Metaverse

The Metaverse market is projected to reach a value of US$948.0m in 2024.
This market is expected to experience a steady annual growth rate (CAGR 2024-2030) of 42.28%, resulting in a projected market volume of US$7.9bn by 2030.
In 2024, United States is anticipated to generate the highest market volume, estimated at US$23.0bn.
Looking ahead to 2030, the number of users in the Metaverse market is expected to reach 59.8m users.
The user penetration rate, which stands at 13.1% in 2024, is projected to increase significantly to 42.3% by 2030.
Furthermore, the average Value per user (ARPU) is anticipated to amount to US$50.3.
It's important to note that these figures provide insights into the potential growth and value of the Metaverse market, specifically in relation to in Russia.
"Russia's growing interest in the Metaverse is evident through the increasing number of virtual reality gaming events and conferences taking place in the country."

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 Russia is experiencing significant growth and development, driven by several key factors. Customer preferences in the Metaverse market in Russia are evolving as consumers seek more immersive and interactive experiences.

The demand for virtual reality (VR) and augmented reality (AR) technologies is increasing, as people are looking for new ways to connect, socialize, and engage with digital content. Russian consumers are particularly interested in gaming and entertainment applications within the Metaverse, as well as virtual shopping experiences and virtual events. Trends in the Metaverse market in Russia indicate a strong focus on gaming and entertainment.

The gaming industry in Russia has been growing steadily, with a large and active community of gamers. This has created opportunities for game developers and content creators to explore the potential of the Metaverse in enhancing gaming experiences. Additionally, the entertainment industry is leveraging the Metaverse to provide virtual concerts, live performances, and other interactive experiences.

Local special circumstances in Russia contribute to the development of the Metaverse market. The country has a strong technology sector and a growing number of tech-savvy individuals who are eager to adopt new digital innovations. Russian companies are actively investing in the development of Metaverse technologies and platforms, creating a supportive ecosystem for startups and entrepreneurs.

Furthermore, the government has shown interest in promoting the Metaverse as part of its digital transformation agenda, providing incentives and support for the industry's growth. Underlying macroeconomic factors also play a role in the development of the Metaverse market in Russia. The country has a large population and a growing middle class with increasing disposable income.

This creates a favorable market for consumer-oriented technologies and experiences, including the Metaverse. Additionally, advancements in internet infrastructure and connectivity have made it easier for Russian consumers to access and engage with Metaverse platforms and content. In conclusion, the Metaverse market in Russia is experiencing growth and development due to evolving customer preferences, trends in gaming and entertainment, local special circumstances, and underlying macroeconomic factors.

As the market continues to expand, there will be opportunities for businesses to innovate and capitalize on the growing demand for immersive and interactive digital experiences.

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.