Richmond, Dec. 18, 2023 (GLOBE NEWSWIRE) -- According to a research report "Metaverse in Gaming Market”, by Component (Service, Hardware, Software), Technology (AR & VR, MR, Blockchain, Artificial Intelligence (AI), Others), Age Group (Below 21 Years, 21 - 35 Years, 36 - 50 Years, 51 Years and Above), Game genre (Action, Adventure, Casual, Role-playing, Simulation, Sports & Racing, Strategy), and Region - Global Forecast to 2030.
Global Metaverse in Gaming Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 36.0 Billion |
| Market size value in 2030 | USD 351.9 Billion |
| CAGR (2023-2030) | 38.5% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Technology, Component, Age Group, Game genre and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Metaverse in Gaming Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The gaming market has experienced a transformative shift with the emergence of the metaverse, a virtual reality space that integrates physical and digital realms. This phenomenon represents a paradigm shift, transcending traditional gaming experiences into immersive, interconnected virtual universes. The metaverse in gaming is characterized by persistent environments where users engage in social interactions, create, trade virtual assets, and seamlessly navigate diverse virtual worlds. This evolution is fueled by advancements in technologies like virtual reality and augmented reality, fostering an unprecedented level of user engagement. The metaverse in gaming introduces a novel dimension to the industry by offering not only entertainment but also a dynamic platform for socialization, collaboration, and economic activities. Virtual economies within these metaverses allow users to buy, sell, and trade virtual goods, creating intricate ecosystems. Companies in the gaming sector are actively exploring and investing in metaverse concepts, reshaping the landscape of online gaming. Popular games are evolving to align with the metaverse vision, providing users with opportunities to not only play but also co-create content, contributing to the ever-expanding virtual universe. As the metaverse continues to gain prominence, it holds the potential to redefine the future of gaming, turning it into a multifaceted, interconnected digital experience.
Major Vendors In The Global Metaverse In Gaming Market:
Razer, HTC, Adobe, Samsung, Epic Games, Seiko Epson, Apple, Nextech AR Solutions, Qualcomm, TaleCraft, Activision Blizzard, Deloitte, Tencent, Lenovo, Take-Two, ZQGame, Microsoft, Valve, Sandbox, Tech Mahindra, Meta, EON Reality, Sony, Decentraland, ByteDance, Netease, Nvidia, Accenture, Autodesk Inc., Ansys, Google, Electronic Arts, HPE, Roblox, VRChat, Panasonic, Intel, Somnium Space.
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The emergence of Virtual Reality (VR) and Augmented Reality (AR)
The Metaverse in the gaming market is propelled by the remarkable emergence of Virtual Reality (VR) and Augmented Reality (AR), ushering in an era of unparalleled immersive experiences. Technological advancements in VR and AR have revolutionized the way users interact with digital content, creating a seamless blend of virtual and real-world elements. VR provides users with an entirely immersive environment, transporting them to a digital realm where they can engage with games and other users in ways previously unimaginable. On the other hand, AR overlays digital information onto the real world, enhancing the user's perception and interaction with their surroundings. The integration of VR and AR technologies in gaming not only enhances the visual and auditory aspects of the gaming experience but also introduces a new level of interactivity and engagement. Users can now physically move within virtual spaces, manipulating and interacting with digital objects as if they were part of the physical environment. This heightened sense of presence and immersion aligns perfectly with the metaverse concept, where users seek rich, lifelike experiences. Moreover, VR and AR technologies contribute to the social aspect of the metaverse by enabling users to interact with each other in shared virtual spaces. Multiplayer VR games and AR-enhanced social platforms create a sense of presence and connection, further fueling the demand for metaverse experiences. As VR and AR technologies continue to advance, the Metaverse in gaming stands to benefit from increasingly realistic and interactive digital environments, reshaping the landscape of the gaming industry.
Market Dynamics
Drivers:
- The emergence of Virtual Reality (VR) and Augmented Reality (AR)
- Brand promotions using gamification and virtual world simulators
Opportunities:
- The growing investment in metaverse technology
- Growing access to high-speed internet globally
The growing investment in metaverse technology
The Metaverse in the gaming market is poised for significant growth, fueled by the escalating investments pouring into metaverse technology. This surge in financial backing reflects a collective recognition of the transformative potential and expansive opportunities within the metaverse space. Investors, ranging from tech giants to venture capitalists, are allocating substantial resources to support the development and evolution of metaverse technologies, indicating a strong belief in the long-term viability of this immersive digital realm. The growing investment in metaverse technology opens up a plethora of opportunities for the gaming industry. Developers can leverage increased funding to explore innovative concepts, pushing the boundaries of virtual reality, augmented reality, and other immersive technologies. This influx of capital facilitates the creation of more sophisticated and feature-rich metaverse experiences, catering to diverse gaming preferences and demographics.
The market for Metaverse in Gaming is dominated by North America.
North America stands as the dominant segment in the Metaverse in Gaming Market, driven by a convergence of technological infrastructure, widespread digital adoption, and a robust gaming culture. The region's advanced technological landscape, including high-speed internet connectivity and access to cutting-edge devices, facilitates a seamless integration of the metaverse into gaming experiences. Major tech hubs and gaming industry leaders based in North America contribute to the region's dominance, fostering innovation and pushing the boundaries of metaverse technology. Moreover, a large and engaged gaming community, coupled with a willingness to embrace emerging technologies, propels the growth of the Metaverse in Gaming Market in North America. As a result, the region continues to serve as a focal point for metaverse development, adoption, and market leadership, shaping the trajectory of the gaming industry's digital evolution.
The strategy Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Based on game genre the Metaverse in Gaming market is segmented into Action, Adventure, Casual, Role-playing, Simulation, Sports & Racing, Strategy. The strategy game genre emerges as a dominant segment in the Metaverse in Gaming Market, driven by the genre's inherent complexity and the immersive possibilities offered by the metaverse environment. Strategy games, known for their intricate gameplay and decision-making challenges, find a natural fit within the metaverse, where players seek deep and engaging experiences. The metaverse enhances strategic gaming by providing a persistent, interconnected virtual space for players to collaborate, compete, and strategize in real-time. The social and economic elements of the metaverse amplify the strategic genre, allowing players to form alliances, engage in virtual economies, and participate in large-scale, strategic battles. As users increasingly crave intricate and socially dynamic gaming experiences, the strategy game genre, within the metaverse, emerges as a frontrunner, shaping the landscape of digital gaming with its depth, complexity, and capacity for player-driven narratives.
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