According to the latest analysis from Emergen Research, the global metaverse market size is projected to reach USD 1,607.12 billion by 2030, registering a CAGR of 43.3% over the forecast period. The revenue growth of the global metaverse market is expected to be driven by key factors such as the growing demand for virtual, augmented and mixed reality-based applications and products and the growing focus on the convergence of digital/virtual and physical worlds. Moreover, with the rise of Blockchain technology, Web 3.0 (Web3), low-code and no-code application platforms, coupled with advances in motion tracking systems and cybernetics, artists and developers are taking control of their online content, which is expected. to support market revenue growth in the near future.
Metaverse will bring people closer to the future of Web3, where artists and developers can take back control of their online content and people can take back control of their personal identities. Each new blockchain concept and solution is rapidly being evaluated as a potential module to integrate into the Web 3.0 engine that will support the traction of metaverse products and services. Mark Cuban, an American entrepreneur, recognized the importance of blockchain in the development of the metaverse world. He created his non-fungible token (NFT) company, Lazy.com, a digital art gallery that aims to promote NFTs in the same way that typical art galleries do, with the help of Polygon Studios, a new NFT center. game center and metaverse intended to enable web 3.0 play. The latter is funded with a $100 million investment to drive the widespread adoption of metaverse projects.
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Developers need to create an open environment in which more people can create content, and low-code and no-code application platforms are suitable for this. The growing focus of game companies on developing low-code and no-code metaverse game creation platforms that allow users to create content is expected to represent growth opportunities in the metaverse industry. For example, in January 2022, Yahaha Studios, a Finland-based company, raised $50 million in investment to develop a no-code metaverse game creation platform. Users of different skill levels can use the platform to create and run their own games, as well as monetize existing games. This platform also allows users to distribute their builds across multiple platforms. While there will always be a great need for programmers, about 50% of large enterprises are expected to use low-code platforms to develop at least some of their infrastructure.
The report examines in detail the growth opportunities, challenges, market drivers and restraints, restraints, threats and demands of the Metaverse market. The study further assesses both the regional market and the international market to understand the size of the market. The report also provides estimates and forecasts for the market segment and sub-segments showing promising growth over the forecast timeline. The report also offers deeper insights into the technological advancements, industry landscape, and emerging product and technology developments in the Metaverse market. It provides fruitful business insights to help companies capitalize on lucrative growth opportunities.
The report further provides comprehensive SWOT analysis and Porter’s Five Forces analysis to better understand the industry’s competitive landscape. It also covers the strategies of leading players such as mergers and acquisitions, collaborations, joint ventures, product launches and brand promotions, among others. The report aims to provide readers with a comprehensive understanding of the relevant industry characteristics.
The key players profiled in the report are:
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.
Moreover, the report provides a comprehensive overview of the Metaverse market along with the product portfolio and market performance. The report provides key insights into market share, supply chain analysis, supply and demand ratio, import/export details, and product and consumption patterns. For better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographic regions where the market is present.
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The analysis of the segments and their growth projection is carried out by a historical and current in-depth analysis of the market scenario. Moreover, the report provides details of the Metaverse market drivers and characteristics that are expected to propel the growth of the industry in the coming years.
For the purposes of this report, Emergen Research has segmented the global metaverse market by component, platform, offering, technology, application, end use, and region:
- Components Outlook (Revenue, USD billion; 2019 – 2030)
- Platform Outlook (Revenue, Billion Dollars; 2019 – 2030)
- Bidding Outlook (yield, USD billion; 2019 – 2030)
- Virtual platforms
- Asset Market:
- Financial services
- Technology Outlook (Yield, USD Billion; 2019 – 2030)
- Application Outlook (Yield, USD Billion; 2019 – 2030)
- Online shopping
- Content creation
- social media
- Virtual parades
- Airplane maintenance
- Outlook End Use (Revenue, Billion USD; 2019 – 2030)
- Media and entertainment
- Aerospace and Defense
Key questions answered by the report:
What is the market growth rate of Metaverse? What is the projected market valuation of the Metaverse industry in 2028?
What are the key growth drivers and restraining factors of the Metaverse market?
Who are the main players in the market? What are the main strategies of these companies?
What are the key opportunities and growth prospects of the Metaverse industry during the forecast period?
Which region is expected to show strong growth in the coming years?
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