Metaverse - Morocco

Morocco

The Metaverse market is anticipated to witness a substantial growth, with its value projected to reach a staggering US$68.5m in 2024.
This impressive figure is expected to further increase at an annual growth rate (CAGR 2024-2030) of 41.15%.
Consequently, the projected market volume is estimated to reach an astounding US$541.8m by 2030.
It is worth mentioning that United States dominates this market segment, generating the highest value with a projected market volume of US$23.0bn in 2024.
In terms of user base, the Metaverse market is expected to attract a substantial number of users, with an estimated count of 15.1m users by 2030.
The user penetration rate, which stands at 12.8% in 2024, is projected to soar to 37.5% by 2030.
This signifies a significant increase in the adoption of the Metaverse market among the populace.
Furthermore, the average value per user (ARPU) is expected to reach US$14.0, indicating the potential for substantial revenue generation per user in the Metaverse market.
This signifies the value that each user contributes to the market segment.
It is important to note that these projections and figures pertain to the Metaverse market as a whole and do not specifically focus on the country of Morocco.
Nonetheless, it is interesting to observe the potential impact and opportunities that the Metaverse market may present for countries like in Morocco in terms of economic growth and technological advancements.
Morocco's Metaverse market is experiencing steady growth as local businesses embrace virtual reality technology to enhance customer experiences.

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Analyst Opinion

The Metaverse market in Morocco is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Morocco are increasingly leaning towards immersive and interactive digital experiences.

With the rise of social media and online gaming, there is a growing demand for virtual environments where users can connect, socialize, and engage in various activities. The Metaverse offers a unique platform for individuals to explore virtual worlds, interact with others, and participate in virtual economies. This appeals to the tech-savvy population in Morocco who are eager to embrace new technologies and digital experiences.

Trends in the market indicate a strong momentum towards the adoption of Metaverse technologies in Morocco. The country has witnessed a surge in virtual reality (VR) and augmented reality (AR) applications across various industries such as gaming, entertainment, education, and real estate. This growing interest in immersive technologies paves the way for the Metaverse to flourish as a more advanced and interconnected virtual world.

Additionally, the increasing availability of affordable VR and AR devices in the market further fuels the demand for Metaverse experiences. Local special circumstances in Morocco also contribute to the development of the Metaverse market. The country has a vibrant creative industry, with a rich cultural heritage and a thriving art scene.

This provides a fertile ground for the creation of unique and immersive virtual worlds that showcase Moroccan culture and traditions. Furthermore, Morocco has a young and tech-savvy population that is eager to embrace new technologies and digital experiences. This demographic factor creates a favorable environment for the Metaverse market to thrive and gain widespread adoption.

Underlying macroeconomic factors play a crucial role in driving the development of the Metaverse market in Morocco. The government has been actively promoting the digital economy and investing in technological infrastructure. This includes initiatives to improve internet connectivity, expand broadband access, and support the development of digital skills.

These efforts create a conducive environment for the growth of the Metaverse market, as it relies heavily on robust internet infrastructure and digital literacy. In conclusion, the Metaverse market in Morocco is experiencing rapid growth and development due to customer preferences for immersive digital experiences, market trends towards immersive technologies, local special circumstances such as a vibrant creative industry and a tech-savvy population, and underlying macroeconomic factors that support the digital economy. As the Metaverse continues to evolve and expand, Morocco is well-positioned to embrace and capitalize on this emerging market.

Methodology

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.