Metaverse Gaming - NAFTA | Statista Market Forecast

The projected value in the Metaverse Gaming market is set to reach US$8.2bn by 2024.
This market segment is expected to demonstrate an annual growth rate (CAGR 2024-2030) of 40.89%, resulting in a projected market volume of US$63.9bn by 2030.
The United States dominates this market, generating the highest value with a projected market volume of US$7.5bn by 2024.
In terms of user numbers, the Metaverse Gaming market is expected to reach 112.8m users users by 2030.
The user penetration rate is projected to be 7.1% in 2024 and is anticipated to reach 21.4% by 2030.
The average value per user (ARPU) is estimated to be US$224.1.
It is worth noting that these projections and figures are specific to the Metaverse Gaming market and do not reflect the overall gaming industry.
Additionally, these statistics are applicable to the NAFTA region, which includes Canada, Mexico, and United States.
The Metaverse Gaming market in NAFTA is experiencing a surge in virtual reality adoption, with Canadian gamers leading the way in immersive gaming 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 NAFTA is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in the Metaverse Gaming market in NAFTA are increasingly seeking immersive and interactive gaming experiences. They are drawn to the idea of a virtual world where they can create their own avatars, explore new environments, and interact with other players in real-time. This preference for escapism and social interaction is fueling the demand for Metaverse Gaming platforms and driving the growth of the market.

Trends in the market: One of the key trends in the Metaverse Gaming market in NAFTA is the integration of blockchain technology. Blockchain provides a decentralized and secure platform for in-game transactions, enabling players to buy, sell, and trade virtual assets with ease. This trend is attracting both gamers and investors, as it offers new opportunities for monetization and asset ownership within the virtual world. Another trend is the convergence of gaming and entertainment. Metaverse Gaming platforms are increasingly incorporating elements of live events, concerts, and virtual experiences, blurring the lines between gaming and other forms of entertainment. This trend is appealing to a wider audience and expanding the reach of the Metaverse Gaming market beyond traditional gamers.

Local special circumstances: In the NAFTA region, there are several factors contributing to the growth of the Metaverse Gaming market. Firstly, the region has a large and tech-savvy population, with a high level of internet penetration and access to advanced gaming devices. This provides a strong foundation for the adoption of Metaverse Gaming platforms. Additionally, the presence of major gaming companies and tech giants in the NAFTA region is driving innovation and investment in the Metaverse Gaming market. These companies have the resources and expertise to develop cutting-edge Metaverse Gaming platforms, attracting both domestic and international players.

Underlying macroeconomic factors: The strong economic growth in the NAFTA region is creating a favorable environment for the Metaverse Gaming market. As disposable incomes rise, consumers have more spending power to invest in gaming and entertainment. This is driving the demand for Metaverse Gaming platforms and contributing to the overall growth of the market. Furthermore, the increasing digitization of the economy is creating new opportunities for the Metaverse Gaming market. As more industries and sectors embrace digital transformation, the demand for virtual experiences and online entertainment is expected to grow. This trend is likely to further fuel the development of the Metaverse Gaming market in NAFTA. In conclusion, the Metaverse Gaming market in NAFTA is experiencing significant growth and development, driven by customer preferences for immersive and interactive gaming experiences, trends such as blockchain integration and the convergence of gaming and entertainment, local special circumstances including a tech-savvy population and the presence of major gaming companies, and underlying macroeconomic factors such as strong economic growth and increasing digitization. These factors are shaping the Metaverse Gaming market in NAFTA and driving its continued expansion.

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.