Global Metaverse Market Report 2022-2027 - Increasing Need for Converging Physical and Digital World for Concerts, Film Showings, and Sports

DUBLIN, April 21, 2022 /PRNewswire/ -- The "Global Metaverse Market, By Component (Hardware and Software), By Platform (Desktop, Mobile), By Technology (Blockchain, VR & AR, Mixed Reality), By Application, By End User, By Region, Competition Forecast and Opportunities, 2017-2027" report has been added to ResearchAndMarkets.com's offering.

The global metaverse market is anticipated to grow at a formidable rate during the forecast period. The market growth can be attributed to the rising demand for online education and the growing popularity of mixed reality.

Besides, the increasing need for converging physical and digital world for concerts, film showings, and sports to elevate the online experience of viewers is also fueling the growth of the global metaverse market.

Growing personal disposable income of consumers and advances in novel technologies like blockchain, Augmented Reality, Virtual Reality, etc., are also driving the global metaverse market. Market players are constantly looking for innovative solutions to enhance user experience, adopting cutting-edge technology and investing in R&D activities, which is expected to boost the global metaverse market.

In 2021, Facebook announced to invest USD10 billion in building metaverse and changed the company's name to Meta. The platform would allow users to communicate with friends, families, or colleagues using their digital avatars. Furthermore, huge investments, collaborations, and partnerships in the metaverse industry are expected to create massive opportunities for industries across the globe.

Enterprises are looking for modern solutions to upgrade their existing structure and improve the productivity of employees, which is expected to propel the growth of the global metaverse market. The rapidly expanding gaming industry and increasing adoption of NFTs are also accelerating the growth of the global metaverse market.

The desktop segment is anticipated to register the highest growth in the global metaverse market as it offers high clarity and enhanced picture quality to users, which enhances their experience. The gaming segment is expected to hold the largest share in the global metaverse market as many gaming companies are introducing interactive games using advanced technologies with enhanced levels of emersion and interoperability.

Major players operating in the global metaverse market are Facebook Inc., Tencent Holdings Ltd., ByteDance Ltd., NetEase Inc., Nvidia Corporation, Epic Games Inc., Roblox Corporation, Unity Technologies Inc., Nextech AR Solutions Inc.

Objective of the Study:

• To analyze the historical growth in the market size of global metaverse market from 2017 to 2021
• To estimate and forecast the market size of global metaverse market from 2022E to 2027F and growth rate until 2027F
• To classify and forecast global metaverse market based on component application, platform, technology, end user, region and competitive Landscape
• To identify dominant region or segment in the global metaverse market
• To identify drivers and challenges for global metaverse market
• To examine competitive developments such as expansions, new services, mergers & acquisitions, etc, in global metaverse market
• To identify and analyze the profile of leading players operating in global metaverse market
• To identify key sustainable strategies adopted by market players in global metaverse market

Report Scope:

Company Profiles

• Facebook Inc.
• Tencent Holdings Ltd.
• ByteDance Ltd.
• NetEase Inc.
• Nvidia Corporation
• pic Games Inc.
• Roblox Corporation
• Unity Technologies Inc.
• Nextech AR Solutions Inc.

Years Considered for This Report:

• Historical Years: 2017-2020
• Base Year: 2021
• Estimated Year: 2022E
• Forecast Period: 2023F-2027F

Metaverse Market, By Component:

• Hardware
• Software

Metaverse Market, By Platform:

• Desktop
• Mobile

Metaverse Market, By Technology:

• Blockchain
• VR & AR
• Mixed Reality

Metaverse Market, By Application:

• Gaming
• Online Shopping
• Content Creation
• Social Media
• Others

Metaverse Market, By End User:

• BFSI
• Retail
• Manufacturing
• Media & Entertainment
• Education
• Aerospace & Defense
• Others

Metaverse Market, By Region

For more information about this report visit https://www.researchandmarkets.com/r/vnxvz5

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SOURCE Research and Markets