Metaverse

The Metaverse market is poised to achieve a remarkable value of US$230.9m in 2024, with a projected annual growth rate (CAGR 2024-2030) of 41.61%.
This growth trajectory is expected to propel the market volume to an impressive US$1.9bn by 2030.
It is worth noting that United States dominates the market, generating a significant market volume of US$23.0bn in 2024.
Looking ahead, the Metaverse market anticipates a surge in the number of users, reaching an estimated 13.6m users by 2030.
The user penetration rate is predicted to rise from 2.5% in 2024 to 7.4% by 2030.
This indicates a growing interest and adoption of the Metaverse market among individuals.
When considering the average Value per user (ARPU), it is expected to reach a figure of US$53.2.
This metric provides insights into the value generated by each user within the Metaverse market.
In conclusion, the Metaverse market is experiencing substantial growth and is projected to reach impressive milestones in the coming years.
The United States currently leads the market, but other countries, including in Bangladesh, have the potential to tap into this lucrative market segment.
Despite the growing interest in the Metaverse globally, Bangladesh is still in the early stages of exploring its potential.

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 Bangladesh has been steadily developing in recent years, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Bangladesh have played a significant role in the growth of the Metaverse market.

With a young and tech-savvy population, there is a strong demand for immersive and interactive digital experiences. Bangladeshi consumers are increasingly seeking virtual worlds where they can socialize, explore, and engage in various activities. This preference for digital experiences has fueled the adoption of Metaverse platforms and applications in the country.

Trends in the market have also contributed to the development of the Metaverse market in Bangladesh. The global rise of Metaverse concepts and technologies has had a ripple effect, reaching even emerging markets like Bangladesh. As major tech companies invest in Metaverse development and virtual reality advancements, the availability and accessibility of Metaverse platforms and applications have increased in Bangladesh.

This has led to a growing number of users and a wider range of digital experiences within the country's Metaverse market. Local special circumstances in Bangladesh have further facilitated the growth of the Metaverse market. The country's relatively low labor costs and abundant tech talent have attracted international companies to establish Metaverse-related operations in Bangladesh.

This has not only created employment opportunities but has also contributed to the development of local expertise and skills in Metaverse technologies. Additionally, the government's focus on digitalization and technology-driven initiatives has created a favorable environment for the Metaverse market to thrive. Underlying macroeconomic factors have also played a role in the development of the Metaverse market in Bangladesh.

The country's strong economic growth and increasing disposable incomes have enabled more people to afford Metaverse devices and experiences. As the middle class expands and consumer purchasing power increases, the demand for Metaverse products and services is expected to continue growing. Furthermore, the government's investments in infrastructure development, including broadband internet connectivity, have improved the accessibility and quality of Metaverse experiences for users across the country.

In conclusion, the Metaverse market in Bangladesh is developing due to customer preferences for immersive digital experiences, global trends in Metaverse technologies, local special circumstances such as low labor costs and government support, and underlying macroeconomic factors such as economic growth and improved infrastructure. As these factors continue to evolve, the Metaverse market in Bangladesh is expected to further expand, providing new opportunities for businesses and consumers alike.

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.