Blockchain’s Big Bang: Web 3.0

The potential of blockchain is enormous as it will be a foundational protocol for the next generation Web 3.0 which we expect will overtake the current Web 2.0 in 5-7 years.

To summarize, blockchain technology will be a foundation protocol of Web 3.0 blockchain Market, which will support peer to peer transactions and communications that eliminate the need and functions of Web 2.0 central authorities and  ‘gatekeepers‘ such as major search engines and social media sites. Blockchain-based peer to peer transactions will range from value transfers of cryptocurrencies and other digital assets, to anonymized identity information and financial accounts that users control.

Web 3.0 will transform us from Web 2.0’s monetization via surveillance capitalism and advertising to monetization built directly into the protocol that is equally available to any connected user.

What Is Web 3.0 and Metaverse

The Metaverse is a collaborative virtual space created parallel to our physical reality that can be accessed through the internet and compatible hardware devices. Web 3.0 is a digital environment where we can create, share, and formalize deals. Artificial intelligence and machine learning technology will allow users to engage with data.

These technologies involve a high level of artificial intelligence and an advanced user interface. Considering the increasing market size of Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) (expected to rise to 297 Billion U.S. Dollars by 2024), both of these technologies will bring the next-generation internet to life.

Metaverse vs Web 3.0

Unlike Web 2.0, where users have little to no control over their content, Web 3.0 users create, control and monetize their content. Through blockchains and cryptocurrencies, Web 3.0 offers complete control to its users. Considering all of this, Metaverse is, in a way, Web 3.0. It offers a decentralized community of nodes with open access to users worldwide to exchange data and information. Metaverse is a dimension that utilizes Web 3.0 ideas to achieve its purposes. Metaverse is an innovative futuristic era creating a virtual environment, whereas Web 3.0 is an improvement on Web 2.0 focusing on making the internet more intelligent.

GLOBAL: METAVERSE MARKET, 2020-2030

Metaverse MarketDynamics

The global Metaverse market is expected to witness substantial growth during the forecast period. The major factors driving the growth of the metaverse market are the increasing focus on converging digital and physical worlds using the Internet and the growing demand for Metaverse to purchase digital assets using cryptocurrencies. However, cyber-threats in Metaverse are hindering metaverse market growth. But technological advancements are creating an opportunity in the metaverse market.

METAVERSE TABLE OF CONTENTS

1 EXECUTIVE SUMMARY 18

1.1 MARKET ATTRACTIVENESS ANALYSIS 20

2 MARKET INTRODUCTION 21

2.1 DEFINITION 21

2.2 SCOPE OF THE STUDY 21

2.3 RESEARCH OBJECTIVE 21

2.4 MARKET STRUCTURE 22

3 RESEARCH METHODOLOGY 23

4 MARKET DYNAMICS 31

4.1 INTRODUCTION 31

4.2 DRIVER 32

4.2.1 INCREASING FOCUS ON CONVERGING DIGITAL AND PHYSICAL WORLDS USING INTERNET 32

4.2.2 INCREASING TRACTION AND POPULARITY OF MIXED REALITY (MR) 33

4.3 RESTRAINT 34

4.3.1 CYBER-THREATS 34

4.4 OPPORTUNITY 34

4.4.1 TECHNOLOGICAL ADVANCEMENT 34

4.5 COVID-19 IMPACT 35

4.5.1 IMPACT ON THE IT INDUSTRY 35

4.5.2 IMPACT ON IT EXPENDITURE BY ORGANIZATIONS 35

4.5.3 IMPACT ON METAVERSE DEVELOPMENTS 35

5 MARKET FACTOR ANALYSIS 36

5.1 VALUE CHAIN 36

5.1.1 RESEARCH & DEVELOPER 36

5.1.2 SYSTEM INTEGRATORS 36

5.1.3 END USERS 36

5.2 PORTER'S FIVE FORCES MODEL 37

5.2.1 THREAT OF NEW ENTRANTS 37

5.2.2 BARGAINING POWER OF SUPPLIERS 38

5.2.3 THREAT OF SUBSTITUTES 38

5.2.4 BARGAINING POWER OF BUYERS 38

5.2.5 INTENSITY OF RIVALRY 38

6 GLOBAL METAVERSE STATUS 39

6.1 THE DEVELOPMENT STAGE DIVISION OF THE METAVERSE 39

6.2 GLOBAL METAVERSE INVESTMENTS BY REGION 39

6.3 GLOBAL METAVERSE PROJECTED USERS ANALYSIS 40

7 GLOBAL METAVERSE MARKET, BY COMPONENT 41

7.1 OVERVIEW 41

7.1.1 GLOBAL METAVERSE MARKET, BY COMPONENT, 2020–2030 (USD MILLION) 42

7.2 HARDWARE 42

7.3 SOFTWARE 42

8 GLOBAL METAVERSE MARKET, BY PLATFORM 43

8.1 OVERVIEW 43

8.1.1 GLOBAL METAVERSE MARKET, BY PLATFORM, 2020–2030 (USD MILLION) 44

8.2 DESKTOP/LAPTOPS 44

8.3 MOBILE 44

8.4 WEARABLES 44

The Intelligent Document Processing Market is growing at a rapid pace. Intelligent document processing (IDP) tool helps enterprises implement, understand, and gain insights from a vast set of raw and unstructured information (data). Rising demand for automated document processing drives market growth.

Besides, increasing demand for document automation technology to extract meaningful information from paper/electronic documents and other forms of unstructured data substantiates the market size. Market Research Future (MRFR) asserts that the global intelligent document processing market would reach exponential heights by 2027, posting a whopping CAGR during the forecast period (2020 – 2027).

Massive investments made into the development of IDP solutions influence market growth. Improved intelligent document processing is a key pillar in making unstructured data easily accessible, helping organizations to deliver business efficiency and innovation. Given the ongoing digital transformation and the changing business world, enterprises extensively use sustainable solutions and adapt to evolutions.

IDP combines human interaction and AI & machine learning (ML) technologies, managing component monitoring accuracy and automation. Besides, IDP provides a cost-efficient method for extracting key information from any unstructured document without human intervention. Automation of various processes has become imperative in enterprises irrespective of the size of organizations.

Additionally, the proliferation of digital transformation and automation, alongside the increasing uptake of IDP solutions among many enterprises across industries, favors market growth. Advances in automation tools and increasing uses of intelligent solutions influence the development of the market. Furthermore, vast advancements in technological infrastructure influence market growth.

Global Intelligent Document Processing Market – Segmentation

The market is segmented into components, deployment modes, technology, organization size, verticals, and regions. The component segment is sub-segmented into solutions and services. The deployment mode segment is sub-segmented into on-premises and cloud-based.

The technology segment is sub-segmented into natural language processing (NLP), optical character recognition (OCR), robotic process automation (RPA), Google vision, deep learning (DL), machine learning (ML), and artificial intelligence (AI).

The organization size segment is sub-segmented into small & medium enterprises and large enterprises. The vertical segment is sub-segmented into BFSI, government & public sector, retail & e-commerce, manufacturing, healthcare & life sciences, transportation & logistics, and others. The region segment is sub-segmented into Europe, North America, Asia Pacific, the Middle East & Africa, and others.

Intelligent Document Processing Market – Regional Analysis

North America leads the global intelligent document processing market. Factors such as the rapid adoption in the various industries and the rise in IT spending drive the regional market growth. Besides, the rapid adoption of advanced technologies such as AI, ML, NLP, and computer vision, alongside the strong presence of IDP vendors in the region such as Kofax, ABBYY, IBM, Parascript, WorkFusion, Hyland, and Extract Systems, act as major growth drivers for the market.

Global Intelligent Document Processing Market – Competitive Analysis

The well-established intelligent document processing market appears fragmented due to the presence of several key intelligent document processing companies. Big data as service providers incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product launch to gain a competitive advantage. Big data service providers focus on innovations and the development of new solutions, fueling the already intensified market competition.

Major Players:

Players leading the global intelligent document processing market include IBM (US), Kofax (US), WorkFusion (US), ABBYY (US), Automation Anywhere (US), Appian (US), UiPath (US), Datamatics (India), Deloitte (UK), AntWorks (Singapore), OpenText (Canada), Celaton (UK), HCL Technologies (India), Kodak Alaris (UK), among others.

Industry/ Innovation/ Related News

Aug. 29, 2021 ---- ZEXPR, a leading IT boutique, sponsored the development of six products. BAD SISTEMS has been building various domain knowledge in different industries. Instead of taking paths like many other IT companies in Eastern Europe, the company focuses on new product development.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/intelligent-document-processing-market-10629

Network Slicing Market Research Report: Information by Component (Solution and Services), End User (Telecom Operators and Enterprises), Application (Manufacturers, Healthcare, Automotive, Media & Entertainment, and Others), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Forecast till 2026

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.