Web 3.0 market stays fragmented as Binance leads 2024 sales

By AI, Created 10:18 AM UTC, May 20, 2026, /AGP/ – The Business Research Company says the global Web 3.0 market remained highly fragmented in 2024, with the top 10 players holding just 9% of revenue and Binance Holdings Ltd. leading with a 1% share. The report points to partnerships, wallet tools, blockchain infrastructure and AI-enabled platforms as the main ways companies are trying to win users and scale Web3 adoption.

Why it matters: - The Web 3.0 market is still early enough that no single company dominates, which leaves room for new entrants, partnerships and rapid shifts in market share. - Competition is increasingly tied to infrastructure, security, compliance and user onboarding, not just token trading or app launches. - The report frames Web 3.0 growth as a race to build trusted decentralized services for consumers, enterprises and developers.

What happened: - The Business Research Company published its Web 3.0 Global Market Report 2026, covering market size, trends and forecasts for 2026-2035. - Binance Holdings Ltd. led global Web 3.0-related sales in 2024 with a 1% market share. - Binance’s digital asset trading and blockchain ecosystem division offers cryptocurrency exchange services, decentralized finance solutions, blockchain infrastructure tools and Web 3.0 application support. - The report says the market is dominated by global blockchain platform providers, cryptocurrency exchanges and decentralized application developers. - The report also lists the major players in the market as Binance Holdings Ltd., Crypto.com, Tether, OKX, Coinbase Global Inc., Alphabet Inc. (Gemini), ChainAnalysis Inc., Polygon Labs, Consensys Inc., Kraken, Ripple Labs Inc., Amazon Web Services, Oracle Corp., Sygnum Bank AG, Alchemy Insights Inc., International Business Machines, Okcoin USA Inc., Protocol Labs Inc., Decentraland, Fujitsu Ltd., Ava Labs Inc., Helium Systems Inc. and Ocean Protocol Foundation Ltd. - The report identifies major raw material suppliers as Alchemy Insights Inc., ConsenSys, Chainstack Pte Ltd., QuickNode Inc., Amazon Web Services Inc., Microsoft Azure, Google Cloud Platform, Oracle Corporation, DigitalOcean Holdings Inc., Akamai Technologies Inc., Cloudflare Inc. and Equinix Inc. - The report names major wholesalers or distributors as Coinbase Global Inc., Kraken, Bitstamp Ltd., Gemini Trust Company LLC, Bitfinex, KuCoin Co. Ltd., Gate.io, Bybit Fintech Limited and Bitget Pte. Ltd. - The report lists major end users as Meta Platforms Inc., Tencent Holdings Ltd., Ubisoft Entertainment SA, Electronic Arts Inc., PayPal Holdings Inc., Visa Inc., Mastercard Incorporated, JPMorgan Chase & Co., Goldman Sachs Group Inc., Shopify Inc., Nike Inc. and Reddit Inc. - The company says the top 10 players accounted for 9% of total market revenue in 2024.

The details: - The report says leading companies are focusing on distributed ledger technologies, smart contract development, DeFi solutions, tokenization frameworks and AI and interoperability integration. - The report says competitive positioning now depends on data ownership, security, scalability of decentralized networks, transparency in transactions and regulatory compliance. - Leading companies listed by the report include Binance Holdings Ltd. (1%), Crypto.com (1%), Tether (1%), OKX (1%), Coinbase Global Inc. (1%), Alphabet Inc. (Gemini) (1%), ChainAnalysis Inc. (1%), Polygon Labs (1%), Consensys Inc. (1%) and Kraken (1%). - The report says the market’s fragmentation reflects changing technological and regulatory barriers, faster blockchain innovation, wider adoption of decentralized applications and growing demand for digital asset infrastructure. - Strategic partnerships and ecosystem collaborations are expanding user reach, accelerating stablecoin adoption and making DeFi integrations easier. - The report cites a January 2025 partnership between Jio Platforms Limited and Polygon Labs to bring Web3 capabilities to more than 450 million users. - The partnership integrated blockchain technology into Jio’s digital ecosystem. - The report says Polygon’s scalable blockchain infrastructure, low-cost transactions and support for decentralized applications help secure digital transactions, improve data ownership and speed Web3 adoption. - The report says companies are also using integrated Web3 wallets to simplify onboarding and improve asset security. - Other strategies include blockchain RPC infrastructure for scalable applications, AI-enabled Web3 enterprise platforms for compliance and user experience, and advanced blockchain platforms for faster decentralized innovation. - The Business Research Company says it has published more than 17,500 reports across 27 industries and 60+ geographies. - The company says its research is powered by 1,500,000 datasets, secondary research and interviews with industry leaders. - The company offers continuous and custom research services, including market entry research, competitor tracking and supplier and distributor packages. - The report includes a sample request link: Request a free sample. - The full report is available at Access the detailed report.

Between the lines: - The 1% leading share and 9% top-10 concentration suggest Web 3.0 remains highly dispersed, with no clear winner across the ecosystem. - The emphasis on partnerships and infrastructure points to a market where distribution and developer adoption may matter as much as product features. - The Jio-Polygon example signals that consumer-scale platforms can be a major growth lever for Web3, especially when paired with low-cost infrastructure.

What’s next: - The report expects product innovation, ecosystem expansion and strategic collaborations to strengthen the position of leading companies. - Demand for decentralized digital services, data ownership and blockchain-based applications is likely to keep pushing companies toward broader platform integrations. - Firms that can combine secure infrastructure, compliance and simple user experiences may be best positioned to capture the next wave of adoption.

The bottom line: - Web 3.0 is a crowded market with small leading shares, and companies are competing by building the plumbing, partnerships and user tools needed to make decentralized services easier to use.