Metaverse - Taiwan

Taiwan

The projected value of the Metaverse market in 2024 is estimated to reach US$424.8m .
It is expected that the market will experience a steady annual growth rate (CAGR 2024-2030) of 39.38%.
This growth will result in a projected market volume of US$3,115.0m by 2030.
In terms of market share, United States is currently the dominant player, generating the most value with a projected market volume of US$23.0bn in 2024.
Looking at the number of users, it is anticipated that there will be approximately 15.0m users users by 2030.
The user penetration rate, which measures the percentage of the population using the Metaverse market, is expected to be 21.2% in 2024 and is projected to increase to 62.5% by 2030.
On average, each user is expected to generate a value of US$83.6 (ARPU) in the Metaverse market.
These projections indicate a significant potential for growth and development in the Metaverse market, with United States currently leading the way.
in Taiwan, as a country, can also tap into this market segment and explore opportunities for its own growth in this industry.
Taiwan's Metaverse market is booming with the emergence of virtual reality gaming arcades and a rise in virtual shopping experiences.

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Analyst Opinion

The Metaverse market in Taiwan is experiencing significant growth and development, driven by customer preferences for immersive digital experiences and the increasing adoption of virtual reality (VR) and augmented reality (AR) technologies. Customer preferences in Taiwan are shifting towards immersive digital experiences that offer a combination of entertainment, social interaction, and productivity.

This has led to a growing demand for Metaverse platforms that provide virtual environments where users can explore, interact, and create content. Additionally, Taiwanese consumers are increasingly interested in using VR and AR technologies for gaming, education, and virtual tourism experiences. Trends in the Metaverse market in Taiwan include the emergence of local Metaverse platforms and the integration of blockchain technology.

Local companies are developing Metaverse platforms that cater to the specific needs and preferences of Taiwanese users, offering localized content and features. These platforms are also integrating blockchain technology to enhance security, transparency, and ownership of virtual assets within the Metaverse. Furthermore, there is a growing trend of partnerships between Metaverse platforms and established Taiwanese brands, such as entertainment companies and gaming studios, to create immersive experiences that leverage popular intellectual properties.

Local special circumstances in Taiwan contribute to the development of the Metaverse market. Taiwan has a strong technology ecosystem and a high level of digital literacy among its population, which creates a favorable environment for the adoption of Metaverse technologies. Additionally, the government of Taiwan is actively supporting the development of the digital economy, including the Metaverse sector, through policies and initiatives that promote innovation, research, and entrepreneurship.

Underlying macroeconomic factors, such as the growth of the digital economy and the increasing importance of technology in various industries, are driving the development of the Metaverse market in Taiwan. The digital economy in Taiwan has been growing rapidly, with increasing investments in digital infrastructure, e-commerce, and digital services. This provides a strong foundation for the Metaverse market to thrive and expand.

Furthermore, the COVID-19 pandemic has accelerated the adoption of digital technologies and remote work practices, creating new opportunities for the Metaverse market to cater to the changing needs and preferences of consumers and businesses. In conclusion, the Metaverse market in Taiwan is experiencing significant growth and development due to customer preferences for immersive digital experiences, the increasing adoption of VR and AR technologies, the emergence of local Metaverse platforms, the integration of blockchain technology, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, it is expected to offer a wide range of opportunities for businesses and consumers in Taiwan.

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.