Metaverse Virtual Assets - Japan | Statista Market Forecast

The Metaverse Virtual Assets market is projected to reach a value of US$155.7m in 2024, demonstrating its potential for growth.
This market is expected to experience an annual growth rate (CAGR 2024-2030) of 20.89%, resulting in a projected market volume of US$486.2m by 2030.
It is worth noting that United States is the primary generator of value in this market, with a projected market volume of US$1.1bn in 2024.
Looking ahead, the number of users in the Metaverse Virtual Assets market is expected to reach 1.1m users by 2030.
This indicates a growing interest and adoption of virtual assets.
Furthermore, user penetration is projected to increase from 0.8% in 2024 to 0.9% by 2030, highlighting the expanding reach of this market.
In terms of average Value per user (ARPU), it is anticipated to amount to US$151.1.
This metric provides insights into the value generated by each user participating in the Metaverse Virtual Assets market.
It is important to note that these projections and figures specifically pertain to the Metaverse Virtual Assets market and do not encompass the entire virtual asset landscape.
Additionally, these insights are applicable globally, including in Japan, a country known for its technological advancements and interest in virtual experiences.
Japan's robust gaming industry and tech-savvy population position it as a thriving market for Metaverse virtual assets.

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 Japan is experiencing significant growth and development.

Customer preferences: Japanese consumers have shown a strong interest in virtual assets within the metaverse. They are increasingly drawn to the immersive and interactive experiences that virtual worlds offer. The younger generation, in particular, is embracing the metaverse as a form of entertainment and social interaction. Additionally, Japanese consumers have a long-standing affinity for gaming and technology, making them receptive to virtual assets within the metaverse.

Trends in the market: One of the key trends in the Japanese Metaverse Virtual Assets market is the rise of virtual real estate. Japanese consumers are eager to acquire virtual land and properties within the metaverse, which they can customize and monetize. This trend is fueled by the desire for self-expression and the potential for financial gains through virtual businesses and events. Virtual real estate marketplaces have emerged to cater to this demand, providing a platform for buying, selling, and leasing virtual properties. Another trend in the market is the growing adoption of non-fungible tokens (NFTs) in the metaverse. NFTs allow users to own and trade unique digital assets, such as virtual art, collectibles, and virtual fashion items. Japanese artists and creators are leveraging NFTs to showcase their work and monetize their creations. This trend aligns with the global surge in NFT popularity and the increasing recognition of digital assets as valuable and tradable items.

Local special circumstances: Japan has a well-established gaming culture and a history of embracing virtual worlds. This cultural context has contributed to the rapid adoption of metaverse virtual assets in the country. Japanese companies have been at the forefront of developing virtual reality (VR) and augmented reality (AR) technologies, creating a strong foundation for the metaverse market. Additionally, the presence of influential Japanese gaming and entertainment companies has further propelled the growth of the metaverse virtual assets market.

Underlying macroeconomic factors: The Japanese economy has experienced a shift towards digitalization, accelerated by the COVID-19 pandemic. As more people work remotely and spend increased time at home, the demand for digital entertainment and virtual experiences has surged. This has created a fertile environment for the metaverse virtual assets market to thrive. Furthermore, the Japanese government has shown support for the development of the digital economy, including the metaverse sector, through initiatives and policies aimed at fostering innovation and technological advancements. In conclusion, the Metaverse Virtual Assets market in Japan is witnessing rapid growth and adoption. Customer preferences, such as the desire for immersive experiences and the affinity for gaming and technology, are driving the market. Trends in the market include the rise of virtual real estate and the increasing use of NFTs. The local special circumstances, such as Japan's gaming culture and the presence of influential companies, contribute to the market's development. Additionally, underlying macroeconomic factors, such as the digitalization of the economy and government support, further propel the growth of the metaverse virtual assets market in Japan.

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.