The "Metaverse - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Metaverse Market to Reach $980.5 Billion by 2030
The global market for Metaverse estimated at US$90 Billion in the year 2023, is projected to reach a revised size of US$980.5 Billion by 2030, growing at a CAGR of 34.8% over the analysis period 2023-2030.
The concept of "phygital" represents the convergence of the physical and digital worlds, marking a significant milestone in humanity's journey towards digitalization. At the forefront of this evolution is the metaverse, a virtual space where individuals interact and engage with digital environments in real-time.
Metaverse Software, one of the segments analyzed in the report, is projected to record 33.9% CAGR and reach US$588.9 Billion by the end of the analysis period. Growth in the Metaverse Hardware segment is estimated at 37.9% CAGR for the next 8-year period.
The metaverse holds immense importance as it blurs the lines between reality and virtuality, offering endless possibilities for communication, commerce, and entertainment. Signs indicate that the metaverse is rapidly gaining traction, with various stakeholders eyeing its potential. The metaverse value chain comprises key constituents such as technology providers, content creators, and platform operators, all contributing to its growth. The market outlook for the metaverse is promising, driven by factors like the dominance of desktop platforms and the gaming sector.
The U.S. Market is Estimated at $38.5 Billion, While China is Forecast to Grow at 38.5% CAGR
North America leads the charge in the metaverse market, with significant contributions from companies across the globe. Recent market activity reflects the growing momentum towards building the future of the metaverse, with influencers offering valuable insights into its potential and trajectory.
The Metaverse market in the U.S. is estimated at US$38.5 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$128.3 Billion by the year 2030 trailing a CAGR of 38.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 30.4% and 31.2% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 33.8% CAGR.
Key Attributes:
Report Attribute | Details |
No. of Pages | 475 |
Forecast Period | 2023 - 2030 |
Estimated Market Value (USD) in 2023 | $90 Billion |
Forecasted Market Value (USD) by 2030 | $980.5 Billion |
Compound Annual Growth Rate | 34.8% |
Regions Covered | Global |
METAVERSE - WATCHING THE FUTURE AS IT UNFOLDS TODAY
MARKET TRENDS & DRIVERS - WHAT'S BUZZING IN THE MARKET
FOCUS ON SELECT PLAYERS (Total 90 Featured)
For more information about this report visit https://www.researchandmarkets.com/r/k3ozao
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