Metaverse eCommerce - Denmark | Statista Market Forecast

In 2024, the projected value in the Metaverse eCommerce market is set to reach US$78.9m.
It is anticipated that the market will experience a compound annual growth rate (CAGR 2024-2030) of 40.45%, resulting in a projected market volume of US$605.8m by 2030.
Notably, China takes the lead in generating the majority of the market value, with a projected market volume of US$10.2bn in 2024.
Looking ahead to 2030, the number of users in the Metaverse eCommerce market is expected to reach 1.5m users.
The user penetration rate is predicted to increase from 8.4% in 2024 to 24.2% by 2030.
Furthermore, the average value per user (ARPU) is estimated to be US$158.6.
It is worth noting that these projections pertain to the global Metaverse eCommerce market, and not specific to in Denmark.
However, it is interesting to see how this emerging market segment may impact Denmark's eCommerce landscape in the future.
Denmark's Metaverse eCommerce market is thriving, with virtual reality shopping experiences and digital fashion gaining popularity among Danish consumers.

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 Denmark is experiencing rapid growth and development, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Metaverse eCommerce market in Denmark are shifting towards immersive and interactive shopping experiences.

Consumers are increasingly seeking out virtual reality (VR) and augmented reality (AR) technologies to enhance their online shopping experiences. This trend is fueled by the desire for convenience, personalization, and the ability to explore products in a virtual environment before making a purchase. Additionally, Danish consumers are becoming more environmentally conscious, leading to a rise in demand for sustainable and ethically sourced products in the Metaverse eCommerce market.

Trends in the market indicate that Danish retailers are embracing the Metaverse eCommerce concept to stay competitive and meet the evolving needs of their customers. Many retailers are integrating VR and AR technologies into their online platforms, allowing shoppers to virtually try on clothing, visualize furniture in their homes, or even test drive virtual cars. This immersive shopping experience not only enhances customer engagement but also reduces the need for physical store visits, which is particularly appealing in a country with a high cost of living and limited physical retail space.

Local special circumstances in Denmark contribute to the development of the Metaverse eCommerce market. Denmark has one of the highest internet penetration rates in the world, with a tech-savvy population that is accustomed to online shopping. The country also has a strong focus on sustainability and innovation, making it a favorable environment for the adoption of Metaverse eCommerce technologies.

Additionally, Denmark has a well-developed logistics infrastructure, enabling efficient and timely delivery of products purchased in the Metaverse. Underlying macroeconomic factors also play a role in the growth of the Metaverse eCommerce market in Denmark. The country has a stable economy, high disposable income levels, and a strong social welfare system, which provide a solid foundation for consumer spending.

Furthermore, the COVID-19 pandemic has accelerated the shift towards online shopping, as people have turned to eCommerce platforms to meet their needs while adhering to social distancing measures. This has further propelled the development of the Metaverse eCommerce market in Denmark. In conclusion, the Metaverse eCommerce market in Denmark is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

Danish consumers are increasingly seeking immersive and interactive shopping experiences, leading retailers to adopt VR and AR technologies. The country's high internet penetration rate, focus on sustainability and innovation, well-developed logistics infrastructure, and stable economy all contribute to the growth of the Metaverse eCommerce market in Denmark.

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.