The North American metaverse market is expected to record a large market share. For huge investments in cutting-edge technologies such as blockchain, AR/VR, and AI. The main drivers of industry growth are the expansion of metaverse providers and increasing government support for regulatory compliance. Many end-user industries including food and beverage, retail, media and entertainment have adopted metaverse solutions, which is another reason why North America is expected to maintain its leadership during the forecast period.

Moreover, Asia-Pacific accounted for a sizeable share of the market. With solid economic growth, many countries including China, India and Japan are adopting digitalization. Asia-Pacific has embraced technological advances much more quickly and enthusiastically than other regions. This includes technology companies, individuals and government agencies. Technological advances such as social networking, amusement, gaming, and increasing digitization, coupled with a strong industrial environment, are contributing to revenue growth in the Asia-Pacific market.

Curious about this latest version of the report? @ https://www.insightaceanalytic.com/enquiry-before-buying/1663

Recent developments:

• Facebook’s parent company, Meta Platforms Inc., will launch a paid membership service called Meta confirmed in February 2023, which includes a range of additional perks and features, including account verification badges. Subscription solutions have gained popularity among social networking sites in recent years as a strategy to diversify their advertising-intensive business.
• In August 2022, Broadcom Inc. and Tencent Holdings Ltd. entered into a strategic agreement to promote the use of co-packaged optical (CPO) network switches for cloud infrastructure. Broadcom offers the 25.6 Tbps Humboldt CPO switch device. It includes Broadcom’s best-in-class StrataXGS® Tomahawk® 4 switch chip directly linked and co-packaged with four 3.2 Tbps Silicon Photonics Chiplets In Package (SCIP) optical engines. part of this cooperation.
• In May 2022, NetEase, Inc. unveiled content upgrades and future plans for over 50 current and upcoming products. NetEase is stepping up its efforts to collaborate with top game creators from different cultural backgrounds. This year, in one of its recent global growth efforts, NetEase established its first US studio, Jackalope Games, and expanded its presence in Japan with the opening of Nagoshi Studios in Tokyo. Both studios are dedicated to bringing exciting his NetEase games to the most popular platforms.
• January 2022 – Sandbox and Warner Music Group announce a collaboration to introduce the first planet of the music-themed sandbox metaverse. The deal marks Warner Music Group (WMG)’s first entry into the Metaverse and NFT markets.
• November 2021 – Tencent Holdings, Ltd. has declared a partnership with the Asian Digital Finance Association. The two companies will cooperate in entrepreneurship, research and education to support the Fintech industry in Asia.

Metaverse Market Segmentation-