Metaverse Gaming - Baltics | Statista Market Forecast

The Metaverse Gaming market is expected to reach a value of US$26.7m by 2024.
This market segment is projected to experience a steady annual growth rate (CAGR 2024-2030) of 43.81%, resulting in a projected market volume of US$236.3m by 2030.
It should be noted that United States dominates this market, with a projected market volume of US$7.5bn in 2024.
In terms of user base, the number of users in the Metaverse Gaming market is expected to reach 1.3m users by 2030.
The user penetration rate, which measures the percentage of the population that uses Metaverse Gaming market, is projected to increase from 6.9% in 2024 to 23.8% by 2030.
Furthermore, the average value per user (ARPU) is anticipated to be US$66.8 in this market segment.
This value represents the average amount of spending per user in the Metaverse Gaming market.
It is worth noting that these projections and figures are specific to the Baltics, the country under analysis in this report.
The Baltics are witnessing a surge in the popularity of Metaverse Gaming, with a growing number of gamers exploring virtual worlds and engaging in immersive gameplay experiences.

Definition:

The Gaming market refers to the playing of video games or other interactive experiences within virtual reality environments, such as virtual worlds, social VR platforms, and other immersive digital spaces. This definition includes traditional single-player and multiplayer games as well as more open-ended virtual worlds, where players can interact with each other and the environment in a variety of ways. Gaming in the metaverse can be experienced through different hardware, such as VR headsets, smartphones, and computers, and can also include new forms of gaming such as social gaming, multiplayer gaming, and location-based gaming.

Structure:

The Gaming market includes the markets Action Games, Adventure Games, Casual Games, Role-playing Games, Simulation Games, Sports & Racing Games and Strategy Games. Each genre has different games published that are classified as metaverse games in respective metaverse applications, or individual games.

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 apps, games, and items. Market numbers about the Gaming market can also be found in the Digital Market Insights. Key players in the market are games like Fortnite, Roblox or Minecraft. Use the info button right next to the boxes for more information on the data displayed.

Games directly in metaverse considered apps, such as games in Roblox
Open-world games, shaped by users, such as Fortnite
Sandbox games, such as Minecraft
Social virtual reality games, such as VRChat

Open-world games, with a story line, such as World of Warcraft
All other non related metaverse games, such as Call of Duty
Non-metaverse related browser games, such as Forge of Empires

The Metaverse Gaming market in Baltics is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Metaverse Gaming market in Baltics are shifting towards immersive gaming experiences that allow players to interact with a virtual world.

This preference is driven by the desire for escapism and the opportunity to explore new worlds and experiences. Players are seeking more realistic graphics, advanced gameplay mechanics, and social interaction within the virtual environment. Additionally, there is a growing demand for cross-platform compatibility, allowing players to seamlessly transition between different devices and operating systems.

Trends in the market are also contributing to the development of the Metaverse Gaming market in Baltics. The increasing availability of high-speed internet and the widespread adoption of smartphones and other connected devices have made it easier for players to access and participate in virtual gaming experiences. Furthermore, advancements in virtual reality (VR) and augmented reality (AR) technologies have opened up new possibilities for immersive gaming, attracting more players to the Metaverse Gaming market.

Local special circumstances in the Baltics, such as a tech-savvy population and a strong gaming culture, have created a favorable environment for the growth of the Metaverse Gaming market. The Baltics have a high internet penetration rate and a young population that is highly engaged with digital technologies. This tech-savvy population is more likely to embrace new gaming trends and technologies, contributing to the expansion of the Metaverse Gaming market in the region.

Additionally, the Baltics have a vibrant gaming community and a history of successful game development studios, which further supports the growth of the Metaverse Gaming market. Underlying macroeconomic factors, such as favorable economic conditions and government support for the technology sector, are also driving the development of the Metaverse Gaming market in the Baltics. The Baltics have experienced steady economic growth in recent years, creating a favorable environment for consumer spending on entertainment and leisure activities.

Additionally, governments in the region have recognized the potential of the technology sector and have implemented supportive policies and incentives to attract investment and foster innovation. This has encouraged the development of the Metaverse Gaming market and the growth of local game development studios. Overall, the Metaverse Gaming market in the Baltics is developing rapidly due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

As the demand for immersive gaming experiences continues to grow and technology advancements continue to enhance the possibilities of virtual gaming, the Metaverse Gaming market in the Baltics is expected to expand further in the coming years.

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.

For everybody who spends a lot of time in digital worlds – for example via gaming and socializing in-game – the concept of the metaverse, a virtual world where physical and digital worlds come together, is nothing new. In-game hangouts in massively multiplayer online games (MMO) and other multiplayer games have been a vital part of the gaming community for years, and the activity received a boost during the COVID-19 pandemic when people turned to online worlds to connect with each other. Overall, these online game hangouts are an important step along the journey to metaverse gaming.