Metaverse

The Metaverse market is expected to reach a value of US$223.5m in 2024, projecting a substantial growth rate of 40.16% annually from 2024 to 2030.
According to these estimates, the market volume is projected to reach US$1.7bn by 2030.
In 2024, the market volume is projected to be US$23.0bn, with the majority of the value being generated United States.
This indicates the significant presence of the Metaverse market in the country of Chile.
Looking ahead to the number of users in the Metaverse market, it is expected to amount to 9.9m users by 2030.
In 2024, the user penetration is estimated to be 16.7%, and this figure is projected to increase to 49.7% by 2030.
Lastly, the average Value per user, also known as the Average Revenue Per User (ARPU), is expected to reach US$68.2.
This metric provides insights into the average value generated per user within the Metaverse market.
Chile's thriving gaming industry and tech-savvy population make it a promising market for Metaverse platforms and virtual reality experiences.

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 Chile is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Chile are playing a crucial role in the development of the Metaverse market.

Chileans are increasingly seeking immersive and interactive experiences, where they can engage with virtual worlds and connect with others. This preference for virtual experiences is driven by the desire for escapism, entertainment, and social interaction. As a result, the demand for Metaverse platforms and applications is growing rapidly in Chile.

Trends in the market are also contributing to the development of the Metaverse market in Chile. The rise of virtual reality (VR) and augmented reality (AR) technologies has opened up new possibilities for creating immersive virtual experiences. Chilean companies and developers are leveraging these technologies to create innovative Metaverse solutions that cater to the evolving needs and preferences of consumers.

Additionally, the increasing adoption of blockchain technology is enabling the creation of decentralized Metaverse platforms, which offer users greater control over their virtual assets and identities. Local special circumstances in Chile are further fueling the growth of the Metaverse market. Chile has a vibrant tech startup ecosystem and a growing community of developers and creators who are actively exploring the potential of the Metaverse.

This entrepreneurial spirit, coupled with government support for innovation and technology, has created a conducive environment for the development of Metaverse-related projects. Furthermore, the relatively high internet penetration rate in Chile ensures that a large portion of the population has access to the necessary infrastructure to engage with the Metaverse. Underlying macroeconomic factors are also contributing to the development of the Metaverse market in Chile.

The country has a stable economy and a growing middle class, which has led to increased disposable income and consumer spending. This enables more Chileans to invest in the necessary hardware and software to access and explore the Metaverse. Additionally, the government's focus on digital transformation and technology-driven industries has created an environment that encourages the growth of the Metaverse market.

In conclusion, the Metaverse market in Chile is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for immersive virtual experiences, the adoption of VR and AR technologies, the vibrant tech startup ecosystem, and the government's support for innovation are all contributing to the rapid expansion of the Metaverse market in Chile.

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.