Metaverse Virtual Assets - MENA | Statista Market Forecast

Market size in the Metaverse Virtual Assets market is projected to reach US$100.7m in 2024.
Market size is expected to show an annual growth rate (CAGR 2024-2030) of 21.04%, resulting in a projected market volume of US$316.8m by 2030.
With a projected market volume of US$1.1bn in 2024, the largest market size is generated United States.
In the Metaverse Virtual Assets market, the number of users is expected to amount to 4.6m users by 2030.
User penetration will be 1.1% in 2024 and is expected to hit 1.3% by 2030.
The average Market size per user (ARPU) is expected to amount to US$25.7.

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 MENA is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the MENA region are playing a crucial role in the development of the Metaverse Virtual Assets market.

Customers are increasingly seeking immersive and interactive digital experiences, which has fueled the demand for virtual assets within the metaverse. The ability to own and customize virtual assets such as virtual real estate, clothing, and accessories has become a popular form of self-expression and status symbol among consumers in the region. Trends in the market further contribute to the growth of the Metaverse Virtual Assets market in MENA.

The region has witnessed a surge in the popularity of virtual reality (VR) and augmented reality (AR) technologies, creating a fertile ground for the development of the metaverse. The increasing adoption of these technologies by businesses and individuals has opened up new opportunities for virtual asset creators, developers, and investors. Local special circumstances also play a significant role in shaping the Metaverse Virtual Assets market in MENA.

The region has a young and tech-savvy population, with a high smartphone penetration rate and a growing internet user base. This tech-savvy population is eager to explore new digital experiences and is receptive to the concept of virtual assets within the metaverse. Additionally, the MENA region has a vibrant gaming and entertainment industry, which provides a solid foundation for the development of the metaverse and the demand for virtual assets.

Underlying macroeconomic factors further contribute to the growth of the Metaverse Virtual Assets market in MENA. The region has been witnessing rapid economic growth and increasing disposable income, which has led to a rise in consumer spending on digital experiences and entertainment. As more individuals in the region have the financial means to invest in virtual assets, the market continues to expand.

In conclusion, the Metaverse Virtual Assets market in MENA is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for immersive digital experiences, the popularity of VR and AR technologies, the tech-savvy population, and the region's economic growth all contribute to the flourishing market. As the metaverse continues to evolve, the market for virtual assets in MENA is expected to further expand and diversify.

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.