United States Metaverse Market Intelligence Report 2023:

    Published on:

    DUBLIN, May 2, 2023 (GLOBE NEWSWIRE) — “United States Metaverse Market Intelligence and Future Growth Dynamics Databook – 100+ KPIs Covering Market Size by Sector X Use Case X Technology, Business and Consumer Spending, NFT Spending – Q1 2023” report added of Recruitment.

    The US metaverse industry is expected to grow by 44.1% on an annual basis to reach US$51,435. 7 million by 2023.

    The metaverse industry is expected to grow steadily over the forecast period, registering a CAGR of 32.9% from 2023 to 2030. The country’s Metaverse spending increases from US$35,688. $1 million will reach her US$375,700 in 2022. 0 million by 2030.

    There are many innovations taking place in the US metaverse industry. Ahead of the 2022 holiday season and FIFA World Cup season, more and more brands are revamping their activities in the Metaverse to better engage with their customers. The growing popularity of the Metaverse among US consumers is driving increased investment in emerging technologies.

    According to the Global Metaverse Survey (Q4 2022), more than 28% of US consumers say they are somewhat or very familiar with the Metaverse. Additionally, 18% of consumers would like to explore products in 3D using the metaverse. Although the metaverse industry is still in the early stages of development, with most companies investing in developing infrastructure for virtual worlds, the outlook for the sector remains bright from a short- to medium-term perspective.

    Brands across industries are seeking consumer engagement through innovative metaverse integration and activation in the US.

    In the changing retail landscape, brands are leveraging metaverse technology to increase brand value, accelerate growth, expand offerings, and reach new audiences. Ahead of the 2022 holiday season and FIFA World Cup season, brands are launching innovative metaverse integrations and activations to increase audience engagement.

    In October 2022, one of America’s leading brands, Cheetos, announced the launch of a new immersive Metaverse experience, just in time for Halloween. Frito-Lay launches Centerville, a Cheetos-themed digital suburb developed within Meta’s Horizon Worlds.I

    Within the metaverse, users can earn points by playing games and completing tasks. Alongside the Metaverse games, Frito-Lay also launched his first-ever Web3 campaign in the wake of his 2022 FIFA World Cup. In partnership with PepsiCo and Metaverse platform Atom, the Web3 campaign will allow US FIFA fans to scan his QR code to participate in the Pass the Ball challenge.

    Several other brands, including Visa, Maybelline, PacSun, TCL Electronics, Victoria’s Secret and Co., have started to integrate and activate the Metaverse for their customers. Maybelline, for example, launched a non-shopping virtual space where users can find and explore products.

    In addition, users can participate in events and play games in Maybelline Virtual Lofts. Similarly, Visa has developed a hybrid experience for the upcoming 2022 FIFA World Cup. This is intended to educate people about how Visa enables money to move around the world in new ways.

    From a short- to medium-term perspective, publishers expect more brands across industries to continue to invest in the metaverse segment to reach new audiences and build global brands.

    Companies Expected to Invest Billions of Dollars Toward Metaverse Infrastructure Development

    Dubbed the next big innovation and the future of the internet, giant tech giants continue to invest billions in the market even though their projects haven’t amassed the expected adoption among consumers. increase.

    Meta, formerly known as Facebook, has announced that the company will continue to invest in developing its Metaverse infrastructure, which is expected to reach approximately $100 billion over the next five years.

    The announcement comes at a time when the company experienced a dramatic decline in revenue. Declining ad revenue, increased competition, and other macroeconomic factors have led the company to report declining revenue for his second consecutive quarter, and the trend is expected to continue further into his fourth quarter of 2022. I’m here.

    Meta is also focused on strategic acquisition opportunities to further its Metaverse ambitions. In November 2022, Meta announced that it had acquired UK-based Audio Analytic, which builds AI-powered speech recognition software.

    Additionally, in September 2022, Meta also acquired Loft, a Berlin-based haptic startup that is developing small, discrete wearable devices. These acquisitions are part of the company’s strategy to create an ecosystem that can enhance the customer experience in the Metaverse.

    Publishers expect Meta to close more such strategic acquisition deals in the next three to four years. This will continue to drive investment in the sector from a short to medium term perspective.

    US-based retailer is transitioning to the Metaverse through the launch of a marketplace for collecting and trading virtual goods

    To attract Gen Z consumers and establish themselves as brands in the modern world, US-based retailers are launching their own innovative marketplaces in the country.

    In November 2022, Nike, one of the leading US-based retailers of sporting goods, announced the launch of its metaverse marketplace, .Swoosh. The marketplace allows customers to collect and trade virtual products. The company plans to launch a digital collection on the platform in 2023. Shoppers can try and wear virtual items in digital games and experiences.

    In September 2022, Walmart also announced its move to the Metaverse through a strategic collaboration with Roblox. The US-based retailer has launched two of his Metaverse experiences, Walmart Land and Universe of Play, on the Roblox platform. Walmart Land showcases entertainment, beauty and fashion items, while Universe of Play showcases toys.

    The publisher expects more US retailers to launch Metaverse experiences over the next three to four years to attract new audiences and drive engagement with existing ones.

    Key attributes:

    report attribute detail
    number of pages 183
    Forecast period 2023-2030
    Estimated market value in 2023 (USD) $51.4357 billion
    Projected market value to 2030 (USD) $375.7 billion
    compound annual growth rate 32.8%
    Target area America


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