New York, USA, May 30, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR) titled "Metaverse in Real Estate Market: Information Deployment Mode, By Organization Size, And By Region – Market Forecast Till 2032," the Metaverse in Real Estate Market is projected to grow at a rate of 25.72% between 2023 and 2032. The market size is expected to reach approximately USD 14.11 Billion by the end of 2032.
Metaverse in Real Estate Market Synopsis:
The Metaverse Real Estate Market, often known as the Metaverse, is a fast growing virtual real estate trading platform that allows users to create, purchase, and exchange virtual real estate tokens. The Metaverse team, lead by CEO Jeff Garzik, a former Blockstream pioneer, is constructing a decentralised real estate ecosystem that will provide consumers with access to an endless and borderless real estate market.
The Metaverse team's mission is to level the playing field for everyone who wants to access virtual real estate and make it easier to transact in global markets.
Blockstream announced the launch of Real Estate Asset Tokenization (REAT), a new asset tokenization service for real estate, in November 2020. The company's primary goal is to provide a safe and transparent platform for creating and managing asset tokens on the blockchain. The REAT platform simplifies asset tokenization, allowing asset owners to safely tokenize assets and attract funds from a worldwide investor base.
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Market Competitive Landscape:
The affluent companies in the Metaverse in Real Estate industry include:
- Blockstream,
- NFTX,
- Reality Clash,
- Polygon (MATIC Network),
- WAX,
- Decentraland.
Scope of the Report - Metaverse in Real Estate Market:
| Report Metrics | Details |
| Maket Size by 2032 | USD 14.11 billion |
| CAGR during 2023-2032 | 25.72% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
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Market USP Covered:
Market Drivers:
The Metaverse Real Estate Market is quickly expanding as a result of increased blockchain technology adoption, more real estate investment, and increased demand for virtual real estate tokens. Furthermore, industry participants are focusing on developing creative solutions to capitalise on the growing demand for virtual real estate tokens. Various services, such as asset tokenization services, blockchain-as-a-service platforms, tokenization services, and others, are also being launched in the market. This is projected to contribute to market growth throughout the forecast period.
Market Restraints:
The increasing adoption of blockchain technology is one of the primary trends fueling the expansion of the Metaverse Real Estate Market. This is because blockchain-based real estate transactions provide enhanced security and transparency. Furthermore, blockchain technology provides an immutable audit trail, which aids in the elimination of fraud and the reduction of settlement times.
Another important development is the increase in real estate investment. This is due to the growing demand for virtual real estate tokens, which may be used for a variety of applications such as capital investment, asset ownership, and real estate tokenization. Furthermore, when demand grows, investors can deal rapidly and securely without having to use traditional banking procedures.
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COVID 19 Analysis:
The ongoing COVID-19 pandemic has also impacted the Metaverse in Real Estate market. With remote work becoming the new normal, there has been an increased demand for cloud-based HR management solutions that can provide remote access to employee data. The pandemic has also highlighted the need for employee engagement and well-being, which can be addressed with the help of Metaverse in Real Estate.
The post-COVID scenario is expected to see a surge in the adoption of Metaverse in Real Estate as organizations look to streamline HR processes, reduce operational costs, and improve employee engagement. Moreover, the integration of advanced technologies such as AI and machine learning is expected to revolutionize the Metaverse in Real Estate market, enabling predictive analytics and providing more data-driven insights for effective workforce management.
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Latest Industry Updates :
March 2021: Polygon (MATIC Network) announced the introduction of its new Blockchain-as-a-Service Platform (BaaS), allowing developers and organisations to effortlessly establish and manage real estate.
Market Segmentation:
The Metaverse Real Estate Market can be divided into two categories: kind and application. The market is divided into three types: residential, commercial, and industrial. Due to the growing number of people purchasing and selling virtual real estate tokens, residential real estate is likely to be the largest segment during the forecast period.
Meanwhile, the application section covers things like settlement services and tokenization. Because of the increasing need for tokenization services in the real estate sector, tokenization services are expected to be the largest segment over the projection period.
Regional Insights:
The Metaverse Real Estate Market is divided into four regions: North America, Europe, Asia Pacific, and the rest of the world. During the projection period, North America is likely to remain the largest market for Metaverse Real Estate. This is due to increased investment in the virtual real estate sector and the region's growing embrace of blockchain technology. Due to increased investments in the virtual real estate sector and an increasing number of startups in the region, Asia Pacific is predicted to be the fastest expanding region for Metaverse Real Estate throughout the projection period.
The Metaverse Real Estate Market is extremely competitive, with several large businesses competing for a piece of the pie. These firms are concentrating their efforts on developing novel solutions to capitalise on the growing demand for virtual real estate tokens. They are also committed to delivering enhanced security, cutting-edge technology, and faster transaction speeds.
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