”metaverse market” 2023-2031 The research report provides qualitative and quantitative insights into the growth drivers, limitations, opportunities and challenges of the global market. It provides comprehensive market data on key players and revenue projections. The report includes revenue growth statistics for various regional and country-level markets, as well as competitive insights and in-depth company analysis during the forecast period. The metaverse market report covers growth drivers, current market shares, adoption of different types, technologies, applications, and regional trends to 2031.
The global metaverse market size was US$62.6 billion in 2021. The global metaverse market is projected to grow to USD 848.8 billion by 2030, registering a compound annual growth rate (CAGR) of 39.1% during the forecast period 2022-2030.
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Factors influencing the market
The growing popularity of the Metaverse will change the landscape of the gaming sector. Apart from that, the artificial intelligence and virtual technology industry is projected to witness a major revolution in the coming years. As a result, it will drive the growth of the global metaverse market.
Companies are also contributing to this trend by investing heavily in developing and programming new and innovative technologies. For example, Facebook, Inc. has announced that he will invest nearly $10 billion in Facebook Reality Labs as he focuses on developing the Metaverse. This investment, made in 2021, aims to develop an innovative and advanced technology metaverse.
Furthermore, the Metaverse is expected to open up new possibilities in the field of education. As a result, it will advance the metaverse market.
The negative effects of the metaverse on personal health and psychology may limit market growth.
Impact analysis of COVID-19
The impact of the COVID-19 pandemic has changed the outlook for many industries. The gaming industry and social media platforms gained significant traction throughout the pandemic period. That’s because of the importance of a work-from-home culture. Moreover, online education has also increased students’ interest in gaming, driving the market forward.
Regional analysis
The Asia-Pacific metaverse market is projected to register robust revenue growth during the forecast period. It is due to the presence of various startups such as Bolly Heroes, OneRare, LOKA and Cope. Studio, Interality, Zippy, NextMeet, Zhongqingbaowang Interaction Network Co., Ltd. (ZQGame), miHoYo Co., Ltd., etc.
Moreover, increasing use of social media contributes to the growth of the Asia-Pacific metaverse market during the forecast period. Companies in the region are also focused on outperforming their competitors. For example, ByteDance Ltd, the developer of the Beijing-based short-video app TikTok, acquired VR Pico Interactive Inc. with the aim of deploying its metaverse. The company aims to do just that with the help of software and hardware from Pico Interactive.
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market competitors
- Facebook Inc.
- NVIDIA Corporation
- Epic Games Inc.
- Nextec AR Solutions Inc.
- Tencent Holdings Co., Ltd.
- Byte Dance Co., Ltd.
- NetEase Co., Ltd.
- Roblox Co., Ltd.
- Unity Technologies Inc.
- lilith game
- microsoft
- other notable players
market segmentation
The global metaverse market segmentation focuses on components, platforms, offerings, technologies, and regions.
By component
- hardware-
- Display; Augmented Reality (XR) Hardware
- tactile sensors and devices,
- smart glasses, omni treadmill
- AR/VR headsets
- software-
- Asset creation tool
- programming engine
by platform
By offering
- virtual platform
- asset marketplace
- Avatar
- financial operations
By technology
- blockchain
- Virtual Reality (VR) and Augmented Reality (AR)
- Mixed Reality (MR)
By use
- game
- online shopping
- content production
- Social media
- meeting
- virtual runway show
- aircraft maintenance
- others
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By use
- fashion
- media and entertainment
- education
- aerospace and defense
- other
Regional outlook
- North America
- America
- Canada
- Mexico
- Europe
- Western Europe
- England
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia and New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of the MEA
- south america
- Brazil
- Argentina
- Rest of South America
table of contents:
- Report overview
- global growth trend
- Competitive Landscape by Major Players
- data segment
- North American market analysis
- European market analysis
- Asia Pacific market analysis
- Latin America market analysis
- Middle East and Africa Market Analysis
- Profile Market Analysis of Key Players
- Analyst Perspective/Conclusion
- appendix
Key questions answered in the report:
- What are the strengths and weaknesses of the major vendors?
- Who are your major gamers and what are your major business plans for the near future?
- What will happen next year’s market rally and readings?
- What are the key factors driving the market?
- What are the key market trends impacting global market expansion?
- Which trending factors are influencing the market share of top regions around the world?
- How is the Russian-Ukrainian crisis affecting modern industry?
- Who are the major gamers and what are their strategies in the international market?
- What are the market opportunities and threats faced by using telecom operators in the global market?
- What industry trends, drivers and challenges are driving that growth?
- What are the key findings of the five forces assessment of the world’s industries?
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