Malaysia Metaverse Market Intelligence Report 2023: Market is Expected to Grow by 39.6% to Reach $2.278 Billion in 2023 - Forecasts to 2030

DUBLIN, April 26, 2023 /PRNewswire/ -- The "Malaysia Metaverse Market Intelligence and Future Growth Dynamics Databook - 100+ KPIs Covering Market Size by Sector X Use cases X Technology, Business and Consumer Spend, NFT Spend - Q1 2023" report has been added to  ResearchAndMarkets.com's offering.

Metaverse industry in Malaysia is expected to grow by 39.6% on an annual basis to reach US$2,278.4 million in 2023.

The Metaverse industry is expected to grow steadily over the forecast period, recording a CAGR of 32.2% during 2023-2030. The Metaverse Spend Value in the country will increase from US$1,632.0 million in 2022 to reach US$8,067.4 million by 2030.

The metaverse ecosystem is growing significantly across Malaysia. Currently, many innovative metaverse projects are under development in the Southeast Asian market, while a few have been already launched in Malaysia. The investment towards these metaverse projects is expected to further increase over the next three to four years, thereby supporting the growth of the industry.

Along with investment from private corporations, the government is also making an investment in the Malaysian metaverse landscape to build innovative experiences for its citizens. Overall, The publisher maintains a robust growth outlook for the Malaysian metaverse industry over the next three to four years.

Firms are launching property-related virtual reality platforms where consumers interact in real-time in Malaysia

A lot of innovative use cases have emerged over the last 12 months in the metaverse space, as firms continue to pour millions of dollars into the space. From shopping to playing games in the metaverse, innovation is growing in the Malaysian metaverse market. Another innovative use cases that has emerged focused on the real-estate market. 

In September 2022, Matrix Concepts, a property development firm in Malaysia, announced the launch of a property metaverse platform in the country. The platform allows participants to create their avatars and converse inside the metaverse in real-time through their created avatars. The metaverse platform allows consumers to explore the property just like they would in person.

In the future, the firm is planning to incorporate more features into its metaverse platform, including the ability to host live concerts, games, property shows, and much more. As the firm continues to invest in developing an immersive experience for consumers, the publisher expects the market to record robust growth from the short to medium-term perspective.

Local authorities are planning to launch metaverse experiences for their citizens inside the i-City in 2023

As the metaverse continues to gain popularity among consumers, government authorities have started to invest in the space to create immersive experiences for their customers. In Malaysia, local authorities have invested millions of dollars to create metaverse experiences and are planning to launch them in 2023. 

i-City invested US$10 million towards the development of metaverse experiences inside the theme park. The experiences are slated to be launched in 2023. To create and launch the immersive experiences, i-City partnered with China Mobile International Malaysia.

From the short to medium-term perspective, the publisher expects the local authorities to undertake more such innovative metaverse projects, which will subsequently drive investment and growth in the space.

Firms are launching a metaverse platform for enterprises in Malaysia

More businesses are looking to leverage the possibilities of metaverse to better engage with their customers. Consequently, firms are launching a metaverse platform that focuses to serve the different needs of brands and businesses. 

Meta Universe, a Malaysia-based firm, launched the metaverse platform to cater to the growing needs of businesses, that are looking to leverage the endless possibilities offered by the metaverse ecosystem. The metaverse platform helps businesses to gain new customers, increase and enhance customer engagement, as well as help them in adding a new dimension to their loyalty and rewards program.

At present, Meta Universe is the only firm that offers metaverse-focused enterprise solutions in the country. Such innovative metaverse projects are expected to boost the adoption of emerging technology among businesses in the country over the next three to four years.

Scope

Malaysia Metaverse Market Size and Future Growth Dynamics by Key Performance Indicators

• Total Spend Value Trend Analysis
• Business Spend Value Trend Analysis- Consumer Spend Value Trend Analysis

Malaysia Metaverse - Business Spend by Sector Value Trend Analysis, 2021-2030

• Retail Industry
• Technology & Telecommunications Industry
• Financial Services Industry
• Manufacturing Industry
• Travel and Hospitality Industry
• Media & Entertainment Industry
• Training & Education Industry
• Real Estate Industry
• Health & Wellness Industry
• Other

Malaysia Business Spend on Metaverse by Use Case / Application, 2021-2030

• Retail (Marketing & Advertising, Commerce, Operations & Training)
• Technology & Telecommunications (Marketing & Advertising, Commerce, Operations & Training)
• Financial Services (Marketing & Advertising, Commerce, Operations & Training)
• Manufacturing (Marketing & Advertising, Commerce, Operations & Training]
• Travel and Hospitality (Marketing & Advertising, Commerce, Operations & Training)
• Media & Entertainment (Marketing & Advertising, Commerce, Operations & Training)
• Training & Education (Marketing & Advertising, Commerce, Operations & Training)
• Real Estate (Marketing & Advertising, Commerce, Operations & Training)
• Health & Wellness (Marketing & Advertising, Commerce, Operations & Training)
• Other (Marketing & Advertising, Commerce, Operations & Training)

Malaysia NFT Spend by Sector Value Trend Analysis, 2021-2030

• Retail Industry
• Technology & Telecommunications Industry
• Financial Services Industry
• Manufacturing Industry
• Travel and Hospitality Industry
• Media & Entertainment Industry
• Training & Education Industry
• Real Estate Industry
• Health & Wellness Industry
• Other Industry

Malaysia Business Spend on Metaverse by Technology

• By Technology
• Retail Industry
• Technology & Telecommunications
• Financial Services
• Manufacturing Industry
• Travel and Hospitality
• Media & Entertainment
• Training & Education
• Real Estate
• Health & Wellness
• Other

Malaysia Spend on Metaverse by Platform

• Desktop
• Mobile
• Headset

Malaysia Ecommerce Spend on Metaverse by Sector (Gross Merchandise Value), 2021-2030

• Retail Shopping
• Travel and Hospitality
• Online Food Service
• Media & Entertainment
• Health & Wellness
• Technology Products & Services
• Other Industries

Malaysia NFT Market Size and Future Growth Dynamics by Key Performance Indicators

• NFT -Total Sales Spend Value Trend Analysis, 2021-2030
• NFT - Total Sales Spend Volume Trend Analysis, 2021-2030
• NFT - Average Value Per Transaction Trend Analysis, 2021-2030

Malaysia NFT Market Size and Forecast by Key Assets, 2021-2030

• NFT Collectibles and Art Trend Analysis, 2021-2030
• NFT Real Estate Trend Analysis, 2021-2030
• NFT Sports Trend Analysis, 2021-2030
• NFT Gaming Trend Analysis, 2021-2030
• NFT Utility Trend Analysis, 2021-2030
• NFT Fashion and Luxury Trend Analysis, 2021-2030
• Other Assets Trend Analysis, 2021-2030

Malaysia Consumer Spend on Metaverse by Device, 2021-2030

• Desktop
• Mobile
• Digital Gadgets

Malaysia Consumer Spend on Metaverse by Hardware Devices, 2021-2030

• AR (Augmented Reality)
• VR (Virtual Reality)
• MR (Mixed Reality)

For more information about this report visit https://www.researchandmarkets.com/r/tupv00

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