In 2021, the Non-Fungible Tokens (NFT) analytics tools market had a total revenue of US$124.7 Million. By 2032, the market for NFT analytics tools is anticipated to reach US$ 506.2 million, expanding at a CAGR of 13.7% between 2022 and 2032.
The report projects that the market will be valued US$139.8 million by the end of 2022. Future Market Insights predicts that key developments like Adobe’s acquisition of Figma as well as the advantages of both firms’ products may have an impact on producers in the near future. For instance, Adobe owns Behance, a site that enables users to connect their NFTs and Bitcoin wallets to their profiles, and Figma offers startup kits for NFT developers.
Due to the ownership and provenance evidence that lies at the core of NFTs, they can assist companies across a wide range of industries with their operations. Collections also have access to a potent branding strategy that enhances their public image by providing commercial rights to NFT owners for assets.
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Key Takeaways: Non-Fungible Tokens (NFT) Analytics Tools Market
- By Tool Type, the Mobile NFT Analytics Tool segment is growing dominantly with a CAGR of around 16.4% between 2022 & 2032.
- By End User, the Individual Users is growing dominantly with a CAGR of around 12.7% between 2022 & 2032.
- By Region, North America Non-Fungible Tokens (NFT) analytics tools market in 2021 was holding the highest market share of around 35.2%, whereas the East Asia region is estimated to grow at a CAGR of around 12.1% in the forecast period.
“The NFT analytics tools allow users to track the prices of NFTs, get insights into the NFT market, and help to find out which NFTs are rare and profitable for users. With help of the NFT analytics tool, users can get time-to-time alerts which helps them for profitable investments” says FMI analyst.
Why is the Demand for NFT Analytics tools increasing?
NFT trading is a growing exponent as it has become highly popular with the introduction of NFT platforms. The procedure for buying NFTs has also become easier, resulting in higher adoption of NFTs by general consumers. With cryptocurrency exchanges increasingly allowing NFTs, the number of users purchasing and trading is expected to increase. NFT transactions are associated with significant and hidden gas charges that most first-time users are
unaware of, which creates a restrain for the market. But, with the help of NFT analytics tools, the user can gather or collect information about hidden gas fees which helps them to save their money. Due to such factors, the demand is NFT analytics tools is increasing during the forecast period.
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NFT Analytics Tools Outlook by Category
Global Non-Fungible Tokens (NFT) Analytics Tools Market Outlook Tool Type:
- Web-based NFT Analytics Tool
- Mobile-based NFT Analytics Tool
By End User, Non-Fungible Tokens (NFT) Analytics Tools Market Outlook is segmented as:
- Individual Users
- Commercial/Business Users
By Region, the Non-Fungible Tokens (NFT) Analytics Tools Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East and Africa (MEA)
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