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The Metaverse market is expected to be around $1.3 USD

FARMINGTON, Jan. 26, 2023 (Globe Newswire) — Globalism Metaverse Market It was valued at US$ 51.69 billion in 2022 and is expected to exceed US$ 1.3 trillion by 2030 at a CAGR of 44.5% during the forecast period 2023 to 2030. The focus on how the digital and real worlds are converging on each other, the fast-growing trends of the virtual economy and encrypted gaming, and the growing popularity of online games are all big driving the growth in market revenue.

The Metaverse is a place where the real world, augmented reality (AR), and virtual reality (VR) live together. The metaverse is doing well because of important technologies such as virtual reality (VR), augmented reality (AR), and extended reality (XR), which combines the real and virtual worlds and artificial intelligence (AI).

Request a sample copy of the report.Metaverse Market – Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Impact of Covid-19, SWOT Analysis, Competition and Forecast from 2022 to 2030Published by Contrive Datum Insights.

Recent developments:

  • in January 2022, The Sandbox announced a partnership with Warner Music Group to launch the first music world in The Sandbox’s metaverse. Warner Music Group (WMG) will take its first steps in the Metaverse and NFT sectors with this alliance.
  • in November 2021Tencent Holdings, Ltd. has announced that it has entered into a partnership with the Asian Digital Finance Institute. The companies will collaborate on education, research and entrepreneurship to support the fintech industry in Asia.
  • in November 2021Harmonix Music Systems, Inc. has been acquired by Epic Games, Inc. While continuing to support existing products such as Rock Band 4; The Harmonix team will work closely with Epic Games, Inc. to develop musical adventures and gameplay in Fortnite.

Sector overview

product insights

The hardware sector was valued at $16.58 billion in 2021 and is expected to grow by more than 38.0% each year. Devices are expected to bring in the most money over the next few years because companies are working harder to make products that give users a better experience and allow them to stay immersed for longer. To make virtual worlds look more real, companies are also making more advanced hardware such as VR/AR headsets, haptic devices, and sensors. This segment’s revenue growth is also expected to be driven by the design of interfaces that allow people to access 3D content on various devices, such as next-generation televisions, smartphones, and smart glasses called HoloLens.

Insights platform

From 2022 to 2030, the segment that made the most money was desktop computers, followed by headphones. The sector was thought to be worth $16.38 billion in 2021. Before smartphones and wireless networking became commonplace, computers were the main way to access the metaverse. Users can use the computer in virtual reality with HTC Vive headsets, Oculus Rift / Rift S, WMR and Valve Index headsets. On a huge virtual screen, users can surf the web, watch Netflix movies, and even play games.

provide insights

With a compound annual growth rate of 40.0%, the asset market segment is expected to grow as fast as possible during the forecast period. This is because more people are investing in cryptocurrencies such as Bitcoin, NFT, Ethereum, and others. The virtual platform segment is expected to make a lot of money during the forecast period because the metaverse virtual platforms are growing. Virtualization platforms are the design and management of virtualizations, setups, and integrated environments, typically 3D, where individuals and businesses can find, create, communicate, and do a wide range of other things while also running a business.

technology insights

In 2021, augmented reality (AR) and virtual reality (VR) technology brought in more than 35.0% of all revenue. In the technology segment of the global market, the Mixed Reality (MR) segment is expected to achieve the highest CAGR of 40.4% over the next few years. This is because more and more people are using MR to better communicate with the metaverse. The global market is divided into three groups based on technology: blockchain, virtual reality (VR), augmented reality (AR), mixed reality (MR) and other technologies. The other part includes AI, IoT, 3D reconstruction, brain-computer interface, machine learning, 5G, etc.

application insights

At 27.17%, the gaming sector brought in the most money in 2021. This was because game makers were always coming up with new ideas and making their games better. They were also putting more effort into making the games more realistic and immersive. Also, companies are more focused on using games to promote their corporate image, which is more likely to bring in more money. The market is segmented into gaming, online shopping, content making and social media, events and conferences, content making, digital marketing (advertising), testing and inspection, and other uses.

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Regional outlook:

North America is likely to bring in the most money in 2021, over 46.0% of the total. This is because customers and users in the region are turning to newer technologies that are difficult to use. The fact that more and more startups are focusing on building commercial platforms for the metaverse is also expected to help the regional market revenue growth. Also, there are a lot of gaming companies and metaverse companies in the area, such as The Sandbox, Nvidia Corporation, and Epic Games, Inc. which focus on putting the metaverse in the games. This leaves room for market growth. For example, Nvidia Corporation announced partnerships with Blender and Adobe that will help millions of people use NVIDIA Omniverse, the world’s first platform for collaboration and simulation.

During the forecast time frame, the Asia Pacific region is expected to experience a very high CAGR.

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Report Scope:

Report attributes details
growth rate compound annual growth rate 44.5% From 2023 to 2030.
Revenue projections by 2030 1.3 trillion US dollars
High School hardware, software, services, and more
Depending on the application Gaming, Online Shopping, Content Creation & Social Media, Events & Conferences, Digital Marketing (Advertising), Testing & Inspection, Other
by end use BFSI, Retail, Media & Entertainment, Education, Aerospace & Defense, Automotive, Other
By companies META, NVIDIA Corporation, Epic Games, Microsoft, Snap Inc. and Nextech AR Solutions Inc. , The Sandbox, Decentraland, Roblox Corporation, and Qualcomm Technologies, Inc.
Regions and countries covered
  • North America: (United States, Canada, Mexico, and the rest of North America)
  • Europe (Germany, France, Italy, Spain, UK, Nordic countries, Benelux Union, rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia Pacific)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)
  • Latin America (Brazil, Argentina and the rest of Latin America)
  • the rest of the world
base year 2022
Historic year 2017 to 2022
prediction year 2023 to 2030

Drivers:

The metaverse market is growing because more and more people are using new technologies such as mixed reality (MR), extended reality (ER), artificial intelligence (AI), and blockchain. Companies like Roblox, Facebook, NVidia, Fortnite, Epic Games, Microsoft, Google, USM, Oculus and RTFKT Akira have already made metaverse XR/extended reality systems and other new technologies or are in the process of doing so. Research shows that LG Group has filed approximately 688 Extended Reality (ER) patents in about 455 patent families, Sony has filed approximately 87 XR patents in about 78 patent families, Qualcomm has filed approximately 80 metaverse patents in about 28 Patent family.

self-control:

If users don’t know about their services and security options, the metaverse market may not grow as fast as it could. There have been cyberattacks on major players such as Tencent Holdings, Globant, and others, which raises high security and sensitivity concerns. SonicWall says that between September 2021 and nearly 500 million cyberattacks, each organization reported more than 1,700 cyberattacks.

chance:

Business-to-business or business-to-business marketing includes things like meetings with customers, trade shows, product demonstrations, commercials, customer service, and so on. Since the advent of the metaverse, all of this B2B marketing stuff has gotten a whole lot better. Most B2B products are commodities, so good customer service through the metaverse can help it grow in a big way. Also, the metaverse has almost eliminated some of the biggest differences between B2C and B2B, such as ROI, Target Audience, etc., which will help the market grow in the future.

Main sectors covered:

Top market players:
META, NVIDIA Corporation, Epic Games, Microsoft, Snap Inc. and Nextech AR Solutions Inc. , The Sandbox, Decentraland, Roblox Corporation, and Qualcomm Technologies, Inc. and others.

High School

Depending on the platform

by technology

  • Blockchain
  • Virtual Reality (VR) and Augmented Reality (AR)
  • mixed reality (MR)
  • others

by submitting

  • virtual platforms
  • asset markets
  • Gods
  • financial services

Depending on the application

  • the games
  • online shopping
  • Content creation and social media
  • Events and conferences
  • Digital Marketing (Advertising)
  • Testing and inspection
  • others

by end use

  • bfsi
  • hash
  • Media and entertainment
  • education
  • Aerospace and defense
  • the cars
  • others

Regions and countries covered

  • North Amarica: (United States, Canada, Mexico and the rest of North America)
  • Europe: (Germany, France, Italy, Spain, the United Kingdom, the Nordic countries, the Benelux Union, the rest of Europe)
  • Asia Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, and the rest of Asia Pacific)
  • Middle East and Africa: (Saudi Arabia, United Arab Emirates, Egypt, South Africa, rest of the Middle East and Africa)
  • Latin america: (Brazil, Argentina and the rest of Latin America)
  • the rest of the world

Check out more related studies published by Contrive Datum Insights:

  • Blockchain in the retail market – The size of the global retail blockchain market was estimated at USD 240.45 Million in 2022 and is expected to reach USD 30,641.76 Million by 2030, at a CAGR of 91.67% from 2023 to 2030. In 2020, America had North the largest market share. To maintain its position in the global market, the region has invested a lot of money in blockchain in retail services and technology.
  • Web 3.0 Blockchain Market – The World Wide Web 3.0 Blockchain Market Size Was $1.36 Billion In 2022 And It Is Expected To Expand At A Compound Annual Growth Rate (CAGR) Of 44.9% From 2022 To 2030. North America Will Own Approximately 56.2% Of The Market In 2023 .
  • Fintech blockchain market The Fintech blockchain market has reached a value of $2.012 billion. Total blockchain Fintech revenue is expected to grow by 75.80% from 2022 to 2030, reaching approximately $183.56 billion. North America is expected to show most of the growth in the FinTech blockchain market.

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