Metaverse Market, By Component (Hardware, Software/Platform, and Services), By Device (Desktop, Mobile, Console and Others), By Technology (Blockchain, Virtual Reality (VR) & Augmented Reality (AR) and Mixed Reality (MR)), By Application (Online Shopping, Gaming, Social Media, Content Creation Conference and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029

Report Code: PMI486522 | Publish Date: May 2023 | No. of Pages: 168

Metaverse Market Overview

Metaverse is a popular technology platform that have attracted a number of social networks, technological leaders, and online game developers to join and build a presence in the market. The metaverse is a rapidly expanding trend with a significant user base for a variety of applications including gaming, content creation, social interaction, learning and training, and online virtual shopping. According to industry experts, the metaverse is projected to infiltrate a variety of businesses in a variety of ways in the future years, with the entire addressable market predicted to be worth more than USD 1 trillion in annual revenues. Metaverse is referred to as a decentralised computing platform, and the virtual reality experience includes a variety of digital environments. Even yet, the metaverse's concept is continually being developed and improved. Currently, Meta Platforms Inc. (formerly known as Facebook) is a strong supporter of the metaverse, and it helps to promote its use through goods such as virtual reality headsets and smart glasses that the firm produces. It is, however, the next generation of the internet, and it is vastly expanding the prospects for developers, entrepreneurs, and inventors.  Metaverse Market accounted for US$ 36.58 billion in 2020 and is estimated to be US$ 947.118 billion by 2030 and is anticipated to register a CAGR of 38.80%.

Impact of Covid-19 pandemic on market

As the pandemic forced entire lives online due to quarantine and social isolation, Covid-19 has had a good impact on the worldwide metaverse market. However, the limitations of current platforms are beginning to become obvious. This pandemic has also pushed the internet to the next stage of development, such as the 'Metaverse,' where cyberspace transforms into an interactive 3D area with business and networking, as well as material that corresponds to the worlds in popular games like Roblox and Fortnite. The current global crisis has hastened the development of virtual platforms such as the metaverse, as well as some of the cultural trends and behaviours that are required for the creation of a metaverse. In addition, the epidemic has accelerated the growth of virtual communities such as interactive game worlds and mixed reality

Metaverse Market Dynamics

Growing number of VR devices

Stakeholders predict the metaverse market share to grow as the number of VR devices on the market grows in both developed and emerging nations. Over the next few years, the employment of mixed reality, artificial intelligence (AI), and blockchain in end-use applications will become more prevalent. For example, Decentraland raised USD 1.2 million in February 2022 through a fungible tokens auction and marketplace. Furthermore, a significant increase in the e-commerce industry will inspire major corporations to invest in the sector. According to a research published by the United Nations Conference on Trade and Development (UNCTAD), worldwide e-commerce sales are expected to exceed USD 26.7 trillion by 2020.

Rising focus on conveying digital and physical world

The rising focus on conveying digital and physical world through the internet is one of the primary factors driving the global metaverse market's rise. Metaverse created a variety of computer-mediated virtual environments, such as social networking, video conferencing, and virtual 3D. Although non-permanent and unattached, such virtual situations have resulted in various amounts of digital change. The term "metaverse" was coined to encompass the digital transformation of all aspects of our physical life. The notion of an immersive internet as a massive, persistent, unified, and shared domain is at the heart of the Metaverse.

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Metaverse Market Segmentation

The Global Metaverse Market report segments the market on the basis of component, device, technology, application and region.

On the basis of Component, the Global Metaverse Market is segmented into Hardware, Software/Platform, and Services. On the basis of Device, the target market is segmented into Desktop, Mobile, Console and Others. Based on Technology the market is segmented into Blockchain, Virtual Reality (VR) & Augmented Reality (AR) and Mixed Reality (MR). Based on Application the market is segmented into Online Shopping, Gaming, Social Media, Content Creation Conference and Others.

Regional Insights:

 

On region the Global Metaverse Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for the largest revenue share contribution to the global metaverse market due to various factors such as the large presence of companies, rising focus on converging digital and physical worlds through the internet, increasing emphasis on developing metaverse platforms for the education industry, and many others. Several entertainment and social media companies are investing in metaverse-related research and development, in addition to using metaverse spaces for business, education, retail applications, and many other purposes.

Due to widespread usage of metaverse platforms in the entertainment, gaming, and social sectors in Asia Pacific, the worldwide metaverse market is predicted to grow at the quickest rate. Hundreds of millions of dollars have been invested in Asia's gaming and social network sectors as a result of the metaverse frenzy. Many people's interactions are changing to the internet realm, and demand in digital entertainment services has skyrocketed. For example, the Hangzhou-based video game behemoth NetEase and its subsidiaries filed thousands of trademark applications relating to the metaverse in October 2021.

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Report Scope:

Attribute

Details

Base year for estimation

2020

Forecast period

2020 – 2029

Market representation

Revenue in USD Million & CAGR from 2020 – 2029

Market Segmentation

By Component - Hardware, Software/Platform, and Services

By Device – Desktop, Mobile, Console and Others

By Technology – Blockchain, Virtual Reality (VR) & Augmented Reality (AR) and Mixed Reality (MR)

By Application – Online Shopping, Gaming, Social Media, Content Creation Conference and Others

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Global Metaverse Market report based on Component, Device, Technology, Application and Region.

Recent Highlights:

  • In October 2021, NetEase, a video gaming conglomerate based in Hangzhou, and its subsidiaries filed dozens of trademark applications connected to the metaverse.
  • Mark Zuckerberg, the CEO of Facebook, announced in 2021 that the firm would have transition from being a social media company to a metaverse company, and has since announced that the company will do so.

Global Metaverse Market, By Region:

      • North America
          • U.S.
          • Canada
      • Europe
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia Pacific
      • Latin America
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Metaverse Market Key Players

The key players operating in the Global Metaverse Market includes Unity Technologies Inc., Lilith Games, Roblox Corporation, Facebook, Tencent Holdings Ltd., ByteDance, NetEase, ZQGame, Nextech AR Solution Cop., Nvidia Corporation and others.

Metaverse Market Company Profile

  • Unity Technologies Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Lilith Games
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Roblox Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Facebook
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Tencent Holdings Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • ByteDance
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • NetEase
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • ZQGame
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Nextech AR Solution Cop.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Nvidia Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

Metaverse Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for metaverse  Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Component
      • Market Snippet, By Device
      • Market Snippet, By Technology
      • Market Snippet, By Application
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Global Metaverse Market, By Component, 2020 – 2030, (US$ Mn)
    • Overview                     
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Hardware
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Software/Platform
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Services
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  6. Global Metaverse Market, By Device, 2020 – 2030, (US$ Mn)
    • Overview                                      
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Desktop
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Mobile
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Others
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  7. Global Metaverse Market, By Technology, 2020 – 2030, (US$ Mn)
    • Overview                                      
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Blockchain
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Virtual Reality (VR) & Augmented Reality (AR)
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Mixed Reality (MR)
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  8. Global Metaverse Market, By Application, 2020 – 2030, (US$ Mn)
    • Overview                                               
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Online Shopping
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Gaming
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Social Media
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Content Creation Conference
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Others
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  9. Global Metaverse Market, By Region, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Mn), By Component, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Device, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Technology, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Mn), By Component, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Device, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Technology, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Mn), By Component, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Device, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Technology, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Mn), By Component, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Device, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Technology, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Mn), By Component, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Device, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Technology, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  10. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  11. Company Profiles
  • Unity Technologies Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Lilith Games
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Roblox Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Facebook
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Tencent Holdings Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • ByteDance
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • NetEase
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • ZQGame
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Nextech AR Solution Cop.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Nvidia Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

The Global Metaverse Market report segments the market on the basis of type, origin, application, end user and region.

Stakeholders predict the metaverse market share to grow as the number of VR devices on the market grows in both developed and emerging nations.

North America accounts for the largest revenue share contribution to the global metaverse market due to various factors such as the large presence of companies, rising focus on converging digital and physical worlds through the internet, increasing emphasis on developing metaverse platforms for the education industry, and many others.

The key players operating in the Global Metaverse Market includes Unity Technologies Inc., Lilith Games, Roblox Corporation, Facebook, Tencent Holdings Ltd., ByteDance, NetEase, ZQGame, Nextech AR Solution Cop., Nvidia Corporation and others.