DUBLIN, Sept. 25, 2023 /PRNewswire/ — 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 metaverse market is experiencing remarkable growth, with an estimated value of US$62.4 billion in 2022 and a projected size of US$980.5 billion by 2030.
This substantial expansion is being driven by various segments within the metaverse market, including software, hardware, professional services, consumer applications, industrial manufacturing, commercial usage, healthcare, and other verticals. These sectors are witnessing significant investments and developments, leading to substantial annual spending.
As we look ahead to 2023 and 2030, the metaverse market is expected to continue evolving and expanding across different geographic regions. Each region will exhibit unique growth patterns and trends, shaping the future of the metaverse. This digital phenomenon is poised to revolutionize numerous industries, ranging from entertainment and gaming to healthcare and industrial manufacturing, thereby reshaping the global digital landscape.
Among the segments analyzed in the report, software is projected to achieve a remarkable 40.1% CAGR, reaching US$588.9 billion by the end of the analysis period. Simultaneously, the hardware segment is expected to experience impressive growth, with an estimated 44.8% CAGR over the next eight years.
In terms of regional markets, the United States is estimated to account for a significant share, with a market size of US$26.2 billion in 2022. Meanwhile, China, the world’s second-largest economy, is forecasted to exhibit substantial growth, reaching a projected market size of US$128.3 billion by 2030, with a CAGR of 45.9% during the period from 2022 to 2030.
Other noteworthy geographic markets include Japan and Canada, each forecasted to grow at rates of 35.9% and 37%, respectively, over the 2022-2030 period. In Europe, Germany is expected to experience robust growth, with an approximate CAGR of 40.2%.
With comprehensive profiles of 90 leading and emerging competitors, such as Accenture, Adobe, Epic Games, and others, this report provides valuable insights to understand the competitive landscape within the metaverse market.
Future Outlook
Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape.
The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
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
- What is Metaverse & Why is it Important?
- Who’s Eyeing the Metaverse?
- Top 5 Big Tech Companies Have Their Fingers in the Metaverse Pie
- Signs that the Metaverse is Catching Up
- Roblox, an Online Gaming Company that Offers Metaverse-like Experiences, Witnesses Steady Rise in the Number of Users
- Metaverse Job Openings on the Rise as Companies Begin to Warm Up to the Concept & Its Promised Potential
- The Metaverse Value Chain
- Main Constituents of Metaverse Value Chain
- Global Market Prospects & Outlook
- Halcyon Days Ahead for Metaverse Market with Salient Drivers & Opportunities
- North America Remains at the Heart of Metaverse Market
- COVID-19 Pandemic Catalyzes Race towards Metaverse
- Competition
- Metaverse – Global Key Competitors Percentage Market Share in 2022 (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
- Meta’s Occulus Makes a Disruptive Leap Forward, Overtaking its Competitors by a Wide Margin
- 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
- Powering the Metaverse with Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR)
- Artificial Intelligence (AI) Is Indispensable in Creating the Metaverse
- Role of AI in the Metaverse
- Rapid Advancements in Artificial intelligence (AI) Measured by Deep Learning Transformers Reveals a Metaverse Enabled, Populated & Supported with AI
- Artificial Intelligence (AI) to Provide the Smart Platform & Allied Functionalities for the Metaverse
- 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
- 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
- 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?
- Riding on the Promised Potential of Metaverse, Meta Plans to Boost Long Term Growth
- 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
- Living in Times of Persistent Disruption Means Millions Are Transitioned to Remote Working
- How Has the Workforce Changed?
- 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 Visualization in Games Being Key to Motivate Players to Keep Playing, the Metaverse is Optimally Positioned to Take Over the Current Base of Video Gamers
- With Rapid Growth of Video Games Industry, Metaverse Breaking into Gaming Industry to Translate into Enormous Market Opportunity
- 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?
- 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
- Growing Use of Crypto Marks the Metaverse Concept for Success
- Metaverse is Poised to Emerge Into the Future of Social Media
- Here’s How Social Media Has Become an Integral Part of Our Lives?
- With People Spending More Time on Social Media, It is One Less Challenge for Metaverse in Virtually Taking Over Social Interactions & Hangouts
- What Will Be the Impact of Metaverse On Social Media?
- NFTs Emerge as the New Revenue Model for Metaverse
- Non-Fungible Token (NFT) Emerge as Keys for Monetizing the Metaverse
- What Kind of NFTs are Popular & in What Categories?
- 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
- 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
- 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
- COVID-19 Pandemic Catapults Sustainability to the Top of the Global Agenda
- 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
- 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/31vut8
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