Non-Fungible Tokens Market Size and Share Analysis by Offering (Business Strategy Formulation, NFT Creation and Management, NFT Platform-Marketplace), End User (Media and Entertainment, Gaming)

Description

Market Overview

The worldwide non-fungible tokens industry size stood at USD 4,068.5 million in 2023, and it is expected to reach USD 34,395.6 million by 2030, advancing at a CAGR of 36.2% during 2024-2030.

This is due to the rising attraction to blockchain gaming which is based on the environment; the increasing number of digital assets and collectibles; the booming trend of the metaverse; the growing popularity of digital currency (cryptocurrency); and the rising number of authenticators as well as tracking devices for the real owners.

Nowadays, the gaming industry is blessed with pioneering trends in games, for example, strategy and role-playing games, where gamers can create characters and get tokens by being the character owner in the digital world, which then can be sold on online marketplaces.

A niche where the gaming industry has gotten the most benefit from the NFTs is their capability to develop non-duplicable in-game objects, in which case gamers get to possess ownership that was not there before.

Also, about real estate, it would be possible to represent property or physical land as a digital token on a blockchain, where the token symbolizes a piece of land linked to all its features, including location, size, and cost. Furthermore, the increasing consciousness about the benefits of these digital tokens spread across the globe is a significant factor that can directly influence market growth.

Key Insights

The gaming category is projected to advance at the fastest pace, CAGR of 40%, propelled by growing gamers, events, and development firms.

Surge in blockchain-fortified games and play-to-earn trend contributing to development.

NFT-based gaming channels transforming gaming with play-to-earn features and tokenization.

Metaverse game producers use advanced blockchain and AI technologies to power more applicable experiences throughout.

NFT-based game development concentrating on metaverse development in virtual 3D gaming.

In the coming years, the NFT platform marketplace is projected to witness a 38% development rate.

This development can be credited to the growing trend of trading, buying, and selling digital assets.

Provides exclusive ownership rights, trading options, and an online marketplace for liquidity.

Monetization of digital assets offers an added revenue stream for industry players.

Increasing count of new entrants and digital assets fuel the digital economy and industry progress.

Governments are also promoting their countries' technology through programs such as India's blockchain CoE which was rolled out in January 2020, gifting BaaS services to government departments.

The surface level for online payment is based on card-based techniques, and the graduate level is based on blockchain tools for carrying out secure transactions.

Blockchain is the power behind fast transactions, which is the main reason for the markets to grow.

Hence, the reading of blockchain solutions together with existing systems creates room for enhanced control functionality besides boosting technology adoption within the organizations.

NFT-based game development is been upgraded to incorporate NFT features which facilitate the infusion of creativity into the game, thus attracting an increasing number of players.

In 2023, the North American region had the largest revenue share of 50% and is projected to uphold supremacy, propelled by reasons like augmented digital artwork creation, the existence of major players, high acceptance of blockchain, and favorable guidelines for digital currency.

The U.S. contributes significantly to North America's market share due to its home to many major players and the rapid integration of blockchain technology across industries.

The APAC region is projected to advance with the highest growth rate, thanks to growing industry players, IT infrastructure investments, NFT trading platforms, cryptocurrency use, interest in digital artwork, metaverse platform development by startups, and international funding.

Product Code: 12871

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by offering
- 1.4.2. Market size breakdown, by end user
- 1.4.3. Market size breakdown, by region
- 1.4.4. Market size breakdown, by country
1.5. Market Data Reporting Unit
- 1.5.1. Value
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
5.2. Impact of COVID-19
5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes

Chapter 6. Global Market

6.1. Overview
6.2. Market Revenue, by Offering (2017-2030)
6.3. Market Revenue, by End User (2017-2030)
6.4. Market Revenue, by Region (2017-2030)

Chapter 7. North America Market

7.1. Overview
7.2. Market Revenue, by Offering (2017-2030)
7.3. Market Revenue, by End User (2017-2030)
7.4. Market Revenue, by Country (2017-2030)

Chapter 8. Europe Market

8.1. Overview
8.2. Market Revenue, by Offering (2017-2030)
8.3. Market Revenue, by End User (2017-2030)
8.4. Market Revenue, by Country (2017-2030)

Chapter 9. APAC Market

9.1. Overview
9.2. Market Revenue, by Offering (2017-2030)
9.3. Market Revenue, by End User (2017-2030)
9.4. Market Revenue, by Country (2017-2030)

Chapter 10. LATAM Market

10.1. Overview
10.2. Market Revenue, by Offering (2017-2030)
10.3. Market Revenue, by End User (2017-2030)
10.4. Market Revenue, by Country (2017-2030)

Chapter 11. MEA Market

11.1. Overview
11.2. Market Revenue, by Offering (2017-2030)
11.3. Market Revenue, by End User (2017-2030)
11.4. Market Revenue, by Country (2017-2030)

Chapter 12. U.S. Market

12.1. Overview
12.2. Market Revenue, by Offering (2017-2030)
12.3. Market Revenue, by End User (2017-2030)

Chapter 13. Canada Market

13.1. Overview
13.2. Market Revenue, by Offering (2017-2030)
13.3. Market Revenue, by End User (2017-2030)

Chapter 14. Germany Market

14.1. Overview
14.2. Market Revenue, by Offering (2017-2030)
14.3. Market Revenue, by End User (2017-2030)

Chapter 15. France Market

15.1. Overview
15.2. Market Revenue, by Offering (2017-2030)
15.3. Market Revenue, by End User (2017-2030)

Chapter 16. U.K. Market

16.1. Overview
16.2. Market Revenue, by Offering (2017-2030)
16.3. Market Revenue, by End User (2017-2030)

Chapter 17. Italy Market

17.1. Overview
17.2. Market Revenue, by Offering (2017-2030)
17.3. Market Revenue, by End User (2017-2030)

Chapter 18. Spain Market

18.1. Overview
18.2. Market Revenue, by Offering (2017-2030)
18.3. Market Revenue, by End User (2017-2030)

Chapter 19. Japan Market

19.1. Overview
19.2. Market Revenue, by Offering (2017-2030)
19.3. Market Revenue, by End User (2017-2030)

Chapter 20. China Market

20.1. Overview
20.2. Market Revenue, by Offering (2017-2030)
20.3. Market Revenue, by End User (2017-2030)

Chapter 21. India Market

21.1. Overview
21.2. Market Revenue, by Offering (2017-2030)
21.3. Market Revenue, by End User (2017-2030)

Chapter 22. Australia Market

22.1. Overview
22.2. Market Revenue, by Offering (2017-2030)
22.3. Market Revenue, by End User (2017-2030)

Chapter 23. South Korea Market

23.1. Overview
23.2. Market Revenue, by Offering (2017-2030)
23.3. Market Revenue, by End User (2017-2030)

Chapter 24. Brazil Market

24.1. Overview
24.2. Market Revenue, by Offering (2017-2030)
24.3. Market Revenue, by End User (2017-2030)

Chapter 25. Mexico Market

25.1. Overview
25.2. Market Revenue, by Offering (2017-2030)
25.3. Market Revenue, by End User (2017-2030)

Chapter 26. Saudi Arabia Market

26.1. Overview
26.2. Market Revenue, by Offering (2017-2030)
26.3. Market Revenue, by End User (2017-2030)

Chapter 27. South Africa Market

27.1. Overview
27.2. Market Revenue, by Offering (2017-2030)
27.3. Market Revenue, by End User (2017-2030)

Chapter 28. U.A.E. Market

28.1. Overview
28.2. Market Revenue, by Offering (2017-2030)
28.3. Market Revenue, by End User (2017-2030)

Chapter 29. Competitive Landscape

29.1. List of Market Players and their Offerings
29.2. Competitive Benchmarking of Key Players
29.3. Product Benchmarking of Key Players
29.4. Recent Strategic Developments

Chapter 30. Company Profiles

30.1. Cloudflare Inc.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
30.2. Gemini Trust Company LLC
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
30.3. Ozone Networks Inc. (OpenSea)
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
30.4. SemiDot Infotech
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
30.5. Dapper Labs Inc.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
30.6. TSB Gaming Limited
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
30.7. Art Blocks Inc.
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
30.8. Rarible Inc.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
30.9. Axie Infinity
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary

Chapter 31. Appendix

31.1. Abbreviations
31.2. Sources and References
31.3. Related Reports

Non-Fungible Tokens Market Size and Share Analysis by Offering (Business Strategy Formulation, NFT Creation and Management, NFT Platform-Marketplace), End User (Media and Entertainment, Gaming) - Global Industry Growth Forecast to 2030