Metaverse

The projected value in the Metaverse market for the year 2024 is estimated to reach US$229.0m.
It is expected to exhibit an annual growth rate of 38.30% from 2024 to 2030, resulting in a projected market volume of US$1.6bn by 2030.
The United States dominates the market with a projected market volume of US$23.0bn in 2024.
In terms of user base, the number of users is expected to reach 5.5m users by 2030.
The user penetration rate, which stands at 20.2% in 2024, is anticipated to increase to 55.2% by 2030.
The average value per user (ARPU) is projected to be US$118.0.
It is important to note that these figures pertain to the Metaverse market and its growth trends.
The United Arab Emirates is witnessing a surge in demand for virtual reality experiences, driving the growth of the Metaverse market.

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 United Arab Emirates is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In United Arab Emirates, customers have shown a strong preference for immersive and interactive digital experiences. The Metaverse offers a unique opportunity for individuals to engage with virtual worlds, socialize with others, and explore new possibilities. With a tech-savvy population and a growing interest in cutting-edge technologies, customers in United Arab Emirates are embracing the concept of the Metaverse.

Trends in the market: One of the key trends in the Metaverse market in United Arab Emirates is the integration of virtual reality (VR) and augmented reality (AR) technologies. This allows users to have a more immersive and realistic experience within the virtual world. Additionally, there is a growing demand for Metaverse platforms that offer cross-platform compatibility, allowing users to access the virtual world from various devices such as smartphones, tablets, and VR headsets. Another trend in the market is the emergence of virtual marketplaces within the Metaverse. These marketplaces enable users to buy and sell virtual assets, such as digital art, virtual real estate, and virtual fashion items. This trend is driven by the increasing popularity of non-fungible tokens (NFTs) and the desire for individuals to own unique and exclusive digital assets.

Local special circumstances: United Arab Emirates has a thriving tech ecosystem and is known for its innovation and investment in emerging technologies. The government has been actively promoting the development of the digital economy, which includes the Metaverse. This supportive environment has attracted both local and international companies to invest in the Metaverse market in United Arab Emirates, leading to its rapid growth. Furthermore, United Arab Emirates is a popular destination for tourism and business, attracting a diverse range of individuals from around the world. The Metaverse provides an opportunity to bridge the physical and digital worlds, allowing tourists and business travelers to engage with the country's culture, landmarks, and experiences in a virtual environment. This unique proposition has contributed to the growth of the Metaverse market in United Arab Emirates.

Underlying macroeconomic factors: The strong economic growth and high disposable income levels in United Arab Emirates have provided individuals with the financial means to invest in Metaverse experiences and virtual assets. Additionally, the country's strategic location and well-established infrastructure make it an attractive hub for Metaverse companies and investors. Furthermore, the COVID-19 pandemic has accelerated the adoption of digital technologies and virtual experiences. With restrictions on physical gatherings and travel, individuals have turned to the Metaverse as a way to socialize, work, and explore new opportunities. This shift in behavior has further fueled the growth of the Metaverse market in United Arab Emirates. In conclusion, the Metaverse market in United Arab Emirates is experiencing significant growth and development due to customer preferences for immersive digital experiences, trends such as the integration of VR and AR technologies and the emergence of virtual marketplaces, local special circumstances including a supportive tech ecosystem and a thriving tourism industry, and underlying macroeconomic factors such as strong economic growth and the impact of the COVID-19 pandemic.

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.