The Web3 in E-Commerce & Retail Market is predicted to increase at a CAGR of 45.80% from USD 4.2 billion in 2022 to USD 55.32 billion by 2032. The increasing acceptance of blockchain technology and cryptocurrencies, the advent of decentralized entertainment platforms, and the growing demand for fan interaction and ownership are driving this expansion. Decentralization, ownership and control, tokenization of assets, smart contracts, NFTs (non-fungible tokens), improved supply chain management, community and social commerce, cross-border commerce, data monetization, innovation and competition, sustainability, are the key market drivers enhancing the market growth.
Figure 1: Web3 in E-Commerce & Retail Market Size, 2024-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Improved supply chain management is a crucial driver in the rapidly evolving landscape of business and commerce. In an era marked by globalization, changing consumer preferences, and technological advancements, optimizing supply chains has become a strategic imperative for organizations aiming to stay competitive and responsive to market demands.
Efficiency gains are one of the main advantages of enhanced supply chain management. Businesses are continually seeking ways to streamline operations, reduce lead times, and minimize waste. By optimizing the supply chain, companies can achieve these goals and significantly cut costs. This efficiency can be achieved through better inventory management, demand forecasting, and the elimination of bottlenecks and redundancies in the supply chain.
In today's interconnected world, consumers and stakeholders demand transparency in supply chains. Improved supply chain management technologies, such as blockchain, provide end-to-end visibility by recording every transaction and movement of goods. This transparency builds trust among consumers, as they can trace the origin and journey of products, ensuring authenticity and ethical sourcing. Furthermore, businesses can proactively address any issues, such as product recalls or disruptions, by identifying the source quickly.
Moreover, Just-in-time (JIT) inventory management is a concept that has been significantly enhanced through improved supply chain management. With precise demand forecasting and real-time data analysis, businesses can maintain minimal inventory levels while ensuring that products are available when needed. This minimizes carrying costs and reduces the risk of overstocking or stockouts.
Furthermore, Today's market dynamics are characterized by rapid changes and unexpected disruptions. Businesses with well-optimized supply chains are better equipped to respond swiftly to unforeseen events, such as natural disasters or supply chain interruptions. By diversifying suppliers, employing alternative transportation methods, and having contingency plans in place, organizations can maintain their operations and customer satisfaction even in challenging circumstances.
Improved supply chain management is driving sustainability initiatives across industries. Businesses are increasingly focused on reducing their environmental footprint by optimizing transportation routes, reducing packaging waste, and sourcing materials responsibly. Sustainability not only aligns with consumers' values but also often leads to cost savings and positive brand reputation.
Supply chain management is benefiting from advancements in technology, such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning. These technologies enable predictive maintenance for equipment, real-time tracking of shipments, and autonomous decision-making processes. Automation, in particular, reduces the risk of human error and frees up human resources for more strategic tasks. Also, In an age of e-commerce and digital transformation, customer-centricity is paramount. Improved supply chain management allows businesses to tailor their operations to meet specific customer demands, whether it's offering multiple delivery options, customization, or personalized recommendations based on purchase history and preferences. Thus, driving the Web3 in E-Commerce & Retail market revenue.
The global Web3 in E-Commerce & Retail market segmentation, based on type includes Public, Private, Consortium, and Hybrid. The hybrid segment dominated the market, accounting for 41.45% of market revenue. For many e-commerce and retail businesses, data privacy and confidentiality are paramount. Hybrid blockchains enable them to keep sensitive customer and transaction data private by storing it on a private or consortium blockchain, while still benefiting from the security and transparency of a public blockchain for other aspects of their operations.
Figure 2: Web3 E-Commerce & Retail Market, by type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The global Web3 in E-Commerce & Retail market segmentation, based on Application, includes Cryptocurrency, Conversational AI, Data & Transaction Storage, Payments, Smart Contracts, Others. Web3 payments rely on blockchain technology, which is known for its security features. Transactions are cryptographically secured, and the decentralized nature of blockchain reduces the risk of fraud and unauthorized access. This heightened security is a significant driver for businesses and consumers alike, as it builds trust in online payment processes.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Web3 in E-Commerce & Retail Market dominated this market in 2022 (45.80%). North America, particularly the United States, has a large population of tech-savvy consumers and businesses. This population is more likely to adopt and experiment with new technologies, making it an ideal environment for the growth of Web3 in e-commerce and retail. Further, the U.S. Web3 in E-Commerce & Retail market held the largest market share, and the Canada Web3 in E-Commerce & Retail market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: WEB3 IN E-COMMERCE & RETAIL MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Web3 in E-Commerce & Retail market accounts for the second-largest market share. Europe is investing in digital identity initiatives, which align well with Web3 technologies that allow users to have greater control over their digital identities. This can enhance security and trust in e-commerce transactions. Further, the German Web3 in E-Commerce & Retail market held the largest market share, and the UK Web3 in E-Commerce & Retail market was the fastest growing market in the European region.
The Asia-Pacific Web3 in E-Commerce & Retail Market is expected to grow at the fastest CAGR from 2023 to 2032. The region has a mobile-first approach to technology, which aligns with the user-centric and mobile-friendly nature of Web3 applications and wallets. This makes it easier for consumers to access and use Web3 services. Moreover, China’s Web3 in E-Commerce & Retail market held the largest market share, and the Indian Web3 in E-Commerce & Retail market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Web3 in E-Commerce & Retail market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Web3 in E-Commerce & Retail industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Web3 in E-Commerce & Retail industry to benefit clients and increase the market sector. In recent years, the Web3 in E-Commerce & Retail industry has offered some of the most significant advantages to medicine. Major players in the Web3 in E-Commerce & Retail market, including Filecoin, Web3 Foundation, Zel Technologies Limited, Livepeer Inc, Brunswick Corporation, Helium Systems Inc, Kusama, Polygon Technology, Kadena LLC, Ocean Protocol Foundation Ltd, others, are attempting to increase market demand by investing in research and development operations.
Reliable and secure data storage is provided via the Filecoin decentralized storage network. It is based on the IPFS system, which stores data decentralized from any one server or central authority via content addressing. Filecoin miners earn Filecoin (FIL) tokens in return for providing the network with storage space. When compared to traditional centralized storage options, Filecoin offers a number of advantages. Data is not stored on a single server that might be hacked or shut down, making it safer from the start. Data is replicated across many network nodes, enhancing its dependability. Thirdly, it is more economical because customers only pay for the storage they actually use.
Founded in 1845, the American company formerly known as the Brunswick-Balke-Collender Company, now operates under the name Brunswick Corporation. Over the years, Brunswick has gained a reputation for its extensive portfolio of product development, manufacturing, and distribution. With a global presence spanning 24 countries, Brunswick currently employs more than 13,000 individuals. Within its diverse array of offerings, Brunswick owns and manages several renowned boating brands, including Sea Ray, Boston Whaler, Bayliner, Mercury Marine, Attwood, Lund, Crestliner, Mastervolt, MotorGuide, Harris Pontoons, Freedom Boat Club, Princecraft, Heyday, Lowe, Uttern, Quicksilver, and CZone. In June 2019, BRUNSWICK Company forged a partnership agreement with VIR zoom, marking a significant milestone. The collaboration aimed to introduce a revolutionary product known as the VIR zoom solution. This innovative endeavor was set to enhance the user experience of Life Fitness' se3 explore bikes, turning them into immersive virtual reality experiences, provided the collaboration was executed successfully.
Filecoin
Web3 Foundation
Zel Technologies Limited
Livepeer Inc
Brunswick Corporation
Helium Systems Inc
Kusama
Polygon Technology
Kadena LLC
Ocean Protocol Foundation Ltd
Public
Private
Consortium
Hybrid
Cryptocurrency
Conversational AI
Data & Transaction Storage
Payments
Smart Contracts
Others
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 4.2 Billion |
| Market Size 2023 | USD 6.25 Billion |
| Market Size 2032 | USD 55.32 Billion |
| Compound Annual Growth Rate (CAGR) | 45.80% (2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Filecoin, Web3 Foundation, Zel Technologies Limited, Livepeer Inc, Brunswick Corporation, Helium Systems Inc, Kusama, Polygon Technology, Kadena LLC, Ocean Protocol Foundation Ltd, others |
| Key Market Opportunities | Increased Adoption of Blockchain and Cryptocurrencies |
| Key Market Dynamics | The DeFi (Decentralized Finance) and NFT (Non-Fungible Token) traction in Web3 |
Web3 in E-Commerce Retail Market Highlights:
Frequently Asked Questions (FAQ) :
The global Web3 in E-Commerce & Retail market size was valued at USD 4.2 Billion in 2022.
The global market is projected to grow at a CAGR of 45.80% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Filecoin, Web3 Foundation, Zel Technologies Limited, Livepeer Inc, Brunswick Corporation, Helium Systems Inc, Kusama, Polygon Technology, Kadena LLC, Ocean Protocol Foundation Ltd, others.
The Hybrid category dominated the market in 2022.
The payments had the largest share in the global market.
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Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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