Metaverse

The Metaverse market is projected to reach a value of US$83.4m in 2024.
This market is expected to experience an annual growth rate of 40.63% (CAGR 2024-2030), resulting in a projected market volume of US$645.0m by 2030.
The United States dominates this market, generating the most value with a projected market volume of US$23.0bn in 2024.
In terms of user base, the number of users in the Metaverse market is expected to reach 3.0m users by 2030.
User penetration, which measures the percentage of the population using the Metaverse market, is projected to be 16.7% in 2024 and is expected to increase to 53.4% by 2030.
The average value per user (ARPU) is expected to amount to US$85.8.
It is worth noting that these projections are subject to change and are based on current trends and assumptions.
The Metaverse market presents significant opportunities for growth and innovation, and its impact on various industries and economies, including the Baltics, should not be underestimated.
The Baltic countries are experiencing a surge in virtual reality adoption, with a growing number of Metaverse platforms being developed and embraced by tech-savvy individuals and businesses.

Definition:

The term metaverse refers to a virtual world or collection of virtual worlds that exist in a shared digital space and can be accessed by users through the internet. It typically includes virtual reality, augmented reality, and other immersive technologies. Its scope encompasses a wide range of possibilities and opportunities in education, entertainment, health and fitness, and even remote work, but it is commonly associated with eCommerce and gaming.

Structure:

The Metaverse market covers the markets eCommerce, Gaming, and Education. The eCommerce market covers all goods that can be purchased and distributed within and throughout the metaverse. Gaming encompasses all games that are either directly involved in classified metaverse apps or collaborative open-world games. Education covers the range of possibilities for consumers to experience courses, classes, field trips, and more in the metaverse. For a more detailed explanation of all the markets, see the respective market page.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through in-app purchases, advertising spending, and consumer spending on apps, games, items, products, and hardware such as headsets or glasses. Sales channel data shows both online and offline market sizes. Information on gaming, eCommerce, virtual assets, digital media, digital health, digital advertising, and education can also be found in the Digital Market Insights. Information on AR & VR hardware can also be found in the Advertising & Media Insights. Key players of the market include companies such as Meta, Roblox, Epic Games, and Decentraland.

Open-world games with social interaction, such as Fortnite
Ecommerce marketplaces, such as NIKELAND in Roblox
Virtual Assets used to buy goods in the metaverse, such as Ethereum
Education in form of online classes or certificates in the metaverse, such as Decentraland University

Non-related open-world games, such as World of Warcraft
Physical goods, service and products bought with cryptocurrencies, such as Fashion
Non-fungible Tokens bought as personal collectable, such as non-metaverse selection on OpenSea

The Metaverse market in Baltics is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Baltics are shifting towards immersive and interactive digital experiences.

With the advancement of technology, people are increasingly seeking virtual environments that offer a sense of presence and engagement. The Metaverse provides a platform for individuals to explore, socialize, and interact with others in a virtual world. This appeals to the tech-savvy population in the Baltics who are eager to embrace new digital experiences.

Trends in the Metaverse market in the Baltics are also contributing to its growth. Companies are recognizing the potential of the Metaverse as a new frontier for business opportunities. They are leveraging the Metaverse to create virtual showrooms, online marketplaces, and virtual events, allowing them to reach a wider audience and engage customers in innovative ways.

Additionally, the gaming industry in the Baltics is thriving, with a growing number of game developers and studios focusing on creating immersive virtual experiences. This trend is further driving the adoption of the Metaverse in the region. Local special circumstances in the Baltics also play a role in the development of the Metaverse market.

The Baltics have a vibrant tech startup ecosystem, with a strong focus on innovation and digital technologies. This entrepreneurial spirit and technological expertise provide a conducive environment for the growth of the Metaverse industry. Furthermore, the relatively small size of the Baltic countries allows for easier collaboration and experimentation within the industry, fostering a sense of community and cooperation among Metaverse enthusiasts and professionals.

Underlying macroeconomic factors also contribute to the growth of the Metaverse market in the Baltics. The Baltic countries have experienced steady economic growth in recent years, with a high level of digitalization across various sectors. This provides a solid foundation for the adoption of emerging technologies such as the Metaverse.

Additionally, the Baltic governments have been supportive of the tech industry, offering incentives and support for startups and innovation. This favorable business environment encourages investment and development in the Metaverse market. In conclusion, the Metaverse market in the Baltics is witnessing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

As the demand for immersive digital experiences continues to rise, the Metaverse offers a promising avenue for businesses and individuals in the Baltics to explore and engage in a virtual world.

Data coverage:

Figures are based on advertising spending, in-app spending, in-game spending, online and offline sales, consumer spending, app downloads, and investment and funding data.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Regarded as the next iteration of the internet, the metaverse is where the physical and digital worlds come together. As an evolution of social technologies, the metaverse allows digital representations of people, avatars, to interact with each other in a variety of settings. Whether it be at work, in an office, going to concerts or sports events, or even trying on clothes, the metaverse provides a space for endless, interconnected virtual communities using virtual reality (VR) headsets, augmented reality (AR) glasses, smartphone apps, or other devices.