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Metaverse Virtual Assets - Southern Asia

Southern Asia

The projected value in the Metaverse Virtual Assets market for Southern Asia is expected to reach US$122.7m by 2024.
Furthermore, it is anticipated that there will be an annual growth rate of 25.15% from 2024 to 2030, resulting in a projected market volume of US$471.5m by 2030.
In terms of market volume, in the United States is the dominant player, with a projected market volume of US$1,078.0m in 2024.
Looking at the number of users in the Metaverse Virtual Assets market, it is estimated that there will be approximately 13.8m users users by 2030.
The user penetration rate is expected to be 0.6% in 2024 and is projected to reach 0.7% by 2030.
Lastly, the average Value per user (ARPU) is expected to amount to US$11.0 in Southern Asia.
In Southern Asia, the demand for Metaverse Virtual Assets is skyrocketing, with the country seeing a surge in virtual real estate purchases and virtual fashion trends.

Market

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Analyst Opinion

The Metaverse Virtual Assets market in Southern Asia is experiencing significant growth and development.

Customer preferences: Customers in Southern Asia are increasingly interested in virtual assets within the metaverse. These virtual assets include digital currencies, NFTs (non-fungible tokens), virtual real estate, and virtual goods. The younger generation, in particular, is attracted to the immersive and interactive nature of the metaverse, driving the demand for virtual assets.

Trends in the market: One of the major trends in the metaverse virtual assets market in Southern Asia is the rise of NFTs. NFTs have gained popularity as a way to tokenize and trade unique digital assets, such as artwork, music, and collectibles. Southern Asian artists and creators are leveraging NFTs to showcase their work and monetize their digital assets. This trend is fueled by the growing interest in digital art and the desire for unique and exclusive virtual assets. Another trend in the market is the emergence of virtual real estate. Virtual worlds within the metaverse offer users the opportunity to own and trade virtual land and properties. This has created a virtual real estate market where users can buy, sell, and develop virtual properties. Southern Asian investors and entrepreneurs are exploring opportunities in this market, recognizing the potential for growth and profitability.

Local special circumstances: Southern Asia has a large and tech-savvy population, making it an ideal market for the metaverse virtual assets industry. Countries like India, Indonesia, and the Philippines have a high number of internet users and a growing middle class with disposable income. This creates a favorable environment for the adoption and growth of virtual assets within the metaverse. Furthermore, the gaming culture in Southern Asia is strong, with a large number of avid gamers. This familiarity with virtual worlds and digital assets makes Southern Asian consumers more receptive to the concept of the metaverse and virtual assets.

Underlying macroeconomic factors: The economic growth and increasing digitalization in Southern Asia are driving the development of the metaverse virtual assets market. As the region experiences economic prosperity, consumers have more disposable income to invest in virtual assets. Additionally, the rapid advancement of technology and internet infrastructure in Southern Asia has made it easier for individuals to access and participate in the metaverse. In conclusion, the Metaverse Virtual Assets market in Southern Asia is growing rapidly due to customer preferences for virtual assets, including NFTs and virtual real estate. The region's large and tech-savvy population, strong gaming culture, and favorable macroeconomic factors contribute to the development of this market. As the metaverse continues to evolve, Southern Asia is poised to be a key player in the virtual assets industry.

Methodology

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.