Metaverse in Entertainment Market size to grow at a CAGR of 9.07% from 2022 to 2027, North America is estimated to account for 33% of the global market growth - Technavio

NEW YORK, June 9, 2023 /PRNewswire/ -- According to Technavio, the global metaverse in entertainment market size is estimated to grow by USD 33,323.31 million from 2022 to 2027. The market is estimated to grow at a CAGR of 9.07% during the forecast period. Moreover, the growth momentum will accelerate. North America will account for 33% of the market's growth. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. For more insights on the market share of various regions -Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

The metaverse in entertainment market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below -

Animoca Brands Corp. Ltd., BATTLE INFINITY, Decentraland, Epic Games Inc., Gamefam Inc., Hungama Digital Media Entertainment Pvt. Ltd., Meta Platforms Inc., NFT Worlds, Niantic Inc., Nolan Consulting Ltd., NVIDIA Corp., OverActive Media Corp., Qualcomm Inc., Queppelin, Roblox Corp., Scuti.AI LLC, Sky Mavis, SportsIcon Inc., Tencent Holdings Ltd., and Zilliqa Research Pte. Ltd.

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Metaverse in entertainment market - Segmentation assessment

Segment overview
Technavio has segmented the market based on end-user (film production, music labels, OTT platforms, television broadcasters, and others) and component (hardware, software, and services).

• The market share growth by the film production segment will be significant during the forecast period. Metaverse is expected to revolutionize the film industry. It will also change the film-viewing experience, as VR technology will be used to interact within this environment. Scenes shot in the real world will be projected onto the metaverse using avatars, which will reduce the need for a live location, crew, and filmmaking equipment. These factors, in turn, contribute to the growth of the segment during the forecast period.

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Metaverse in the entertainment market ? Market dynamics
Key factor driving market growth

• The growing adoption of AR/VR gaming by individuals drive the market growth.
• AR gaming enables users to play games in any environment. It provides a simulated environment through hardware products and software programs to give users a virtual experience.
• The use of AR devices such as smart glasses is expected to increase during the forecast period because of the rising awareness about AR gaming.
• For instance, companies such as Sony, Microsoft, and Vuzix are developing smart glasses using 3D technologies for the gaming sector.
• Hence, such factors fuel the growth of the global market during the forecast period.

Leading trends influencing the market 

• The rising adoption of online gaming is an emerging trend influencing market growth.
• Metaverse provides an immersive visual experience with the help of emerging technologies, including blockchain, IoT, and 3D visualization.
• The increasing use of advanced gaming technologies, changing consumer entertainment choices, and rising income levels drive the growth of the online gaming industry.
• Additionally, improved internet connectivity increases the number of players globally.
• Such factors will support the growth of the market during the forecast period.

Major challenges hindering market growth

• Privacy and security concerns are challenges hindering market growth.
• The metaverse collects and processes large amounts of data about users and their environment, which creates privacy concerns.
• Moreover, hackers may be able to gain access to users' devices.
• Smart gear used in the metaverse, such as smart glasses and VR headsets, can automatically screen and process the user's environment.
• Such disadvantages may hinder the growth of the market during the forecast period.

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Geography overview
Based on geography, the global metaverse in entertainment market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global metaverse in entertainment market.

• North America is estimated to account for 33% of the growth of the global market during the forecast period. The growth of this region is attributed to factors such as the growth of the entertainment and gaming industries. Major entertainment brands are expected to incorporate gaming services into their service portfolios and invest in the development of immersive gaming and entertainment experiences. The growth of interactive entertainment platforms and the rising focus on metaverse platforms will provide new ways to create content. Hence, such factors fuel the growth of the market in the region during the forecast period.

What are the key data covered in this metaverse in entertainment market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the metaverse in entertainment market between 2023 and 2027
• Precise estimation of the size of the metaverse in entertainment market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the metaverse in entertainment market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of metaverse in entertainment market vendors

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Related Reports:

The metaverse market is estimated to grow at a CAGR of 40.06% between 2022 and 2027. The size of the market is forecasted to increase by USD 1,152.35 billion. This report extensively covers market segmentation by device (VR or AR devices and computing devices), component (hardware, software, and services), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The rising consumer adoption of online gaming is an emerging trend in the market. 

The size of the metaverse market in finance is estimated to grow at a CAGR of 21.33% between 2022 and 2027. The size of the market is forecasted to increase by USD 107.06 billion. This report extensively covers component (hardware and software), end-user (brokerage firms, investment banks, commercial banks, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The integration with VR and AR platforms is notably driving the metaverse market in finance growth.

Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary ? Chart on Market Overview
• Exhibit 02: Executive Summary ? Data Table on Market Overview
• Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
• Exhibit 04: Executive Summary ? Chart on Market by Geography
• Exhibit 05: Executive Summary ? Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary ? Chart on Market Segmentation by Component
• Exhibit 07: Executive Summary ? Chart on Incremental Growth
• Exhibit 08: Executive Summary ? Data Table on Incremental Growth
• Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global metaverse in entertainment market 2017 - 2021
• Exhibit 18: Historic Market Size ? Data Table on Global metaverse in entertainment market 2017 - 2021 ($ million)

• 4.2 End-User Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size ? End-User Segment 2017 - 2021 ($ million)

• 4.3 Component Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size ? Component Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size ? Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size ? Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers ? Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers ? Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants ? Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes ? Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry ? Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Film production - Market size and forecast 2022-2027
• Exhibit 34: Chart on Film production - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Film production - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Film production - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Film production - Year-over-year growth 2022-2027 (%)

• 6.4 Music labels - Market size and forecast 2022-2027
• Exhibit 38: Chart on Music labels - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Music labels - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Music labels - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Music labels - Year-over-year growth 2022-2027 (%)

• 6.5 OTT platforms - Market size and forecast 2022-2027
• Exhibit 42: Chart on OTT platforms - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on OTT platforms - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on OTT platforms - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on OTT platforms - Year-over-year growth 2022-2027 (%)

• 6.6 Television broadcasters - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Television broadcasters - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Television broadcasters - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Television broadcasters - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Television broadcasters - Year-over-year growth 2022-2027 (%)

• 6.7 Others - Market size and forecast 2022-2027
• Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by End-user 
• Exhibit 54: Market opportunity by End-user ($ million)

7 Market Segmentation by Component

• 7.1 Market segments 
• Exhibit 55: Chart on Component - Market share 2022-2027 (%)
• Exhibit 56: Data Table on Component - Market share 2022-2027 (%)

• 7.2 Comparison by Component 
• Exhibit 57: Chart on Comparison by Component
• Exhibit 58: Data Table on Comparison by Component

• 7.3 Hardware - Market size and forecast 2022-2027
• Exhibit 59: Chart on Hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Hardware - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Hardware - Year-over-year growth 2022-2027 (%)

• 7.4 Software - Market size and forecast 2022-2027
• Exhibit 63: Chart on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 7.5 Services - Market size and forecast 2022-2027
• Exhibit 67: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Component 
• Exhibit 71: Market opportunity by Component ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 73: Chart on Market share by geography 2022-2027 (%)
• Exhibit 74: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 75: Chart on Geographic comparison
• Exhibit 76: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 85: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 93: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 97: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 UK - Market size and forecast 2022-2027
• Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.10 China - Market size and forecast 2022-2027
• Exhibit 105: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.11 Canada - Market size and forecast 2022-2027
• Exhibit 109: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.12 Germany - Market size and forecast 2022-2027
• Exhibit 113: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 114: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 115: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 116: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 117: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 118: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 119: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 120: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 121: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 122: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 123: Matrix on vendor position and classification

• 12.3 Animoca Brands Corp. Ltd. 
• Exhibit 124: Animoca Brands Corp. Ltd. - Overview
• Exhibit 125: Animoca Brands Corp. Ltd. - Product / Service
• Exhibit 126: Animoca Brands Corp. Ltd. - Key offerings

• 12.4 Decentraland 
• Exhibit 127: Decentraland - Overview
• Exhibit 128: Decentraland - Product / Service
• Exhibit 129: Decentraland - Key offerings

• 12.5 Epic Games Inc. 
• Exhibit 130: Epic Games Inc. - Overview
• Exhibit 131: Epic Games Inc. - Product / Service
• Exhibit 132: Epic Games Inc. - Key offerings

• 12.6 Gamefam Inc. 
• Exhibit 133: Gamefam Inc. - Overview
• Exhibit 134: Gamefam Inc. - Product / Service
• Exhibit 135: Gamefam Inc. - Key offerings

• 12.7 Hungama Digital Media Entertainment Pvt. Ltd. 
• Exhibit 136: Hungama Digital Media Entertainment Pvt. Ltd. - Overview
• Exhibit 137: Hungama Digital Media Entertainment Pvt. Ltd. - Product / Service
• Exhibit 138: Hungama Digital Media Entertainment Pvt. Ltd. - Key offerings

• 12.8 Meta Platforms Inc. 
• Exhibit 139: Meta Platforms Inc. - Overview
• Exhibit 140: Meta Platforms Inc. - Business segments
• Exhibit 141: Meta Platforms Inc. - Key offerings
• Exhibit 142: Meta Platforms Inc. - Segment focus

• 12.9 NFT Worlds 
• Exhibit 143: NFT Worlds - Overview
• Exhibit 144: NFT Worlds - Product / Service
• Exhibit 145: NFT Worlds - Key offerings

• 12.10 Niantic Inc. 
• Exhibit 146: Niantic Inc. - Overview
• Exhibit 147: Niantic Inc. - Product / Service
• Exhibit 148: Niantic Inc. - Key offerings

• 12.11 OverActive Media Corp. 
• Exhibit 149: OverActive Media Corp. - Overview
• Exhibit 150: OverActive Media Corp. - Business segments
• Exhibit 151: OverActive Media Corp. - Key offerings
• Exhibit 152: OverActive Media Corp. - Segment focus

• 12.12 Qualcomm Inc. 
• Exhibit 153: Qualcomm Inc. - Overview
• Exhibit 154: Qualcomm Inc. - Business segments
• Exhibit 155: Qualcomm Inc. - Key news
• Exhibit 156: Qualcomm Inc. - Key offerings
• Exhibit 157: Qualcomm Inc. - Segment focus

• 12.13 Queppelin 
• Exhibit 158: Queppelin - Overview
• Exhibit 159: Queppelin - Product / Service
• Exhibit 160: Queppelin - Key offerings

• 12.14 Roblox Corp. 
• Exhibit 161: Roblox Corp. - Overview
• Exhibit 162: Roblox Corp. - Product / Service
• Exhibit 163: Roblox Corp. - Key offerings

• 12.15 Scuti.AI LLC 
• Exhibit 164: Scuti.AI LLC - Overview
• Exhibit 165: Scuti.AI LLC - Product / Service
• Exhibit 166: Scuti.AI LLC - Key offerings

• 12.16 Tencent Holdings Ltd. 
• Exhibit 167: Tencent Holdings Ltd. - Overview
• Exhibit 168: Tencent Holdings Ltd. - Business segments
• Exhibit 169: Tencent Holdings Ltd. - Key offerings
• Exhibit 170: Tencent Holdings Ltd. - Segment focus

• 12.17 Zilliqa Research Pte. Ltd. 
• Exhibit 171: Zilliqa Research Pte. Ltd. - Overview
• Exhibit 172: Zilliqa Research Pte. Ltd. - Product / Service
• Exhibit 173: Zilliqa Research Pte. Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 174: Inclusions checklist
• Exhibit 175: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 176: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 177: Research methodology
• Exhibit 178: Validation techniques employed for market sizing
• Exhibit 179: Information sources

• 13.5 List of abbreviations 
• Exhibit 180: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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