Metaverse Live Entertainment - GCC

The Metaverse Live Entertainment market is projected to reach a value of US$2.5m in 2024.
This market is expected to display an annual growth rate (CAGR 2024-2030) of 10.63%, resulting in a projected market volume of US$4.5m by 2030.
In 2024, United States is expected to generate the highest market volume, estimated at US$89.2m.
Looking ahead to 2030, the number of users in the Metaverse Live Entertainment market is expected to reach 41.6k users.
The user penetration rate is projected to be 0.1% in 2024 and is expected to increase to 0.1% by 2030.
The average value per user (ARPU) is forecasted to amount to US$80.4.
The GCC region is witnessing a surge in the demand for immersive live entertainment experiences within the Metaverse.

Definition:

The Live Entertainment market refers to the use of virtual and augmented reality technology to create immersive experiences for live events and performances. This includes virtual concerts, theater productions, and comedy shows. These events can be attended by users in the metaverse, who can interact with each other and the performers in real time.

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. Key players in the market include companies, such as live events in Fortnite with performances by Marshmello or Travis Scott. For more information on the data displayed, use the info button right next to the boxes.

Virtual concerts, such as Travis Scott in the metaverse
Virtual festivals, such as the Metaverse Festival
Virtual art galleries, such as VR Museum of Fine Art

Live concerts streamed, such as streaming on Twitch or Youtube
Sport events streamed, such as Football

The Metaverse Live Entertainment market in GCC is experiencing significant growth and development.

Customer preferences: Customers in the GCC region have shown a strong preference for immersive and interactive entertainment experiences. They are seeking unique and innovative ways to engage with live entertainment, and the Metaverse provides an ideal platform for this. The ability to explore virtual worlds, interact with virtual characters, and participate in virtual events has captivated the imagination of consumers in the GCC.

Trends in the market: One of the key trends in the Metaverse Live Entertainment market in the GCC is the rise of virtual concerts and events. Virtual concerts allow artists to reach a global audience without the limitations of physical venues. This trend has gained traction in the GCC region, with both local and international artists embracing the Metaverse as a means of connecting with their fans. The immersive nature of these virtual concerts, combined with the ability to interact with other attendees, has made them highly popular among consumers in the GCC. Another trend in the market is the integration of virtual reality (VR) and augmented reality (AR) technologies into live entertainment experiences. This allows consumers to fully immerse themselves in virtual worlds and interact with virtual characters in real time. The GCC region has witnessed a growing demand for VR and AR experiences, and the Metaverse provides a perfect platform for delivering these experiences to consumers.

Local special circumstances: The GCC region is known for its high disposable income and a strong appetite for luxury experiences. This has contributed to the growth of the Metaverse Live Entertainment market, as consumers in the region are willing to invest in premium virtual experiences. Additionally, the GCC has a young and tech-savvy population that is eager to embrace new technologies and experiences.

Underlying macroeconomic factors: The development of the Metaverse Live Entertainment market in the GCC is also influenced by several macroeconomic factors. The region has a strong digital infrastructure, with high internet penetration rates and advanced telecommunications networks. This enables seamless connectivity and smooth user experiences in the Metaverse. Furthermore, the GCC governments are actively supporting the growth of the digital economy, including the Metaverse, through various initiatives and policies. These factors create a conducive environment for the development of the Metaverse Live Entertainment market in the GCC. In conclusion, the Metaverse Live Entertainment market in the GCC is experiencing rapid growth and development due to customer preferences for immersive and interactive experiences, the rise of virtual concerts and events, the integration of VR and AR technologies, local special circumstances such as high disposable income and a young population, and underlying macroeconomic factors including strong digital infrastructure and government support.

Data coverage:

Figures are based on in-app spending, consumer 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.

Regarded as the next iteration of the internet, the metaverse is where the physical and digital worlds come together. As an evolution of social technologies, the metaverse allows digital representations of people, avatars, to interact with each other in a variety of settings. Whether it be at work, in an office, going to concerts or sports events, or even trying on clothes, the metaverse provides a space for endless, interconnected virtual communities using virtual reality (VR) headsets, augmented reality (AR) glasses, smartphone apps, or other devices.