Global Non-fungible Token (NFT) Market 2024-2028

The non-fungible token (NFT) market is forecasted to grow by USD 68.16 bn during 2023-2028, accelerating at a CAGR of 30.23% during the forecast period. The report on the non-fungible token (NFT) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for digital art, growing investments in digital assets, and unique authentication of ownership of digital assets.

Market Scope
Base Year	2023
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	23.27%
CAGR	30.23%
Incremental Value	$68.16bn

Technavio's non-fungible token (NFT) market is segmented as below:

By Application

Collectibles
Sports
Arts
Others

By End-user

Personal
Commercial

By Geographical Landscape

APAC
North America
South America
Europe
Middle East and Africa

This study identifies the growing interest in NFTs among major brands as one of the prime reasons driving the non-fungible token (NFT) market growth during the next few years. Also, emergence of fractionalized NFTs and growing number of strategic initiatives by NFT vendors will lead to sizable demand in the market.

The report on the non-fungible token (NFT) market covers the following areas:

Non-fungible token (NFT) market sizing
Non-fungible token (NFT) market forecast
Non-fungible token (NFT) market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading non-fungible token (NFT) market vendors that include AirNFTs Platform, Asynchronous Art Inc., Binance Holdings Ltd., Blockchain App Factory, Celer Network, Chaincella, Decentraland Foundation, Enjin Pte. Ltd., Foundation Labs Inc., Funko Inc., Gemini Trust Co. LLC, Mintable.app, Ozone Networks Inc., Out The Mud Ventures Inc., Rarible Inc., Sky Mavis, SuperRare Labs Inc., Tiki Labs Inc., Yellowheart LLC, and Axie Infinity. Also, the non-fungible token (NFT) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR73238

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Application
Exhibit 06: Executive Summary - Chart on Market Segmentation by End-user
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global Non-fungible Token (NFT) market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global non-fungible token (nft) market 2018 - 2022 ($ billion)
4.2 Application Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Application Segment 2018 - 2022 ($ billion)
4.3 End-user Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - End-user Segment 2018 - 2022 ($ billion)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Application

6.1 Market segments
Exhibit 30: Chart on Application - Market share 2023-2028 (%)
Exhibit 31: Data Table on Application - Market share 2023-2028 (%)
6.2 Comparison by Application
Exhibit 32: Chart on Comparison by Application
Exhibit 33: Data Table on Comparison by Application
6.3 Collectibles - Market size and forecast 2023-2028
Exhibit 34: Chart on Collectibles - Market size and forecast 2023-2028 ($ billion)
Exhibit 35: Data Table on Collectibles - Market size and forecast 2023-2028 ($ billion)
Exhibit 36: Chart on Collectibles - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Collectibles - Year-over-year growth 2023-2028 (%)
6.4 Sports - Market size and forecast 2023-2028
Exhibit 38: Chart on Sports - Market size and forecast 2023-2028 ($ billion)
Exhibit 39: Data Table on Sports - Market size and forecast 2023-2028 ($ billion)
Exhibit 40: Chart on Sports - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Sports - Year-over-year growth 2023-2028 (%)
6.5 Arts - Market size and forecast 2023-2028
Exhibit 42: Chart on Arts - Market size and forecast 2023-2028 ($ billion)
Exhibit 43: Data Table on Arts - Market size and forecast 2023-2028 ($ billion)
Exhibit 44: Chart on Arts - Year-over-year growth 2023-2028 (%)
Exhibit 45: Data Table on Arts - Year-over-year growth 2023-2028 (%)
6.6 Others - Market size and forecast 2023-2028
Exhibit 46: Chart on Others - Market size and forecast 2023-2028 ($ billion)
Exhibit 47: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
Exhibit 48: Chart on Others - Year-over-year growth 2023-2028 (%)
Exhibit 49: Data Table on Others - Year-over-year growth 2023-2028 (%)
6.7 Market opportunity by Application
Exhibit 50: Market opportunity by Application ($ billion)
Exhibit 51: Data Table on Market opportunity by Application ($ billion)

7 Market Segmentation by End-user

7.1 Market segments
Exhibit 52: Chart on End-user - Market share 2023-2028 (%)
Exhibit 53: Data Table on End-user - Market share 2023-2028 (%)
7.2 Comparison by End-user
Exhibit 54: Chart on Comparison by End-user
Exhibit 55: Data Table on Comparison by End-user
7.3 Personal - Market size and forecast 2023-2028
Exhibit 56: Chart on Personal - Market size and forecast 2023-2028 ($ billion)
Exhibit 57: Data Table on Personal - Market size and forecast 2023-2028 ($ billion)
Exhibit 58: Chart on Personal - Year-over-year growth 2023-2028 (%)
Exhibit 59: Data Table on Personal - Year-over-year growth 2023-2028 (%)
7.4 Commercial - Market size and forecast 2023-2028
Exhibit 60: Chart on Commercial - Market size and forecast 2023-2028 ($ billion)
Exhibit 61: Data Table on Commercial - Market size and forecast 2023-2028 ($ billion)
Exhibit 62: Chart on Commercial - Year-over-year growth 2023-2028 (%)
Exhibit 63: Data Table on Commercial - Year-over-year growth 2023-2028 (%)
7.5 Market opportunity by End-user
Exhibit 64: Market opportunity by End-user ($ billion)
Exhibit 65: Data Table on Market opportunity by End-user ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 67: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibit 68: Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Exhibit 69: Chart on Geographic comparison
Exhibit 70: Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2023-2028
Exhibit 71: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 72: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 73: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 74: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.4 North America - Market size and forecast 2023-2028
Exhibit 75: Chart on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 76: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 77: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.5 South America - Market size and forecast 2023-2028
Exhibit 79: Chart on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 80: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 81: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.6 Europe - Market size and forecast 2023-2028
Exhibit 83: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 84: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 85: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.7 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
Exhibit 91: Chart on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 92: Data Table on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 93: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 Thailand - Market size and forecast 2023-2028
Exhibit 95: Chart on Thailand - Market size and forecast 2023-2028 ($ billion)
Exhibit 96: Data Table on Thailand - Market size and forecast 2023-2028 ($ billion)
Exhibit 97: Chart on Thailand - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on Thailand - Year-over-year growth 2023-2028 (%)
9.10 Brazil - Market size and forecast 2023-2028
Exhibit 99: Chart on Brazil - Market size and forecast 2023-2028 ($ billion)
Exhibit 100: Data Table on Brazil - Market size and forecast 2023-2028 ($ billion)
Exhibit 101: Chart on Brazil - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on Brazil - Year-over-year growth 2023-2028 (%)
9.11 China - Market size and forecast 2023-2028
Exhibit 103: Chart on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 104: Data Table on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 105: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 106: Data Table on China - Year-over-year growth 2023-2028 (%)
9.12 Canada - Market size and forecast 2023-2028
Exhibit 107: Chart on Canada - Market size and forecast 2023-2028 ($ billion)
Exhibit 108: Data Table on Canada - Market size and forecast 2023-2028 ($ billion)
Exhibit 109: Chart on Canada - Year-over-year growth 2023-2028 (%)
Exhibit 110: Data Table on Canada - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Exhibit 111: Market opportunity By Geographical Landscape ($ billion)
Exhibit 112: Data Tables on Market opportunity By Geographical Landscape ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 113: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 114: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 115: Overview on factors of disruption
11.4 Industry risks
Exhibit 116: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 117: Vendors covered
12.2 Market positioning of vendors
Exhibit 118: Matrix on vendor position and classification
12.3 AirNFTs Platform
Exhibit 119: AirNFTs Platform - Overview
Exhibit 120: AirNFTs Platform - Product / Service
Exhibit 121: AirNFTs Platform - Key offerings
12.4 Asynchronous Art Inc.
Exhibit 122: Asynchronous Art Inc. - Overview
Exhibit 123: Asynchronous Art Inc. - Product / Service
Exhibit 124: Asynchronous Art Inc. - Key offerings
12.5 Binance Holdings Ltd.
Exhibit 125: Binance Holdings Ltd. - Overview
Exhibit 126: Binance Holdings Ltd. - Product / Service
Exhibit 127: Binance Holdings Ltd. - Key offerings
12.6 Blockchain App Factory
Exhibit 128: Blockchain App Factory - Overview
Exhibit 129: Blockchain App Factory - Product / Service
Exhibit 130: Blockchain App Factory - Key offerings
12.7 Chaincella
Exhibit 131: Chaincella - Overview
Exhibit 132: Chaincella - Product / Service
Exhibit 133: Chaincella - Key offerings
12.8 Decentraland Foundation
Exhibit 134: Decentraland Foundation - Overview
Exhibit 135: Decentraland Foundation - Product / Service
Exhibit 136: Decentraland Foundation - Key offerings
12.9 Funko Inc.
Exhibit 137: Funko Inc. - Overview
Exhibit 138: Funko Inc. - Product / Service
Exhibit 139: Funko Inc. - Key news
Exhibit 140: Funko Inc. - Key offerings
12.10 Gemini Trust Co. LLC
Exhibit 141: Gemini Trust Co. LLC - Overview
Exhibit 142: Gemini Trust Co. LLC - Product / Service
Exhibit 143: Gemini Trust Co. LLC - Key news
Exhibit 144: Gemini Trust Co. LLC - Key offerings
12.11 Mintable.app
Exhibit 145: Mintable.app - Overview
Exhibit 146: Mintable.app - Product / Service
Exhibit 147: Mintable.app - Key offerings
12.12 Ozone Networks Inc.
Exhibit 148: Ozone Networks Inc. - Overview
Exhibit 149: Ozone Networks Inc. - Product / Service
Exhibit 150: Ozone Networks Inc. - Key offerings
12.13 Out The Mud Ventures Inc.
Exhibit 151: Out The Mud Ventures Inc. - Overview
Exhibit 152: Out The Mud Ventures Inc. - Key offerings
12.14 Rarible Inc.
Exhibit 153: Rarible Inc. - Overview
Exhibit 154: Rarible Inc. - Product / Service
Exhibit 155: Rarible Inc. - Key offerings
12.15 SuperRare Labs Inc.
Exhibit 156: SuperRare Labs Inc. - Overview
Exhibit 157: SuperRare Labs Inc. - Product / Service
Exhibit 158: SuperRare Labs Inc. - Key offerings
12.16 Tiki Labs Inc.
Exhibit 159: Tiki Labs Inc. - Overview
Exhibit 160: Tiki Labs Inc. - Product / Service
Exhibit 161: Tiki Labs Inc. - Key offerings
12.17 Yellowheart LLC
Exhibit 162: Yellowheart LLC - Overview
Exhibit 163: Yellowheart LLC - Product / Service
Exhibit 164: Yellowheart LLC - Key offerings

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 165: Inclusions checklist
Exhibit 166: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 167: Currency conversion rates for US$
13.4 Research methodology
Exhibit 168: Research methodology
Exhibit 169: Validation techniques employed for market sizing
Exhibit 170: Information sources
13.5 List of abbreviations
Exhibit 171: List of abbreviations