Metaverse Digital Media - Portugal

The Metaverse Digital Media market is anticipated to witness substantial growth, with its value projected to reach US$1.9m by 2024.
This growth is expected to continue at an annual growth rate of 14.95% from 2024 to 2030, resulting in a projected market volume of US$4.4m by 2030.
Notably, United States is the primary contributor to the market, generating a projected market volume of US$197.1m in 2024.
Within the Metaverse Digital Media market, the number of users is expected to reach 22.1k users by 2030.
In terms of user penetration, it is estimated to be 0.1% in 2024 and is projected to increase to 0.2% by 2030.
Moreover, the average Value per user (ARPU) is expected to amount to US$133.4.
It is important to note that these projections and figures pertain to the Metaverse Digital Media market, and specifically for the country of Portugal.
Portugal is emerging as a hotspot for Metaverse Digital Media, with its vibrant tech scene and innovative startups leading the way.

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 Portugal is experiencing significant growth and development.

Customer preferences: Portuguese consumers are increasingly seeking immersive and interactive digital experiences, which are driving the demand for Metaverse Digital Media. With the advancement of technology and the widespread use of smartphones and high-speed internet, consumers are looking for more engaging and personalized content. They want to be able to explore virtual worlds, interact with virtual objects, and connect with others in a virtual environment.

Trends in the market: One of the key trends in the Metaverse Digital Media market in Portugal is the rise of virtual reality (VR) and augmented reality (AR) technologies. VR allows users to fully immerse themselves in a virtual environment, while AR overlays digital content onto the real world. These technologies are being used in various industries, such as gaming, entertainment, education, and healthcare, to create unique and interactive experiences. Another trend is the increasing adoption of virtual events and virtual conferences. With the COVID-19 pandemic restricting physical gatherings, many organizations have turned to virtual platforms to host events and conferences. This has created a demand for Metaverse Digital Media solutions that can provide a realistic and engaging virtual experience for attendees.

Local special circumstances: Portugal has a growing tech-savvy population and a thriving startup ecosystem. This has created a favorable environment for the development of Metaverse Digital Media companies. The country is home to several innovative startups that are leveraging VR and AR technologies to create immersive digital experiences. Furthermore, Portugal has a strong tourism industry, which can benefit from the use of Metaverse Digital Media. Virtual tours and virtual reality experiences can attract tourists and provide them with a unique way to explore the country's cultural and historical sites.

Underlying macroeconomic factors: The growth of the Metaverse Digital Media market in Portugal is also influenced by underlying macroeconomic factors. The country has a stable economy and a favorable business environment, which attracts investment and supports the growth of technology companies. Additionally, the government has been supportive of the digital industry and has implemented policies to promote innovation and entrepreneurship. In conclusion, the Metaverse Digital Media market in Portugal is experiencing significant growth and development. Customer preferences for immersive and interactive digital experiences, the rise of VR and AR technologies, the increasing adoption of virtual events, and Portugal's tech-savvy population and strong tourism industry are driving the growth of the market. The favorable macroeconomic factors and government support further contribute to the development of the Metaverse Digital Media sector in Portugal.

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.