Metaverse Market Size is Projected to Grow at a CAGR of 40.07% During 2022-2027 | Nvidia Corporation, Facebook Inc.
Metaverse Market Size Report
The rising number of gaming zones in commercial areas is also bolstering the global metaverse market.
SHERIDAN, WY, USA, September 13, 2022 / EINPresswire.com/ -- According to IMARC Group’s latest report, “Metaverse Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the metaverse market size. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global metaverse market is expected to exhibit a CAGR of 40.07% during 2022-2027.
What is the metaverse market?
A metaverse refers to a digital reality that usually incorporates social media platforms, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrencies to enable users to interact virtually. It is self-sufficient, infinite, persistent, interoperable, and provides real-time live experiences. Consequently, the metaverse is gaining extensive traction across various countries.
COVID-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Request to Get the Sample Report: imarcgroup.com
Market Trends and Drivers:
The escalating demand for online games, on account of the emerging trend of digitization, the increasing penetration of high-speed internet connectivity, the growing sales of smartphones, etc., is primarily driving the metaverse market. Additionally, the rising number of gaming zones in commercial areas is also bolstering the global market. Besides this, the inflating popularity of virtual goods and digital currencies is propelling the utilization of the metaverse in non-fungible tokens (NFTs), which is acting as another significant growth-inducing factor.
Moreover, the widespread adoption of the metaverse in small and medium-scale enterprises (SMEs) that allows individuals to have real-time interactions and experiences, owing to the introduction of numerous cloud-based solutions and remote working models, is further catalyzing the market growth.
Apart from this, the metaverse is used in the banking, financial services and insurance (BFSI) industry to minimize the interaction between agents and customers as well as streamline operations. Furthermore, the elevating consumer inclination towards online shopping apps is expected to fuel the metaverse market in the coming years.
Competitive Landscape with Key Players:
The competitive landscape of the global metaverse market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Players Included in Global Metaverse Market Research Report:
• Alibaba Group Holding Limited
• Decentraland, Electronic Arts Inc.
• Facebook Inc.
• Nextech AR Solutions Inc.
• Nvidia Corporation
• Roblox Corporation
• The Sandbox and Unity Technologies
Key Highlights of the Market Segmentation:
The report has segmented the global metaverse market on the basis of material, application and region.
Breakup by Component:
• Hardware
• Software
• Service
Breakup by Technology:
• Blockchain
• Virtual Reality and Augmented Reality
• Mixed Reality
• Others
Breakup by Application:
• Gaming
• Online Shopping
• Content Creation and Social Media
• Events and Conference
• Digital Marketing
• Testing and Inspection
• Others
Breakup by Industry Vertical:
• BFSI
• Retail
• Media and Entertainment
• Education
• Aerospace and Defense
• Automotive
• Others
Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa
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