Global Metaverse Market to Reach US$758.6 Billion by the Year 2026. Roblox, an online gaming company, flaunts immersive virtual reality landscapes, growing repertoire of user developed games and virtual spaces that have successfully hosted and monetized live concerts using independent digital currency. Musical experiences and concerts from the music company's star-studded roster of musicians, including Bruno Mars, Ed Sheeran, Dua Lipa, and Cardi B, will be featured in the virtual theme park. Due to a growing focus among firms on producing products that provide a better user experience and enable more extended user immersion, the hardware segment is expected to account for the largest revenue share during the projected period. The hardware segment accounted for USD 16.58 billion in 2021 and is expected to expand at a CAGR of over 38.0%. The asset marketplace segment is expected to grow at the highest CAGR of 40.0% during the forecast period, owing to the increased investments made in bitcoins, NFTs, Ethereum, and other cryptocurrencies. Please wait while we are processing your request Metaverse Market Size, Share & Trends Report, 2030. The Asia Pacific region is expected to register a very strong CAGR over the forecast period. Cryptocurrencies are used to connect the physical and virtual worlds. Metaverse is the latest buzzword that has been capturing the imagination of the tech industry and holds significant potential in creating tremendous growth opportunities for marketers by allowing them to deliver advanced immersive and interactive digital experiences to their customers. Between 2022 and 2030, the desktop segment accounted for the largest revenue share, followed by the headset. Architecture software design firm Autodesk is exploring its 3D design capabilities to create virtual prototypes for AR and VR applications of metaverse. The country currently accounts for a 41.2% share in the global market. The other segment includes artificial intelligence (AI), IoT, 3D reconstruction, brain-computer interface, machine learning, 5G, etc. Copyright 2022 Grand View Research, Inc. All rights reserved. The formal agreement was revealed at a ceremony hosted by Bytedance in Beijing during the Global Festival of AI, which included representatives from both organizations. Based on offering, the global market is segmented into asset marketplaces, virtual platforms, avatars, and financial services.
The company bought Guilded that engages in integrating online gaming platforms. NFTs and online events are booming creating a universe of opportunities for the metaverse and related technologies. To obtain a competitive advantage, many organizations are now employing content creation to market their brand and product portfolio. b.
Warner Music Group (WMG) would be taking its initial steps into themetaverse and NFTsector with this alliance, In November 2021, Tencent Holdings, Ltd announced that it has partnered with The Asian Institute of Digital Finance.
It is expected to expand at a compound annual growth rate (CAGR) of 39.4% from 2022 to 2030. The MarketWatch News Department was not involved in the creation of this content. During the projection period, Europe is predicted to be the fastest-growing market, with the highest CAGR. Pursuing knowledge will be redesigned to include an interactive experience complemented by digital records in the metaverse, rather than just words, images, and lectures available on demand. Business-to-business (B2B) marketing includes trade exhibitions, product demos, client meetings, customer service, and commercials. Smartphone popularity is increasing, and it israpidly becoming the most prominent way to connect to the metaverse. Because of the development of various gadgets and solutions, user experiences have improved dramatically. In the year 2020, tech corporations began developing this technology and announced their investments. Furthermore, rising smartphone penetration and growth in the rate of app developers are likely to boost revenue growth in this segment in the future. The metaverse market has been divided into three categories depending on the platform: mobile, desktop/laptops, plus wearables. Smartphones and mobile networks have made access to the metaverse unrivaled and near-constant.
To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. The metaverse now has the power to drastically modify each of these things. The metaverse is a rapidly expanding trend with a significant user base for a variety of applications including learning and training, gaming, social interaction, content creation, and online virtual shopping. The COVID-19 pandemic played a significant role in stimulating interest in the metaverse concept. Downloading, uploading, and sharing large amounts of data in networked cyberspace is becoming increasingly common. Extended Reality (XR) components sub-segment is further divided into haptic sensors & devices, smart glasses, and omni treadmills. The metaverses currency is a cryptocurrency and every metaverse has its collection of coins.
According to C-level executives of the leading metaverse solution providers, depending on the percentage share of the digital economy shifting to the metaverse and the percentage of total addressable market expansion, the potential market opportunity for the metaverse is estimated to be between USD 3.75 trillion and USD 12.46 trillion. email@example.com In October 2021, Facebook Reality Labs was estimated to spend at least USD 10 billion on the development of Augmented Reality (AR) and Virtual Reality (VR) hardware, software, and content. Free business intelligence platform with subscription, 4. For instance, Meta Platform, Inc Meta Platform, Inc unveiled a lineup of major virtual reality concerts that took place completely on its Horizon Venues metaverse. Blockchain Market By Providers (Application Providers, Middleware Providers), By Application (Supply Chain Management, Exchanges, Digital Identity), By Vertical (Travel And Hospitality, Healthcare And Life Sciences), By Geography, Forecast, 2021-2028, Next-Generation Memory Market By Technology (Volatile and Non-volatile), By Type (Mass Storage and Embedded Storage), By Application (Consumer Electronics, Enterprise Storage), By Geography, Forecast, 2021-2028, Industry 4.0 Market By Technology (Augmented Reality And Virtual Reality, Internet Of Things, 3D Printing, Artificial Intelligence, Industrial Robotics), By Industry Vertical (Automotive, Electrical And Electronics Equipment, Aerospace, Oil And Gas), By Geography, Forecast, 2021-2028, Augmented Reality Market Size By Component (Software, Hardware), By Type (Marker-less Augmented Reality, Marker-based Augmented Reality), By Device-Type (Head-Mounted Display, Head-Up Display), By Application (Automotive, Energy, Enterprise), By Geography, Forecast, 2021-2028, Top 5 Unmanned Aerial Vehicles Companies offering border surveillance solutions. The market's top companies have made significant expenditures in response to the rising demand for extended reality devices. The major players in the market are Roblox, Meta (Facebook), Microsoft, Unity, Epic Games, ByteDance, Tencent, NetEase, Lilith, miHoYo, ZQGame, Nvidi, and others. Please fill out the form below for a free PDF report sample & This universe is being envisioned as the future of the internet, involving the convergence of augmented reality (AR), virtual reality (VR), and physical worlds in a shared digital space. Contact UsMr. The Transition to Metaverse is imminent. The Metaverse has an interesting side effect of blurring the distinctions between B2B and B2C. The global market for Metaverse estimated at US$107.1 Billion in the year 2020, is projected to reach a revised size of US$758.6 Billion by 2026, growing at a CAGR of 37.1% over the analysis period. Prominent companies that are leading the innovation, technological collaboration and market expansion to race ahead in building metaverse are Facebook, re-branded Meta, Microsoft, Google, Roblox, Nvidia, Unity Software, Fastly. The metaverse industry is divided into VR & AR, blockchain, mixed reality, and many others depending on technology. Contact the source provider Comtex at firstname.lastname@example.org. It would also provide the framework for the next chapter of post-COVID digital activity, the emergence of digital social experiences. The metaverse is the emergence of fresh online settings in which peoples interactions are highly multidimensional, and they can participate more meaningfully with digital content rather than simply reading information. You can also contact MarketWatch Customer Service via our Customer Center. However, the demand for VR and AR devices is expected to exhibit substantial growth in the coming years. With the pandemic giving a much-needed impetus to a changing global perspective of interaction and immersive socialization, the conversation around metaverse has re-emerged and with the likes of Meta, Google and Microsoft joining the bandwagon, the dialogue got stronger and is headed towards actualization in terms of rising interest in funding projects, expanding outreach of technological collaborations, changing paradigms in market place, and an overwhelming response from users. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Mixed reality is when people can interact directly with metaverse surroundings in a physical area. Which segment accounted for the largest Metaverse market share? Additionally, much development is happening in the infrastructure, content creation, gaming interface development, cloud and edge computing. Our support available to help you 24 hours a day, five days a week. From 2022 to 2030, it is predicted to increase at a 45.2 percent compound annual growth rate (CAGR). Furthermore, the strong presence of gaming and metaverse businesses such as The Sandbox, Nvidia Corporation, and Epic Games, Inc. in the region, which is concentrating on incorporating metaverse into games, is creating market growth potential. Is there a problem with this press release? The hardware segment is sub-segmented into displays, eXtended Reality (XR) components, and AR/VR headsets. VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Companies can use this to grow their traditional consumer bases while avoiding corporate traditions. AR and VR technology is being utilized in the gaming industry to make the game more realistic and to provide a better gaming experience. The software segment is sub-segmented as asset creation tools and programming engines. A Few Erotic Hollywood Flops, People will freak out: The cloud boom is coming back to Earth, and that could be scary for tech stocks.
As per industry experts, the metaverse is likely to infiltrate a variety of businesses in a variety of ways in the future years, with the entire addressable market predicted to be worth far beyond USD 1 trillion in annual revenues. At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. China, the world`s second largest economy, is forecast to reach an estimated market size of US$103.1 Billion in the year 2026 trailing a CAGR of 38.1% through the analysis period. Component, platform, technology, application, as well as end-user are all segments of the worldwide Metaverse market. Free upgrade to enterprise license (allows to share across all company locations), 5. BFSI, media & entertainment, retail, engineering, education, aerospace & military, real estate, healthcare, and the others are among the enterprises segments. Market Overview. The COVID-19 pandemic has positively impacted the metaverse market, which has potentially improved many industries.
Alphabet, Google`s holding company, is developing augmented reality enabled videoconferencing using smart glasses.3D video game engine leader Unity Software is working on seamlessly integrating multiple platforms, creating metaverse presence and enhancing the portability of content across ecosystems. One of the metaversespromising prospects is that it is vastly increasing access to the marketplace for consumers in emerging and frontier economies. A growing focus on integrating the digital and physical worlds using the Internet, increasing momentum and popularity of Mixed Reality (MR), Augmented Reality (AR), and Virtual Reality (VR), are all expected to drive the Metaverse Market growth. According to industry experts, the COVID-19 pandemic catalyzed metaverse technology, and the post-pandemic environment is predicted to pique customer interest. To ensure the most secure and best overall experience on our website, we recommend the latest versions of, "Metaverse - Global Market Trajectory & Analytics", https://www.researchandmarkets.com/r/ncoo9z. The metaverse market has been divided into games, content creation, online shopping, social media, as well as other applications, depending on the application. Thus, the segment is predicted to contribute significantly to the overall Metaverse industry. Key factors that are driving the Metaverse market growth include rising demand for virtual assets, increasing usage of Non-Fungible Tokens (NFTs) to trade digital assets, growing focus on developing metaverse platforms for diverse applications by tech giants, and rapid development of Decentralized Finance (DeFi) applications. The introduction of innovative hardware solutions supporting the virtual world metaverse is anticipated to propel the business in the future. In addition, according to the United Nations, the global digital economy represented 15.5% of total GDP in 2018, which led to a forecast of 15% to 16.8% by 2021. This Clark Kent look-alike stole the show during the latest Jan. 6 hearing, Does Sex Always Sell? For U.S./CAN Toll Free Call 1-800-526-8630 These virtual metaverse marketplaces and gaming platforms offer an immersive experience where users can participate in live and concurrent activities powered by their chosen third-party apps. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. The metaverse platform elevates the internet experience by establishing a virtual world in which users can engage in immersive gaming, conduct business, socialize,buy and sell virtual real estate, and enjoy immersive entertainment, among other things. Copyright 2022 MarketWatch, Inc. All rights reserved. The pandemic heightened its importance among consumers and businesses alike. Other musicians and media content firms collaborating with musicians are more likely to experiment with virtual reality and broadcast content online instead of attending live concerts because of the endless possibilities. Based on end-use, the global market for metaverse is divided into Banking, Financial Services, and Insurance (BFSI), retail, media and entertainment, education, aerospace and defense, automotive,and others. https://www.marketresearchfuture.com/sample_request/10744, https://www.marketresearchfuture.com/reports/metaverse-market-10744, GameStop starts split-adjusted trading with a near 2% gain. Based on application, the market is divided into gaming, online shopping, content creation & social media, events & conferences, content creation,digital marketing (advertising), testing and inspection, and others. Aircraft mechanics and MRO technicians can learn to inspect different elements of the aircraft using virtual reality and augmented reality without ever leaving their desks. North America is expected to make the largest contribution to the metaverse industry. Concerns about data security and privacy in metaverse environments, issues about user identity, and challenges ofpersuading users to use payment services in these settings are some key factors that are expected to stifle global metaverse market revenue growth to some extent during the forecast period. b. To improve the realism of virtual worlds, companies are also working to develop more advanced hardware, such as VR/AR headsets, haptic devices, and sensors. Current efforts to building metaverse centred around peaceful coexistence of stakeholders irrespective of their size and promote decentralized division of power and accelerates the transition to web 3.0. As a result of significant projects such as AEGLE (a European analytics framework for combined and personalized healthcare services) as well as Meaningful Integration of Data, Analytics, and Services, the metaverse industry is anticipated to gain traction in Europe (MIDAS). The metaverse platform improves the internet experience by creating a virtual world in which users may conduct business, socialize, buy and sell virtual real estate, plus experience immersive entertainment, among many other things. Virtual desktop is a program that allows users to utilize the computer in virtual reality using the HTC Vive, Oculus Rift / Rift S,WMR headsets, and Valve Index. They allow us to calculate the worth of digital assets in the government-issuedcurrency as well as the returns on those assets over time.