Metaverse eCommerce - Finland | Statista Market Forecast

The Metaverse eCommerce market in Finland is projected to reach a value of US$61.7m by 2024.
This market is expected to experience an annual growth rate of 39.43% from 2024 to 2030, resulting in a projected market volume of US$453.5m by 2030.
China dominates the Metaverse eCommerce market, generating the highest value with a projected market volume of US$10.2bn in 2024.
In terms of user base, the Metaverse eCommerce market in Finland is expected to have approximately 1.1m users users by 2030.
The user penetration rate, which is the percentage of the population using the Metaverse eCommerce market platform, is projected to be 6.8% in 2024 and is expected to increase to 19.7% by 2030.
The average value per user (ARPU) in the Finnish Metaverse eCommerce market is projected to be US$163.1.
Finland's Metaverse eCommerce market is witnessing a surge in virtual fashion sales, with consumers embracing digital clothing and accessories for their online avatars.

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 Finland is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Finland play a crucial role in shaping the growth of the Metaverse eCommerce market.

Finnish consumers are known for their high internet penetration rate and digital savviness. They are increasingly embracing online shopping and exploring new digital experiences. The Metaverse eCommerce market provides a unique opportunity for Finnish consumers to engage with virtual worlds and purchase virtual goods and services.

This aligns with their desire for convenience, personalized experiences, and the ability to connect with others in a virtual environment. Trends in the Metaverse eCommerce market in Finland are also contributing to its growth. The market is witnessing a surge in the adoption of virtual reality (VR) and augmented reality (AR) technologies, which enable users to immerse themselves in virtual environments and interact with virtual products.

This trend is driven by advancements in technology, increasing affordability of VR and AR devices, and the growing availability of virtual content and experiences. Finnish retailers and businesses are leveraging these technologies to create innovative and engaging virtual shopping experiences, attracting a new generation of tech-savvy customers. Local special circumstances further contribute to the development of the Metaverse eCommerce market in Finland.

The country has a strong gaming and technology industry, with several successful Finnish companies operating in the gaming, VR, and AR sectors. This expertise and knowledge base provide a competitive advantage for Finnish businesses in the Metaverse eCommerce market. Additionally, Finland has a highly educated population with a strong focus on innovation and entrepreneurship, creating a favorable environment for the growth of digital technologies and virtual experiences.

Underlying macroeconomic factors also play a role in the development of the Metaverse eCommerce market in Finland. The country has a stable economy with high disposable income levels and a strong social welfare system. This allows Finnish consumers to allocate a significant portion of their income to leisure activities, including virtual experiences and purchases in the Metaverse eCommerce market.

Furthermore, Finland has a well-developed digital infrastructure and reliable internet connectivity, providing a solid foundation for the growth of the Metaverse eCommerce market. In conclusion, the Metaverse eCommerce market in Finland is experiencing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Finnish consumers' desire for convenience, personalized experiences, and digital connectivity is driving the adoption of Metaverse eCommerce.

The increasing use of VR and AR technologies, the presence of a strong gaming and technology industry, and favorable macroeconomic conditions further contribute to the market's growth. As the Metaverse continues to evolve, the Finnish market is well-positioned to capitalize on the opportunities presented by this emerging sector.

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.