The Global Non-fungible Token (NFT) Market is expected to grow by $113,933.5 mn during 2023-2027, accelerating at a CAGR of 35.02% during the forecast period – Yahoo Finance

NEW YORK, Dec. 6, 2022 /PRNewswire/ —

Global Non-fungible Token (NFT) Market 2023-2027
The analyst has been monitoring the non-fungible token (NFT) market and it is poised to grow by $113,933.5 mn during 2023-2027, accelerating at a CAGR of 35.02% during the forecast period. Our report on the non-fungible token (nft) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

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The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increasing demand for digital art, growing investments in digital assets, and security and ownership of digital assets.

The non-fungible token (NFT) market is segmented as below:
By Application
• Collectibles
• Sports
• Arts
• Others

By End-user
• Personal
• Commercial

By Geographical Landscape
• North America
• South America
• Europe
• Middle East and Africa

This study identifies the growing number of big brands entering the market as one of the prime reasons driving the non-fungible token (NFT) market growth during the next few years. Also, the emergence of fractionalized NFTs and the growing number of strategic initiatives in the NFT market will lead to sizable demand in the market.

The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the non-fungible token (NFT) market covers the following areas:
• Non-fungible token (NFT) market sizing
• Non-fungible token (NFT) market forecast
• Non-fungible token (NFT) market industry analysis

This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading non-fungible token (NFT) market vendors that include Binance Services Holdings Ltd., Cloudflare Inc, Dapper Labs Inc., Decentraland, Enjin Pte. Ltd., Foundation Labs Inc., FTX Trading Ltd., Funko Inc., Gala Games, Gemini Trust Co. LLC,, Mobox Digital Co. Ltd., Onchain Labs Inc., OpenSea, Rarible Inc., Sorare, SuperRare Labs Inc., Theta Labs Inc., Yellowheart LLC, and Yuga Labs LLC. Also, the non-fungible token (NFT) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research – both primary and secondary. Technavio’s market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

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