According to , the U.S. Metaverse market is expected to grow to $110.44 billion by 2028. Latest metaverse report By research and market.
According to our analysis, the $16.69 billion US market is poised for impressive growth, with a projected compound annual growth rate (CAGR) of 37%. As detailed in the report, this significant increase is driven by significant investments in advanced technology and significant changes in Gen Z and Alpha metaverse usage. Research and Markets attributes this momentum to the synergistic application of virtual reality (VR), augmented reality (AR), artificial intelligence (AI), machine learning (ML), blockchain, and 5G technologies .
This report details the future evolution of the Internet: the metaverse, a unified 3D virtual space where the digital and physical worlds merge. The Metaverse is in its infancy and is rapidly playing a critical role in the business environment, providing real-time insights while fostering collaborative and innovative ventures.
Research and the market highlight aggressive efforts by many industries to blend digital and physical experiences, particularly in customer support. This integration is said to be driven by technologies such as digital twins and 3D reconstruction, and boosted by advances in 5G infrastructure. The report cites the Metaverse Global Congress held in June 2022 as a case in point, demonstrating the Metaverse's potential to revolutionize business operations and enhance customer engagement.
The report also identifies the growing use of cryptocurrencies for purchasing digital assets as a key growth driver in the United States. It also highlights how important cryptocurrencies and non-fungible tokens (NFTs) are in supporting blockchain-based Metaverse platforms, allowing users to create and own them. , trade digital assets in a novel way.
Alongside digital assets, the adoption of AR and VR in the media and entertainment sector is being driven by the development of realistic virtual environments, improving the user experience, especially in games. The report notes that major market players are making significant investments and increasing demand for Mixed Reality Devices, driving revenue growth in the market.
To back up this data, the Meta Quest VR headset is sold out 20 million unitsis advantageous compared to Over 32 million PS5 sales. Strong sales like this are critical to Metaverse Experience's potential growth, given the historically niche view of VR hardware. Furthermore, the announcement of Apple Vision Pro in early 2023 only increased the excitement in the possibilities of both VR and AR.
The Research and Markets report further delves into market trends and developments, including the adoption of generative AI technologies, decentralization, and innovations in communications infrastructure as vital tools for growing the metaverse. The report also highlights the challenges facing the market, such as cybersecurity threats and high costs associated with installing and maintaining metaverse components.
In conclusion, research and market report provides a detailed and exciting overview of the US Metaverse market outlook, showing that this market is a rapidly evolving and highly influential sector of the digital economy, and it is definitely not dead. Masu.