Press release
Analytical Report on Metaverse Market - The Industry Size to Reach 678.80 Billion by 2030, with a CAGR of 39.44% CAGR
Metaverse Market Insights:
• The hardware segment generated $16.58 billion in 2021on the basis of components.
• With USD 16.38 billion in 2021, the desktop segment contributed to the largest metaverse market share on the basis of the platform.
• On the basis of technology, the virtual and augmented reality segments held a revenue share of 36% in 2021.
• With a revenue share of 27.17%, the gaming segment ruled the overall market in 2021 on the basis of application.
• By end-user, the media and entertainment segment held a significant share of more than 39% of the market in 2021.
• Geographically, in 2021 North America led the market with a significant revenue share of nearly 46%.
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Metaverse Market Dynamics
The leading software developers and start-up businesses are increasingly interested in and focused on fusing and converging the digital and physical worlds. Other factors driving the market growth include the rising smartphone and internet penetration in developing regions, the rising adoption and acceptability of mixed reality, and the COVID-19 pandemic. The market is also being supported by an increase in the number of product launch strategies, particularly in the gaming industry, the penetration of blockchain technology into 3D environments, and the rising popularity of trading digital goods and tokens.
The COVID-19 pandemic has accelerated the Metaverse market, which is expected to grow at an increasing rate since 2020. Some factors that contributed to the high usage of Metaverse in the market include the rising trend of remote working protocols, an increase in online retail shopping, and a significant transition from offline to online teaching methods.
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Metaverse Market Segmentation Analysis
The Metaverse Market segmentation has been performed on the basis of components, platform, technology, application, offering, end-user, and region.
By Component:
• Software
• Services
• Hardware
By Platform:
• Headsets
• Desktop
• Mobile
By Technology
• Mixed Reality
• Internet of Things
• Virtual Reality & Augmented Reality
• Blockchain
• Others
By Offering
• Avatars
• Asset Marketplace
• Financial Services
• Virtual Platforms
By Application
• Online Shopping
• Gaming
• Online Education
• Virtual Goods
• Advertising
• Content Creation & Social Media
• NFT
• Payments
• Blockchain Operations
• Edge Computing
• Conferences
By End-User
• Fashion
• Healthcare
• Education
• Military
• Customer Experience
• Manufacturing
• Real Estate
• Media and Entertainment
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By Region
North America
• Canada
• Mexico
• United States
• Rest of North America
Europe
• United Kingdom
• France
• Germany
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• South Korea
• Rest of the Asia Pacific
South America
• Brazil
• Rest of the South America
The Middle East and Africa
• South Africa
• Saudi Arabia
• United Arab Emirates
• Rest of the Middle East & Africa
Geographically, in 2021 North America led the market with a significant revenue share of nearly 46%. The market is growing due to numerous companies in the North American market. Over the estimated period, the Asia Pacific region will grow rapidly. The expansion of the market in the Asia Pacific region is anticipated to be driven by an increasing number of start-ups and organizations, including The Sandbox, GuildFi, Shenzhen Zhongqingbaowang Interaction Network Co., Ltd., Bolly Heroes, Axie Infinity, NextMeet, and miHoYo Co., Ltd. in China.
Key players in Metaverse Market:
• Globant
• Alibaba Cloud
• Roblox Corporation
• Microsoft Corporation
• Nvidia Corporation
• Meta, Inc.
• Magic Leap, Inc
• Netease, Inc.
• Alphabet, Inc.
• Tencent holdings Ltd.
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