Metaverse

The projected value of the Metaverse market in 2024 is estimated to reach US$270.1m in Denmark.
This value is expected to exhibit an annual growth rate (CAGR 2024-2030) of 39.49%, resulting in a projected market volume of US$2.0bn by 2030.
In Denmark, the projected market volume in 2024 is anticipated to be US$23.0bn.
The United States is the primary contributor to this market with the highest generated value.
In terms of user base, the number of users in the Metaverse market is projected to reach 4.4m users by 2030 in Denmark.
The user penetration rate is expected to be 25.4% in 2024 and is projected to increase to 72.4% by 2030.
The average value per user (ARPU) is estimated to amount to US$179.0.
Denmark'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 Denmark is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Denmark are shifting towards immersive digital experiences, with a growing demand for virtual reality (VR) and augmented reality (AR) technologies.

Danish consumers are increasingly seeking interactive and engaging platforms that allow them to explore virtual worlds, connect with others, and experience new forms of entertainment. This preference for immersive experiences is fueling the demand for Metaverse applications and services in the country. Trends in the Metaverse market in Denmark are aligned with global patterns, but with some unique characteristics.

One notable trend is the integration of Metaverse technologies into various industries, including gaming, e-commerce, and education. Danish companies are leveraging the potential of the Metaverse to create virtual shopping experiences, immersive learning environments, and interactive entertainment platforms. This trend is driven by the desire to enhance customer engagement, improve educational outcomes, and provide unique experiences that cannot be replicated in the physical world.

Another trend in the Danish Metaverse market is the increasing adoption of blockchain technology. Blockchain provides a decentralized and secure infrastructure for Metaverse applications, ensuring transparency and trust among users. Danish companies are exploring the potential of blockchain in creating virtual economies, where users can buy, sell, and trade virtual assets.

This trend is driven by the desire to create sustainable and scalable Metaverse ecosystems that can support a wide range of applications and services. Local special circumstances in Denmark are also contributing to the development of the Metaverse market. Denmark has a strong digital infrastructure and a high level of internet penetration, providing a solid foundation for the adoption of Metaverse technologies.

Additionally, the Danish government has been supportive of innovation and digital transformation, providing incentives and support for companies in the Metaverse space. These favorable conditions have attracted both local and international players to invest in the Danish Metaverse market, driving its growth and development. Underlying macroeconomic factors, such as a strong economy and high disposable income, also play a role in the development of the Metaverse market in Denmark.

The country has a robust tech industry and a highly skilled workforce, which enables the development of cutting-edge Metaverse technologies. Furthermore, Danish consumers have a high level of digital literacy and are early adopters of new technologies, making them receptive to Metaverse applications and services. In conclusion, the Metaverse market in Denmark is experiencing rapid growth and development, driven by changing customer preferences, emerging trends, and local special circumstances.

The integration of immersive technologies, the adoption of blockchain, and favorable conditions for innovation are key factors contributing to the development of the Danish Metaverse market. With a strong digital infrastructure, supportive government policies, and a tech-savvy population, Denmark is well-positioned to capitalize on the opportunities presented by the Metaverse.

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.