Prediction: NFT market to grow by more than 350% by 2027
According to analysts at MarketsandMarkets, the non-fungible tokens market size will increase from $3 billion to $13,6 billion
07.05.2022 - 09:10
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What’s new? The global NFT market size may grow from $3 billion in 2022 to $13,6 billion by 2027 (by more than 350%). In this, a compound annual growth rate (CAGR) will be 35% over 5 years. These are the conclusions reached by analysts at MarketsandMarkets during research.
What will affect the growth of the market? Experts believe that the spread of NFTs will be facilitated by the influence of celebrities, the revolution in the gaming industry, as well as the slow but steady growth in demand for digital artworks. Asia Pacific will grow at the highest CAGR during the forecast period.
What is known about MarketsandMarkets? The company specializes in business research of high-growth markets, organizations, cutting-edge technologies, and new applications. It serves 7500 clients worldwide, including 80% of international companies of the Fortune 1000.
What events happened before? In March, Grand View Research, an analytical company, published a report stating that the volume of the metaverse market would reach $678,8 billion by 2030. The cumulative average annual growth rate over the decade was projected to be 39,4%. The analysts believe that metaverses will become a major part of the entertainment industry in the future.
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