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Metaverse Market Size, Share & Trends Analysis Report By Product, By Platform, By Technology (Blockchain, Virtual Reality (VR) & Augmented Reality (AR), Mixed Reality (MR)), By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030

February 2023 | 100 pages | ID: M87BADA83475EN
Grand View Research, Inc.

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Metaverse Market Growth & Trends

The global metaverse market size is predicted to attain USD 936.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 41.6% from 2023 to 2030, owing to increasing demand from end-use industries, which prominently include media and entertainment, education, and aerospace and defense is anticipated to propel the industry growth over the forecast period.

The market is also expected to witness growth due to the steady adoption of XR technologies to enhance user experience on various platforms. The growing demand for metaverse to purchase digital assets using cryptocurrencies is expected to drive the market significantly. The development and distribution of Augmented reality (AR), Virtual Reality (VR), and Mixed Reality (MR) devices are anticipated to spur market growth in years to come.

The prefix 'meta' is commonly used in Greek to denote 'after' or 'beyond.' The metaverse is a three-dimensional interactive and immersive environment where several people can interact through avatars. The usage of the metaverse to purchase digital assets using bitcoin is becoming more popular around the world. Gaming websites, messaging applications, and social media platforms such as Facebook are being used to communicate with one another online. The metaverse is the advent of new online environments in which people's interactions are more multidimensional and they can engage more deeply with digital content rather than merely reading it.

The metaverse is widely used as a real-time virtual world to build and leverage vast opportunities for brand connection. It would also set the stage for the next phase of post-COVID-19 digital activity, namely the emergence of digital social experiences. On Metaverse platforms that allow blockchain technology to be utilized, users can create, own, and trade autonomous digital assets and virtual regions using cryptocurrencies like Bitcoin and Ethereum, as well as nonfungible tokens (NFTs).

During the forecast period, rising demand for blockchain-based metaverse networks and platforms for trading digital assets is expected to drive considerable market revenue growth. One of the major factors driving the future expansion of the metaverse business is the rise of the gaming industry.

Recent Developments
  • In July 2022, The Spanish government declared that it would provide 3.8 million euros ($ 4.1 million) to independent contractors and small and medium-sized businesses (SMEs) with residences in European Union or Spain, engaged in research, development, and innovation initiatives involving Web3 and metaverse technologies. Additionally, the Spanish Ministry of Culture and Sports has opted to allocate 8 million euros ($8.5 million) for the creation of video games and story metaverse experiences.
  • In November 2021, Roblox Corporation, an online gaming platform based in the U.S., created a $10 million fund to support the development of online education applications in its virtual world. Additionally, mobile service providers like AT&T Intellectual Property are working together to create instructional programs and platforms that take advantage of the metaverse.
  • In November 2021, a virtual and augmented reality platform named Niantic, Inc., raised USD 300 million planning to build a real-time virtual world platform. The company raised this investment from the Pok?mon GO gaming company, Coatue.
  • In October 2021, Meta Platforms Inc. (Facebook), announced its plan to invest in the European Union by hiring 10,000 staff members to help with the creation of the metaverse. Moreover, to facilitate a metaverse competition to support new ideas and honors in the industry, Meta partnered with Colorintech, a non-profit organization with a U.K. base that works toward a more transparent and inclusive tech firm.
  • In April 2021, Epic Games Inc. received funding of 1 billion USD for driving future growth prospects in the metaverse market. The company’s funding round is consisting of a 200 million USD planned investment from the Sony Group Corporations.In
  • March 2021, The major mobile provider in Thailand, Advanced Info Services (AIS), created a metaverse retail mall to enable clients to continue their immersive shopping despite the pandemic. The metaverse retail center, known as V-Avenue, enables two million unique people to shop in more than 200 3D stores and engage in virtual reality interactions, replicating the mall experience online.
Metaverse Market Report Highlights
  • The hardware sub-segment in the product segment accounted for the largest revenue share in 2022, owing to the increased adoption of AR, VR, and MR devices
  • Displays captured the highest revenue share in the hardware sub-segment in 2022 whereas, programming engines dominated the software sub-segment with the largest revenue share
  • Desktop and headsets dominated the market with 41.94% and 34.96% of the total revenue shares in 2022, respectively, and are projected to remain the highest revenue-generating segments during the forecast period
  • The VR and AR technology sector held the largest revenue share in 2022 as multiple industries such as gaming, healthcare, education, and entertainment have increasingly incorporated VR and AR technology for numerous purposes. Human resource domains are also incorporating the use of VR and AR devices for employee training
  • In terms of offerings, the virtual platform segment accounted for the largest market share in 2022 and is anticipated to exhibit significant growth, owing to the increased adoption of these platforms for multiple uses such as adverting, branding, and academics. Many key players have also realized that virtual platforms help reduce capital expenditures and operating expenses
  • The gaming segment is projected to dominate the application segment over the forecast period. The content and social media segment is anticipated to witness considerable growth over the forecast period owing to the increased demand for social media applications
  • The North America region accounted for the largest market share in 2022, owing to the high adoption of metaverse platforms
  • The Asia Pacific region is likely to witness a robust CAGR over the forecast period, owing to factors such as demand for a better viewing experience, an increasing number of start-ups like OneRare, LOKA, and Bolly Heroes
CHAPTER 1. METHODOLOGY AND SCOPE

1.1. Market Segmentation & Scope
1.2. Market Definitions
1.3. Information Procurement
  1.3.1. Purchased Database
  1.3.2. GVR’s Internal Database
  1.3.3. Secondary Sources & Third-Party Perspectives
  1.3.4. Primary Research
1.4. Information Analysis
  1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Market Outlook
2.2. Segmental Outlook

CHAPTER 3. MARKET VARIABLE, TRENDS & SCOPE

3.1. Metaverse Market Dynamics
  3.1.1. Market Driver Analysis
  3.1.2. Market Opportunity Analysis
  3.1.3. Market Challenge Analysis
3.2. Penetration & Growth Prospect Mapping
3.3. Metaverse Market - Value Chain Analysis
3.4. Metaverse Market Industry Analysis – Porter’s
  3.4.1. Supplier Power
  3.4.2. Buyer Power
  3.4.3. Substitution Threat
  3.4.4. Threat of New Entrants
  3.4.5. Competitive Rivalry
3.5. Metaverse Market Industry Analysis - PEST
  3.5.1. Political & Legal Landscape
  3.5.2. Environmental Landscape
  3.5.3. Social Landscape
  3.5.4. Technology Landscape
3.6. Major Deals & Strategic Alliances Analysis
  3.6.1. Joint Ventures
  3.6.2. Mergers & Acquisitions
  3.6.3. Licensing & Partnership
  3.6.4. Technology Collaborations
3.7. Key Market Trends

CHAPTER 4. METAVERSE MARKET: PRODUCT ESTIMATES & TREND ANALYSIS

4.1. Metaverse Market: Product Analysis
  4.1.1. Infrastructure
    4.1.1.1. Chips & Processors
    4.1.1.2. Network Capabilities
    4.1.1.3. Cloud & Edge Infrastructure
    4.1.1.4. Cybersecurity
  4.1.2. Hardware
    4.1.2.1. Holographic Displays
    4.1.2.2. eXtended reality (XR) hardware
      4.1.2.2.1. Haptic Sensors & devices
      4.1.2.2.2. Omni Treadmills
      4.1.2.2.3. Smart Glasses
    4.1.2.3. AR/VR Devices
  4.1.3. Software
    4.1.3.1. Asset Creation Tool
    4.1.3.2. Programming Engines
    4.1.3.3. Virtual Platforms
    4.1.3.4. Avatar Development
  4.1.4. Services
    4.1.4.1. User Experiences (Events, Gaming, etc.)
    4.1.4.2. Asset Marketplaces
    4.1.4.3. Financial Services

CHAPTER 5. METAVERSE MARKET: PLATFORM ESTIMATES & TREND ANALYSIS

5.1. Metaverse Market: Platform Analysis
  5.1.1. Desktop
  5.1.2. Mobile
  5.1.3. Headsets

CHAPTER 6. METAVERSE MARKET: TECHNOLOGY ESTIMATES & TREND ANALYSIS

6.1. Metaverse Market: Technology Analysis
  6.1.1. Blockchain
  6.1.2. Virtual Reality (VR) & Augmented Reality (AR)
  6.1.3. Mixed Reality (MR)
  6.1.4. Others

CHAPTER 7. METAVERSE MARKET: APPLICATION ESTIMATES & TREND ANALYSIS

7.1. Metaverse Market: Application Analysis
  7.1.1. Gaming
  7.1.2. Online Shopping
  7.1.3. Content Creation & Social Media
  7.1.4. Events & Conference
  7.1.5. Digital Marketing (Advertising)
  7.1.6. Testing and Inspection
  7.1.7. Others

CHAPTER 8. METAVERSE MARKET: END-USE ESTIMATES & TREND ANALYSIS

8.1. Metaverse Market: End-User Analysis
  8.1.1. Aerospace & Defense
  8.1.2. Education
  8.1.3. Healthcare
  8.1.4. Tourism & Hospitality
  8.1.5. BFSI
  8.1.6. Retail
  8.1.7. Media & Entertainment
  8.1.8. Automotive
  8.1.9. Others (Manufacturing)

CHAPTER 9. METAVERSE MARKET: REGIONAL ESTIMATES & TREND ANALYSIS

9.1. Metaverse Market Share By Region, 2022 & 2030
9.2. North America
  9.2.1. US.
  9.2.2. Canada
  9.2.3. Mexico
9.3. Europe
  9.3.1. UK.
  9.3.2. Germany
  9.3.3. France
9.4. Asia Pacific
  9.4.1. China
  9.4.2. India
  9.4.3. Japan
  9.4.4. South Korea
9.5. South America
  9.5.1. Brazil
  9.5.2. Mexico
9.6. Middle East & Africa

CHAPTER 10. COMPETITIVE ANALYSIS

10.1. Recent Developments & Impact Analysis, by Key Market Participants
10.2. Company/ Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
10.3. Vendor Landscape
  10.3.1. Key Company Analysis, 2022
10.4. Company Analysis
  10.4.1. Company Market Position Analysis
  10.4.2. Competitive Dashboard Analysis

CHAPTER 11. COMPETITIVE LANDSCAPE

11.1. Meta Platforms, Inc
  11.1.1. Company Overview
  11.1.2. Financial Performance
  11.1.3. Product Benchmarking
  11.1.4. Recent Developments
11.2. Tencent Holdings Ltd.
  11.2.1. Company Overview
  11.2.2. Financial Performance
  11.2.3. Product Benchmarking
  11.2.4. Recent Developments
11.3. ByteDance, Ltd.
  11.3.1. Company Overview
  11.3.2. Financial Performance
  11.3.3. Product Benchmarking
  11.3.4. Recent Developments
11.4. NetEase, Inc
  11.4.1. Company Overview
  11.4.2. Financial Performance
  11.4.3. Product Benchmarking
  11.4.4. Recent Developments
11.5. Nvidia Corporation
  11.5.1. Company Overview
  11.5.2. Financial Performance
  11.5.3. Product Benchmarking
  11.5.4. Recent Developments
11.6. Epic Games, Inc
  11.6.1. Company Overview
  11.6.2. Financial Performance
  11.6.3. Product Benchmarking
  11.6.4. Recent Developments
11.7. Roblox Corporation
  11.7.1. Company Overview
  11.7.2. Financial Performance
  11.7.3. Product Benchmarking
  11.7.4. Recent Developments
11.8. Unity Technologies, Inc.
  11.8.1. Company Overview
  11.8.2. Financial Performance
  11.8.3. Product Benchmarking
  11.8.4. Recent Developments
11.9. Lilith Games
  11.9.1. Company Overview
  11.9.2. Financial Performance
  11.9.3. Product Benchmarking
  11.9.4. Recent Developments
11.10. Nextech AR Solution Corp.
  11.10.1. Company Overview
  11.10.2. Financial Performance
  11.10.3. Product Benchmarking
  11.10.4. Recent Developments
11.11. The Sandbox
  11.11.1. Company Overview
  11.11.2. Financial Performance
  11.11.3. Product Benchmarking
  11.11.4. Recent Developments
11.12. Active Theory
  11.12.1. Company Overview
  11.12.2. Financial Performance
  11.12.3. Product Benchmarking
  11.12.4. Recent Developments
11.13. Decentraland
  11.13.1. Company Overview
  11.13.2. Financial Performance
  11.13.3. Product Benchmarking
  11.13.4. Recent Developments
11.14. Microsoft Corporation
  11.14.1. Company Overview
  11.14.2. Financial Performance
  11.14.3. Product Benchmarking
  11.14.4. Recent Developments
LIST OF TABLES

Table 1 Metaverse market, 2017 - 2030 (USD Million)
Table 2 Metaverse market by region, 2017 - 2030 (USD Million)
Table 3 North America Metaverse market by country, 2017 - 2030 (USD Million)
Table 4 Asia Pacific Metaverse market by country, 2017 - 2030 (USD Million)
Table 5 South America Metaverse market by country, 2017 - 2030 (USD Million)
Table 6 Global Metaverse market by Product, 2017 - 2030 (USD Million)
Table 7 Global Metaverse market by hardware, 2017 - 2030 (USD Million)
Table 8 Global Metaverse market by eXtended reality (XR) components, 2017 - 2030 (USD Million)
Table 9 Global Metaverse market by software, 2017 - 2030 (USD Million)
Table 10 Global Metaverse market by technology, 2017 - 2030 (USD Million)
Table 11 Global Metaverse market by application, 2017 - 2030 (USD Million)
Table 12 Global Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 13 Global Metaverse market revenue, by region, 2017 - 2030 (USD Million)
Table 14 North America Metaverse market, 2017 - 2030 (USD Million)
Table 15 North America Metaverse market by country, 2017 - 2030 (USD Million)
Table 16 North America Metaverse market by Product, 2017 - 2030 (USD Million)
Table 17 North America Metaverse market by infrastructure, 2017 - 2030 (USD Million)
Table 18 North America Metaverse market by hardware, 2017 - 2030 (USD Million)
Table 19 North America Metaverse market by software, 2017 - 2030 (USD Million)
Table 20 North America Metaverse market by platform, 2017 - 2030 (USD Million)
Table 21 North America Metaverse market by technology, 2017 - 2030 (USD Million)
Table 22 North America Metaverse market by application, 2017 - 2030 (USD Million)
Table 23 North America Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 24 US Metaverse market by Product, 2017 - 2030 (USD Million)
Table 25 US Metaverse market by platform, 2017 - 2030 (USD Million)
Table 26 US Metaverse market by technology, 2017 - 2030 (USD Million)
Table 27 US Metaverse market by application, 2017 - 2030 (USD Million)
Table 28 U.S. Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 29 Canada Metaverse market by Product, 2017 - 2030 (USD Million)
Table 30 Canada Metaverse market by platform, 2017 - 2030 (USD Million)
Table 31 Canada Metaverse market by technology, 2017 - 2030 (USD Million)
Table 32 Canada Metaverse market by application, 2017 - 2030 (USD Million)
Table 33 Canada Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 34 Mexico Metaverse market by Product, 2017 - 2030 (USD Million)
Table 35 Mexico Metaverse market by platform, 2017 - 2030 (USD Million)
Table 36 Mexico Metaverse market by technology, 2017 - 2030 (USD Million)
Table 37 Mexico Metaverse market by application, 2017 - 2030 (USD Million)
Table 38 Mexico Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 39 Europe Metaverse market, 2017 - 2030 (USD Million)
Table 40 Europe Metaverse market by country, 2017 - 2030 (USD Million)
Table 41 Europe Metaverse market by Product, 2017 - 2030 (USD Million)
Table 42 Europe Metaverse market by hardware, 2017 - 2030 (USD Million)
Table 43 Europe Metaverse market by software, 2017 - 2030 (USD Million)
Table 44 Europe Metaverse market by platform, 2017 - 2030 (USD Million)
Table 45 Europe Metaverse market by technology, 2017 - 2030 (USD Million)
Table 46 Europe Metaverse market by application, 2017 - 2030 (USD Million)
Table 47 Europe Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 48 UK Metaverse market by Product, 2017 - 2030 (USD Million)
Table 49 UK Metaverse market by platform, 2017 - 2030 (USD Million)
Table 50 UK Metaverse market by technology, 2017 - 2030 (USD Million)
Table 51 UK Metaverse market by application, 2017 - 2030 (USD Million)
Table 52 U.K. Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 53 Germany Metaverse market by Product, 2017 - 2030 (USD Million)
Table 54 Germany Metaverse market by platform, 2017 - 2030 (USD Million)
Table 55 Germany Metaverse market by technology, 2017 - 2030 (USD Million)
Table 56 Germany Metaverse market by application, 2017 - 2030 (USD Million)
Table 57 Germany Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 58 France Metaverse market by Product, 2017 - 2030 (USD Million)
Table 59 France Metaverse market by platform, 2017 - 2030 (USD Million)
Table 60 France Metaverse market by technology, 2017 - 2030 (USD Million)
Table 61 France Metaverse market by application, 2017 - 2030 (USD Million)
Table 62 France Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 63 Asia Pacific Metaverse market, 2017 - 2030 (USD Million)
Table 64 Asia Pacific Metaverse market by country, 2017 - 2030 (USD Million)
Table 65 Asia Pacific Metaverse market by Product, 2017 - 2030 (USD Million)
Table 66 Asia Pacific Metaverse market by hardware, 2017 - 2030 (USD Million)
Table 67 Asia Pacific Metaverse market by software, 2017 - 2030 (USD Million)
Table 68 Asia Pacific Metaverse market by platform, 2017 - 2030 (USD Million)
Table 69 Asia Pacific Metaverse market by technology, 2017 - 2030 (USD Million)
Table 70 Asia Pacific Metaverse market by application, 2017 - 2030 (USD Million)
Table 71 Asia Pacific Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 72 China Metaverse market by Product, 2017 - 2030 (USD Million)
Table 73 China Metaverse market by platform, 2017 - 2030 (USD Million)
Table 74 China Metaverse market by technology, 2017 - 2030 (USD Million)
Table 75 China Metaverse market by application, 2017 - 2030 (USD Million)
Table 76 China Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 77 Japan Metaverse market by Product, 2017 - 2030 (USD Million)
Table 78 Japan Metaverse market by platform, 2017 - 2030 (USD Million)
Table 79 Japan Metaverse market by technology, 2017 - 2030 (USD Million)
Table 80 Japan Metaverse market by application, 2017 - 2030 (USD Million)
Table 81 Japan Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 82 India Metaverse market by Product, 2017 - 2030 (USD Million)
Table 83 India Metaverse market by platform, 2017 - 2030 (USD Million)
Table 84 India Metaverse market by technology, 2017 - 2030 (USD Million)
Table 85 India Metaverse market by application, 2017 - 2030 (USD Million)
Table 86 India Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 87 South Korea Metaverse market by Product, 2017 - 2030 (USD Million)
Table 88 South Korea Metaverse market by platform, 2017 - 2030 (USD Million)
Table 89 South Korea Metaverse market by technology, 2017 - 2030 (USD Million)
Table 90 South Korea Metaverse market by application, 2017 - 2030 (USD Million)
Table 91 South Korea Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 92 South America Metaverse market, 2017 - 2030 (USD Million)
Table 93 South America Metaverse market by country, 2017 - 2030 (USD Million)
Table 94 South America Metaverse market by Product, 2017 - 2030 (USD Million)
Table 95 South America Metaverse market by hardware, 2017 - 2030 (USD Million)
Table 96 South America Metaverse market by software, 2017 - 2030 (USD Million)
Table 97 South America Metaverse market by platform, 2017 - 2030 (USD Million)
Table 98 South America Metaverse market by technology, 2017 - 2030 (USD Million)
Table 99 South America Metaverse market by application, 2017 - 2030 (USD Million)
Table 100 South America Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 101 Brazil Metaverse market by Product, 2017 - 2030 (USD Million)
Table 102 Brazil Metaverse market by platform, 2017 - 2030 (USD Million)
Table 103 Brazil Metaverse market by technology, 2017 - 2030 (USD Million)
Table 104 Brazil Metaverse market by application, 2017 - 2030 (USD Million)
Table 105 Brazil Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 106 Middle East & Africa Metaverse market, 2017 - 2030 (USD Million)
Table 107 Middle East & Africa Metaverse market by country, 2017 - 2030 (USD Million)
Table 108 Middle East & Africa Metaverse market by Product, 2017 - 2030 (USD Million)
Table 109 Middle East & Africa Metaverse market by hardware, 2017 - 2030 (USD Million)
Table 110 Middle East & Africa Metaverse market by software, 2017 - 2030 (USD Million)
Table 111 Middle East & Africa Metaverse market by platform, 2017 - 2030 (USD Million)
Table 112 Middle East & Africa Metaverse market by technology, 2017 - 2030 (USD Million)
Table 113 Middle East & Africa Metaverse market by application, 2017 - 2030 (USD Million)
Table 114 Middle East & Africa Metaverse market by end-user, 2017 - 2030 (USD Million)
Table 115 Company categorization
LIST OF FIGURES

Fig. 1 Metaverse Market Segmentation
Fig. 2 Metaverse Market Report Scope
Fig. 3 Metaverse Market Size (Revenue in USD Million) 2017 - 2030
Fig. 4 Metaverse Market Analysis - Market Dynamics
Fig. 5 Metaverse Market Size and Growth Prospects (Revenue in USD Million) 2017 - 2030
Fig. 6 Metaverse Market - Value Chain Analysis
Fig. 7 Metaverse Market Analysis - Porter’s
Fig. 8 Metaverse Market Analysis - PEST
Fig. 9 Metaverse Market - Product Movement Analysis
Fig. 10 Metaverse Market - Platform Movement Analysis
Fig. 11 Metaverse Market - Application Movement Analysis
Fig. 12 Metaverse Market - Technology Movement Analysis
Fig. 13 Metaverse Market - End-Use Movement Analysis
Fig. 14 Regional Marketplace: Key Takeaways
Fig. 15 Metaverse Market - Regional Movement Analysis
Fig. 16 North America - Key Takeaways
Fig. 17 Europe - Key Takeaways
Fig. 18 Asia Pacific - Key Takeaways
Fig. 19 South America - Key Takeaways
Fig. 20 South America - Key Takeaways
Fig. 21 Metaverse Market - Key Company Market Share Analysis, 2022
Fig. 22 Metaverse Market - Market Position Analysis
Fig. 23 Metaverse Market - Competitive Dashboard Analysis


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