Dublin, April 17, 2024 (GLOBE NEWSWIRE) -- The "Metaverse - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Metaverse Market to Reach $980.5 Billion by 2030
The global market for Metaverse estimated at US$90 Billion in the year 2023, is projected to reach a revised size of US$980.5 Billion by 2030, growing at a CAGR of 34.8% over the analysis period 2023-2030.
The concept of "phygital" represents the convergence of the physical and digital worlds, marking a significant milestone in humanity's journey towards digitalization. At the forefront of this evolution is the metaverse, a virtual space where individuals interact and engage with digital environments in real-time.
Metaverse Software, one of the segments analyzed in the report, is projected to record 33.9% CAGR and reach US$588.9 Billion by the end of the analysis period. Growth in the Metaverse Hardware segment is estimated at 37.9% CAGR for the next 8-year period.
The metaverse holds immense importance as it blurs the lines between reality and virtuality, offering endless possibilities for communication, commerce, and entertainment. Signs indicate that the metaverse is rapidly gaining traction, with various stakeholders eyeing its potential. The metaverse value chain comprises key constituents such as technology providers, content creators, and platform operators, all contributing to its growth. The market outlook for the metaverse is promising, driven by factors like the dominance of desktop platforms and the gaming sector.
The U.S. Market is Estimated at $38.5 Billion, While China is Forecast to Grow at 38.5% CAGR
North America leads the charge in the metaverse market, with significant contributions from companies across the globe. Recent market activity reflects the growing momentum towards building the future of the metaverse, with influencers offering valuable insights into its potential and trajectory.
The Metaverse market in the U.S. is estimated at US$38.5 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$128.3 Billion by the year 2030 trailing a CAGR of 38.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 30.4% and 31.2% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 33.8% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 475 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $90 Billion |
| Forecasted Market Value (USD) by 2030 | $980.5 Billion |
| Compound Annual Growth Rate | 34.8% |
| Regions Covered | Global |
METAVERSE - WATCHING THE FUTURE AS IT UNFOLDS TODAY
- The Future Has Arrived. Physical & Digital Worlds Converge to Mark the Consummation of Humanity's Tryst With Digital
- "Phygital" is the New Era
- A Peek Into All Things "Phygital"
- What is Metaverse & Why is it Important?
- Who's Eyeing the Metaverse?
- Signs that the Metaverse is Catching Up
- The Metaverse Value Chain
- Main Constituents of Metaverse Value Chain
- Global Market Prospects & Outlook
- Halcyon Days Ahead for Metaverse Market with Salient Drivers & Opportunities
- Desktop to Emerge Into a Dominant Platform for Metaverse: Global Metaverse Market Share Breakdown (In %) by Platform for Years 2020 and 2027
- Gaming to Remain the Largest Application Area for Metaverse: Global Metaverse Market Share Breakdown (In %) by Application for Years 2020 and 2027
- North America Remains at the Heart of Metaverse Market
- Competition
- Metaverse - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Companies Contribute to Building Future of Metaverse
- Recent Market Activity
- Influencer Insights that Matter the Most: Here are What Top Voices are Saying About the Emerging Concept of Metaverse & Its Future
MARKET TRENDS & DRIVERS - WHAT'S BUZZING IN THE MARKET
- From Sci-Fi to Reality! What Are the Technologies "Under the Hood" That Are Powering the Metaverse?
- AR/VR/MR/XR in the Spotlight
- As AR/VR Technologies Evolve, Successful Implementation of These Technologies in the Metaverse to Gain Momentum
- AR Glasses Are Vital for Creating Our Futuristic Mixed Reality Universe: Global Market for Smart Augmented Reality (AR) Glasses (In '000 Units) for the Year 2021, 2023, 2025 and 2027
- Powering the Metaverse with Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR): Global AR, VR & MR Market (In US$ Billion) for Years 2021, 2023, 2025 and 2027
- Artificial Intelligence (AI) Is Indispensable in Creating the Metaverse
- Role of AI in the Metaverse
- Artificial Intelligence (AI) to Provide the Smart Platform & Allied Functionalities for the Metaverse: Global AI Annual Revenues (In US$ Billion) for Years 2021, 2023, 2025 and 2027
- Digital Twins Also Features in the Metaverse Technology Mix
- Role of Digital Twins in the Metaverse
- Digital Twins Helps Converge the Physical & Digital in the Metaverse: Global Opportunity for Digital Twins (In US$ Million) for Years 2021, 2023, 2025 & 2027
- The Internet & Its Decades of Evolution Provides the Foundation for the Metaverse
- Success of Metaverse & Its Scale of Impact Depends Upon Extensiveness of Optical Fiber Based Broadband Network Architecture: Global Opportunity for Fiber to the X (In US$ Billion) for Years 2021, 2023, 2025 and 2027
- Rapid Developments in 5G Technology Space to Fastrack Metaverse Initiatives
- Metaverse: The Latest Tech Trend Poised to Transform Businesses
- Top Trends That Will Impact Metaverse in 2022 and Beyond
- Buzzing Trends with Potential Role in Ensuring Strong Foundation for Metaverse
- Venture Capital Funding Craze Settles Down on Metaverse
- Venture Capitalists Focus on Metaverse Industry
- Facebook's Decision to Change Name to "Meta" Marks the Beginning of Metaverse as a New Revolution in Social Technology
- How Can Facebook (Meta) Benefit from Creating New Immersive Digital Experiences?
- Metaverse to Impact Consumer Lives & Industry to Become an Integral Fabric of Society & Industry. Here's Why Businesses Should Care About Metaverse
- Scale of Impact Too Unprecedented to Ignore!
- Metaverse in Manufacturing. A Factory in the Metaverse What Benefits Will it Bring?
- Microsoft Right on Track to Build the Future Metaverse
- Immersive Digital Twins to Offer Increased Business Value to Enterprises
- Metaverse, What Does it Mean for Future of Work
- The Future of Work Isn't What It Used to Be! Here's How It Has Come to Pass
- How Has the Workforce Changed?
- Returning to the Office: % Share of Employees Preferring Various Types of Work Arrangements
- Maybe the Most Interesting Change is Yet to Come? Are We Ready to Shift from WFH to WFM?
- Make Way! Here Comes Metaverse Gaming
- Video Games: The Earliest Known Experience of Living in a Simulation
- With Rapid Growth of Video Games Industry, Metaverse Breaking into Gaming Industry to Translate into Enormous Market Opportunity: Global Opportunity for Video Games (In US$ Billion) for Years 2021, 2023, 2025 & 2027
- Will Gaming in the Metaverse Be Any Different From the Immersive Gaming We All Have Come to Know, Experience & Appreciate?
- Will "Crypto" Become the Currency of the Metaverse?
- What is Cryptocurrency & How Is it Used Today?
- Top Cryptocurrencies Worldwide by Market Capitalization ($ Million) as of Aug 2022
- A New Role for Crypto as the Trading Currency in the Metaverse
- Here's Why Cryptocurrencies Lie at Heart of Metaverse
- Blockchain & Crypto are Perfect Fit for Metaverse
- Metaverse Developments Trigger Massive Price Gains/Surge for Cryptocurrencies
- Metaverse is Poised to Emerge Into the Future of Social Media
- Here's How Social Media Has Become an Integral Part of Our Lives?
- What Will Be the Impact of Metaverse On Social Media?
- NFTs Emerge as the New Revenue Model for Metaverse
- Brands Scramble to Create Their Own NFTs - Here's Why
- Role of Blockchain in Metaverse Gets Bigger as NFTs Grow?
- Blockchain Rises like a Phoenix from the Ashes of Bitcoin
- Metaverse Without Blockchain. Is It Even Possible?
- It is Increasingly Clear that Metaverse Cannot be Built Without Blockchain Technology: Global Opportunity for Blockchain Technology (In US$ Billion) for Years 021, 2023, 2025 and 2027
- The Direct to Avatar Economy (D2A) is it the Future of Direct-to-Consumer (DTC)?
- Direct Marketing & Its Benefits as We Know It Today
- How Will Metaverse Change this Status Quo?
- How Should Retailers/Brands Adopt?
- The Low Hanging Fruit. A Decade Long Robust Growth Has Ripened e-Commerce as the Prime Area for Monetization in the Metaverse
- The Spectacular Rise of eCommerce and mCommerce: A Review
- Global B2C E-Commerce Sales in US$ Trillion for the Years 2017, 2019, 2021 and 2023
- Will Metaverse Take e-Commerce to the Next Level?
- Here's How Metaverse Will Transform E-Commerce & Retail
- Are e-Commerce Experiences Ready for the Metaverse & How Can Marketers & Brands Prepare for the Metaverse?
- Meta Provides an All-Inclusive Study for Students
- Metaverse is Changing the Consumer Goods and Retail industry
- Metaverse, Cybersecurity & Privacy. How Will This Landscape Look Like?
- Systemic Threats Could Debilitate Metaverse
- Sprucing up Metaverse to Overcome Privacy Blockers
- Risks of Identity Fragmentation and Data Privacy concerns Necessitate DeFi Networks
- Will Metaverse Save the World? Exploring Metaverse & its Promise of Enabling Sustainability
- Metaverse Claims to Aid Humanity Achieve Sustainability Goals
- Environmental Benefits of Metaverse
- Spatial Computing to Mitigate Climate Change
- Amid the Hype Surrounding Metaverse & Environmental Sustainability, What's the Real Truth? What is the Carbon Footprint of the Metaverse?
- NFTs Mired under Climate Controversy
- The Exhaustive Process of Creating a Cryptocurrency is Energy Intensive & Detrimental to the Goals of Sustainability: Energy Consumed (In Kilowatt Hours) Per Cryptocurrency Transaction
- Major Challenges Facing Metaverse
- Hype Aside. Metaverse Will be a Challenging Environment/World to Create?
- Why Metaverse Should be Open Source?
FOCUS ON SELECT PLAYERS(Total 90 Featured)
- Accenture PLC
- Adobe Inc.
- Capgemini SE
- EON Reality, Inc.
- Alibaba Group Holding Limited
- Deloitte Touche Tohmatsu Ltd.
- Alibaba Cloud
- 3i Inc.
- Animoca Brands
- Antier Solutions Pvt Ltd
- Decentraland
- Appinventiv
- DevDen Creative Solutions
- Electronic Arts, Inc.
- Dapper Labs Inc.
For more information about this report visit https://www.researchandmarkets.com/r/lp1d6v
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