Metaverse eCommerce - MENA | Statista Market Forecast

Market size in the Metaverse eCommerce market is projected to reach US$564.1m in 2024.
Market size is expected to show an annual growth rate (CAGR 2024-2030) of 44.67%, resulting in a projected market volume of US$5.2bn by 2030.
With a projected market volume of US$10.2bn in 2024, the largest market size is generated China.
In the Metaverse eCommerce market, the number of users is expected to amount to 44.5m users by 2030.
User penetration will be 3.8% in 2024 and is expected to hit 12.1% by 2030.
The average Market size per user (ARPU) is expected to amount to US$43.5.

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 MENA is experiencing significant growth and development, driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Metaverse eCommerce market are evolving as consumers seek more immersive and interactive shopping experiences.

With the advancement of technology, customers are increasingly looking for virtual reality (VR) and augmented reality (AR) solutions that allow them to explore products in a virtual environment before making a purchase. This shift in preferences is driving the demand for Metaverse eCommerce platforms that can provide a seamless and engaging shopping experience. Trends in the Metaverse eCommerce market in MENA are also contributing to its growth.

One of the key trends is the rise of virtual marketplaces, where users can buy and sell virtual goods and services using digital currencies. These marketplaces offer a wide range of products and services, including virtual real estate, fashion items, and even virtual experiences. This trend is fueled by the growing popularity of online gaming and virtual communities in the region.

Another trend in the Metaverse eCommerce market is the integration of social media and eCommerce platforms. Social media platforms are increasingly incorporating eCommerce features, allowing users to discover and purchase products directly within the social media app. This integration provides a seamless shopping experience and enables businesses to reach a wider audience.

Local special circumstances in MENA are also influencing the development of the Metaverse eCommerce market. The region has a young and tech-savvy population, which is driving the adoption of new technologies and digital platforms. Additionally, the high smartphone penetration rate in MENA countries enables easy access to Metaverse eCommerce platforms, further fueling the market's growth.

Underlying macroeconomic factors are also contributing to the development of the Metaverse eCommerce market in MENA. The region has a growing middle class and increasing disposable income, which is driving consumer spending on both physical and virtual goods. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping, as consumers seek safer and more convenient ways to purchase products.

In conclusion, the Metaverse eCommerce market in MENA is experiencing rapid growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As consumers increasingly seek immersive and interactive shopping experiences, Metaverse eCommerce platforms are becoming more popular. The integration of social media and eCommerce, the rise of virtual marketplaces, and the young and tech-savvy population in MENA are all contributing to the market's growth.

Additionally, the region's growing middle class and increasing disposable income, along with the impact of the COVID-19 pandemic, are driving the adoption of Metaverse eCommerce platforms.

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.