Metaverse

The projected value of the Metaverse market in 2024 is expected to reach US$15.9bn .
This market is projected to show a compound annual growth rate (CAGR 2024-2030) of 32.88%, resulting in a projected market volume of US$87.6bn by 2030.
It is worth noting that the majority of this value is generated United States, with a projected market volume of US$23.0bn in 2024.
In terms of user base, it is expected that the number of users in the Metaverse market will reach 786.6m users by 2030.
User penetration, which currently stands at 22.0% in 2024, is projected to increase to 55.3% by 2030.
This indicates a significant growth potential for the market.
Furthermore, the average value per user (ARPU) is expected to amount to US$50.4 .
This metric provides insights into the revenue generated per individual user within the Metaverse market.
It is important to note that these projections and figures are specific to the Metaverse market and do not encompass the broader scope of the global economy.
Additionally, these numbers are subject to change based on various factors such as technological advancements, regulatory developments, and market dynamics.
China's Metaverse market is booming, with virtual reality gaming and social platforms gaining immense popularity among its tech-savvy population.

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 China is experiencing significant growth and development, driven by various factors such as customer preferences, local special circumstances, and underlying macroeconomic factors. Customer preferences in China play a crucial role in shaping the Metaverse market.

Chinese consumers have shown a strong interest in immersive and interactive experiences, making the Metaverse an appealing concept. With a large population of tech-savvy individuals, there is a growing demand for virtual worlds that offer social interactions, entertainment, and opportunities for self-expression. Chinese consumers also value convenience and seamless integration of virtual experiences into their daily lives, which further fuels the adoption of Metaverse platforms and technologies.

In terms of trends, the Metaverse market in China is witnessing the emergence of innovative platforms and applications. Companies are investing in virtual reality (VR), augmented reality (AR), and mixed reality (MR) technologies to create immersive and realistic virtual environments. These platforms offer a wide range of experiences, including gaming, social networking, e-commerce, education, and entertainment.

Virtual concerts, virtual shopping malls, and virtual events are becoming increasingly popular, attracting both users and businesses. Additionally, the integration of blockchain technology in the Metaverse ecosystem is gaining traction, enabling secure transactions, ownership of virtual assets, and decentralized governance. Local special circumstances also contribute to the development of the Metaverse market in China.

The country has a robust digital infrastructure, including high-speed internet connectivity and advanced mobile networks, which provides a solid foundation for the growth of the Metaverse. Moreover, China has a vibrant tech industry and a supportive regulatory environment that encourages innovation and investment in emerging technologies. This has attracted both domestic and international companies to enter the Metaverse market and collaborate with local partners to develop cutting-edge solutions.

Underlying macroeconomic factors further drive the growth of the Metaverse market in China. The country's strong economic growth and rising disposable incomes have created a favorable environment for consumer spending on digital experiences. The government's focus on digital transformation and the development of emerging industries also provides incentives and support for Metaverse-related projects.

Additionally, China's large and diverse market offers ample opportunities for companies to scale their Metaverse offerings and monetize their platforms. In conclusion, the Metaverse market in China is experiencing rapid growth and development due to customer preferences, local special circumstances, and underlying macroeconomic factors. As Chinese consumers embrace immersive and interactive experiences, the market is witnessing the emergence of innovative platforms and applications.

With a strong digital infrastructure, a supportive regulatory environment, and a growing economy, China is poised to become a key player in the global Metaverse market.

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.