DUBLIN–(BUSINESS WIRE)–The “Metaverse Market Share, Size, Trends, Industry Analysis Report, By Component; By Technology; By Application; By Industry Vertical; By Region; Segment Forecast, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global metaverse market size is expected to reach USD 680.80 billion by 2030
The metaverse is an online reality that is an amalgamation of online gaming, social media, augmented reality (AR), virtual reality (VR), and cryptocurrencies, wherein users can interact with each other virtually. Augmented reality showcases visual features, noise, and other sensory input in real-life situations to augment the user experience.
The global market is highly competitive owing to the existence of large market players with global presence including include Alibaba Group Holding Limited, ByteDance Ltd, Facebook, Inc., Huawei Technologies Co. Ltd., Meta, Microsoft Corporation, Nextech AR Solutions Inc., NVIDIA Corporation, Roblox Corporation, and Sandbox VR among others
Moreover, during COVID-19, when governments across the world announced lockdown and people were working from home, the key vendors introduced such platforms as a replacement for outdoor social interaction in the comfort of a user’s home, hosting highly public events such as music concerts and meetups to offer virtual tour opportunities to famous global landmarks. Such use cases of these platforms drove its growth during the period.
Based on a study, in April 2022, the average time spent on social media increased from just 1 hour in 2012 to over 2 hours and 24 minutes in 2020. Moreover, time spent on social media platforms was heavily inflated during the pandemic, as people stuck in their homes relied on social media platforms for interactions with their peers, friends, and family. Such factors further supported the growth of metaverse platforms during the period.
Furthermore, these platforms provided businesses with easily interact with their audiences and customers, which led to their engagement and hence overall customer satisfaction. This led to a rise in the growth of the industry during the period.
Metaverse Market Report Highlights
- Software segment is expected to hold a significant share in 2021, due to the appealing interface and intuitiveness of the software
- Content creation and social media is expected to be the most lucrative segment, owing to the growing content creators across the globe and surge in need for metaverse platform by various content creators
- North America region will lead the global market by 2030 on account of presence of leading players in the region, greater technological adoption, and rise in investment in development of new technologies
Key Topics Covered:
2. Executive Summary
3. Research Methodology
4. Global Metaverse Market Insights
4.1. Metaverse – Industry Snapshot
4.2. Metaverse Market Dynamics
4.2.1. Drivers and Opportunities
184.108.40.206. Increasing demand in the entertainment and gaming industry
220.127.116.11. Continuous development in 5G technology
4.2.2. Restraints and Challenges
18.104.22.168. Health and mental issues from excessive use
4.3. Porter’s Five Forces Analysis
4.4. PESTLE Analysis
4.5. Metaverse Industry Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Metaverse Market, by Application
5.1. Key Findings
5.2.1. Global Metaverse Market, by Application, 2018 – 2030 (USD Billion)
5.3. Digital Marketing
5.4. Content Creation and Social Media
5.6. Events and Conference
5.7. Online Shopping
5.8. Testing and Inspection
6. Global Metaverse Market, by Component
6.1. Key Findings
6.2.1. Global Metaverse Market, by Component, 2018 – 2030 (USD Billion)
7. Global Metaverse Market, by Technology
7.1. Key Findings
7.2.1. Global Metaverse Market, by Technology, 2018 – 2030 (USD Billion)
7.4. Virtual Reality and Augmented Reality
7.5. Mixed Reality
8. Global Metaverse Market, by Industry Vertical
8.1. Key Findings
8.2.1. Global Metaverse Market, by Industry Vertical, 2018 – 2030 (USD Billion)
8.4. Media & Entertainment
9. Global Metaverse Market, by Geography
9.1. Key findings
9.2.1. Metaverse Market Assessment, By Geography, 2018 – 2030 (USD Billion)
10. Competitive Landscape
10.1. Expansion and Acquisition Analysis
11. Company Profiles
- Alibaba Group Holding Limited
- ByteDance Ltd
- Facebook Inc.
- Huawei Technologies Co. Ltd.
- Microsoft Corporation
- Nextech AR Solutions Inc.
- NVIDIA Corporation
- Roblox Corporation
- Sandbox VR
- Shenzhen Zqgame Co. Ltd
- Unity Technologies
- VR Chat
For more information about this report visit https://www.researchandmarkets.com/r/pp7pn1