Metaverse eCommerce - EU-27 | Statista Market Forecast

The Metaverse eCommerce market is projected to reach a value of US$3.6bn in 2024.
This market is expected to show an annual growth rate of 39.89% (CAGR 2024-2030), resulting in a projected market volume of US$26.9bn by 2030.
Among all countries in the EU-27, China is expected to generate the most value with a projected market volume of US$10.2bn in 2024.
In terms of user numbers, the Metaverse eCommerce market is expected to have 85.5m users users by 2030.
The user penetration rate is projected to be 6.7% in 2024 and is expected to reach 20.2% by 2030.
The average value per user (ARPU) is expected to amount to US$126.5.
In Germany, the Metaverse eCommerce market is experiencing rapid growth, driven by the country's strong digital infrastructure and tech-savvy population.

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 EU-27 is experiencing significant growth and development, driven by changing customer preferences and the increasing adoption of digital technologies. Customer preferences in the Metaverse eCommerce market are shifting towards online shopping and virtual experiences.

Consumers are increasingly looking for convenience and personalized experiences, which the Metaverse can offer. They are also drawn to the immersive and interactive nature of the Metaverse, where they can explore virtual worlds, interact with other users, and engage in virtual commerce. This shift in customer preferences is driving the demand for Metaverse eCommerce platforms and services.

Trends in the Metaverse eCommerce market in EU-27 are indicative of a growing market. Companies are investing in the development of Metaverse platforms and technologies to meet the increasing demand. These platforms provide a virtual environment where users can engage in eCommerce activities, such as buying and selling virtual goods, attending virtual events, and participating in virtual communities.

The market is also witnessing the emergence of new business models, such as virtual real estate and virtual fashion, which cater to the unique needs and preferences of Metaverse users. Local special circumstances in EU-27 are influencing the development of the Metaverse eCommerce market. The region has a strong digital infrastructure and a high level of internet penetration, which provides a conducive environment for Metaverse eCommerce.

EU-27 also has a large and diverse consumer base, which presents significant opportunities for companies operating in the Metaverse eCommerce market. Additionally, EU-27 has a favorable regulatory environment that supports innovation and entrepreneurship, further encouraging the growth of the Metaverse eCommerce market. Underlying macroeconomic factors are also contributing to the development of the Metaverse eCommerce market in EU-27.

The region has a strong and stable economy, which provides a solid foundation for business growth. The increasing digitalization of the economy and the rise of remote work and online education are driving the demand for Metaverse platforms and services. Additionally, the COVID-19 pandemic has accelerated the adoption of digital technologies and online shopping, further fueling the growth of the Metaverse eCommerce market.

In conclusion, the Metaverse eCommerce market in EU-27 is experiencing rapid growth and development, driven by changing customer preferences, the emergence of new business models, local special circumstances, and underlying macroeconomic factors. Companies operating in this market have significant opportunities to capitalize on the growing demand for Metaverse platforms and services.

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.