Metaverse Market Size, Revenue Analysis, PEST, Region & Country Forecast, 2020–2028
The global metaverse
market size was USD 48.12 Billion in 2020 and is expected to register a
revenue CAGR of 44.1% during the forecast period. Rising demand for virtual
assets, increasing usage of Non-Fungible Tokens (NFTs) to trade digital assets,
growing focus on developing metaverse platforms for diverse applications by
tech giants, and rapid development of Decentralized Finance (DeFi) applications
are among some of the key factors expected to continue to drive market revenue
growth during the forecast period.
Key
companies profiled - Facebook, Inc., Tencent Holdings Ltd.,
ByteDance Ltd., NetEase, Inc., Nvidia Corporation, Epic Games, Inc., Unity
Technologies, Inc., Roblox Corporation, Lilith Games, and Nextech AR Solutions
Corp.
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The information and communication technology
sector is expected to observe a robust revenue growth over the forecast period.
Factors such as technological advancements in AI and robotics, increasing
innovations, growing need for high data security, large data management are
fueling market development. Availability of variety of devices such as
computers, smartphones, softwares and growing usage of internet is boosting
overall growth of the information and communication technology. In addition,
growing adoption of IOT and cloud based systems, increasing demand for
technologically advanced devices, and change in consumer preference are some
significant factors fueling market growth.
Competitive landscape of global Metaverse
market is quite fragmented with regional and global key players. They are often
involved in various strategies including mergers and acquisitions,
collaborations, new product launches or corporate deals to sustain their market
position and expand their product portfolio.
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Regional analysis provides insights
into key trends and demands in each major country that can affect market growth
in the region.
·
North America (U.S., Canada, Mexico)
·
Europe (Germany, U.K., Italy, France, BENELUX,
Rest of Europe)
·
Asia Pacific (China, India, Japan, South
Korea, Rest of APAC)
·
Latin America (Brazil, Rest of LATAM)
·
Middle East & Africa (Saudi Arabia,
U.A.E., South Africa, Rest of MEA)
The
global market is further segmented into Technology and application:
By
Technology:
·
Virtual Reality (VR) & Augmented Reality
(AR)
·
Mixed Reality (MR)
By
Application:
·
Social Media
·
Gaming
·
Aircraft Maintenance
·
Conference
·
Content Creation
·
Online Shopping
·
Virtual Runway Shows
Key
questions addressed in the global Metaverse market report:
·
What revenue CAGR is the global Metaverse
market projected to register throughout the forecast period?
·
Which leading companies are operating in the
global Metaverse market?
·
Which region is expected to account for
largest revenue growth over the forecast period?
·
What are the key drivers that are expected to
fuel the global market?
·
What are the key outcomes of Porter’s Five
Force analysis of the global Metaverse market?
·
What are the key restraints expected to hamper
global market growth?
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