Metaverse - NAFTA

NAFTA

The projected value of the Metaverse market in 2024 is estimated to reach US$25.4bn.
This market is expected to grow at an annual growth rate of 38.26% from 2024 to 2030, resulting in a projected market volume of US$177.6bn by 2030.
The United States is the leading contributor to this market, with a projected market volume of US$23.0bn in 2024.
By 2030, the number of users in the Metaverse market is expected to reach 274.7m users.
The user penetration rate, which is currently at 18.7% in 2024, is projected to increase to 52.1% by 2030.
The average value per user (ARPU) is expected to be US$266.3.
These figures highlight the significant growth potential of the Metaverse market and its impact on the economy.
It is worth noting that these projections are for the global market, and specific regions may experience variations in growth and market dynamics.
In the case of NAFTA, which includes United States, Canada, and Mexico, the projected market volume and user figures can be expected to contribute significantly to the overall Metaverse market.
The Metaverse market in NAFTA is experiencing rapid growth, fueled by the strong adoption of virtual reality and augmented reality technologies.

Market

Region

Region comparison

Currency

Analyst Opinion

The Metaverse market in NAFTA is experiencing significant growth and development.

Customer preferences: Customers in NAFTA are increasingly interested in immersive virtual experiences and are willing to invest in technologies that enable them to engage with the Metaverse. They are seeking opportunities to connect with others, explore virtual worlds, and participate in virtual events. Additionally, customers are looking for platforms that offer a seamless and user-friendly experience, with high-quality graphics and interactive features.

Trends in the market: One key trend in the Metaverse market in NAFTA is the rise of virtual reality (VR) and augmented reality (AR) technologies. These technologies are enabling users to experience the Metaverse in a more immersive and interactive way. VR headsets and AR glasses are becoming more accessible and affordable, driving adoption among consumers. This trend is expected to continue as technology advances and more content is developed for these platforms. Another trend in the market is the increasing integration of the Metaverse into various industries. Companies in sectors such as gaming, entertainment, retail, and real estate are leveraging the Metaverse to enhance customer experiences and drive business growth. For example, gaming companies are creating virtual worlds where players can interact with each other and explore new gaming experiences. Retailers are using the Metaverse to create virtual stores where customers can browse and purchase products. Real estate developers are creating virtual tours of properties, allowing potential buyers to explore homes and buildings without physically visiting them.

Local special circumstances: The Metaverse market in NAFTA is also influenced by local special circumstances. For instance, the United States is home to many technology companies that are at the forefront of Metaverse development. These companies have the resources and expertise to drive innovation and create compelling virtual experiences. Canada, on the other hand, has a strong gaming industry and a highly skilled workforce, which positions it well to capitalize on the opportunities presented by the Metaverse. Mexico, with its large population and growing middle class, represents a significant market for Metaverse technologies and experiences.

Underlying macroeconomic factors: The growth of the Metaverse market in NAFTA is supported by several underlying macroeconomic factors. The region has a strong digital infrastructure, with widespread internet access and high-speed connectivity. This enables users to access and engage with the Metaverse seamlessly. Additionally, the region has a large and affluent consumer base, which provides a significant market for Metaverse products and services. The presence of a robust technology sector and a culture of innovation further drives the development and adoption of Metaverse technologies in NAFTA.

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.