Press release
Metaverse in Gaming Market to Advance at 43% CAGR between 2020 and 2030
The market research made on the Metaverse in gaming is showing a potential growth of USD 40 Billion at 43% CAGR during the forecast timeline which is till 2030.
Metaverse is one digital platform that blends virtual reality with a physical realm. The gaming developing companies and also the individual companies are now connected with one another using the technology mode called a blockchain. The increased blockchain popularity to assist different platforms in the gaming world development gas gained quite a popularity. The Metaverse is one iconic open world in virtual reality that offers different choices to the online gaming platform in the AR and VR associated games.
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There are companies such as Apple that have come up with the development and research programs on the projects of the Metaverse which can blend virtual reality and augmented reality to bring the headset which is likely to cost nearly USD 3000. Metaverse has also made an announcement of the USD 10 billion investment in the coming years for developing the Metaverse technologies. These investments shall boost the online gaming industry in the future.
The virtual reality and augmented reality emergence is increasing the market growth of the Metaverse gaming industry. The gaming industry has witnessed a good boost in gaming platforms. The advancement in technology to project the virtual world in a defined way while providing the users with an unexceptional experience is now setting new trends in the gaming industry development. Metaverse had done revolutionary technological advancements in the virtual reality subsidiary called Oculus. The company is likely to sell nearly 10 million units of the Quests 2 headsets all over the glove since October 2020.
The unprecedented impact of COVID-19 impacts on the lives of the people. A sudden pandemic crisis has resulted in the implementation of the stringent rules set by the government which thus imposed the movement restrictions. Such a situation further has bound the individuals for restricting themselves within the limited boundaries and thus forced on some activities to keep up their motivation.
Before Covid-19, the market of gaming is likely to have generated a good revenue of around USD 120 billion on video games which did not even include the hardware. The generated revenue is likely to be three times more than even what the global box office revenue would make it. There are also games such as Minecraft, Roblox, and Grand Theft Auto that were likely to have -120 million monthly active players which generated around 1.5 billion playtime hours.
Market Segmentation:
As per the Component:
Software
Hardware
As per the Device Type:
Mobile
VR Headset
PCs
As per the Technology:
NFT
Augmented Reality
Extended Reality
Blockchain
Virtual Reality
Mixed Reality
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As per the Age Group:
Above 35 Years
Below 10 years
20-35 Years
11-19 Years
As per the Region:
North America
Asia Pacific
Europe
Middle East & Africa
South America
Regional Classification:
The regional analysis that has been made on the global Metaverse in the gaming market shows a classification into North America, Europe, the Asia-Pacific, the Middle East & Africa, and South America. Due to the major IT giant's presence like Google, NVIDIA, and Microsoft along with Blockchain technology acceptance, North America is a dominating region.
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Industry News:
Tencent on October 2021 established an F1 studio under the TiMi Studio Group subsidiary to focus on the development of Metaverse.
Related Reports:
https://www.marketresearchfuture.com/ja/reports/gaming-market-10768
https://www.marketresearchfuture.com/ja/reports/marine-management-software-market-10769
https://www.marketresearchfuture.com/ja/reports/gaming-console-market-10770
https://www.marketresearchfuture.com/ja/reports/contact-center-as-a-service-market-10774
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