Metaverse Gaming - Colombia | Statista Market Forecast

The value of the Metaverse Gaming market in 2024 is projected to reach US$83.8m.
It is expected to exhibit an annual growth rate (CAGR 2024-2030) of 43.69%, resulting in a projected market volume of US$737.3m by 2030.
The United States generates the most value in this market segment, with a projected market volume of US$7.5bn in 2024.
By 2030, the number of users in the Metaverse Gaming market is expected to reach 8.4m users.
The user penetration rate is predicted to be 4.9% in 2024 and is expected to increase to 15.6% by 2030.
The average value per user (ARPU) is projected to amount to US$32.7.
in Colombia, being a part of the global market, will also experience the effects of this growing Metaverse Gaming market industry.
Colombia's Metaverse Gaming market is rapidly expanding as local gamers embrace immersive virtual experiences and seek innovative ways to connect with a global gaming community.

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 Colombia is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Colombia are shifting towards immersive gaming experiences that allow players to interact with virtual worlds and other players in real-time.

This preference is fueled by the increasing availability of high-speed internet and affordable gaming devices, which enable gamers to fully engage with the metaverse. Additionally, Colombian gamers are drawn to the social aspects of the metaverse, where they can connect with friends and participate in virtual communities. Trends in the market indicate a growing interest in virtual reality (VR) and augmented reality (AR) gaming experiences in Colombia.

VR headsets and AR-enabled smartphones are becoming more accessible and affordable, allowing gamers to explore virtual worlds and interact with virtual objects in their own physical environment. This trend is further supported by the development of innovative gaming technologies and platforms that enhance the immersive experience of the metaverse. Local special circumstances in Colombia contribute to the development of the Metaverse Gaming market.

The country has a vibrant gaming community and a strong entrepreneurial spirit, which has led to the emergence of local game developers and startups focusing on metaverse gaming. These local players are creating unique and culturally relevant content that resonates with Colombian gamers, further driving the growth of the market. Underlying macroeconomic factors also play a role in the development of the Metaverse Gaming market in Colombia.

The country's growing middle class and increasing disposable income have resulted in a larger consumer base for gaming products and services. Additionally, the government's efforts to promote digital innovation and entrepreneurship have created a favorable environment for the development of the metaverse gaming industry. In conclusion, the Metaverse Gaming market in Colombia is experiencing significant growth and development due to shifting customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

The increasing availability and affordability of gaming devices, the growing interest in VR and AR gaming experiences, the vibrant gaming community, and the supportive government policies all contribute to the thriving metaverse gaming industry in Colombia.

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.