Global players control about 10% of the market, while regional players have the second largest share

Company logo

Company logo

DUBLIN, Jan. 17, 2023 (GLOBE NEWSWIRE) — The “Global Metaverse Market Size, Segment, Forecast, and Revenue Forecast 2022-2030 by Component, Platform, Offering, Technology, End User, and Region” report has been added to ResearchAndMarkets.com an offer.

The global Metaverse market is expected to register an exponential compound annual growth rate of approximately 40% during the forecast period (2022-2030) and is expected to reach a revenue of US$700 billion by 2030, owing to the increasing popularity of Virtual Reality and Augmented Reality. , and mixed reality, the metaverse is gaining momentum as it helps connect the physical world with the virtual environment.

Demand for advanced hardware including VR/AR headsets, sensors and haptic devices. The end user of the metaverse includes healthcare, gaming, social media, live events, and more.

Metaverse helps in purchasing digital assets such as cryptocurrencies and non-fungible tokens (NFTs) and as these digital assets are gaining popularity day by day, this will provide a positive impact on the growth of the metaverse market. In February 2022, the 3D virtual browser-based platform Decentraland raised US$1.2 million in a metaverse interchangeable token auction.

Technology such as mixed reality, blockchain, and augmented reality in the metaverse are helping to fuel the growth of the market. Companies are starting to embrace the metaverse with Microsoft and Samsung holding 158 and 122 patents on the metaverse.

The retail and e-commerce industry is investing in the metaverse because it helps showcase products in the virtual world. In May 2021, the United Nations Conference on Trade and Development, an intergovernmental organization, stated that global e-commerce sales had reached US$26.7 trillion in 2019 which was boosted due to online sales, such an increase in e-commerce will create a huge opportunity for the market Metaverse to grow.

Rising concerns related to cyber-attacks, data breaches, destruction, destruction, disruption, system controls, and others is the most significant impediment to the growth of the metaverse market. In August 2021, the FBI’s Internet Crime Complaint Center (IC3) reported 2,084 complaints of cyberattacks from January to July 2021.

COVID-19 plays a significant role in the concept of the metaverse as people start working from home, students start online education, and users start embracing online video games. According to the Newzoo report, the total esports (electronic sports) audience reached 495 million in 2020, an increase of 11.7%. This increase in the demand for gaming audiences has had a positive impact on the growth of the metaverse market.

Competitive scene

The metaverse market is highly competitive with approximately 500 players including globally diverse players, regional players as well as a large number of specialized country players with their niche in the reverse progression of multiple industries. Most of the specialized players in the country are metaverse developers.

Global players control about 10% of the market, while regional players hold the second largest share. Some of the major players in the market are Meta Platforms, Microsoft, Nvidia, Tencent Holdings Ltd, Roblox Corporation, Nextech AR Solutions Inc, Unity Software Inc, Bytedance, Epic Games, Inc. , Decentraland, Antier Solutions, and Alibaba Group Holding Limited.

Recent developments related to the major players

In September 2022, Meta will collaborate with Qualcomm to design custom chips for extended reality platforms to deliver next-generation platforms and core technologies to accelerate the fully immersive metaverse.

In January 2022, Microsoft acquires Activision Blizzard which will bring the experience and gaming community to everyone. Activision Blizzard Inc. Microsoft is a leading game developer and publisher of interactive entertainment content. This acquisition will help the company accelerate growth in Microsoft’s games business and provide the building blocks for the metaverse.

conclusion

The global Metaverse market is expected to continue at an exponential growth rate witnessed since 2019, primarily driven by the rising demand for a 3D environment as a remote working tool during the time of the COVID-19 pandemic. Although the market is very competitive with about 500 participants, few global players command the dominant share and the regional players also have a large share.

Main topics covered in the report

  • A snapshot of the Metaverse Global Market

  • Industry value chain and ecosystem analysis

  • Market size and segmentation of the global Metaverse market

  • Historical growth of the global Metaverse market and segments

  • Competition scenario for the market and key developments for competitors

  • Porter’s Five Forces Analysis of the Global Metaverse Industry

  • Overview of product offerings and strengths and weaknesses of key competitors

  • The Impact of COVID-19 on the Global Metaverse Market

  • Future market forecasts and growth rates for the total global Metaverse market and segments

  • Market size for application/end-user segments with CAGR and future forecast

  • Analysis of the global Metaverse market in key regions

  • The main production/supply and consumption/demand centers within each region

  • Key historical and future market growth rates for the state of the total market and segments

  • An overview of the notable startup competitors in each major region

companies mentioned in the report

Report scope

The period recorded in the report

by component

  • hardware

  • Programming

  • Professional services

Depending on the platform

  • desktop

  • Moving

  • wearable

  • others

through offers

  • virtual platforms

  • asset market

  • Gods

  • financial services

by technology

by the end user

  • the games

  • Social media and live events

  • online shopping

  • Transformative Industries

  • Aerospace and defense

  • education

  • Health Care

  • Other (content creation, virtual runway shows, costumes, audition and application)

For more information on this report, visit https://www.researchandmarkets.com/r/e2dzy4

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, major companies, new products and the latest trends.

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

Leave a Comment