Metaverse eCommerce - Ukraine | Statista Market Forecast

The projected value in the Metaverse eCommerce market for Ukraine is estimated to reach US$22.0m by 2024.
This market segment is expected to display a compound annual growth rate (CAGR) of 50.16% between 2024 and 2030, resulting in a projected market volume of US$252.6m by 2030.
In 2024, in Ukraine is anticipated to generate a market volume of US$10.2bn, making it one of the significant contributors in the Metaverse eCommerce market.
Moreover, the number of users in the Metaverse eCommerce market in Ukraine is projected to reach 3.9m users by 2030.
The user penetration rate is expected to increase from 2.7% in 2024 to 10.3% by 2030.
Furthermore, the average value per user (ARPU) is estimated to be US$21.5 in Ukraine's Metaverse eCommerce market.
Ukraine's Metaverse eCommerce market is experiencing rapid growth, driven by a tech-savvy population and a thriving digital creative industry.

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 Ukraine is witnessing significant growth and development due to various factors.

Customer preferences: Ukrainian customers have shown a strong inclination towards online shopping, with a growing number of people opting for the convenience and accessibility offered by eCommerce platforms. The COVID-19 pandemic has further accelerated this trend, as more consumers have turned to online shopping to meet their needs. The younger generation, in particular, is highly tech-savvy and comfortable with digital platforms, making them a key target market for Metaverse eCommerce companies.

Trends in the market: One of the key trends in the Metaverse eCommerce market in Ukraine is the increasing adoption of virtual reality (VR) and augmented reality (AR) technologies. These immersive technologies allow customers to have a more interactive and engaging shopping experience, enabling them to virtually try on products or visualize how they would look in their homes. This trend is particularly relevant in the fashion, beauty, and home decor sectors, where customers value the ability to see and experience products before making a purchase. Another trend in the market is the integration of social media and Metaverse eCommerce platforms. Ukrainian consumers are highly active on social media platforms, and businesses are leveraging this by integrating eCommerce features directly into social media channels. This allows customers to discover products and make purchases without leaving their favorite social media platforms, creating a seamless shopping experience.

Local special circumstances: Ukraine has a rapidly growing tech industry, with a number of startups and tech companies emerging in recent years. This has created a favorable environment for the development of the Metaverse eCommerce market, as there is a pool of talented developers and entrepreneurs driving innovation in this space. Additionally, the relatively low cost of living and labor in Ukraine compared to Western countries makes it an attractive destination for tech companies looking to establish a presence in the region.

Underlying macroeconomic factors: Ukraine has experienced significant economic growth in recent years, with a rising middle class and increasing disposable income. This has led to an expansion of the consumer market and a higher demand for goods and services, including those offered by Metaverse eCommerce platforms. Furthermore, the government has implemented various initiatives to promote digitalization and innovation in the country, creating a supportive environment for the growth of the Metaverse eCommerce market. In conclusion, the Metaverse eCommerce market in Ukraine is thriving due to customer preferences for online shopping, the adoption of immersive technologies, integration with social media, local tech industry development, and favorable macroeconomic factors. As the market continues to evolve, we can expect further innovation and growth in the Metaverse eCommerce space in Ukraine.

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.