Metaverse Gaming - Canada | Statista Market Forecast

The Metaverse Gaming market in Canada is anticipated to reach a value of US$445.4m in 2024.
This market segment is expected to exhibit an annual growth rate (CAGR 2024-2030) of 43.17%, leading to a projected market volume of US$3.8bn by 2030.
The United States is the primary contributor to 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 11.3m users by 2030.
User penetration is projected to be 8.9% in 2024 and is expected to rise to 27.5% by 2030.
The average Value per user (ARPU) is anticipated to be US$128.3.
"Canada's growing tech-savvy population and supportive government policies have propelled the Metaverse gaming market to new heights."

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 Canada has seen significant growth and development in recent years, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Canada have played a crucial role in the growth of the Metaverse Gaming market.

Canadians have shown a strong affinity for gaming, with a large percentage of the population actively participating in gaming activities. This has created a favorable environment for the development of the Metaverse Gaming market, as customers are eager to explore new immersive gaming experiences. Trends in the market have also contributed to the growth of the Metaverse Gaming market in Canada.

The increasing popularity of virtual reality (VR) and augmented reality (AR) technologies has opened up new possibilities for gaming experiences. Canadian gamers are embracing these technologies, seeking out immersive and interactive gaming experiences that go beyond traditional gaming platforms. This has led to the rise of the Metaverse Gaming market, where players can enter virtual worlds and interact with other players in real-time.

Local special circumstances have further fueled the development of the Metaverse Gaming market in Canada. The country's strong tech industry and innovation ecosystem have provided a fertile ground for the growth of companies specializing in Metaverse Gaming. Canadian gaming companies have been at the forefront of developing cutting-edge technologies and platforms that enable immersive gaming experiences.

This has attracted both domestic and international players to the market, contributing to its growth and competitiveness. Underlying macroeconomic factors have also played a role in the development of the Metaverse Gaming market in Canada. The country's stable economy and high disposable income levels have allowed Canadians to invest in gaming and entertainment experiences.

This has created a favorable market environment for Metaverse Gaming companies, as they can target a financially capable customer base. In conclusion, the Metaverse Gaming market in Canada has experienced significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Canadians' love for gaming, the rise of immersive technologies, the country's strong tech industry, and favorable macroeconomic conditions have all contributed to the growth of this market.

As the Metaverse Gaming market continues to evolve, it is expected to offer even more immersive and interactive experiences for Canadian gamers.

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.