As concerns of centralization, privacy and data ownership continues to grow, more and more entities and users alike will start using decentralized services powered by protocols that rely on decentralized physical infrastructure.
DePIN is one of the hottest narratives going into the 2024 markets. The 2024 Binance Research report is bullish on DePIN:
“Decentralized Physical Infrastructure (“DePIN”) is one of the most interesting innovations in the crypto world and something to keep a close eye on in the coming year.”
Global market share for the top 10 traditional cloud services is estimated at over a trillion USD in market value. The growth potential of DePIN can prove itself to be very fruitful.
AWS alone saw over 2900% growth over the last decade as shown below.
Given the current growing market demand for decentralized digital storage & computational services, Nuvola & others in the DePIN space can be speculated to have a similar growth trajectory to AWS over the next several decades.
