Statistical Report on Metaverse Market Size to Hit $730.5 Bn by 2028 | Metaverse Industry Striking CAGR of 23.2% - Report by Facts & Factors (FnF)

Facts & Factors
Facts & Factors

[207+ Pages Report] According to Facts and Factors, the Global Metaverse Market size was valued at around USD 210 Billion in 2021 and is estimated to grow about USD 730.5 Billion by 2028, at a CAGR of approximately 23.2% between 2022 and 2028. The key market players are listed in the report with their sales, revenues and strategies are Nvidia Corporation, Meta Platforms, Inc., Nextech AR Solutions Corp, Roblox Corporation, Active Theory, Unity Technologies, Inc., Microsoft Corporation, Epic Games, Inc., The Sandbox, ByteDance Ltd., NetEase, Inc., Decentraland, Tencent Holdings Ltd., Lilith Games, and others.

NEW YORK, USA, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Metaverse Market By Device (Mobile Phones, Desktop, Console, and Others), By Application (Social Media, Gaming, Online Shopping, Conferences, Content Creations, and Others), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast 2022 – 2028” in its research database.

“According to the latest research study, the demand of global Metaverse Market size & share was valued at approximately USD 210 Billion in 2021. The market is expected to grow above a CAGR of 23.2% and is anticipated to reach over USD 730.5 Billion by 2028.”

The report analyses the Metaverse market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Metaverse market.

Metaverse Market Overview:

The metaverse is a digital world amalgamation in which augmented, physical, and virtual realities converge. Core technologies are driving the success of designing an efficient metaverse environment. AR (augmented reality), VR (virtual reality), XR (extensive reality), which manages to combine virtual environments, and AI (artificial intelligence). The popularization of Mixed Reality (MR) interfaces that combine physical and virtual settings, as well as advancements in the XR environment, are expected to drive market growth in the coming years.

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Our Free Sample Report Consists of the Following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.

  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package

  • About 207+ Pages Research Report (Including Recent Research)

  • Provide detailed chapter-by-chapter guidance on Request

  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022

  • Includes Tables and figures have been updated

  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historical and Forecast Growth, Porter's 5 Forces Analysis

  • Facts and Factors research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Key Insights from Primary Research

  • As per the analysis, the Metaverse market is likely to grow above a CAGR of around 23.2% between 2022 and 2028.

  • The Metaverse market size was worth around US$ 210 Billion in 2021 and is estimated to hit approximately US$ 730.5 Billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.

  • Based on devices segmentation, the desktop segment had the largest share in 2021 due to the rising adoption of online gaming.

  • Based on application segmentation, the gaming applications are expected to dominate the market.

  • On the basis of region, North America will account for a sizable portion of the global market.

Market Growth Drivers

  • Rising demand in the gaming and entertainment industries will drive market expansion

A rise in demand in the media & entertainment, as well as gaming industries; evolving opportunities from new sectors such as Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR); and digitalization in the fashion, art, & retail industries, are anticipated to propel the growth of the global metaverse market. These major factors greatly expand the scope, reach, and offerings of the metaverse to industries and end-users. Furthermore, a transition in brand promotions using gamification and digital reality simulators has created an exponential surge for metaverse resellers to redesign cutting-edge infrastructure, 3D environment retooling, and improvisation, while providing a technologically-driven ecosystem to create the best-suited experience and transactions for end-users.

Restraints

  • Higher maintenance costs of high-end metaverse components will stymie growth

However, the market faces a variety of challenges, including security concerns, a lack of awareness, governmental regulations, and others. Major industry players have also suffered Billions of dollars in losses as a result of cyber-attacks on the environment. An increase in cyber-attacks and a high-sensitivity environment may stymie market growth.

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Metaverse Market: COVID-19 Impact Analysis

As a result of the lockdown and social isolation that occurred during the pandemic, entire lives were forced online, and this is where the difficulties with the present platforms began to appear. In addition, the pandemic has propelled the internet into the next phase of its development, known as the "Metaverse." In this phase, cyberspace has evolved into a more immersive 3D space, complete with business and networking opportunities, as well as content that corresponds to the worlds found in popular online games. The current crisis that the world is going through has sped up the development of virtual platforms such as the metaverse, along with some of the cultural trends and behaviours that are necessary for the construction of a metaverse.

In addition to this, the pandemic has hastened the development of major lifestyle spaces for constrained consumers in the form of online communities, such as new interactive worlds and mixed reality activations. In addition, as a direct consequence of COVID-19, various new developments have occurred in the realm of digital social interactions. One such development is the birth of the metaverse, which is an always-on, real-time virtual world that will provide an enormous possibility for brand commitment.

Competitive Players

The report contains qualitative and quantitative research on the global Metaverse Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

Some of the main players in the global Metaverse market include:

  • Nvidia Corporation

  • Meta Platforms, Inc.

  • Nextech AR Solutions Corp

  • Roblox Corporation

  • Active Theory

  • Unity Technologies, Inc.

  • Microsoft Corporation

  • Epic Games, Inc.

  • The Sandbox

  • ByteDance Ltd.

  • NetEase, Inc.

  • Decentraland

  • Tencent Holdings Ltd.

  • Lilith Games

Browse the full “Metaverse Market By Device (Mobile Phones, Desktop, Console, and Others), By Application (Social Media, Gaming, Online Shopping, Conferences, Content Creations, and Others), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast Report 2022 – 2028"  report at https://www.fnfresearch.com/metaverse-market

Metaverse Market: Segmentation Analysis

The global metaverse market is segmented on the basis of analysis of device, analysis of application, and region.

By analysis of device, the market is divided into mobile phones, desktop, console, and others. Due to the rising adoption of online gaming, the desktop segment had the largest share in 2021. Increasing video game revenue and a rise in the number of video gaming audiences worldwide are driving the market growth.

By analysis of application, the market is divided into social media, gaming, online shopping, conferences, content creations, and others. As gaming and live streaming video become more popular around the world, gaming applications are expected to dominate the market.

Regional Analysis:

North America will account for a substantial revenue share of more than 44% in the global metaverse market. Moreover, the huge number of start-ups concentrating on the establishment of metaverse platforms for commercial viability is expected to support the regional market's revenue growth. Furthermore, the region's significant presence of gaming and metaverse business owners such as Nvidia Corporation, The Sandbox, and Epic Games, Inc., which are focused on implementing the metaverse into games, is generating potential market growth.

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Recent Industry Developments:

  • January 2022: The Sandbox announced a collaboration with Warner Music Group to release The Sandbox metaverse's first music-themed world. With this alliance, Warner Music Group (WMG) will take its first-ever steps into the metaverse and NFT sectors.

  • November 2021: Tencent Holdings, Ltd. has announced a collaboration with the Asian Institute of Digital Finance. The companies will work together to promote Asia's fintech industry through research, education, and entrepreneurship.

Key questions answered in this report:

  • What is the market size and growth rate forecast for Metaverse industry?

  • What is the main driving factors propelling the Metaverse Market forward?

  • What are the leading companies in the Metaverse Industry?

  • What segments does the Metaverse Market cover?

  • How can I receive a free copy of the Metaverse Market sample report and company profiles?

Report Scope:

Report Attribute

Details

Market Size in 2021

USD 210 Billion

Projected Market Size in 2028

USD 730.5 Billion

CAGR Growth Rate

23.2% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Nvidia Corporation, Meta Platforms, Inc., Nextech AR Solutions Corp, Roblox Corporation, Active Theory, Unity Technologies, Inc., Microsoft Corporation, Epic Games, Inc., The Sandbox, ByteDance Ltd., NetEase, Inc., Decentraland, Tencent Holdings Ltd., Lilith Games, and Others

Key Segment

By Devices, Application, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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The global Metaverse market is segmented as follows:

By Devices

  • Mobile phones

  • Desktop

  • Console

  • Others

By Application

  • Social Media

  • Gaming

  • Online Shopping

  • Conferences

  • Content Creations

  • Others

By Region

  • North America

    • The U.S.

    • Canada

  • Europe

    • France

    • The UK

    • Spain

    • Germany

    • Italy

    • Rest of Europe

  • Asia Pacific

    • China

    • Japan

    • India

    • Southeast Asia

    • Rest of Southeast Asia

  • The Middle East & Africa

    • GCC

    • South Africa

    • Rest of the Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Ask for Free Sample Report of the Global Metaverse Market @ https://www.fnfresearch.com/sample/metaverse-market

Key Offerings:

  • Market Size, Trends, & Forecast by Revenue | 2022−2028

  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

  • Market Segmentation – A detailed analysis by Devices, Application, and Region

  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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