Metaverse Digital Media - Australia & Oceania

The projected value in the Metaverse Digital Media market in 2024 is estimated to reach US$12.7m.
It is expected to demonstrate an annual growth rate (CAGR 2024-2030) of 14.92%, resulting in a projected market volume of US$29.2m by 2030.
In 2024, United States is the primary generator of value in the market, with a projected market volume of US$197.1m.
By 2030, the number of users in the Metaverse Digital Media market is expected to reach 87.2k users.
The user penetration rate is projected to be 0.2% in 2024 and is anticipated to increase to 0.3% by 2030.
The average value per user (ARPU) is expected to be US$224.6.
Australia & Oceania is experiencing a surge in virtual reality gaming, with an increasing number of digital media companies focusing on creating immersive experiences for Australian consumers.

Definition:

The Digital Media market refers to the use of digital technology to create, distribute, and consume content within virtual reality environments. This can include video, audio, text, images, and interactive experiences that are accessible through a wide range of devices, including VR headsets, smartphones, and computers.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through in-app purchases and consumer spending. Data on the digital media market can also be found in the Digital Market Insights. For more information on the data displayed, use the info button right next to the boxes.

Virtual escape rooms, such as Escape the Lost Pyramid
Virtual sport events, such as The Metaverse Open
Virtual amusement parks, such as The Sandbox's LAND
Technology used to enhance virtual experience, adding sounds and graphics to games and worlds

Games considered as metaverse, such as Fornite
Digital music streaming or video streaming, such as Spotify or Netflix

The Metaverse Digital Media market in Australia & Oceania is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this growth.

Customer preferences in Australia & Oceania are driving the development of the Metaverse Digital Media market. Customers in this region are increasingly seeking immersive and interactive digital experiences. They are looking for ways to engage with content in a more personalized and engaging manner.

This has led to a demand for Metaverse Digital Media platforms that offer virtual reality, augmented reality, and mixed reality experiences. Customers are also interested in accessing a wide range of content through these platforms, including games, videos, social media, and e-commerce. Trends in the market are also playing a significant role in the development of the Metaverse Digital Media market in Australia & Oceania.

One major trend is the increasing adoption of virtual reality and augmented reality technologies. These technologies are becoming more accessible and affordable, allowing more customers to experience the Metaverse. Another trend is the integration of Metaverse Digital Media platforms with other technologies, such as artificial intelligence and blockchain.

This integration is enhancing the capabilities and functionalities of these platforms, making them more appealing to customers. Local special circumstances in Australia & Oceania are also contributing to the growth of the Metaverse Digital Media market. The region is home to a vibrant and innovative tech industry, with many startups and established companies focusing on developing Metaverse technologies.

This has created a favorable ecosystem for the growth of the market. Additionally, the region has a high level of internet penetration and smartphone adoption, which provides a solid foundation for the expansion of Metaverse Digital Media platforms. Underlying macroeconomic factors are also driving the development of the Metaverse Digital Media market in Australia & Oceania.

The region has a strong economy and a growing middle class, which has led to an increase in disposable income. This has allowed more customers to invest in Metaverse technologies and experiences. Additionally, the region has a young and tech-savvy population that is eager to embrace new digital innovations.

These factors create a conducive environment for the growth of the market. In conclusion, the Metaverse Digital Media market in Australia & Oceania is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for immersive and interactive digital experiences, the adoption of virtual reality and augmented reality technologies, the favorable ecosystem for tech innovation, and the strong economy and tech-savvy population are all contributing to the growth of the market in this region.

Data coverage:

Figures are based on in-app spending, consumer spending.

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.