Blockchain Messaging Apps Market Sales Are Surging Due to Growing Smartphone Penetration. Combined Sales to Cross US$ 1,700.31 billion by 2033 Says Future Market Insights, Inc.
North America is a lucrative blockchain messaging apps market and is expected to dominate throughout the forecast period. The rising demand for data privacy and increasing advancements in Web 3.0 across the globe is anticipated to drive market growth.
NEWARK, Del, Feb. 03, 2023 (GLOBE NEWSWIRE) -- It is predicted that the blockchain messaging apps market share is expected to increase from US$ 45.92 billion in 2023 to US$ 1,700.31 billion in 2033. This is likely to drive market share and register a CAGR of 43.5% between 2023 and 2033.
Users benefit from blockchain messaging apps due to the high level of security they provide. Since no central server is required to store messages or serve as a relay between the sender and receiver, their messages cannot be intercepted or recorded.
The popularity of blockchain messaging apps can be attributed to decentralized end-to-end encryption technology. For example, Telegram, a messaging app that uses blockchain technology, has over 500 million users.
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Increasing privacy concerns have resulted in security concerns for traditional messaging apps. The delivery of messages through end-to-end or via encryption in transit technology is controlled by service providers, while in terms of blockchain messaging, no service provider is involved.
“As smartphone penetration increases and internet use increases, the number of users of online messaging platforms is expected to increase, thereby driving blockchain messaging apps market growth.” – says a lead analyst at Future Market Insights.
Key Takeaways from Market Study
The blockchain messaging apps market is expected to grow at a CAGR of 5.5% over the forecast period.
According to estimates, the blockchain messaging apps market in India remains strong throughout the forecast period.
By 2033, the United States is expected to hold a 74.5% share of the North American market.
The demand for blockchain messaging apps in the United Kingdom is expected to rise at nearly 35.2% CAGR.
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In the blockchain messaging apps market, there are multiple international and regional players competing, making it highly competitive. Several prominent companies dominate this market, including CYBER DUST, Status, Crypviser, Sappchat.com, Signal, Solana Foundation, Crypto-Chat, Telegram, Beepo LLC, CryptoDATA, and others.
To gain a dominant market share, companies are focusing on price and promotions. This market is highly consolidated, with these players holding the leading share. To expand their presence and maintain their position in the market, these companies are investing more in research and development to develop consumer-driven blockchain messaging apps.
In spite of fierce competition in the blockchain messaging app market, manufacturers are constantly updating their products and coming up with novel features for differentiation. Furthermore, start-ups and companies participate in fundraising activities to expand their capabilities.
It was announced in April 2021 that Social Technologies LLC was launching a decentralized social networking protocol. The protocol was intended to allow users to own and control global social networks
In November 2022, Notifi, a communication infrastructure platform for web3, raised US$ 10 million from Race Capital and Hashed.
Block.one, which runs the EOS blockchain, recently launched Voice, a blockchain-based messaging app.
Blockchain Messaging Apps Market Segmentation by Category
By Operating System:
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Table of Content
1. Executive Summary | Blockchain Messaging Apps Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
Complete TOC with Report Preview: https://www.futuremarketinsights.com/toc/rep-gb-16613
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About Us :
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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