NEW YORK – The non-fungible token (NFT) market estimates a market value of USD 147.24 billion from 2021 to 2026 as per the latest market forecast report by Technavio. In addition, the report projects the market to progress at a CAGR of 35.27%. The non-fungible token (NFT) market share growth by the collectibles segment will be significant during the forecast period. The growth of the collectible segment is majorly driven by the growing demand for digital assets across the world. Some of the vendors offering NFT collectibles include Funko Inc., Foundation, and Makersplace.
Non-fungible Token (NFT) Market: Major Driver
- The key factor driving the global non-fungible token (NFT) market growth is the increasing demand for digital artworks.
- Globally, NFT has gained traction in digital art applications through the Internet, social media, and other digital mediums.
- In addition, NFTs permit greater accessibility to the art world. Instead of visiting a gallery, buyers can instantly visit online portals for buying NFT artworks. The tokens can be used to sell artworks directly through virtual platforms, reducing the turnaround time of purchase. Therefore, such factors are driving the demand for the global NFT market.
Non-fungible Token (NFT) Market: Major Trend
- The growing number of big brands entering the market is one of the key NFT market trends that is expected to impact the industry positively in the forecast period.
- Big brands such as Visa Inc. and Budweiser are showing more interest in buying NFTs rather than making their own NFTs., With a growing number of e-commerce brands, consumers are shifting toward Web 3.0.
- The digitally native brands such as eBay Inc. and Amazon are showing more interest in NFTs. Such developments are expected to increase the number of transactions in the NFT market, thus fostering market growth in the coming years.
Non-fungible Token (NFT) Market: Segmentation Analysis
This market research report segments the non-fungible token (NFT) Market by Application (Collectibles, Sports, Arts, and Others) and Geography (APAC, South America, Middle East, Africa, North America, and Europe).
- Regional Analysis: 43% of the market’s growth will originate from APAC during the forecast period. Singapore, China, and The Philippines are the key markets for non-fungible tokens (NFT) in APAC. However, market growth in this region will be slower than the growth of the market in other regions. The growing demand for digital assets in countries such as Singapore, China, South Korea, the Philippines, and Japan will facilitate the non-fungible token (NFT) market growth in APAC over the forecast period.
Get ready to achieve excellent business outcomes from this exclusive Non-fungible Token (NFT) Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as –
- What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?
- What is the current trend taking place in the market space?
- Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?
- What are market drivers, restraints, and challenges impacting demand & growth of the market?
- Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?
The competitive scenario provided in the Non-fungible Token (NFT) Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don’t wait, Make a strategic approach & boost your business goals with our Non-fungible Token (NFT) Market Forecast Report – Buy Now!
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| Non-fungible Token (NFT) Market Scope | |
| Report Coverage | Details |
| Page number | 120 |
| Base year | 2021 |
| Forecast period | 2022-2026 |
| Growth momentum & CAGR | Accelerate at a CAGR of 35.27% |
| Market growth 2022-2026 | USD 147.24 billion |
| Market structure | Fragmented |
| YoY growth (%) | 30.72 |
| Performing market contribution | APAC at 43% |
| Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
| Companies profiled | Asynchronous Art Inc., Binance Services Holdings Ltd., Dapper Labs Inc., Decentraland Foundation, Enjin Pte. Ltd., Foundation Labs Inc., FTX Trading Ltd., Funko Inc., Gala Games, Gemini Trust Co. LLC, Mintable.app, Mobox Digital Co. Ltd., Onchain Labs Inc., OpenSea, Rarible Inc., Sorare SAS, SuperRare Labs Inc., Theta Labs Inc., Yellowheart LLC, and Yuga Labs LLC |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized |
Table of Content
1. Executive Summary
- 1.1 Market Overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2. Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market characteristics
3. Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021 – 2026
- Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ billion)
- Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ billion)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4. Five Forces Analysis
- 4.1 Five Forces Summary
- Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition – Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application – Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application – Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 Collectibles – Market size and forecast 2021-2026
- Exhibit 28: Chart on Collectibles – Market size and forecast 2021-2026 ($ billion)
- Exhibit 29: Data Table on Collectibles – Market size and forecast 2021-2026 ($ billion)
- Exhibit 30: Chart on Collectibles – Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Collectibles – Year-over-year growth 2021-2026 (%)
- 5.4 Sports – Market size and forecast 2021-2026
- Exhibit 32: Chart on Sports – Market size and forecast 2021-2026 ($ billion)
- Exhibit 33: Data Table on Sports – Market size and forecast 2021-2026 ($ billion)
- Exhibit 34: Chart on Sports – Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Sports – Year-over-year growth 2021-2026 (%)
- 5.5 Arts – Market size and forecast 2021-2026
- Exhibit 36: Chart on Arts – Market size and forecast 2021-2026 ($ billion)
- Exhibit 37: Data Table on Arts – Market size and forecast 2021-2026 ($ billion)
- Exhibit 38: Chart on Arts – Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Arts – Year-over-year growth 2021-2026 (%)
- 5.6 Others – Market size and forecast 2021-2026
- Exhibit 40: Chart on Others – Market size and forecast 2021-2026 ($ billion)
- Exhibit 41: Data Table on Others – Market size and forecast 2021-2026 ($ billion)
- Exhibit 42: Chart on Others – Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Others – Year-over-year growth 2021-2026 (%)
- 5.7 Market opportunity by Application
- Exhibit 44: Market opportunity by Application ($ billion)
6. Customer landscape
- 6.1 Customer landscape overview
- Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
- Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7. Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 46: Chart on Market share by geography 2021-2026 (%)
- Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 48: Chart on Geographic comparison
- Exhibit 49: Data Table on Geographic comparison
- 7.3 APAC – Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC – Market size and forecast 2021-2026 ($ billion)
- Exhibit 51: Data Table on APAC – Market size and forecast 2021-2026 ($ billion)
- Exhibit 52: Chart on APAC – Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC – Year-over-year growth 2021-2026 (%)
- 7.4 South America – Market size and forecast 2021-2026
- Exhibit 54: Chart on South America – Market size and forecast 2021-2026 ($ billion)
- Exhibit 55: Data Table on South America – Market size and forecast 2021-2026 ($ billion)
- Exhibit 56: Chart on South America – Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on South America – Year-over-year growth 2021-2026 (%)
- 7.5 Middle East and Africa – Market size and forecast 2021-2026
- Exhibit 58: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ billion)
- Exhibit 59: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ billion)
- Exhibit 60: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- 7.6 North America – Market size and forecast 2021-2026
- Exhibit 62: Chart on North America – Market size and forecast 2021-2026 ($ billion)
- Exhibit 63: Data Table on North America – Market size and forecast 2021-2026 ($ billion)
- Exhibit 64: Chart on North America – Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on North America – Year-over-year growth 2021-2026 (%)
- 7.7 Europe – Market size and forecast 2021-2026
- Exhibit 66: Chart on Europe – Market size and forecast 2021-2026 ($ billion)
- Exhibit 67: Data Table on Europe – Market size and forecast 2021-2026 ($ billion)
- Exhibit 68: Chart on Europe – Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Europe – Year-over-year growth 2021-2026 (%)
- 7.8 Singapore – Market size and forecast 2021-2026
- Exhibit 70: Chart on Singapore – Market size and forecast 2021-2026 ($ billion)
- Exhibit 71: Data Table on Singapore – Market size and forecast 2021-2026 ($ billion)
- Exhibit 72: Chart on Singapore – Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Singapore – Year-over-year growth 2021-2026 (%)
- 7.9 China – Market size and forecast 2021-2026
- Exhibit 74: Chart on China – Market size and forecast 2021-2026 ($ billion)
- Exhibit 75: Data Table on China – Market size and forecast 2021-2026 ($ billion)
- Exhibit 76: Chart on China – Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China – Year-over-year growth 2021-2026 (%)
- 7.10 Venezuela – Market size and forecast 2021-2026
- Exhibit 78: Chart on Venezuela – Market size and forecast 2021-2026 ($ billion)
- Exhibit 79: Data Table on Venezuela – Market size and forecast 2021-2026 ($ billion)
- Exhibit 80: Chart on Venezuela – Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Venezuela – Year-over-year growth 2021-2026 (%)
- 7.11 The Philippines – Market size and forecast 2021-2026
- Exhibit 82: Chart on The Philippines – Market size and forecast 2021-2026 ($ billion)
- Exhibit 83: Data Table on The Philippines – Market size and forecast 2021-2026 ($ billion)
- Exhibit 84: Chart on The Philippines – Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on The Philippines – Year-over-year growth 2021-2026 (%)
- 7.12 United Arab Emirates – Market size and forecast 2021-2026
- Exhibit 86: Chart on United Arab Emirates – Market size and forecast 2021-2026 ($ billion)
- Exhibit 87: Data Table on United Arab Emirates – Market size and forecast 2021-2026 ($ billion)
- Exhibit 88: Chart on United Arab Emirates – Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on United Arab Emirates – Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 90: Market opportunity by geography ($ billion)
8. Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.1.1 Increasing demand for digital artworks
- 8.1.2 Growing investment in digital assets
- 8.1.3 Security and ownership of digital assets
- 8.2 Market challenges
- 8.2.1 Uncertainty of the NFT market
- 8.2.2 Threat from cyberattacks
- 8.2.3 Legal and regulatory challenges associated with the NFT market
- 8.3 Impact of drivers and challenges
- Exhibit 91: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
- 8.4.1 Growing number of big brands entering the market
- 8.4.2 Emergence of fractionalized NFTs
- 8.4.3 Growing application of AI in the market
9. Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
- The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
- 9.3 Landscape disruption
- Exhibit 93: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 94: Impact of key risks on business
10. Vendor Analysis
- 10.1 Vendors covered
- Exhibit 95: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 96: Matrix on vendor position and classification
- 10.3 Binance Services Holdings Ltd.
- Exhibit 97: Binance Services Holdings Ltd. – Overview
- Exhibit 98: Binance Services Holdings Ltd. – Product / Service
- Exhibit 99: Binance Services Holdings Ltd. – Key offerings
- 10.4 Dapper Labs Inc.
- Exhibit 100: Dapper Labs Inc. – Overview
- Exhibit 101: Dapper Labs Inc. – Product / Service
- Exhibit 102: Dapper Labs Inc. – Key offerings
- 10.5 Decentraland Foundation
- Exhibit 103: Decentraland Foundation – Overview
- Exhibit 104: Decentraland Foundation – Product / Service
- Exhibit 105: Decentraland Foundation – Key offerings
- 10.6 FTX Trading Ltd.
- Exhibit 106: FTX Trading Ltd. – Overview
- Exhibit 107: FTX Trading Ltd. – Product / Service
- Exhibit 108: FTX Trading Ltd. – Key offerings
- 10.7 Funko Inc.
- Exhibit 109: Funko Inc. – Overview
- Exhibit 110: Funko Inc. – Product / Service
- Exhibit 111: Funko Inc. – Key news
- Exhibit 112: Funko Inc. – Key offerings
- 10.8 Gemini Trust Co. LLC
- Exhibit 113: Gemini Trust Co. LLC – Overview
- Exhibit 114: Gemini Trust Co. LLC – Product / Service