Over the past three decades, the web has rapidly advanced. The web has come a long way since the early days of web 1.0, when it was mostly used for text-based information sharing, to today’s 3.0, which enables people to share and interact via audio, video, and images. The third generation of the web, also called Web 3.0 or Web3, will enable apps and websites to process information using cutting-edge technologies like big data, machine learning, and decentralized ledger technology. The technology’s ultimate goal is to create more intelligent, user-friendly, connected, and open websites. Blockchain technology, which combines ideas like token-based economies and decentralization, is the foundation of Web 3.0. Gavin Wood, the co-founder of Ethereum, first used the term “web 3.0” in 2014, large technology companies, venture capital firms, and cryptocurrency enthusiasts started to take notice of the concept in 2021. Despite being in its infancy, web 3.0 is gaining ground thanks to the growing acceptance of cryptocurrencies and blockchain technologies.
Compared to Web 1.0 and 2.0, Web 3.0 offers improved data security, privacy, and more human-like interaction. The ability of end users to fully own their data and select which information they want to share with other businesses is one of the main benefits of web 3.0 technology. Additionally, integrating web 3 with smart IoT devices can enhance the latter’s functionality and performance. The best web 3 services company has fewer middlemen, more transparency for B2B companies, and better marketing strategies for sellers.
The global web 3.0 market is anticipated to reach USD 81.5 billion in 2030 and register a strong revenue CAGR of 43.7 percent during the forecast period, according to the most recent report released by Emergen Research. Global market growth is anticipated to be fueled by factors like the quick development of blockchain technologies, the high demand for web 3.0 services in a variety of industries, including BFSI, e-commerce and retail, media & entertainment, IT & telecom, along with healthcare, and the intense focus on the release of web3 apps and wallets. However, several important factors can limit overall market growth over the forecast period, including a lack of well-developed infrastructure for deploying web 3.0 technology, a lack of IT expertise, growing data security concerns, and low user awareness of web 3.0.
World’s Prominent Companies in the Web 3.0 Market: Top 10 By Revenue
- Helium Systems, Inc.
- Coinbase Global, Inc.
- Polygon Technology
- ConsenSys
- CoinSwitch Kuber
- Alchemy Insights, Inc.
- Web3 Foundation
- Brave Software, Inc.
- Biconomy
- Huddle01
World’s Top 10 Leading Companies leading the Web 3.0 Market
Helium Systems, Inc. – [Revenue US$19 Billion]
Internet of Things developer Helium is based in the US and specializes in network development and data transformation for IoT devices. It offers resources and methods for creating sizable, affordable wireless infrastructures powered by blockchain technology.
Coinbase Global, Inc. – [Revenue US$7.84 Billion]
One of the biggest cryptocurrency exchange platforms in the US is Coinbase Global, Inc., also known as Coinbase, a US-based company that runs cryptocurrency exchange platforms. It provides a safe online marketplace where cryptocurrency can be purchased, stored, changed, and sold. A web 3.0 social marketplace for non-fungible tokens was introduced in beta by Coinbase in April 2022. Beta testers should be able to create Coinbase NFT profiles on the exchange to buy or sell NFTs. Coinbase announced the launch of web3 mobile DApps (decentralized applications) and DeFi wallets through the Coinbase app later in May 2022.
Polygon Technology– [Revenue US$436.3 Million]
Leading decentralized Ethereum scaling platform creator Polygon Technology is based in India. It specializes in providing blockchain networks to different businesses by creating user-friendly dApps with the lowest transaction costs. To promote widespread adoption of web3, Polygon introduced a novel network for web3 development in May 2022.
ConsenSys – [Revenue US$52 Million]
In New York City, ConsenSys is a US-based blockchain software technology company that provides various tools and services for blockchain users and applications. The business’s primary objectives are creating cutting-edge applications, contemporary financial infrastructure, and decentralized web changes.
CoinSwitch Kuber – [Revenue US$50 Million]
India’s leading and most reliable cryptocurrency platform is called CoinSwitch Kuber. There is no lock-in period, allowing users to buy, trade, and sell their preferred cryptocurrency from the coins listed. The Web3 accelerator will support blockchain developers and entrepreneurs by showcasing blockchain solutions across entertainment, tooling, fintech, logistics, agritech, and healthcare, according to a December 2021 announcement from CoinSwitch Kuber, Lumos Lab, and the government of Telangana.
Web3 Foundation – [Revenue US$6.9 Million]
To protect the decentralization and stability of the web3 ecosystem, the Web3 Foundation, an information and technology company with its headquarters in Zig, Switzerland, nurtures cutting-edge applications for decentralized web software protocols. The company provides funding, advocacy, research, and collaboration to web 3.0 teams and open source projects. Polkadot and Kusama are just two protocols developed by the Web3 Foundation that offer a stable and secure environment for cross-chain composability.
Alchemy Insights, Inc. – [Revenue US$3 Million]
The US-based web3 developer Alchemy Insights, Inc. provides software solutions, infrastructure, and developer tools to assist businesses in creating dependable decentralized applications. The business offers a blockchain platform that powers millions of users in 197 countries worldwide. Alchemy introduced a $25 million grant program for web 3 projects in July 2022 to support the growing utility of NFTs and make DeFi available to businesses, institutions, and at-home traders.
Brave Software, Inc. – [Revenue US$2.51 Million]
Located in the US, Brave Software, Inc. provides a free and open-source web browser. Brave is one of the few web browsers supporting Web 3.0, which complies with this newer technology. The company wants to open up web 3.0 to everyone. In order to improve and widen web3 access, the Brave browser recently announced its integration with the Solana blockchain. Users will be able to explore web 3.0 with this partnership thanks to lower transaction costs and faster processing times than Ethereum networks.
Biconomy – [Revenue US$1.5 Million]
Biconomy is a platform for developers that provides the Best blockchain technology company with suitable solutions for streamlining transaction and onboarding processes on web 3.0. The ability to operate across multiple blockchains and incorporate decentralized payment gateway services provides a cross-chain transaction process. To advance and promote web 3.0, Biconomy announced its partnership with WazriX, a major cryptocurrency exchange platform in India, in February 2022.
Huddle01 – [Revenue US$0.5 Million]
A decentralized video conferencing platform called Huddle was created to do away with centralized servers from video calls. Web3 technology powers the software, which enables peer-to-peer communication through video calls, video conferencing, and real-time auto and video SDKs. Additionally, this platform offers web3-enhanced functions like NFTs, token-gating, decentralized live streaming, and decentralized meeting recording storage. This platform aims to provide smooth video calling while safeguarding user identities and online presence.
