Metaverse Gaming - Lithuania | Statista Market Forecast

The projected value in the Metaverse Gaming market for Lithuania is expected to reach US$12.9m by 2024.
This value is anticipated to display an annual growth rate (CAGR 2024-2030) of 43.81%, resulting in a projected market volume of US$114.3m by 2030.
The United States is currently the leading generator of value in the Metaverse Gaming market, with a projected market volume of US$7.5bn in 2024.
In Lithuania's Metaverse Gaming market, the number of users is expected to amount to 575.6k users by 2030.
The user penetration rate is projected to be 6.5% in 2024 and is expected to rise to 22.5% by 2030.
The average value per user (ARPU) is estimated to be US$74.1.
Lithuania is experiencing a surge in Metaverse Gaming, with an increasing number of players and a growing 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 Lithuania is experiencing significant growth and development, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Lithuanian gamers have shown a strong preference for immersive and interactive gaming experiences, which has fueled the growth of the Metaverse Gaming market. The desire to escape reality and explore virtual worlds has attracted a large number of gamers to the metaverse, where they can engage in virtual social interactions, explore new environments, and participate in exciting gameplay. Additionally, the convenience and accessibility of metaverse gaming have appealed to a wide range of customers, including both casual and hardcore gamers.

Trends in the market: One of the key trends in the Metaverse Gaming market in Lithuania is the increasing integration of virtual reality (VR) and augmented reality (AR) technologies. This trend has enhanced the immersive nature of metaverse gaming, allowing players to fully immerse themselves in virtual environments and interact with virtual objects and characters in a more realistic and engaging way. The growing popularity of VR headsets and AR devices has further accelerated this trend, making metaverse gaming more accessible to a larger audience. Another trend in the market is the emergence of blockchain technology in metaverse gaming. Blockchain technology enables secure and transparent transactions within virtual worlds, allowing players to buy, sell, and trade virtual assets with ease. This trend has created new opportunities for gamers to monetize their gaming experiences and has also led to the development of decentralized virtual economies within the metaverse.

Local special circumstances: Lithuania's strong digital infrastructure and tech-savvy population have created a favorable environment for the growth of the Metaverse Gaming market. The country has a high internet penetration rate and a well-developed gaming industry, with a number of local game development studios and esports organizations. This has fostered a vibrant gaming community and provided a solid foundation for the adoption of metaverse gaming.

Underlying macroeconomic factors: Lithuania's robust economic growth and increasing disposable income have contributed to the expansion of the Metaverse Gaming market. As the economy continues to thrive, more consumers have the financial means to invest in gaming hardware, software, and virtual assets. This has created a larger customer base for metaverse gaming and has supported the growth of the market. In conclusion, the Metaverse Gaming market in Lithuania is experiencing significant growth and development due to customer preferences for immersive gaming experiences, the integration of VR and AR technologies, the adoption of blockchain technology, the country's strong digital infrastructure, and favorable macroeconomic factors. This market is expected to continue to expand as more gamers embrace the metaverse and explore the limitless possibilities it offers.

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.