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21 Jul, 2022, 16:00 BST
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SAN FRANCISCO, July 21, 2022 /PRNewswire/ — The global non-fungible token market size is anticipated to total USD 211.72 billion by 2030, witnessing growth at a CAGR of 33.9% from 2022 to 2030 according to a new report by Grand View Research, Inc. Rising popularity of digital artwork across the globe is the key factor propelling the market growth. Like other sectors, the ongoing technological advancements have thrived the art world. Using these technologies, the art is created or displayed, which is called digital art. This art is gaining tremendous prominence in today’s fast world, which has positively impacted the NFT market to grow at a fast pace.
Key Industry Insights & Findings from the report:
Read 150 page full market research report for more Latest Industry Insights, "Non-fungible Token Market Size, Share & Trends Analysis Report By Type (Physical Asset, Digital Asset), By Application (Collectibles, Art, Gaming), By End Use, By Region, And Segment Forecasts, 2022 – 2030"
Non-fungible Token Market Growth & Trends
Furthermore, the growing inclination toward the use of cryptocurrency worldwide is flourishing the market. Cryptocurrency is surging to be the largest economy in the world changing the face of global capitalization. Hence, the key companies operating in the market are increasing their investments and funding toward NFT.
The COVID-19 outbreak has favoured the market. The stringent lockdown restrictions made the population explore the digital world. Moreover, it has affected the economic system of the globe due to recession and halt of work in various sectors. However, due to digital platforms, people found ways to earn money online. Thus, this took NFT-based platforms and apps to a new level, creating opportunities for market expansion.
Non-fungible Token Market Segmentation
Grand View Research has segmented the global non-fungible token market based on type, application, end-use, and region:
Type Outlook (Revenue, USD Billion, 2018 – 2030)
Application Outlook (Revenue, USD Billion, 2018 – 2030)
End-use Outlook (Revenue, USD Billion, 2018 – 2030)
Regional Outlook (Revenue, USD Billion, 2018 – 2030)
List of Key Players in the Non-Fungible Token (NFT) Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research’s Next Generation Technologies Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc.
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