Metaverse Virtual Assets - Egypt | Statista Market Forecast

The Metaverse Virtual Assets market is expected to reach a value of US$15.2m in 2024.
It is projected to experience a compound annual growth rate (CAGR 2024-2030) of 19.54%, resulting in a market volume of US$44.5m by 2030.
Egypt is also part of this market segment.
The United States is currently generating the most value in the Metaverse Virtual Assets market, with a projected market volume of US$1.1bn in 2024.
By 2030, the number of users in this market is expected to reach 1.4m users.
The user penetration rate, which is currently at 1.0% in 2024, is expected to increase to 1.1% by 2030.
Furthermore, the average value per user (ARPU) is projected to amount to US$13.2.
In Egypt, the market for Metaverse Virtual Assets is experiencing a surge in demand driven by increasing interest from tech-savvy youth.

Definition:

The Virtual Assets market refers to the buying, selling, and trading of digital assets within virtual worlds and metaverse platforms. These assets range widely and include virtual currency and virtual collectibles.

Structure:

The Virtual Assets market includes Cryptocurrencies and NFTs. Cryptocurrencies refer to digital or virtual currencies that use cryptography for security, are decentralized, and operate independently from a central bank. They can be used as a medium of exchange within virtual worlds and metaverse platforms, which enable users to buy and sell virtual assets and make transactions without the need for a traditional financial intermediary. NFTs, or non-fungible tokens, are a type of digital asset that represents ownership of a unique item, such as a virtual collectible, virtual artwork, or virtual real estate property. Unlike cryptocurrencies, NFTs cannot be replaced by an identical copy, and their ownership is verified on a blockchain ledger. NFTs can be used to represent ownership of virtual assets within virtual worlds and metaverse platforms, and they can be bought, sold, and traded just like physical assets.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes show transaction values generated thorugh the metaverse using virtual assets. Market numbers for Virtual Assets are also featured in the Digital Media insights. Most used cryptocurrencies and NFTs in the market include Ethereum, Bitcoin, and Enjin Coin. For more information on the data displayed, use the info button right next to the boxes.

Cryptocurrencies used to buy goods in the metaverse, such as Ethereum
Non-fungible tokens bought in and for the metaverse, such as on OpenSea

Non-related metaverse transactions with cryptocurrencies, such as buying physical good with Bitcoin
Non-related metaverse transactions of Non-fungible tokens, such as buying digital art or collectibles

The Metaverse Virtual Assets market in Egypt is experiencing significant growth and development. Customer preferences are shifting towards virtual assets as they seek new ways to engage with digital experiences.

This trend is driven by a combination of factors, including advancements in technology, changing consumer behavior, and the increasing popularity of virtual reality and augmented reality. Customers in Egypt are increasingly interested in virtual assets as a form of entertainment, social interaction, and investment. They are drawn to the immersive and interactive nature of virtual worlds, which allow them to escape the constraints of the physical world and explore new possibilities.

Virtual assets such as virtual real estate, digital art, and virtual currencies are becoming highly sought after by Egyptian consumers. One of the key trends in the Metaverse Virtual Assets market in Egypt is the rise of virtual real estate. Customers are investing in virtual land and properties within virtual worlds, with the aim of building and monetizing virtual businesses and communities.

This trend is fueled by the growing popularity of virtual reality platforms and the increasing demand for virtual experiences. Another trend in the market is the growing interest in digital art as a form of virtual asset. Egyptian consumers are embracing digital art as a way to express themselves and showcase their creativity in virtual worlds.

Digital art platforms and marketplaces are emerging to cater to this demand, providing a space for artists to sell and trade their virtual artworks. In addition to entertainment and self-expression, customers in Egypt are also viewing virtual assets as a form of investment. They see the potential for virtual assets to appreciate in value over time, similar to traditional assets such as real estate or stocks.

This investment mindset is driving the demand for virtual currencies, which can be used to purchase virtual assets and participate in virtual economies. Local special circumstances in Egypt also contribute to the development of the Metaverse Virtual Assets market. The country has a large and tech-savvy population, with a high percentage of internet users and smartphone penetration.

This provides a fertile ground for the adoption of virtual assets and virtual reality technologies. Underlying macroeconomic factors, such as the growth of the digital economy and the increasing importance of technology in various sectors, are also driving the development of the Metaverse Virtual Assets market in Egypt. The government of Egypt has recognized the potential of virtual assets and is taking steps to support their growth.

This includes initiatives to promote digital innovation, improve internet infrastructure, and attract investment in the tech sector. In conclusion, the Metaverse Virtual Assets market in Egypt is experiencing rapid growth and development. Customer preferences are shifting towards virtual assets as they seek new ways to engage with digital experiences.

This trend is driven by advancements in technology, changing consumer behavior, and the increasing popularity of virtual reality and augmented reality. The rise of virtual real estate, the growing interest in digital art, and the investment mindset of customers are key trends in the market. Local special circumstances and underlying macroeconomic factors also contribute to the development of the market in Egypt.

Data coverage:

Figures are based on transaction values, revenues, and assets under management.

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, 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.