Metaverse

In 2024, the projected value in the Metaverse market is set to reach US$941.4m, with an anticipated annual growth rate (CAGR 2024-2030) of 41.02%.
This growth trajectory is expected to result in a market volume of US$7.4bn by 2030.
The United States stands as the dominant player in this market, generating the majority of its value, with a projected market volume of US$23.0bn in 2024.
Looking ahead, the number of users in the Metaverse market is projected to reach 50.4m users by 2030.
User penetration, which currently stands at 12.6% in 2024, is expected to increase significantly to 37.5% by 2030.
Furthermore, the average value per user (ARPU) is expected to amount to US$57.6.
These figures highlight the potential growth and significance of the Metaverse market, not only globally but also specifically in Mexico.
Mexico is experiencing a surge in virtual real estate sales as more individuals and businesses are investing in the country's vibrant Metaverse.

Definition:

The term metaverse refers to a virtual world or collection of virtual worlds that exist in a shared digital space and can be accessed by users through the internet. It typically includes virtual reality, augmented reality, and other immersive technologies. Its scope encompasses a wide range of possibilities and opportunities in education, entertainment, health and fitness, and even remote work, but it is commonly associated with eCommerce and gaming.

Structure:

The Metaverse market covers the markets eCommerce, Gaming, and Education. The eCommerce market covers all goods that can be purchased and distributed within and throughout the metaverse. Gaming encompasses all games that are either directly involved in classified metaverse apps or collaborative open-world games. Education covers the range of possibilities for consumers to experience courses, classes, field trips, and more in the metaverse. For a more detailed explanation of all the markets, see the respective market page.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through in-app purchases, advertising spending, and consumer spending on apps, games, items, products, and hardware such as headsets or glasses. Sales channel data shows both online and offline market sizes. Information on gaming, eCommerce, virtual assets, digital media, digital health, digital advertising, and education can also be found in the Digital Market Insights. Information on AR & VR hardware can also be found in the Advertising & Media Insights. Key players of the market include companies such as Meta, Roblox, Epic Games, and Decentraland.

Open-world games with social interaction, such as Fortnite
Ecommerce marketplaces, such as NIKELAND in Roblox
Virtual Assets used to buy goods in the metaverse, such as Ethereum
Education in form of online classes or certificates in the metaverse, such as Decentraland University

Non-related open-world games, such as World of Warcraft
Physical goods, service and products bought with cryptocurrencies, such as Fashion
Non-fungible Tokens bought as personal collectable, such as non-metaverse selection on OpenSea

The Metaverse market in Mexico is experiencing significant growth and development, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Mexico are contributing to the growth of the Metaverse market.

Mexican consumers are increasingly embracing digital experiences and virtual platforms, seeking new ways to connect, socialize, and engage with others. The younger population, in particular, is highly tech-savvy and eager to explore virtual worlds. This growing interest in digital experiences is fueling the demand for Metaverse platforms and services.

Trends in the market further support the development of the Metaverse in Mexico. The COVID-19 pandemic has accelerated the adoption of virtual technologies and online platforms, creating a fertile ground for the Metaverse to thrive. As people continue to seek alternative ways to interact and entertain themselves, the Metaverse offers a unique and immersive experience.

Companies and developers are recognizing this opportunity and investing in the creation of Metaverse ecosystems that cater to the Mexican market. Local special circumstances also play a role in the growth of the Metaverse market in Mexico. The country has a vibrant gaming and entertainment industry, with a strong presence of local developers and content creators.

This creative talent pool is driving innovation and contributing to the development of unique Metaverse experiences tailored to the Mexican audience. Additionally, Mexico's large population and increasing internet penetration provide a sizable market for Metaverse platforms to target. Underlying macroeconomic factors further support the expansion of the Metaverse market in Mexico.

The country has been experiencing steady economic growth in recent years, creating a favorable environment for business investments and consumer spending. This economic stability encourages companies to invest in the development of Metaverse technologies and platforms, while also enabling consumers to allocate disposable income towards virtual experiences. In conclusion, the Metaverse market in Mexico is witnessing remarkable growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

The increasing demand for digital experiences, accelerated by the COVID-19 pandemic, along with a vibrant gaming industry, a large population, and a stable economy, all contribute to the flourishing Metaverse market in Mexico. As the market continues to evolve, it is expected to offer even more immersive and engaging virtual experiences to Mexican consumers.

Data coverage:

Figures are based on advertising spending, in-app spending, in-game spending, online and offline sales, consumer spending, app downloads, and investment and funding data.

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, and 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.