Metaverse Digital Media - Egypt | Statista Market Forecast

The projected value of the Metaverse Digital Media market in 2024 is estimated to reach US$2.8m.
It is expected to experience an annual growth rate (CAGR 2024-2030) of 14.95%, resulting in a projected market volume of US$6.5m by 2030.
In Egypt, the market is expected to generate a value of US$197.1m in 2024.
By 2030, the number of users in the Metaverse Digital Media market is projected to reach 191.5k users.
The user penetration rate is expected to be 0.1% in 2024 and is forecasted to increase to 0.2% by 2030.
Furthermore, the average value per user (ARPU) is expected to be US$22.9.
Egypt is experiencing a surge in the adoption of digital media in the Metaverse, with virtual reality experiences and immersive content gaining popularity among its tech-savvy population.

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 Egypt is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Egypt are driving the growth of the Metaverse Digital Media market.

Egyptian consumers are increasingly seeking immersive and interactive digital experiences. They are looking for ways to engage with content in a more personalized and dynamic manner. This has led to a growing demand for metaverse platforms that offer virtual reality, augmented reality, and other immersive technologies.

Additionally, Egyptian consumers are also showing a preference for digital media content that is locally relevant and culturally diverse. Trends in the market further contribute to the development of the Metaverse Digital Media market in Egypt. The increasing availability and affordability of virtual reality and augmented reality devices have made these technologies more accessible to a wider audience.

This has led to a surge in the development of metaverse platforms and applications that cater to the needs and preferences of Egyptian consumers. Furthermore, the rise of social media and online gaming in Egypt has created new opportunities for metaverse platforms to engage with users and provide unique digital experiences. Local special circumstances also play a role in the growth of the Metaverse Digital Media market in Egypt.

The country has a young and tech-savvy population, with a high percentage of internet users and smartphone penetration. This provides a fertile ground for the adoption of metaverse technologies and digital media content. Additionally, Egypt has a vibrant creative industry, with a rich cultural heritage and a thriving arts and entertainment sector.

This creates a strong demand for metaverse platforms that can showcase and promote local talent and content. Underlying macroeconomic factors contribute to the development of the Metaverse Digital Media market in Egypt. The government has been actively promoting digital innovation and entrepreneurship, with initiatives and incentives to support the growth of the technology sector.

This has attracted investment and talent to the country, leading to the emergence of a vibrant tech ecosystem. Furthermore, Egypt's strategic location and strong connectivity make it an attractive market for international players in the metaverse industry, who see the country as a gateway to the wider Middle East and North Africa region. In conclusion, the Metaverse Digital Media market in Egypt is experiencing rapid 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, coupled with the availability of affordable technologies, is driving the adoption of metaverse platforms in Egypt. The country's young and tech-savvy population, vibrant creative industry, and supportive government policies further contribute to the growth of the market. With its strategic location and strong connectivity, Egypt is poised to become a key player in the Metaverse Digital Media market in the 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.