Metaverse

The projected value of the Metaverse market in 2024 is expected to reach a staggering US$36.4m.
This market value is projected to experience an annual growth rate (CAGR 2024-2030) of 41.52%.
As a result, the market volume is projected to reach an impressive US$292.5m by the year 2030.
It is worth noting that United States currently generates the highest value in the Metaverse market, with a projected market volume of US$23.0bn in 2024.
Looking ahead, the number of users in the Metaverse market is expected to reach 2.9m users by the year 2030.
This indicates a significant growth in user base.
In 2024, the user penetration rate is projected to be 13.1%, but it is expected to increase to 42.4% by 2030.
This suggests a substantial increase in the number of people engaging with the Metaverse market.
Furthermore, the average value per user, also known as the Average Revenue Per User (ARPU), is estimated to be US$39.1.
This figure represents the average value generated by each user in the Metaverse market.
These projections and statistics provide valuable insights into the growth and potential of the Metaverse market.
It is interesting to note the significant role United States plays in this market segment.
As for Serbia, while it is not specifically mentioned in the provided information, it is important to consider its potential involvement and impact in the growing Metaverse market.
Serbia's Metaverse market is experiencing a surge in virtual reality adoption, with a growing number of users engaging in immersive digital experiences.

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

Serbia, like many other countries, is experiencing a growing interest in the Metaverse market. This virtual reality space is capturing the attention of consumers and businesses alike, offering a new and immersive way to interact with digital content.

Customer preferences in Serbia are shifting towards digital experiences and virtual interactions. With the increasing availability of high-speed internet and advancements in technology, Serbian consumers are embracing the Metaverse as a way to connect with others, explore new worlds, and access a wide range of digital services. The younger generation, in particular, is driving this trend, as they are more tech-savvy and open to exploring virtual environments.

One of the key trends in the Metaverse market in Serbia is the rise of virtual events and entertainment. With the limitations imposed by the COVID-19 pandemic, many traditional events and gatherings have been canceled or restricted. As a result, virtual events and experiences have gained popularity as an alternative.

Serbian consumers are attending virtual concerts, exhibitions, and conferences, enjoying the convenience of participating from the comfort of their own homes. This trend is expected to continue even after the pandemic, as it offers a cost-effective and accessible way to engage with global events. Another trend in the Metaverse market in Serbia is the integration of e-commerce and virtual shopping experiences.

Serbian consumers are increasingly comfortable with online shopping, and the Metaverse provides an opportunity for retailers to create immersive virtual stores. These virtual shopping experiences offer a new level of engagement, allowing consumers to explore products in a virtual environment and make purchases seamlessly. This trend is expected to grow as more businesses recognize the potential of the Metaverse as a sales channel.

Local special circumstances in Serbia contribute to the development of the Metaverse market. The country has a strong tech industry and a growing number of startups focused on virtual reality and augmented reality technologies. This entrepreneurial spirit and technological expertise provide a solid foundation for the growth of the Metaverse market.

Additionally, Serbia has a relatively affordable cost of living compared to other European countries, making it an attractive destination for digital nomads and remote workers. This influx of tech-savvy individuals further fuels the demand for virtual experiences and the development of the Metaverse market. Underlying macroeconomic factors also play a role in the development of the Metaverse market in Serbia.

The country has been experiencing steady economic growth in recent years, which has resulted in an increase in disposable income. This allows Serbian consumers to invest in technology and digital experiences, including the Metaverse. Furthermore, the government has been supportive of the tech industry, providing incentives and funding for startups and innovation.

These factors create a favorable environment for the growth of the Metaverse market in Serbia. In conclusion, the Metaverse market in Serbia is experiencing growth due to shifting customer preferences, the rise of virtual events and virtual shopping experiences, local special circumstances, and underlying macroeconomic factors. As Serbian consumers embrace digital experiences and businesses recognize the potential of the Metaverse, the market is expected to continue to expand in the coming years.

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.