Metaverse

The Metaverse market is projected to reach a value of US$74.4bn in 2024.
This market is expected to grow at an annual growth rate (CAGR 2024-2030) of 37.73%, resulting in a projected market volume of US$507.8bn by 2030.
In 2024, United States generates the most value in the Metaverse market, with a projected market volume of US$23.0bn.
By 2030, the number of users in the Metaverse market is expected to reach 2.6bn users.
The user penetration is predicted to be 14.6% in 2024 and is expected to increase to 39.7% by 2030.
The average Value per user (ARPU) is projected to be US$79.5.
The Metaverse market holds significant potential worldwide.
The Metaverse market is booming worldwide, with countries like the United States, China, and Japan leading the way in terms of technological advancements and user adoption.

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 is experiencing rapid growth and development worldwide. As technology advances and virtual reality becomes more accessible, people are increasingly drawn to the immersive and interactive experiences offered by the Metaverse.

Customer preferences: Customers are seeking new ways to connect and engage with others, and the Metaverse provides a unique platform for social interaction. People are looking for virtual spaces where they can meet friends, attend events, and explore new worlds. The ability to customize avatars and create virtual identities is also appealing to customers, as it allows them to express themselves in ways that may not be possible in the physical world. Additionally, the Metaverse offers opportunities for entertainment, education, and commerce, further driving customer interest.

Trends in the market: One of the key trends in the Metaverse market is the integration of real-world elements into virtual environments. Companies are developing technologies that allow users to seamlessly transition between the physical and virtual worlds, blurring the lines between reality and fantasy. This trend is driven by the desire to create more immersive experiences and to leverage the vast amount of data available in the real world. For example, virtual reality headsets can now track users' movements and incorporate them into virtual environments, creating a more realistic and interactive experience. Another trend in the market is the rise of virtual economies within the Metaverse. Users can buy, sell, and trade virtual assets such as clothing, accessories, and even virtual real estate. This has created new opportunities for businesses to monetize their products and services in virtual spaces. Companies are also exploring the use of blockchain technology to enable secure and transparent transactions within virtual economies.

Local special circumstances: In different countries, there may be unique factors that influence the development of the Metaverse market. For example, in countries with a large gaming culture, there may be a higher demand for immersive gaming experiences within the Metaverse. In countries with limited physical space, there may be a greater interest in virtual real estate and the creation of virtual communities. Additionally, cultural factors may shape customer preferences and the types of experiences that are popular within the Metaverse.

Underlying macroeconomic factors: The growth of the Metaverse market is also influenced by underlying macroeconomic factors. As technology becomes more affordable and accessible, more people are able to participate in the Metaverse. Economic growth and rising disposable incomes also contribute to the expansion of the market, as customers have more resources to invest in virtual experiences. Additionally, government policies and regulations can impact the development of the Metaverse market. Supportive policies that encourage innovation and investment in virtual reality technologies can stimulate growth, while restrictive regulations may hinder market expansion.

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.