Market Cap of DePIN Sector Exceeds $50 Billion

The popularity of the decentralized physical infrastructure network (DePIN) sector grew significantly. As of 2024, there are about 1,500 projects, with a total market cap of more than $50 billion. 

According to a report by investment company MV Global, the DePIN sector is rapidly developing and has a potential to become a new catalyst for growth in the crypto industry, increasing the number of Web3 users. The report highlights that, as of 2024, there are about 1,500 different DePIN projects.

MV Global analysts note that the total capitalization of DePIN protocols crossed $50 billion. The majority of projects are aimed at decentralizing real infrastructure such as communication networks, data centers, and energy markets. In 2023, more than 600,000 new nodes were added, largely through mobile device integration. Analysts predict the launch of many new DePIN protocols over the next 6–12 months.

Among key growth drivers for the DePIN sector, MV Global analysts outline the following:

• lower infrastructure costs;
• overcoming the “cold start” problem for resource-intensive networks;
• decentralization of physical and digital resources;
• reduced infrastructure deployment costs compared to centralized solutions;
• scalability and rapid adaptability to local needs due to decentralized structures;
• reduced risks associated with centralized management;
• growing computing and storage needs;
• support for local networks and generation of unique datasets;
• integration potential with traditional systems.

The report also states that DePIN technologies encompass a variety of use cases for reshaping physical infrastructure, directly impacting the growing demand for decentralized storage and computing solutions. According to the report, the cloud storage market could reach $128 billion by 2028.

Telecom giants such as World Mobile and Telefónica are already leveraging DePINs.