Metaverse

The projected value in the Metaverse market for the EU-38.97% is estimated to reach US$10.8bn by 2024.
This is expected to show an annual growth rate (CAGR 2024-2030) of 38.97%, resulting in a projected market volume of US$78.0bn by 2030.
In 2024, the projected market volume is estimated to be US$23.0bn, with the majority of value being generated United States.
In terms of user numbers, the Metaverse market is expected to have approximately 229.5m users users by 2030.
The user penetration rate is projected to be 18.4% in 2024 and is expected to reach 54.2% by 2030.
The average value per user (ARPU) is anticipated to be US$138.1.
In the EU-27, Germany leads the way in the Metaverse market, with a strong focus on virtual reality gaming and immersive 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 EU-27 is experiencing significant growth and development, driven by customer preferences for immersive digital experiences and the increasing adoption of virtual reality (VR) and augmented reality (AR) technologies.

Customer preferences: Customers in EU-27 are increasingly seeking out immersive digital experiences that provide a sense of presence and connection. The Metaverse offers a unique opportunity for individuals to interact with others in a virtual environment, explore virtual worlds, and engage in various activities such as gaming, socializing, and shopping. This shift in customer preferences towards virtual experiences is fueled by the desire for escapism, entertainment, and the ability to connect with others in a time when physical interactions are limited.

Trends in the market: One of the key trends in the Metaverse market in EU-27 is the integration of VR and AR technologies. VR allows users to completely immerse themselves in a virtual environment, while AR overlays digital content onto the real world. The combination of these technologies enhances the user experience and opens up new possibilities for interaction and engagement. Companies in EU-27 are increasingly leveraging these technologies to create immersive Metaverse experiences, ranging from virtual events and conferences to virtual shopping experiences. Another trend in the market is the convergence of the physical and digital worlds. The Metaverse is not limited to virtual experiences but also extends to the integration of digital elements into the physical world. This trend is particularly evident in the retail sector, where companies are exploring the use of AR to enhance the shopping experience. For example, customers can use their smartphones to try on virtual clothes or visualize how furniture would look in their homes before making a purchase.

Local special circumstances: EU-27 has a diverse and tech-savvy population, which contributes to the growth of the Metaverse market. The region has a strong gaming culture, with a large number of gamers and game developers. This has created a fertile ground for the development of virtual worlds and gaming-related Metaverse experiences. Additionally, EU-27 has a robust tech industry and a supportive regulatory environment, which encourages innovation and investment in emerging technologies like VR and AR.

Underlying macroeconomic factors: The growth of the Metaverse market in EU-27 is also supported by underlying macroeconomic factors. The region has a strong digital infrastructure, including high-speed internet connectivity and widespread smartphone adoption. This enables seamless access to virtual experiences and facilitates the adoption of VR and AR technologies. Furthermore, EU-27 has a large consumer market and a high disposable income, which creates a favorable environment for the development and monetization of Metaverse experiences. In conclusion, the Metaverse market in EU-27 is experiencing significant growth and development, driven by customer preferences for immersive digital experiences and the increasing adoption of VR and AR technologies. The integration of these technologies, the convergence of the physical and digital worlds, and the region's tech-savvy population and supportive regulatory environment are key factors contributing to the growth of the market. With a strong digital infrastructure and a large consumer market, EU-27 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.