Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the metaverse market provides an in-depth analysis of segments and sub-segments in the global as well as regional metaverse market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional metaverse market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global metaverse market. According to the report, the global metaverse market is projected to grow at a CAGR of around 43% over the forecast period of 2022-2028.
The global metaverse market was valued at about USD 47 billion in 2022 and is expected to reach over USD 420 billion in 2028, with a CAGR of around 43% during the forecast period. A network of three-dimensional (3D) virtual surroundings concentrated on social intercourse and communication is known as the metaverse. The use of virtual reality and amplified reality headgear makes it possible for metaverse platforms to be portrayed as a conceivable interpretation of the Internet and as a single, global virtual terrain in wisdom fabrication and futuristic literature. In the forthcoming duration, it's anticipated that similar developments in metaverse technology would help the sector grow. During the COVID-19 epidemic, the demand for work-from-home and remote working tools increased, which fueled the expansion of the global metaverse frugality. The rise in acceptance of cryptocurrencies and non-fungible commemoratives (NFTs) has a favorable effect on the expansion of the metaverse market.
The rising utilization of virtual reality, mixed reality, and augmented reality technology, in the global entertainment, gaming, and media industries is driving market growth. The key factor for adopting these technologies is the gadgets, such as HUD, smart helmets, smart glasses, HMD, MR headsets, and VR headsets. The increasing disposable income in emerging countries is expected to enhance the growth of the market during the forecast period. It also provides 6-degree virtual scenarios and enhances user interfaces which create a realistic look to enhance the gaming experience. Therefore the growing technological advancement in the gaming industry is further driving the expansion of the market during the forecast period. Furthermore, the increasing demand for extended reality gadgets and enhanced demand for digital twins in developing countries is also supporting the market growth. However, the threat of cyber-attacks is expected to hamper the market growth.
North America, Europe, and the rest of the world are the three regions that make up the metaverse market. Countries are a further division of the regions. Due to increasing platform investments by top firms like Meta, Roblox Corporation, NVIDIA Corporation, and others, North America is anticipated to hold the highest market share in the metaverse. The region with the highest CAGR during the forecast period is expected to be Europe. This is mostly due to the growing audiences on social media platforms and in the gaming industry. The expanding online gaming business in key European nations including France, Italy, the U.K., Germany, and others is what fuels the growth of the Europe metaverse market.
The report on the global metaverse market covers segments such as component, technology, application, and industry verticals. On the basis of components, the sub-markets include hardware, software, and service. On the basis of technology, the sub-markets include blockchain, virtual reality and augmented reality, mixed reality, and others. On the basis of application, the sub-markets include gaming, online shopping, content creation, social media, events, conferences, and digital marketing. On the basis of industry verticals, the sub-markets include BFSI, retail media and entertainment, education, aerospace and defense, automotive, and others.
The report provides profiles of the companies in the market such as Meta, Tencent Holdings Ltd., Nvidia, Epic Games, Inc., Roblox Corporation, Nextech AR Solutions Inc., Pixowl, Inc., Decentraland, Antier Solutions Pvt. Ltd., and Others.
The report provides deep insights into demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the metaverse
market. Moreover, the study highlights current market trends and provides
forecasts from 2022-2028. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings insight into the
market share of the leading players.
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