Metaverse Live Entertainment - MENA

Market size in the Metaverse Live Entertainment market is projected to reach US$8.4m in 2024.
Market size is expected to show an annual growth rate (CAGR 2024-2030) of 10.63%, resulting in a projected market volume of US$15.5m by 2030.
With a projected market volume of US$89.2m in 2024, the largest market size is generated United States.
In the Metaverse Live Entertainment market, the number of users is expected to amount to 260.9k users by 2030.
User penetration will be 0.1% in 2024 and is expected to hit 0.1% by 2030.
The average Market size per user (ARPU) is expected to amount to US$44.2.

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 MENA is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the MENA region have played a crucial role in driving the growth of the Metaverse Live Entertainment market.

With a large and young population, there is a strong demand for immersive and interactive experiences. Customers in the region are increasingly seeking entertainment options that provide a unique and engaging experience, which the Metaverse Live Entertainment market is able to deliver. Additionally, customers in MENA have shown a preference for digital experiences, making the Metaverse a natural fit for their entertainment needs.

Trends in the market have also contributed to the growth of the Metaverse Live Entertainment market in MENA. The increasing availability of high-speed internet and advancements in technology have made it easier for individuals to access and participate in virtual experiences. This has led to a rise in the popularity of virtual concerts, live events, and interactive gaming experiences in the region.

Furthermore, the COVID-19 pandemic has accelerated the adoption of virtual entertainment options, as people have turned to online platforms for socialization and entertainment while adhering to social distancing measures. Local special circumstances have further fueled the development of the Metaverse Live Entertainment market in MENA. The region has a rich cultural heritage and a vibrant arts and entertainment scene, making it a fertile ground for the creation and consumption of virtual experiences.

Additionally, MENA is home to a growing number of tech-savvy individuals and startups, who have been instrumental in driving innovation and pushing the boundaries of what is possible in the Metaverse. The region's diverse and multicultural population also presents an opportunity for the creation of localized content and experiences that cater to specific cultural preferences and tastes. Underlying macroeconomic factors have also played a role in the growth of the Metaverse Live Entertainment market in MENA.

The region has been experiencing rapid economic growth and increasing disposable incomes, which has led to a greater willingness to spend on leisure and entertainment activities. This has created a favorable environment for the Metaverse Live Entertainment market to thrive, as consumers have the financial means to invest in virtual experiences and the infrastructure to support their participation. In conclusion, the Metaverse Live Entertainment market in MENA is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

As the region continues to embrace digital innovation and virtual experiences, the Metaverse is poised to become an integral part of the entertainment landscape in MENA.

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.