Global Metaverse Market Size, Share, Growth Analysis, By Type(Mobile, Desktop), By Technology(Blockchain, VR & AR), By Application(Gaming, Online Shopping) - Industry Forecast 2023-2030

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Global Metaverse Market size was valued at USD 42.05 billion in 2021 and is poised to grow from USD 61.8 billion in 2022 to USD 322.02 billion by 2030, growing at a CAGR of 47.2% in the forecast period (2023-2030).

The global metaverse market is fairly concentrated, with a few big and medium-sized market participants accounting for a large portion of Metaverse Market revenue. Major players are implementing numerous tactics, including mergers and acquisitions, strategic agreements and contracts, and the development and testing of metaverse platforms. 'Roblox Corporation', 'Epic Games, Inc.', 'Unity Technologies', 'Second Life', 'High Fidelity', 'Decentraland', 'Somnium Space', 'Cryptovoxels', 'The Sandbox', 'Horizon Workrooms by Facebook', 'VRChat', 'AltSpaceVR', 'Sinespace', 'Sansar', 'Bigscreen', 'Rec Room', 'JanusVR', 'Mozilla Hubs', 'Spatial', 'Engage VR'

Rise of blockchain and digital assets is anticipated to drive the global metaverse market growth. With the arrival of a new open, decentralized internet, comes an increased focus on blockchain, for the management of transparent data. Blockchain allow for convenient, trustless data exchanges, recorded histories, and decentralized authority. Many experts believe the blockchain will play an important role in the creation of a safe and fair metaverse. The blockchain is also helping to form the creation of a new economy within the metaverse, one defined by creators being able to monetize the things they make and receive adequate compensation for their talents. NFTs, or non-fungible tokens, for instance, are an exciting part of the metaverse, which allow people to sell everything from data to services and experiences, in a way that benefits the actual artist or creator behind each asset.

Global metaverse market is booming, with investors making multi-million-dollar deals. In 2021, sales of virtual land reached a new high of USD 500 million. Sales surged threefold in January 2022 compared to the same time in 2021. Rising interest in non-fungible tokens (NFTs) confirms that people are looking for novel and unconventional methods of investment. Over USD 100 million has already been spent on metaverse land plots. Sandbox, Decentraland, Cryptovoxels, and Somnium have been the "Big Four" in terms of real estate sales in Metaverse. The prices for virtual lands have risen by up to 500%, following Facebook's announcement that it was going all-in on virtual reality and changing its business name to Meta Platforms.

North America is expected to account for the largest revenue share of more than 45.0% in 2021, owing to the region's significant adoption of new and more complex technology among consumers. Furthermore, growing number of start-ups focusing on the establishment of metaverse platforms for commercialization is expected to support the regional Metaverse Market's revenue growth. Furthermore, the region's strong presence of gaming and metaverse businesses such as The Sandbox, Nvidia Corporation, and Epic Games, Inc., which are focused on incorporating metaverse into games, is creating market growth potential. NVIDIA Corporation, for example, announced partnerships with Blender and Adobe that will allow NVIDIA Omniverse, the world's first collaboration and simulation platform, to reach millions more users.

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Global Metaverse Market Size, Share, Growth Analysis, By Type(Mobile, Desktop), By Technology(Blockchain, VR & AR), By Application(Gaming, Online Shopping) - Industry Forecast 2023-2030

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