The Worldwide Metaverse Industry is Predicted to Reach $678.8 Billion by 2030

DUBLIN, March 29, 2022 /PRNewswire/ — The “Metaverse Market Size, Share & Trends Analysis Report by Product, by Platform, by Technology (Blockchain, Virtual Reality (VR) & Augmented Reality (AR), Mixed Reality (MR)), by Offering, by Application, by End Use, by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.

The global metaverse market size is predicted to attain USD 678.8 billion by 2030.

The market is expected to witness a CAGR of 39.4% over the forecast period, owing to increasing demand from end-use industries, which prominently include media and entertainment, education, and aerospace and defense is anticipated to propel the industry growth over the forecast period.

The metaverse market is also growing due to the steady adoption of XR technologies to enhance user experience on various platforms. The growing demand for metaverse to purchase digital assets using cryptocurrencies is expected to drive the market significantly. The development and distribution of Augmented reality (AR), Virtual Reality (VR), and Mixed Reality (MR) devices are anticipated to spur market growth in years to come.

The prefix “meta” is commonly used in Greek to denote “after” or “beyond.” The metaverse is a three-dimensional interactive and immersive environment where several people can interact through avatars. The usage of the metaverse to purchase digital assets using bitcoin is becoming more popular around the world. Gaming websites, messaging applications, and social media platforms such as Facebook are being used to communicate with one another online. The metaverse is the advent of new online environments in which people’s interactions are more multidimensional and they can engage more deeply with digital content rather than merely reading it.

The metaverse is widely used as a real-time virtual world to build and leverage vast opportunities for brand connection. It would also set the stage for the next phase of post-COVID-19 digital activity, namely the emergence of digital social experiences. On Metaverse platforms that allow blockchain technology to be utilized, users can create, own, and trade autonomous digital assets and virtual regions using cryptocurrencies like Bitcoin and Ethereum, as well as nonfungible tokens (NFTs). During the forecast period, rising demand for blockchain-based metaverse networks and platforms for trading digital assets is expected to drive considerable market revenue growth. One of the major factors driving the future expansion of the metaverse business is the rise of the gaming industry.

Metaverse Market Report Highlights

  • The hardware sub-segment in the product segment dominated the global metaverse market in 2021 and accounted for the largest market share, owing to the increased adoption of AR, VR, and MR devices
  • Displays captured the highest revenue share in the hardware sub-segment in 2021 whereas, programming engines dominated the software sub-segment with the largest market share
  • Desktop and headsets dominated the market with 42.2% and 34.9% of the total revenue shares in 2021, respectively, and are projected to remain the highest revenue-generating segments during the forecast period
  • The VR and AR technology sector held the largest revenue share in 2021 as multiple industries such as gaming, healthcare, education, and entertainment have increasingly incorporated VR and AR technology for numerous purposes. Human resource domains are also incorporating the use of VR and AR devices for employee training
  • In terms of offerings, the virtual platform segment accounted for the largest market share in 2021 and is anticipated to exhibit significant growth, owing to the increased adoption of these platforms for multiple uses such as adverting, branding, and academics. Many key players have also realized that virtual platforms help reduce capital expenditures and operating expenses
  • The gaming segment is projected to dominate the application segment. The content and social media segment is anticipated to witness considerable growth over the forecast period owing to the increased demand for social media applications
  • The North American region accounted for the largest market share in 2021, owing to the high adoption of metaverse platforms
  • The Asia Pacific region is likely to witness a robust growth rate over the forecast period, owing to factors such as demand for a better viewing experience, an increasing number of start-ups like OneRare, LOKA, and Bolly Heroes

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Market Variable, Trends & Scope
3.1. Metaverse Market Dynamics
3.1.1. Market Driver Analysis
3.1.2. Market Opportunity Analysis
3.1.3. Market Challenge Analysis
3.2. Penetration & Growth Prospect Mapping
3.3. Metaverse Market – Value Chain Analysis
3.4. Metaverse Market Industry Analysis – Porter’s
3.5. Metaverse Market Industry Analysis – PEST
3.6. Major Deals & Strategic Alliances Analysis
3.7. Key Market Trends

Chapter 4. Metaverse Market: Product Estimates & Trend Analysis
4.1. Metaverse Market: Product Analysis
4.1.1. Hardware
4.1.1.1. Displays
4.1.1.2. eXtended reality (XR) hardware
4.1.1.2.1. Haptic Sensors & devices
4.1.1.2.2. Omni Treadmills
4.1.1.2.3. Smart Glasses
4.1.1.3. AR/VR Headsets
4.1.2. Software
4.1.2.1. Asset Creation Tool
4.1.2.2. Programming Engines
4.1.3. Services

Chapter 5. Metaverse Market: Platform Estimates & Trend Analysis
5.1. Metaverse Market: Platform Analysis
5.1.1. Desktop
5.1.2. Mobile
5.1.3. Headsets

Chapter 6. Metaverse Market: Technology Estimates & Trend Analysis
6.1. Metaverse Market: Technology Analysis
6.1.1. Blockchain
6.1.2. Virtual Reality (VR) & Augmented Reality (AR)
6.1.3. Mixed Reality (MR)
6.1.4. Others

Chapter 7. Metaverse Market: Offering Estimates & Trend Analysis
7.1. Metaverse Market: Offering Analysis
7.1.1. Virtual Platforms
7.1.2. Asset Marketplaces
7.1.3. Avatars
7.1.4. Financial Services

Chapter 8. Metaverse Market: Application Estimates & Trend Analysis
8.1. Metaverse Market: Application Analysis
8.1.1. Gaming
8.1.2. Online Shopping
8.1.3. Content Creation & Social Media
8.1.4. Events & Conference
8.1.5. Digital Marketing (Advertising)
8.1.6. Testing and Inspection
8.1.7. Others

Chapter 9. Metaverse Market: End-Use Estimates & Trend Analysis
9.1. Metaverse Market: End-Use Analysis
9.1.1. BFSI
9.1.2. Retail
9.1.3. Media & Entertainment
9.1.4. Education
9.1.5. Aerospace and Defense
9.1.6. Automotive
9.1.7. Others

Chapter 10. Metaverse Market: Regional Estimates & Trend Analysis
10.1. Metaverse Market Share By Region, 2021 & 2030
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.3. Europe
10.3.1. U.K.
10.3.2. Germany
10.3.3. France
10.4. Asia Pacific
10.4.1. China
10.4.2. India
10.4.3. Japan
10.4.4. South Korea
10.5. South America
10.5.1. Brazil
10.5.2. Mexico
10.6. Middle East & Africa

Chapter 11. Competitive Analysis
11.1. Recent Developments & Impact Analysis, by Key Market Participants
11.2. Company/ Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
11.3. Vendor Landscape
11.3.1. Key Company Analysis, 2021
11.4. Company Analysis
11.4.1. Company Market Position Analysis
11.4.2. Competitive Dashboard Analysis

Chapter 12. Competitive Landscape
12.1. Meta Platforms, Inc
12.1.1. Company Overview
12.1.2. Financial Performance
12.1.3. Product Benchmarking
12.1.4. Recent Developments
12.2. Tencent Holdings Ltd.
12.2.1. Company Overview
12.2.2. Financial Performance
12.2.3. Product Benchmarking
12.2.4. Recent Developments
12.3. ByteDance, Ltd.
12.3.1. Company Overview
12.3.2. Financial Performance
12.3.3. Product Benchmarking
12.3.4. Recent Developments
12.4. NetEase, Inc
12.4.1. Company Overview
12.4.2. Financial Performance
12.4.3. Product Benchmarking
12.4.4. Recent Developments
12.5. Nvidia Corporation
12.5.1. Company Overview
12.5.2. Financial Performance
12.5.3. Product Benchmarking
12.5.4. Recent Developments
12.6. Epic Games, Inc
12.6.1. Company Overview
12.6.2. Financial Performance
12.6.3. Product Benchmarking
12.6.4. Recent Developments
12.7. Roblox Corporation
12.7.1. Company Overview
12.7.2. Financial Performance
12.7.3. Product Benchmarking
12.7.4. Recent Developments
12.8. Unity Technologies, Inc.
12.8.1. Company Overview
12.8.2. Financial Performance
12.8.3. Product Benchmarking
12.8.4. Recent Developments
12.9. Lilith Games
12.9.1. Company Overview
12.9.2. Financial Performance
12.9.3. Product Benchmarking
12.9.4. Recent Developments
12.10. Nextech AR Solution Corp.
12.10.1. Company Overview
12.10.2. Financial Performance
12.10.3. Product Benchmarking
12.10.4. Recent Developments
12.11. The Sandbox
12.11.1. Company Overview
12.11.2. Financial Performance
12.11.3. Product Benchmarking
12.11.4. Recent Developments
12.12. Active Theory
12.12.1. Company Overview
12.12.2. Financial Performance
12.12.3. Product Benchmarking
12.12.4. Recent Developments
12.13. Decentraland
12.13.1. Company Overview
12.13.2. Financial Performance
12.13.3. Product Benchmarking
12.13.4. Recent Developments
12.14. Microsoft Corporation
12.14.1. Company Overview
12.14.2. Financial Performance
12.14.3. Product Benchmarking
12.14.4. Recent Developments

For more information about this report visit https://www.researchandmarkets.com/r/gbb4vl

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