The Metaverse Market is appreciating to demonstrate a substantial upswing of a CAGR of 19.40% during the forecasted period of 2021 to 2030. The Metaverse Market was valued at USD 23.5 billion in 2021 and is estimated to display a significant improvement to reach USD 137.16 billion by 2030.
The word metaverse refers to a deeply immersive 3D virtual world experience gained by the employment of a combination of AR, VR, and MR technologies. By creating a virtual world where users may play immersive games, conduct business, interact socially, buy and sell virtual properties, and enjoy immersive entertainment, the metaverse platform enhances the internet experience.
A number of social media sites, industry titans, and developers of online games have joined the well-known technology platform known as Metaverse to build a foothold in the market. For a variety of purposes, including gaming, content creation, social interaction, learning and training, and virtual commerce online, the metaverse is a rapidly expanding trend with a sizable user base. The global media, entertainment, and gaming businesses have grown the fastest as a result of the increasing popularity of AR, VR, and MR technologies.
Metaverse Market: Segmentation Analysis
By Product:
Based on the Product segment the market is further sub-divided into following types, of which the Software sub-segment is projected to grow with a highest CAGR with respect to development of advanced software technology and platform by leading partners.
Hardware
- Displays
- Extended Reality (XR) Hardware
- Haptic Sensors Devices
- Smart Glasses
- Omni Treadmills
- AR/VR Headsets
- Others
Software
- Asset Creation Tools
- Programming Engines
- Services
By Platform:
Based on the Platform segment, the market is further sub-divided into following types. Of all types of platforms, the desktop held the largest market share in 2021 owing to rise in online gaming adoption.
- Desktop
- Mobile
- Wearables
By Technology:
- Blockchain
- Virtual Reality (VR) Augmented Reality (AR)
- Mixed Reality (MR)
- Others
By Offering:
- Virtual Platforms
- Asset Marketplace
- Avatars
- Financial Services
By Applications:
Based on the Application segment the market is further sub-divided into following types, of which gaming segment is expected to hold a largest share with respect to rising gaming options, especially live video streaming across all platforms.
- Gaming
- Online Shopping
- Content Creation Social Media
- Events Conference
- Digital Marketing (Advertising)
- Testing and Inspection
- Others
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Top Key Players:-
- 3i Inc.
- Atari, Inc.
- Autodesk Inc.
- Dapper Labs
- Decentraland
- Epic Games, Inc.
- Fastly
- Google LLC
- IBM Corporation
- Madeium
- Magic Leap, Inc.
- Meta Platforms, Inc.
- Microsoft Corporation
- Nextech AR Solutions Inc.
- NVIDIA Corporation
- Oracle Corporation
- PTC Inc.
- Roblox Corporation
- Synthesis AI
- Unity Technologies, Inc.
- Lilith Games
- The Sandbox
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