Metaverse eCommerce - NAFTA | Statista Market Forecast

The projected value of the Metaverse eCommerce market in 2024 is estimated to reach US$8.3bn.
It is expected to experience a compound annual growth rate (CAGR) of 40.98% from 2024 to 2030, resulting in a projected market volume of US$65.5bn by 2030.
Among the countries in the NAFTA region, China is the largest contributor to the market, with a projected market volume of US$10.2bn in 2024.
In terms of user base, the number of users in the Metaverse eCommerce market is projected to reach 107.8m users by 2030.
The user penetration rate is expected to be 6.8% in 2024 and is projected to increase to 20.4% by 2030.
The average value per user (ARPU) is estimated to be US$239.2.
In the NAFTA region, the Metaverse eCommerce market is experiencing rapid growth with the emergence of virtual shopping experiences and digital currency integration.

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 NAFTA is witnessing significant growth and development due to the increasing popularity of virtual reality (VR) and augmented reality (AR) technologies. These technologies have revolutionized the way people shop and interact with online platforms, creating new opportunities for businesses in the region.

Customer preferences: In the Metaverse eCommerce market, customers are increasingly seeking immersive and interactive shopping experiences. They want to explore virtual stores, try on virtual clothes, and visualize products in their own spaces using AR technology. This shift in customer preferences is driving the demand for Metaverse eCommerce platforms that offer a seamless integration of VR and AR technologies.

Trends in the market: One of the key trends in the Metaverse eCommerce market in NAFTA is the rise of virtual showrooms and virtual try-on experiences. Customers can now virtually browse through products, select items, and even try them on using their avatars. This trend is particularly popular in the fashion and beauty industries, where customers can experiment with different styles and looks without physically visiting a store. Another trend is the integration of social media and Metaverse eCommerce platforms. Customers can now share their virtual shopping experiences with friends and followers, creating a sense of community and social interaction. This trend has led to the emergence of virtual influencer marketing, where brands collaborate with virtual influencers to promote their products and engage with customers in the Metaverse.

Local special circumstances: In the NAFTA region, the Metaverse eCommerce market is driven by the strong presence of tech-savvy consumers and a robust digital infrastructure. The United States, Canada, and Mexico have a high internet penetration rate, making it easier for businesses to reach a large customer base. Additionally, the region has a thriving gaming industry, which has paved the way for the adoption of VR and AR technologies in the Metaverse eCommerce space.

Underlying macroeconomic factors: The growing Metaverse eCommerce market in NAFTA is also influenced by macroeconomic factors such as increasing disposable incomes and changing consumer behavior. As the economies in the region continue to recover from the impact of the pandemic, consumers are more willing to spend on innovative and immersive shopping experiences. Moreover, the younger demographic in the region has a higher affinity for technology and is more likely to embrace Metaverse eCommerce platforms. In conclusion, the Metaverse eCommerce market in NAFTA is experiencing rapid growth due to customer preferences for immersive shopping experiences, the emergence of virtual showrooms and virtual try-on experiences, the integration of social media, and the presence of tech-savvy consumers. These trends, combined with the region's strong digital infrastructure and favorable macroeconomic factors, are driving the development of the Metaverse eCommerce market in NAFTA.

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.