Metaverse

The Metaverse market is projected to reach a value of US$2.6bn in 2024.
This market is expected to experience an annual growth rate (CAGR 2024-2030) of 40.73%, resulting in a projected market volume of US$20.3bn by 2030.
In South America, the projected market volume is estimated to be US$23.0bn in 2024.
The United States is currently the largest contributor to this market, generating the most value.
In terms of user base, the number of users in the Metaverse market is expected to reach 171.3m users by 2030.
The user penetration rate is projected to be 15.1% in 2024 and is expected to increase to 44.8% by 2030.
The average value per user, also known as ARPU, is anticipated to amount to US$46.9.
In South America, the Metaverse market is rapidly growing, with Brazil leading the way in terms of user adoption and virtual asset trading.

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 South America is experiencing significant growth and development. Customer preferences for immersive and interactive digital experiences, coupled with the region's unique characteristics, are driving this trend.

Additionally, underlying macroeconomic factors are contributing to the expansion of the Metaverse market in South America. Customer preferences in South America are leaning towards immersive and interactive digital experiences. The younger generation, in particular, is highly receptive to virtual reality (VR) and augmented reality (AR) technologies.

They are seeking innovative ways to connect, socialize, and consume content in a virtual environment. As a result, there is a growing demand for Metaverse platforms that offer virtual worlds, games, social interactions, and virtual commerce. Trends in the Metaverse market in South America reflect the global shift towards digitalization and virtual experiences.

Metaverse platforms are becoming more sophisticated, offering realistic graphics, seamless interactions, and expanded functionality. This enables users to explore virtual environments, create avatars, engage in social activities, and even conduct business transactions. Furthermore, there is a rise in cross-platform integration, allowing users to access the Metaverse from various devices, such as smartphones, tablets, and VR headsets.

Local special circumstances in South America contribute to the development of the Metaverse market. The region has a large and young population, which presents a significant market opportunity for Metaverse platforms. Additionally, South America has a vibrant gaming and entertainment industry, which provides a solid foundation for the growth of the Metaverse market.

The region's cultural diversity and rich heritage also offer unique opportunities for the development of virtual experiences that cater to local preferences and traditions. Underlying macroeconomic factors play a role in the expansion of the Metaverse market in South America. The region is experiencing increasing internet penetration and smartphone adoption rates, providing a broader user base for Metaverse platforms.

Additionally, the rise of e-commerce and digital payments in South America creates a favorable environment for virtual commerce within the Metaverse. As the region's economies continue to grow and digital infrastructure improves, the Metaverse market is expected to further flourish. In conclusion, the Metaverse market in South America is growing due to customer preferences for immersive digital experiences, global trends in digitalization, local special circumstances, and underlying macroeconomic factors.

As the market continues to evolve, it is crucial for businesses to understand and cater to the unique characteristics and preferences of South American 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.