Metaverse - EAEU

EAEU

The Metaverse market is projected to reach a value of US$948.0m in 2024.
This value is expected to show an annual growth rate (CAGR 2024-2030) of 42.28%, resulting in a projected market volume of US$7,864.0m by 2030.
It is worth noting that United States generates the most value in this market, with a projected market volume of US$23.0bn in 2024.
In terms of user numbers, the Metaverse market is expected to have 59.8m users users by 2030.
The user penetration rate is projected to be 13.1% in 2024 and is expected to increase to 42.3% by 2030.
Additionally, the average value per user (ARPU) is expected to be US$50.3.
These projections indicate significant growth and potential in the Metaverse market, with United States playing a prominent role in driving its value.
The EAEU countries are also likely to be impacted by this growing market, presenting opportunities for businesses and users in the region.
The EAEU is experiencing a surge in virtual reality adoption, with the Metaverse becoming a popular platform for socializing, gaming, and business interactions.

Market

Region

Region comparison

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Analyst Opinion

The Metaverse market in the Eurasian Economic Union (EAEU) has been experiencing significant growth and development in recent years.

Customer preferences: In the EAEU, customers have shown a strong interest in immersive and interactive digital experiences. They are increasingly seeking virtual environments that allow them to socialize, explore, and engage with others in a virtual world. This preference for the Metaverse is driven by the desire for escapism, entertainment, and the ability to connect with people from different parts of the world. Additionally, customers in the EAEU are attracted to the potential economic opportunities that the Metaverse offers, such as virtual commerce and entrepreneurship.

Trends in the market: One of the key trends in the Metaverse market in the EAEU is the rapid adoption of virtual reality (VR) technology. VR headsets and devices have become more accessible and affordable, leading to a growing number of users in the region. This trend is driving the demand for Metaverse platforms that support VR experiences and enable users to fully immerse themselves in virtual worlds. Another trend in the EAEU Metaverse market is the emergence of local Metaverse platforms and applications. While global platforms like Facebook's Meta and Decentraland are popular in the region, there is also a growing demand for locally developed Metaverse solutions that cater to the specific needs and preferences of EAEU customers. These local platforms often incorporate elements of the region's culture, language, and traditions, making them more appealing to the local population.

Local special circumstances: The EAEU is a diverse region with multiple countries and cultures, each with its own unique characteristics and preferences. This diversity creates opportunities for the development of localized Metaverse experiences that cater to specific customer segments. For example, in Russia, there is a strong interest in virtual reality gaming and entertainment, while in Kazakhstan, there is a growing demand for virtual commerce and business networking in the Metaverse.

Underlying macroeconomic factors: The development of the Metaverse market in the EAEU is also influenced by underlying macroeconomic factors. The region has been experiencing steady economic growth, which has led to an increase in disposable income and consumer spending. As a result, more customers in the EAEU have the financial means to invest in Metaverse technologies and experiences. Furthermore, the EAEU governments have been supportive of the digital economy and innovation, providing favorable regulatory environments and incentives for the development of the Metaverse market. This supportive stance from the authorities has encouraged local entrepreneurs and developers to invest in Metaverse technologies and platforms, driving the growth of the market in the region. In conclusion, the Metaverse market in the EAEU is experiencing significant growth and development due to customer preferences for immersive digital experiences, the rapid adoption of VR technology, the emergence of local platforms, and the supportive macroeconomic factors. This market presents a range of opportunities for businesses and entrepreneurs in the region to capitalize on the growing demand for Metaverse experiences.

Methodology

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.