press release
Issued June 6, 2023
Market scope and overview
As reported by SNS Insider, metaverse market is valued at US$57.12 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 39% from 2023 to 2030, reaching a total of US$796 billion.
The term “metaverse” refers to the way in which users interact in real-time with computer-generated environments and other participants, often using immersive technologies such as virtual reality (VR) and augmented reality (AR). It refers to a virtual reality space where you can Think of it as a collective virtual shared space that encompasses a variety of digital platforms, applications, and experiences.
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Major leading companies included in the report are:
- meta platform
- Tencent Holdings Co., Ltd.
- Byte Dance Co., Ltd.
- NetEase
- NVIDIA Corporation
- epic games
- Roblox Co., Ltd.
- unity technologies
- Lilith Games Nextec AR Solutions Corp
- sandbox active theory
- Decentraland
- microsoft
- others
market analysis
Decentralization has ushered in a new era of user empowerment, interconnectivity and innovation in the digital realm. Driven by the adoption of decentralized blockchain networks, the Metaverse marketplace is poised for significant growth, promising users unlimited and immersive experiences. Demand for advanced social media and gaming platforms will continue to grow exponentially as the world moves toward a decentralized Internet with Web 3.0. The future holds enormous opportunities for individuals to shape and explore interconnected virtual environments beyond the boundaries of traditional online experiences.
recession impact
A recession can bring challenges to the market, but it also presents opportunities for adaptation and growth. Stakeholders in the Metaverse ecosystem should be mindful of changes in consumer behavior, investor sentiment, and evolving market dynamics. By embracing innovation, focusing on user needs, and demonstrating resilience, markets can weather the storm and continue their transformational journey in the digital realm.
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Segmentation analysis
As the metaverse market continues to evolve, the blockchain and gaming space is poised to dominate due to its unique capabilities and synergies with virtual worlds. Blockchain technology ensures secure ownership records, establishes a decentralized economy, empowers creators, and enables new forms of commerce within the metaverse. With immersive experiences and play-to-earn mechanics, the games will captivate users and drive engagement, further fueling the growth of the metaverse. By embracing these segments, the Metaverse is reshaping industrial, economic and social interactions to usher in a new era of digital innovation and possibilities.
Local situation and analysis
North America region poised to play a pivotal role in the burgeoning Metaverse market, primarily due to heavy investments in cutting-edge technologies such as artificial intelligence (AI), augmented/virtual reality (AR/VR) and blockchain is in order. These advances have facilitated the expansion of metaverse providers and have provided significant government support to ensure compliance with regulatory frameworks. As a result, industry growth has accelerated significantly.
Conclusion
The Metaverse marketplace has great potential for the future and will revolutionize the way we interact, work and have fun in the digital realm. As a virtual reality (VR) and augmented reality (AR) environment, the Metaverse combines the real and virtual worlds to create immersive experiences and opportunities for social connection, commerce and creativity.
Frequently Asked Questions / Top Reasons to Buy This Report
- What are the growth projections for the metaverse market?
- The metaverse market is projected to reach a staggering value of US$796 billion by 2030.
- What are the key factors impacting the Metaverse market?
- Rapid advances in technology, especially in areas such as virtual reality (VR), augmented reality (AR), artificial intelligence (AI), cloud computing, and high-speed internet connectivity have paved the way for the development of the Metaverse.
- Who Are the Key Players in the Metaverse Market?
- Meta Platforms, Inc., ByteDance Ltd., Tencent Holdings Ltd, NetEase, Inc., Epic Games, Inc., Decentraland, Nvidia Corporation, Roblox Corporation, Lilith Games Nextech AR Solutions Corp, Unity Technologies, Inc., The Sandbox Active Theory , Microsoft
Table of Contents – Key Points
- prologue
- research method
- Market trend
- impact analysis
- Impact analysis of COVID-19
- Effects of the Ukrainian-Russian War
- Impact of the ongoing recession on major economies
- Value chain analysis
- Porter’s 5 Force Model
- PEST analysis
- Metaverse Market Segmentation, By Product
- Metaverse Market Segmentation by Platform
- Metaverse Market Segmentation (By Technology)
- Metaverse Market Segmentation (By Offering)
- Metaverse Market Segmentation by Application
- Metaverse Market Segmentation by End Use
- Regional analysis
- Company Profile
- competitive environment
- Conclusion
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