing advancements in Web 3.0 across the globe is anticipated to drive market growth. For instance, according to the Electric Capital Developer Report 2021, more than 18,416 monthly active Web3 developers are working on open-source crypto and Web 3.0 projects.
Key Industry Insights & Findings from the report:
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.
Read 150-page market research report, "Blockchain Messaging Apps Market Size, Share & Trends Analysis Report By Operating System (Android, iOS), By Application (Message, Payment), By End-user, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Blockchain Messaging Apps Market Growth & Trends
The rapid rise in access to the internet and frequent development in internet speed with the deployment of the 5G and 6G technologies are further expected to fuel the market's growth. For instance, according to DataReportal 2022, around 5.07 billion people worldwide have access to and use the internet, equivalent to almost 63.5% of the total world's population. Furthermore, the inadequate security offered by traditional messaging platforms is expected to create demand for blockchain messaging apps owing to their high-security feature.
Furthermore, the increasing advancements in decentralized messaging applications, such as the addition of features, including crypto wallet and payments, among others is expected to drive the market's growth. For instance, in April 2022, a blockchain-based decentralized computer network technology designed by Telegram known as Open Network (TON) announced the addition of a bot. With this addition of bot, Telegram enabled its users to send cryptocurrency to other users through chat.
The global COVID-19 outbreak has been favorable to market growth. The growing use of social media and the internet during the COVID-19 pandemic created immense opportunities for the market to grow in future years. Moreover, the increasing awareness among users about the exploitation of privacy has resulted in a growing demand for alternative messaging platforms, such as blockchain chatting apps.
Blockchain Messaging Apps Market Segmentation
For this study, Grand View Research has segmented the global blockchain messaging apps market based on operating system, application, end-user, and region
Blockchain Messaging Apps Market - Operating System Outlook (Revenue, USD Million, 2019 - 2030)
Blockchain Messaging Apps Market - Application Outlook (Revenue, USD Million, 2019 - 2030)
Blockchain Messaging Apps Market - End-user Outlook (Revenue, USD Million, 2019 - 2030)
Blockchain Messaging Apps Market - Regional Outlook (Revenue, USD Million, 2019 - 2030)
Middle East & Africa
List of Key Players of the Blockchain Messaging Apps Market
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Browse through Grand View Research's Next Generation Technologies Industry Research Reports.
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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SOURCE Grand View Research, Inc.