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Metaverse Market

Metaverse Market Size, Share & Trends Analysis Report By Product (Infrastructure, Hardware, Software, Services), Platform (Desktop, Mobile, Headsets), Technology (Blockchain, Virtual Reality (VR) & Augmented Reality (AR), Mixed Reality (MR), By Region, And Segment Forecasts, 2023-2031

Report ID : 1663 | Published : 2023-03-29 | Pages: 180 | Format: PDF/EXCEL

The Global Metaverse Market Size is valued at 75.81 billion in 2022 and is predicted to reach 1420.58 billion by the year 2031 at a 38.97% CAGR during the forecast period for 2023-2031.

The phrase "metaverse" refers to deeply immersive 3D virtual world encounters made possible by combining AR, VR, and MR technologies. The metaverse platform enhances the internet experience by creating a virtual world where users can partake in immersive games, business transactions, social interactions, purchasing and selling virtual properties, and comprehensive entertainment, among other activities.

Metaverse Market

The rise of mixed reality (MR) and augmented reality (AR)virtual reality (VR), as well as COVID-19's outbreak and its future developments and outcomes, are three major causes that are anticipated to contribute to the metaverse market revenue increase. Another important element is the growing emphasis on fusing the digital and physical worlds through the Internet.

Furthermore, one of the metaverse's bright future promises is that customers in emerging and frontier economies now have far greater access to the market. Access to previously inaccessible goods and services has already been made possible thanks to the Internet. For instance, workers from developing nations may now be able to work in western firms without moving. Due to its low cost and efficiency as a learning tool, virtual reality environments will aid in enhancing educational options. Consumers have been using online games for leisure on the Internet. Because it provides a more user-friendly interface than conventional online gaming platforms, this has aided in the metaverse market expansion.

Additionally, gaming experience has been enhanced using tools and platforms like VR headsets, smart helmets, and MR displays, encouraging game creators to employ metaverse more frequently. As a result, the metaverse market demand has increased. 

Recent Developments:

  • In Feb 2023, Meta Platforms Inc., the parent company of Facebook, is launching a paid membership service called Meta Confirmed that will contain a variety of additional perks and features, including account verification badges. Subscription solutions have gained popularity among social networking sites in recent years as a strategy to diversify their advertising-heavy operations.
  • In Aug 2022, Broadcom Inc. and Tencent Holdings Ltd. formed a strategic agreement to accelerate the use of co-packaged optics (CPO) network switches for cloud infrastructure. Broadcom will offer the 25.6-Tbps Humboldt CPO switch device, which includes Broadcom's best-in-class StrataXGS® Tomahawk® 4 switch chips directly linked and co-packaged with four 3.2-Tbps Silicon Photonics Chiplets In Package (SCIP) optical engines, as part of this cooperation.
  • In May 2022, NetEase, Inc. revealed content upgrades and future plans for more than 50 of its current and upcoming products. NetEase has increased its attempts to collaborate with top game creators from many cultural backgrounds. This year, among its most recent global growth endeavours, NetEase established its first studio in the United States, Jackalope Games, and increased its presence in Japan by establishing the Nagoshi Studio in Tokyo. Both studios are dedicated to providing exciting NetEase games to the most popular platforms. 

Competitive Landscape:

Some the Metaverse market players 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 Sandbox
  • Active Theory
  • Decentraland
  • Microsoft Corporation
  • Antier Solutions Pvt. Ltd. 

Market Segmentation:

The metaverse market is segmented based on product, platform, technology, application, and end-users. Based on product, the metaverse market is segmented as hardware and software. By platform, the market is segmented as desktop, mobile and headsets. By technology, the market is segmented as blockchain, VR & AR, mixed reality, and others. By offering, the market is segmented as virtual platforms, asset marketplaces, avatars, and financial services. The market is segmented by applications: online shopping, content creation, gaming, social media, and others. By end users, the market is segmented as   BSFI, retail, media & entertainment, education, aerospace and defence, automotive and others. 

Based On The Product, The Hardware Segment Particularly Contributes To The Metaverse Market

The hardware category is expected to hold a major share of the global Metaverse market in 2021. The hardware sector is anticipated to account for the most substantial revenue share throughout the projected period due to an increasing focus among companies on manufacturing products that give a better user experience and enable more extended user immersion. Companies are also attempting to create more sophisticated gear, such as VR/AR helmets, haptic sensors, and detectors, to enhance the realism of virtual worlds. This market's expected revenue growth will also be fueled by the creation of user interfaces that let users access 3D material on some gadgets, including smartphones, next-generation TVs, and the mixed reality smart glasses known as HoloLens.

The Desktop Segment Witnessed Growth At A Rapid Rate

The desktop segment is projected to grow rapidly in the global Metaverse market. With the advent of smartphones and wireless networks, workstations are no longer the main entry point into the metaverse. With the HTC Vivi, Facebook Rift / Rift S, WMR headsets, and Valve Index, users can use the computer in virtual reality thanks to the virtual desktop program. Users can play video games, browse the web, and watch Netflix movies on a sizable virtual screen. Virtual machines are becoming more popular for usage with VR equipment. Accessibility to the metaverse is now unmatched and almost constant, thanks to mobile phones and mobile networks. Large-scale data downloading, uploading, and sharing are becoming more frequent in networked cyberspace.

The North American Metaverse Market Holds A Significant Revenue Share In The Region

The North American metaverse market is expected to register the highest market share in revenue soon. Because an increasing number of users and clients in the area are embracing new, complicated equipment, another factor anticipated to boost the regional market's revenue growth is the rising number of startups concentrating on creating metaverse infrastructure for monetization. In addition, the Asia Pacific region is expected to increase in the global Metaverse market. This results from the president's quick digitalization ambitions in developing nations like China and India. Additionally, it is anticipated that the economic development of Asian nations will increase the region's use of the metaverse, spurring the market's expansion faster. Public policies supporting technology-driven startups are anticipated to play a big role in the market's expansion.

Metaverse Market Report Scope:

Report Attribute

Specifications

Market size value in 2022

USD 75.81 Bn

Revenue forecast in 2031

USD 1420.58 Bn

Growth rate CAGR

CAGR of 38.97% from 2023 to 2031

Quantitative units

Representation of revenue in US$ Billion, and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report coverage

The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends

Segments covered

Product, Platform, Technology, Application, And End-Users

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Competitive Landscape

Meta Platforms, Inc.; Tencent Holdings Ltd; Epic Games, Inc.; Nvidia Corporation; Unity Technologies, Inc.

Customization scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing and available payment methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Metaverse Market Snapshot

Chapter 4. Global Metaverse Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Product Estimates & Trend Analysis
5.1. by Product & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Product:

5.2.1. Infrastructure

5.2.1.1. Chips & Processors
5.2.1.2. Network Capabilities
5.2.1.3. Cloud & Edge Infrastructure
5.2.1.4. Cybersecurity

5.2.2. Hardware

5.2.2.1. Holographic Displays
5.2.2.2. eXtended Reality (XR) Hardware

5.2.2.2.1. Haptic Sensors & Devices
5.2.2.2.2. Smart Glasses
5.2.2.2.3. Omni Treadmills

5.2.2.3. AR/VR Devices
5.2.2.4. Others

5.2.3. Software

5.2.3.1. Asset Creation Tools
5.2.3.2. Programming Engines
5.2.3.3. Virtual Platforms
5.2.3.4. Avatar Development

5.2.4. Services

5.2.4.1. User Experiences (Events, Gaming, etc.)
5.2.4.2. Asset Marketplaces
5.2.4.3. Financial Services

Chapter 6. Market Segmentation 2: by Platform Estimates & Trend Analysis
6.1. by Platform & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Platform:

6.2.1. Desktop
6.2.2. Mobile
6.2.3. Headsets

Chapter 7. Market Segmentation 3: by Technology Estimates & Trend Analysis
7.1. by Technology & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Technology:

7.2.1. Blockchain
7.2.2. Virtual Reality (VR) & Augmented Reality (AR)
7.2.3. Mixed Reality (MR)
7.2.4. Others

Chapter 8. Market Segmentation 4: by Application Estimates & Trend Analysis
8.1. by Application & Market Share, 2019 & 2031
8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:

8.2.1. Gaming
8.2.2. Online Shopping
8.2.3. Content Creation & social media
8.2.4. Events & Conference
8.2.5. Digital Marketing (Advertising)
8.2.6. Testing and Inspection
8.2.7. Others

Chapter 9. Market Segmentation 5: by End-use Estimates & Trend Analysis
9.1. by End-use & Market Share, 2019 & 2031
9.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-use:

9.2.1. Aerospace & Defense
9.2.2. Education
9.2.3. Healthcare
9.2.4. Tourism and Hospitality
9.2.5. BFSI
9.2.6. Retail
9.2.7. Media & Entertainment
9.2.8. Automotive
9.2.9. Others (Manufacturing)

Chapter 10. Metaverse Market Segmentation 6: Regional Estimates & Trend Analysis

10.1. North America

10.1.1. North America Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Product, 2023-2031
10.1.2. North America Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Platform, 2023-2031
10.1.3. North America Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
10.1.4. North America Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
10.1.5. North America Metaverse Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2023-2031
10.1.6. North America Metaverse Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

10.2. Europe

10.2.1. Europe Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Product, 2023-2031
10.2.2. Europe Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Platform, 2023-2031
10.2.3. Europe Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
10.2.4. Europe Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
10.2.5. Europe Metaverse Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2023-2031
10.2.6. Europe Metaverse Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

10.3. Asia Pacific

10.3.1. Asia Pacific Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Product, 2023-2031
10.3.2. Asia Pacific Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Platform, 2023-2031
10.3.3. Asia-Pacific Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
10.3.4. Asia-Pacific Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
10.3.5. Asia Pacific Metaverse Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2023-2031
10.3.6. Asia Pacific Metaverse Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

10.4. Latin America

10.4.1. Latin America Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Product, 2023-2031
10.4.2. Latin America Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Platform, 2023-2031
10.4.3. Latin America Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
10.4.4. Latin America Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
10.4.5. Latin America Metaverse Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2023-2031
10.4.6. Latin America Metaverse Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

10.5. Middle East & Africa

10.5.1. Middle East & Africa Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Product, 2023-2031
10.5.2. Middle East & Africa Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Platform, 2023-2031
10.5.3. Middle East & Africa Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
10.5.4. Middle East & Africa Metaverse Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
10.5.5. Middle East & Africa Metaverse Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2023-2031
10.5.6. Middle East & Africa Metaverse Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

Chapter 11. Competitive Landscape

11.1. Major Mergers and Acquisitions/Strategic Alliances

11.2. Company Profiles


11.2.1. Meta Platforms, Inc.
11.2.2. Tencent Holdings Ltd.
11.2.3. ByteDance Ltd.
11.2.4. NetEase, Inc.
11.2.5. Nvidia Corporation
11.2.6. Epic Games, Inc.
11.2.7. Roblox Corporation
11.2.8. Unity Technologies, Inc.
11.2.9. Lilith Games
11.2.10. Nextech AR Solutions Corp.
11.2.11. The Sandbox
11.2.12. Active Theory
11.2.13. Decentraland
11.2.14. Microsoft Corporation
11.2.15. Antier Solutions Pvt. Ltd.
11.2.16. Other Prominent Players

Segmentation of Metaverse Market -

Metaverse Market By Metaverse Product

  • Infrastructure
    • Chips & Processors
    • Network Capabilities
    • Cloud & Edge Infrastructure
    • Cybersecurity
  • Hardware
    • Holographic Displays
    • eXtended Reality (XR) Hardware
      • Haptic Sensors & Devices
      • Smart Glasses
      • Omni Treadmills
    • AR/VR Devices
    • Others
  • Software
    • Asset Creation Tools
    • Programming Engines
    • Virtual Platforms
    • Avatar Development
  • Services
    • User Experiences (Events, Gaming, etc.)
    • Asset Marketplaces
    • Financial Services

 Metaverse Market

Metaverse Market By Metaverse Platform

  • Desktop
  • Mobile
  • Headsets

 

Metaverse Market By Metaverse Technology

  • Blockchain
  • Virtual Reality (VR) & Augmented Reality (AR)
  • Mixed Reality (MR)
  • Others

Metaverse Market By Metaverse Application

  • Gaming
  • Online Shopping
  • Content Creation & social media
  • Events & Conference
  • Digital Marketing (Advertising)
  • Testing and Inspection
  • Others

Metaverse Market By Metaverse End-use

  • BFSI
  • Retail
  • Media & Entertainment
  • Education
  • Aerospace and Defense
  • Automotive
  • Others

Metaverse Market By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Metaverse Market?

Metaverse Market expected to grow at a 38.97% CAGR during the forecast period for 2023-2031

Meta Platforms, Inc.; Tencent Holdings Ltd; Epic Games, Inc.; Nvidia Corporation; Unity Technologies, Inc.

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