The global metaverse market size is expected to reach USD 1,607.12 Billion in 2030 and register a revenue CAGR of 43.3 percent over the forecast period, according to latest analysis by Emergen Research. Global metaverse market revenue growth is expected to be driven by key factors such as increasing demand for applications and products based on virtual and augmented and mixed reality and rising focus on converging digital/virtual and physical worlds. Besides, with the rise of Blockchain technology, web 3.0 (Web3), low-code, and no-code application platforms, coupled with advancements in motion tracking systems and cybernetics, artists and developers are gaining control of their online content, which is expected to support revenue growth of the market in the near future.
Metaverse will bring human beings closer to the future of Web3, where artists and developers can reclaim control over their online content and people may retake control over their personal identities. Every new blockchain concept and solution is promptly evaluated as a possible module for incorporation into the Web 3.0 engine that will support traction of metaverse products and services. Mark Cuban, an American entrepreneur, recognized the significance of blockchain in the development of the metaverse world. He established his Non-fungible Tokens (NFTs) company, Lazy.com, which is a digital art gallery aimed to promote NFTs in the same way that typical art galleries do, with the help of Polygon Studios, which is a new NFT-centric gaming and metaverse center intended to enable web 3.0 gaming. The latter is funded by a USD 100 million investment to boost mainstream adoption of metaverse projects.
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The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Metaverse market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.
Companies profiled in the global Metaverse market:
Facebook, Inc., Tencent Holdings Ltd., ByteDance Ltd., NetEase, Inc., Nvidia Corporation, Epic Games, Inc., Roblox Corporation, Unity Technologies, Inc., Lilith Games, and Nextech AR Solutions Corp.
The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
For the purpose of this report, Emergen Research has segmented the global metaverse market based on component, platform, offering, technology, application, end-use, and region:
Components Outlook (Revenue, USD Billion; 2019 – 2030)
Hardware
Software
Platform Outlook (Revenue, USD Billion; 2019 – 2030)
Desktop
Mobile
Offerings Outlook (Revenue, USD Billion; 2019 – 2030)
Virtual Platforms
Asset Marketplace
Avatars
Financial Services
Technology Outlook (Revenue, USD Billion; 2019 – 2030)
Blockchain
VR and AR
MR
Application Outlook (Revenue, USD Billion; 2019 – 2030)
Gaming
Online Shopping
Content Creation
Social Media
Conference
Virtual Runway Shows
Aircraft Maintenance
Others
End-Use Outlook (Revenue, USD Billion; 2019 – 2030)
Fashion
Media & Entertainment
Education
Aerospace & Defense
Others
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Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Outlook of Metaverse Market:
North America
S.
Canada
Mexico
Europe
Germany
K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
South Africa
Rest of MEA
Key Features of the Metaverse Market Report:
- The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
- The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
- Evaluation of key current and emerging market trends and growth prospects
- It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
- Brief overview of industry with regards to research and development, technological advancements, and product development
- In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
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