Primus Partners’ Report Highlights Web3’s Strong Potential to Impact Industries Worth $1 Trillion by 2029

19th February 2025: India is rapidly emerging as a global frontrunner in the Web3 space, with the technology poised to impact industries valued at over $1 trillion, according to a new report by Primus Partners. The report titled,’Web3 in 2025: Key Trends and Potential Use Cases to Watch Out For’ reveals its growing popularity in sectors like agriculture, healthcare, logistics, and media, with India playing a pivotal role in driving Web3’s global evolution.

Web3 is revolutionizing sectors with its decentralized solutions, which enable greater transparency, security, and efficiency in operations. In India, more than 60% of corporations are either currently researching or implementing Web3’s block chain technologies to streamline activities, build trust, and reduce operational costs. The country has a good share of developers amongst the global Web3 community. With widespread and mainstream adoption expected to occur by the end of 2025, Web3 is set to impact industries valued at over $1 trillion.

Key Insights include:

· India’s Web3 Developer Share: India leads the global Web3 developer community with 12%, ranking first among emerging markets. In 2024, it attracted the highest number of new crypto developers recorded yet.

· Market Growth: The global Web3 market is projected to reach $23.3 billion by 2028, growing at a CAGR of 43.7% from 2021.

· Investment in Infrastructure: Major platforms and developing ecosystems like Polygon have received over $450 million in funding, while 5ire secured $221 million for block chain interoperability and rapid scaling.

· Regulatory Developments: The EU’s MiCA regulation seeks to establish a broad Web3 crypto framework for over 500 million citizens, while the U.S. crypto task force plans to shape regulations for digital assets worth $1 trillion.

· Adoption Trends: By end of 2025, it is anticipated that 25% of global enterprises will adopt Web3 technologies, up from 5% in 2022.

Web3’s Application Across Industries:

· Agriculture: Block chain can reduce food fraud by 30%, improving traceability and ensuring safer food supply chains.

· Manufacturing & Logistics: Web3 can lower logistics costs by up to 20% by enhancing tracking and efficiency, while block chain cuts paperwork by 50%, making transport operations more streamlined.

· Education: With block chain’s document verification, concerns about the authenticity of academic credentials can be addressed, increasing trust for about 70% of employers.

· Real Estate: Tokenization can reduce transaction costs by 10-15% and speed up the process by 50%, while smart contracts can automate rental payments and reduce late payments by 40%.

· Governance: Block chain-based digital identities would soon be used by close to 1 billion people in providing details for secure verification, while block chain implementation in land registries can reduce chances of duplication, disputes, theft and fraud.

· Healthcare: Block chain can decrease healthcare fraud by 50% and improve patient trust through enhanced data security and transparency.

Government’s and Industry’s Interplay in Promoting Web3 Growth:

The Indian government is actively fostering Web3 growth through initiatives like the Block chain-as-a-Service model developed by the Ministry of Electronics and Information Technology, which provides infrastructure for permissioned block chain applications. It is also developing a regulatory framework and promoting public-private partnerships to unlock Web3’s potential. Also, sector-specific solutions are being created, particularly in agriculture and healthcare, with projects like Vishvasya- Block Chain Technology Stack and the National Block Chain Strategy. These efforts, involving over 30 active government departments, are building a trusted digital infrastructure to support broader Web3 adoption.

Challenges to overcome:

Web3 adoption in India faces deep challenges like regulatory uncertainty, low consumer trust, and complex supply chains. 62.4% of industry leaders call for clearer regulations, while Web3 is still seen as tied to speculative trading. Despite these obstacles, India has a strong foundation for Web3 growth, with block chain and token systems set to drive innovation, transparency, and inclusivity in its digital economy. India is well-positioned to lead the Web3 revolution and transform necessary digital interactions.

Quotes of Thought Leaders:

Shravan Shetty: “India’s proactive steps in nurturing Web3 adoption, such as the Block Chain-as-a-Service model, are pivotal in providing the infrastructure needed to support permissioned block chain applications and drive innovation. Collaboration between public and private sectors is essential for realizing the full potential of Web3 in India, especially in sectors like agriculture and healthcare, where tailored solutions can drive significant advancements.”