Metaverse Market To Exhibit Double-Digit Growth With CAGR of 39.5% Over 2022-2028

29-Apr-2022 | Zion Market Research

According to Zion Market Research study, Metaverse Market accrued ROI of approximately around US$ 47.49 billion in 2021 and is expected to gain income of almost US$ 400.5 billion in 2028. Apparently, Metaverse Industry is set to record humungous gains of about 39.5% in timespan of 2022 to 2028. With 5G, cloud computing, and edge computing becoming a citadel of modern technological domain, the market for metaverse is expected to expand leaps & bounds in coming decade.  Apart from this, large-scale implementation of metaverse technology in video gaming and virtual reality is likely to expand scope of growth of metaverse market in upcoming years. In addition to this, other slew of applications of metaverse tools include Online Shopping, social media, events & conferences, digital marketing, and testing & inspection activities. This, in turn, is slated to generate new growth avenues for metaverse market in near future. Nonetheless, cyber-attack threat is the key concern that will impede growth of metaverse market.

Hardware Segment To Register Highest CAGR Over Forecasting Period

The rapid expansion of hardware segment over forecasting years can be due to massive focus of firms on         enhancing end-user experience and massive use of immersive technology. In addition to this, need for improving hardware quality, companies are focusing on developing improved AR/VR headsets, sensors, and haptic equipment and this will open new vistas of growth for hardware segment. Apparently, massive surge in interface designing allowing individuals in accessing 3D content on various equipment including smartphones, next-gen televisions, and HoloLens will steer segmental expansion.

Virtual Reality (VR) & Augmented Reality (AR) Segment To Lead Technology Landscape By 2028

Growth of this technology segment in 2022-2028 can be credited to use of metaverse technology in 3D virtual environments in synchronization with AR & VR tools. Apart from this, AR and VR integrate with metaverse for creating a virtual presence. Furthermore, AR as well as VR are projected to be next-gen technologies and hence segment will gain traction over coming years.

Global Metaverse Market

Media & Entertainment Sector To Contribute Highest Chunk Of Metaverse Market Revenue By 2028

A prominent surge in expansion of media & entertainment segment over forecasting timeline can be credited to increase in virtual music concerts organized by giant business houses. In addition to this, rise in accepgtance of metaverse technology by various firms operating in media & entertainment sector will push expansion of media & entertainment sector in upcoming years.

Asia Pacific Metaverse Market To Record Highest CAGR Over 2022-2028

Growth of metaverse market in APAC region in next couple of years can be attributed to increase in presence of start-ups firms such as Axie Infinity, The Sandbox, GuildFi, and Bolly Heroes in region. Apart from this, increase in virtual meataverse marketplace & thriving gaming tools providing effectuate immersive experience will pave a way for regional market growth.

Some of key participants are predicted to leverage growth of metaverse industry and are likely to do so even in ensuing years. They are Nextech AR Solutions Corp., Meta Platforms, Inc., NetEase, Inc., Nvidia Corporation, Tencent Holdings Ltd., Microsoft Corporation, Roblox Corporation, Unity Technologies, Inc., ByteDance Ltd., The Sandbox, and Epic Games, Inc.

Browse the full Metaverse Market- By Product (Hardware, Software, and Services) By Platform (Desktop and Mobile), By Technology (Blockchain, Virtual Reality (VR) & Augmented Reality (AR), and Mixed Reality (MR)), By Offering (Virtual Platforms, Asset Marketplace, Avatars, and Financial Services), By Application (Gaming, Online Shopping, Content Creation & Social Media, Events & Conferences, Digital Marketing (advertising), Testing & Inspection, and Others), By End Use (Fashion, Manufacturing, Media & Entertainment, Aerospace & Defense, Education, Automotive, Travel & Tourism, Manufacturing, and Finance): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends And Forecast, 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/metaverse-market

The global Metaverse Market is segmented as follows:

By Product

  • Hardware
  • Software
  • Services

By Platform

  • Desktop
  • Mobile

By Technology

  • Blockchain
  • Virtual Reality (VR) & Augmented Reality (AR)
  • Mixed Reality (MR)

By Offering

  • Virtual Platforms
  • Asset Marketplace
  • Avatars
  • Financial Services

By Application

  • Gaming
  • Online Shopping
  • Content Creation & Social Media
  • Events & Conferences, Digital Marketing (advertising)
  • Testing & Inspection
  • Others

By End Use

  • Fashion
  • Manufacturing
  • Media & Entertainment
  • Aerospace & Defense
  • Education
  • Automotive
  • Travel & Tourism
  • Manufacturing
  • Finance

By Region

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

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