Press release
Metaverse In Gaming Global Market Worth $194.92 Billion By 2028 Rapid Growth Predicted CAGR of 42.2% | Meta Platforms Inc., Sony Corporation, Fujitsu Limited, NetEase Inc., WPP plc
Metaverse In Gaming Global Market
As per the report, the metaverse in gaming market size has grown exponentially in recent years. It will grow from $33.6 billion in 2023 to $47.7 billion in 2024 at a compound annual growth rate (CAGR) of 42%. The metaverse in gaming market size is expected to see exponential growth in the next few years. It will grow to $194.92 billion in 2028 at a compound annual growth rate (CAGR) of 42.2%.
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Role Of Augmented Reality (AR) And Virtual Reality (VR) Enhanced Metaverse In Gaming Market
The rising popularity of augmented reality (AR) and virtual reality (VR) is expected to propel the growth of the metaverse in the gaming market going forward. Augmented reality (AR) enhances the real world with digital content, while virtual reality (VR) immerses users in entirely digital environments through specialized headsets. The growing popularity of AR and VR stems from their ability to provide immersive, interactive experiences across gaming, education, healthcare, and entertainment, transforming digital content interaction and real-world engagement. AR and VR use the metaverse in gaming to create immersive and interconnected virtual experiences, allowing players to interact with each other and digital environments seamlessly, enhancing gameplay and social interaction. For instance, in February 2023, according to XR Today, a UK-based technology podcast company, approximately 57.4 million people in the United States owned a VR headset in 2020, and this figure had risen to 37.7 million in 2022. Therefore, the rising popularity of AR and VR is driving the growth of the metaverse in the gaming market.
Community-Driven Gaming Platforms Shaping The Metaverse Landscape
Major companies operating in the metaverse in the gaming market are focusing on the development of advance platforms such as community-driven gaming platforms to enhance immersive experiences and foster user engagement. These platforms harness the collective creativity, passion, and expertise of players to shape the gaming experience and create vibrant, thriving communities. For instance, in January 2024, Nifty Island LLC, a US-based play-to-earn gaming platform, launched its open beta version of metaverse games, offering players a unique gaming experience with avatars from renowned non-fungible token (NFT) collections such as Azuki, Bored Apes, CloneX, and CoolCats. Additionally, Nifty Island's play-to-airdrop system, which rewards players with tokens and NFTs for their participation and enhances the connection between the game and the broader Web3 ecosystem, offers crypto rewards that align with the principles of the metaverse as a decentralized and interconnected virtual space.
The metaverse in gaming market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Technology: Non-Fungible Token (NFT), Blockchain, Virtual Reality, Augmented Reality, Mixed Reality, Extended Reality
3) By Genre: Action, Adventure, Role-Playing Games (RPGs), Simulation, Sports And Racing, Strategy, Sandbox, Card And Cas*ino Games, Other Genres
4) By Age Group: Below 21 Years, 21 - 35 Years, 36 - 50 Years, 51 Years And Above
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Major companies operating in the metaverse in gaming market are Microsoft Corporation, Meta Platforms Inc., Sony Corporation, Fujitsu Limited, Nvidia Corporation, WPP plc, NetEase Inc., Electronic Arts Inc., Vertiv Group Corporation, Epic Games Inc., Autodesk Inc., Roblox Corporation, Unity Software Inc., Axie Infinity, Magic Leap Inc., Kellton Tech Solutions Ltd., LeewayHertz Inc., Aetsoft Inc., Aptos Labs, SmartMedia Technologies Inc., Spatial Systems Inc., The Sandbox
Contents of the report:
1. Executive Summary
2. Metaverse In Gaming Market Report Structure
3. Metaverse In Gaming Market Trends And Strategies
4. Metaverse In Gaming Market - Macro Economic Scenario
5. Metaverse In Gaming Market Size And Growth
…..
27. Metaverse In Gaming Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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