Metaverse eCommerce - Belgium | Statista Market Forecast

The projected value in the Metaverse eCommerce market in 2024 is estimated to be US$84.2m .
It is expected to experience a compound annual growth rate (CAGR 2024-2030) of 41.43%.
This growth rate will lead to a projected market volume of US$673.8m by 2030.
In 2024, the market volume is predicted to reach US$10.2bn , making China the largest contributor in terms of value generated.
In the Metaverse eCommerce market, the number of users is projected to reach 2.0m users by 2030.
The user penetration rate is anticipated to be 5.6% in 2024 and is expected to rise to 17.0% by 2030.
The average value per user (ARPU) is predicted to be US$128.6 .
In Belgium, the Metaverse eCommerce market is experiencing rapid growth, with virtual reality and augmented reality technologies being integrated into online shopping experiences to enhance customer engagement and drive sales.

Definition:

The eCommerce market refers to the buying and selling of goods and services within virtual reality environments, such as virtual worlds, social VR platforms, and other immersive digital spaces. These can include virtual storefronts, digital marketplaces, and other online shopping experiences that allow users to purchase real-world products or virtual items using virtual currencies and/or real-world money. Metaverse eCommerce can also include virtual shopping experiences, where users can explore and interact with virtual stores, try on virtual clothing and accessories, and make purchases through virtual cash or real-world money.

Structure:

The eCommerce market also covers the markets Beauty, Health, Personal & Household Care, Toys, Hobbys, DIY & Media, Furniture, Electronics, Fashion, and Food & Beverages. All of them refer to the specific goods that can be bought in the metaverse.

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 on items, products, and hardware such as headsets and glasses. Market numbers for eCommerce are also featured in the Digital Market Insights. Key players in the market include companies, such as IKEA, Virtual Realms, and Holition. For more information on the data displayed, use the info button right next to the boxes.

Marketplaces in the metaverse, such as Decentraland's Marketplace
Items bought for avatars used in the metaverse, such as Costumes or Skins
Fashion for avatars, such as Gucci stores
Electronics, such as AR and VR hardware

Physical items used for the metaverse, such as Oculus Quest
Purchase of games that are considered metaverse, such as Roblox or Sandbox

The Metaverse eCommerce market in Belgium is experiencing significant growth and development. Customer preferences in the Metaverse eCommerce market in Belgium are driven by a desire for convenience, personalization, and immersive shopping experiences.

Consumers in Belgium are increasingly turning to the Metaverse to shop for a wide range of products and services. They appreciate the convenience of being able to browse and purchase items from the comfort of their own homes, as well as the ability to personalize their virtual shopping experiences to suit their individual tastes and preferences. Trends in the market include the adoption of virtual reality (VR) and augmented reality (AR) technologies to enhance the shopping experience.

Virtual reality allows consumers to explore virtual stores and interact with products in a lifelike manner, while augmented reality enables them to visualize how products would look in their real-world surroundings. These technologies are becoming increasingly sophisticated and accessible, driving the growth of the Metaverse eCommerce market in Belgium. Another trend in the market is the integration of social features into Metaverse eCommerce platforms.

Consumers in Belgium are increasingly seeking social interactions and connections, even in virtual shopping environments. Metaverse eCommerce platforms are incorporating social networking features that allow users to interact with each other, share recommendations and reviews, and even engage in virtual shopping experiences together. This trend is further driving the growth of the Metaverse eCommerce market in Belgium.

Local special circumstances in Belgium, such as a high level of internet penetration and a tech-savvy population, contribute to the development of the Metaverse eCommerce market. Belgium has one of the highest internet penetration rates in Europe, with a large percentage of the population having access to high-speed internet. Additionally, Belgians are known for their affinity for technology and are quick to adopt new digital innovations.

These factors create a fertile ground for the growth of the Metaverse eCommerce market in Belgium. Underlying macroeconomic factors, such as the increasing popularity of online shopping and the growth of the digital economy, also contribute to the development of the Metaverse eCommerce market in Belgium. The COVID-19 pandemic has accelerated the shift towards online shopping, as consumers seek safer and more convenient ways to purchase goods and services.

The digital economy is also experiencing rapid growth, with more businesses and consumers embracing digital technologies for their everyday needs. These factors create a favorable environment for the Metaverse eCommerce market to thrive in Belgium. Overall, the Metaverse eCommerce market in Belgium is experiencing significant growth and development, driven by customer preferences for convenience, personalization, and immersive shopping experiences.

The adoption of VR and AR technologies, the integration of social features, local special circumstances, and underlying macroeconomic factors all contribute to the growth of this market. As the Metaverse continues to evolve, it is expected that the Metaverse eCommerce market in Belgium will continue to expand and innovate to meet the changing needs and preferences of consumers.

Data coverage:

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

Before Mark Zuckerberg announced Facebook’s name change to Meta to the surprise and sniggers of social media users, the metaverse was a niche and futuristic concept familiar to the tech and science-fiction aficionados. Yet now, it has become the catchphrase that sets the scene for the next stage of the internet. Facebook’s rebranding of Meta as one of the building blocks of the metaverse was powerful enough to trigger immediate response from the world’s biggest retail and consumer brands. In the week following Zuckerberg’s Meta presentation, Nike made patent applications for a number of its logos and slogans, and in December 2021 acquired the virtual sneakers company RTFKT. Nike is one of the growing number of retail brands that are silently preparing their launch into the metaverse where fashion is flaunted not as physical goods but as virtual assets. According to a study, Nike applied for 12 IoT patents in the three months running up to May 2022.