Metaverse Virtual Assets - GCC | Statista Market Forecast

The Metaverse Virtual Assets market is projected to reach a value of US$29.1m in 2024, according to industry estimates.
This market is expected to demonstrate a compound annual growth rate (CAGR) of 20.15% from 2024 to 2030, resulting in a projected market volume of US$87.7m by 2030.
It is worth noting that United States is the main generator of value in the Metaverse Virtual Assets market, with a projected market volume of US$1.1bn in 2024.
In terms of user base, the number of users is expected to reach 678.6k users by 2030.
The user penetration rate, which represents the proportion of the population that is engaged in the Metaverse Virtual Assets market, is projected to be 1.2% in 2024 and is expected to increase to 1.3% by 2030.
Furthermore, the average value per user, also known as Average Revenue Per User (ARPU), is anticipated to amount to US$48.6.
The GCC region is witnessing a growing demand for Metaverse virtual assets, driven by a tech-savvy population and a strong interest in immersive digital experiences.

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 GCC is experiencing significant growth and development.

Customer preferences: Customers in the GCC region are increasingly interested in the Metaverse Virtual Assets market due to its potential for immersive and interactive experiences. They are drawn to the idea of owning virtual assets such as virtual real estate, digital art, and virtual currencies, which can be bought, sold, and traded within the metaverse. This allows them to participate in a new form of digital economy and potentially earn profits from their virtual investments.

Trends in the market: One of the key trends in the Metaverse Virtual Assets market in the GCC is the growing demand for virtual real estate. Customers are eager to acquire virtual land within the metaverse to build virtual homes, businesses, and entertainment venues. This trend is driven by the desire for a unique and personalized virtual experience, as well as the potential for future value appreciation of virtual real estate. Another trend in the market is the increasing popularity of virtual art and collectibles. Customers in the GCC are showing a growing interest in owning and trading digital art pieces and virtual collectibles within the metaverse. This trend is fueled by the uniqueness and scarcity of virtual art, as well as the potential for high returns on investment.

Local special circumstances: The GCC region has a young and tech-savvy population, which contributes to the growing interest in the Metaverse Virtual Assets market. The region is also known for its high levels of disposable income, which allows customers to invest in virtual assets and participate in the digital economy. Additionally, the GCC governments have been supportive of digital innovation and have taken steps to create a favorable regulatory environment for the metaverse market.

Underlying macroeconomic factors: The development of the Metaverse Virtual Assets market in the GCC is also influenced by underlying macroeconomic factors. The region has a strong and stable economy, driven by industries such as oil and gas, real estate, and tourism. This economic stability provides customers with the confidence and financial means to invest in virtual assets. Additionally, the GCC countries have a high level of internet penetration and advanced digital infrastructure, which enables seamless participation in the metaverse. In conclusion, the Metaverse Virtual Assets market in the GCC is experiencing significant growth and development. Customer preferences for immersive and interactive experiences, coupled with the desire to own virtual assets, are driving this trend. The growing demand for virtual real estate and virtual art, as well as the favorable local circumstances and underlying macroeconomic factors, are contributing to the expansion of the market in the GCC region.

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.