Metaverse

The value of the Metaverse market in 2024 is projected to reach US$1.2bn Eastern_European currency units.
It is expected to experience an annual growth rate (CAGR 2024-2030) of 42.12%, resulting in a projected market volume of US$10.1bn Eastern_European currency units by 2030.
Eastern Europe is an important player in this market, with a projected market volume of US$23.0bn Eastern_European currency units in 2024.
In terms of user base, the number of users in the Metaverse market is expected to reach 84.8m users by 2030.
The user penetration rate, which represents the percentage of the population using the Metaverse market, is projected to be 13.3% in 2024 and is expected to increase to 42.6% by 2030.
Furthermore, the average value per user, also known as Average Revenue Per User (ARPU), is expected to amount to US$45.6 Eastern_European currency units.
In Eastern Europe, the Metaverse market is gaining traction as countries like Estonia embrace digital innovation and blockchain technology.

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 Eastern Europe is experiencing significant growth and development, driven by customer preferences for immersive digital experiences and the increasing adoption of virtual reality technology.

Customer preferences: Customers in Eastern Europe are increasingly seeking out immersive digital experiences that allow them to escape from the physical world and engage with virtual environments. The Metaverse offers a unique opportunity for individuals to explore virtual worlds, interact with others, and participate in various activities such as gaming, socializing, and even conducting business. The desire for these immersive experiences is fueled by the need for entertainment, social interaction, and the desire to explore new possibilities in a virtual realm.

Trends in the market: The Metaverse market in Eastern Europe is witnessing several key trends. Firstly, there is a growing demand for virtual reality (VR) technology, which serves as the gateway to the Metaverse. VR headsets and devices are becoming more affordable and accessible, allowing a wider range of consumers to experience virtual reality. This increased accessibility is driving the adoption of VR technology and subsequently fueling the growth of the Metaverse market. Secondly, there is a rise in the development of virtual reality content and applications specifically tailored for the Eastern European market. Companies are recognizing the potential of this region and are creating localized content that caters to the unique preferences and cultural nuances of Eastern European consumers. This localized content includes virtual experiences that showcase local landmarks, historical events, and cultural traditions, providing a sense of familiarity and connection for users.

Local special circumstances: Eastern Europe has a rich cultural heritage and a strong interest in technology, making it an ideal market for the Metaverse. The region has a growing tech-savvy population that is eager to explore new digital experiences and embrace the possibilities offered by the Metaverse. Additionally, Eastern Europe has a vibrant gaming and entertainment industry, which serves as a strong foundation for the development of virtual reality content and applications.

Underlying macroeconomic factors: The development of the Metaverse market in Eastern Europe 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. This economic growth has created a favorable environment for the adoption of new technologies, including virtual reality and the Metaverse. Furthermore, Eastern Europe has a highly skilled workforce in the fields of technology and digital content creation. This talent pool provides the necessary expertise and innovation required to develop and expand the Metaverse market in the region. The presence of skilled professionals also attracts investment and encourages the growth of local startups and businesses in the Metaverse industry. In conclusion, the Metaverse market in Eastern Europe is experiencing significant growth and development due to customer preferences for immersive digital experiences, the increasing adoption of virtual reality technology, and the presence of a skilled workforce. The region's growing tech-savvy population, vibrant gaming industry, and favorable macroeconomic factors contribute to the expansion of the Metaverse market in Eastern Europe.

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.