Global Metaverse Market is valued approximately USD 38.88 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 39.5% over the forecast period 2022-2028 Metaverse is an online world of shared 3D virtual worlds created by the merging of physical and digital worlds. These virtual worlds are made possible by combining cutting-edge technology like augmented reality (AR), virtual reality (VR), real-time 3D, and interactive video. Devices such as AR/VR headsets, cellphones, and PCs are used to access the Metaverse. In social networking, online video games, and live entertainment, the metaverse is rising in popularity. Market players from the social media sector, online gaming marketspace, and other technology areas are already foreseeing a great potential in the metaverse market, with investments soaring up for real-time 3D technology development. Activision Blizzard (US), Electronic Arts (US), Microsoft (US), NetEase, Inc. (China), Nexon Co. Ltd. (Japan), Roblox (US), Take-Two (US), and Tencent (China) are among the online game companies that may contribute to the metaverse market's growth through in-game 3D virtual worlds. Consider the following scenario: The Sandbox announced a partnership with Warner Music Group in January 2022 to develop The Sandbox metaverse's first music-themed realm. With this agreement, Warner Music Group (WMG) will take its first steps into the metaverse and NFT sector. Epic Games, Inc purchased Harmonix Music Systems, Inc in November 2021. The Harmonix team will collaborate closely with Epic Games, Inc to build musical adventures and gameplay for Fortnite, while continuing to support existing platforms such as Rock Band 4. Furthermore, it was anticipated in October 2021 that Facebook Reality Labs invested at least USD 10 billion on the development of Augmented Reality (AR) and Virtual Reality (VR) hardware, software, and content. Meta Platforms, Inc, formerly known as Facebook, Inc, has a section called Facebook Reality Labs. Vendors in the metaverse industry can benefit from opportunities in adjacent areas such as virtual reality, augmented reality, extended reality, cloud gaming, AI in social media, and AR/VR gear and peripherals.
However, the potential of cyber-based attacks targeting the metaverse is a major concern that will stifle market growth between 2022 and 2028.
The key regions considered for the Global Metaverse Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Because of the region's clients and users who are adopting new and more complex technologies, North America is expected to account for the greatest revenue share. Another factor expected to boost the regional market's revenue growth is the growing number of start-ups working on the construction of metaverse platforms for commercialization. Over the projected period, the Asia Pacific region is expected to grow at a very fast rate. A growing number of start-ups and organisations in the Asia Pacific region are expected to drive market expansion, including The Sandbox (Hong Kong), Bolly Heroes (India), Axie Infinity (Singapore), NextMeet (India), GuildFi (Thailand), and Shenzhen Zhongqingbaowang Interaction Network Co., Ltd. (ZQGame Global), and miHoYo Co., Ltd. in China. These virtual metaverse markets and gaming platforms provide an immersive experience in which users can engage in live and simultaneous activities supported by third-party apps.
Major market player included in this report are:
Meta Platforms, Inc.
Tencent Holdings Ltd.
ByteDance Ltd.
NetEase, Inc.
Nvidia Corporation
Epic Games, Inc.
Roblox Corporation
Unity Technologies, Inc.
Lilith Games
Nextech AR Solutions Corp.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Platform offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Platform:
Hardware
Software
By Platform:
Desktop
Mobile
Headsets
By Technology:
Blockchain
Virtual Reality (VR) & Augmented Reality (AR)
Mixed Reality (MR)
Others
By Offering:
Virtual Platforms
Asset Marketplaces
Avatars
Financial Services
By Application:
Gaming
Online Shopping
Content Creation & Social Media
Events & Conference
Digital Marketing (Advertising)
Testing and Inspection
Others
By End-use:
BFSI
Retail
Media & Entertainment
Education
Aerospace and Defence
Automotive
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Metaverse Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
