Metaverse Gaming - Nordics | Statista Market Forecast

The Metaverse Gaming market is projected to reach a value of US$397.4m in 2024.
This market segment is expected to show a compound annual growth rate (CAGR 2024-2030) of 43.67%, resulting in a projected market volume of US$3.5bn by 2030.
In 2024, United States is the leading generator of value in the Metaverse Gaming market, with a projected market volume of US$7.5bn.
Looking ahead to 2030, the number of users in the Metaverse Gaming market is projected to amount to 9.3m users.
The user penetration rate is expected to be 10.1% in 2024 and is forecasted to reach 32.4% by 2030.
The average value per user (ARPU) is expected to be US$139.8.
It is important to note that these projections are specific to the Nordics, a region known for its strong presence in the gaming industry.
In the Nordics, the Metaverse gaming market is thriving, with a strong emphasis on innovative virtual reality experiences and a high demand for immersive gameplay.

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 Nordics is experiencing significant growth and development, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Nordics have played a crucial role in shaping the Metaverse Gaming market.

The region has a strong gaming culture, with a high percentage of the population actively engaging in gaming activities. This has created a demand for immersive and interactive gaming experiences, which the Metaverse Gaming market is well-positioned to provide. Additionally, the Nordics have a tech-savvy population that embraces new technologies and is eager to explore the possibilities offered by the Metaverse.

Trends in the market further contribute to the growth of the Metaverse Gaming market in the Nordics. One of the key trends is the increasing popularity of virtual reality (VR) and augmented reality (AR) technologies. These technologies enhance the immersive gaming experience and allow players to interact with the virtual world in a more realistic and engaging way.

As a result, game developers and platform providers are investing in VR and AR capabilities to cater to the growing demand. Another trend in the market is the rise of esports in the Nordics. Esports, or competitive gaming, has gained a significant following in the region, with professional tournaments and leagues attracting large audiences.

The Metaverse Gaming market has capitalized on this trend by offering virtual arenas and platforms for esports competitions, allowing players to participate and spectate in a virtual environment. Local special circumstances also contribute to the development of the Metaverse Gaming market in the Nordics. The region has a strong focus on innovation and technology, with a thriving startup ecosystem.

This has fostered the growth of local companies specializing in Metaverse Gaming, creating a vibrant and competitive market. Additionally, the Nordics have a high standard of living and disposable income, enabling consumers to invest in gaming equipment and experiences. Underlying macroeconomic factors further support the growth of the Metaverse Gaming market in the Nordics.

The region has a stable economy and a well-developed infrastructure, providing a solid foundation for the expansion of the market. Furthermore, government support for the technology sector and initiatives to promote digital innovation have created a favorable environment for Metaverse Gaming companies to thrive. In conclusion, the Metaverse Gaming market in the Nordics is experiencing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

The region's strong gaming culture, tech-savvy population, and demand for immersive experiences have fueled the growth of the market. Additionally, trends such as the popularity of VR and AR technologies and the rise of esports have further contributed to the market's expansion. The local special circumstances, including the focus on innovation and technology and the high standard of living, have created a conducive environment for the Metaverse Gaming market to thrive.

Finally, the stable economy and government support for the technology sector have provided a solid foundation for the market's growth.

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.

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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.