The global metaverse market is expected to grow at an impressive CAGR in the forecast period, 2023-2027. Growing demand for online education, the rising popularity of mixed reality (MR), and the increasing focus on converging physical and digital worlds are the significant drivers accelerating the growth of the global metaverse market in the forecast period. 

Metaverse is a network of 3D build worlds and refers to the virtual world accessible via internet facility. It is a type of simulated digital environment that uses augmented reality (AR), virtual reality (VR), blockchain technology, and concepts of social media platforms to enrich the consumer experience.

Rise in expenditure capacity of consumers to invest in the latest technology and smart devices to enhance the experience. Market players are constantly looking for innovative solutions to upgrade the user experience by adopting cutting-edge technology.

High-end Investments by Major Companies is Expected to Drive Market Growth

Facebook has announced plans to become a Metaverse company, including an investment plan of $10 billion to build the metaverse. Facebook has also changed its name from Facebook Inc to Meta Platforms and revealed its plans, allowing users to interact with family, friends, and colleagues by using their digital avatars.

Microsoft has also planned to enter metaverse by making their software more enterprise-centric by allowing professionals to join Team meetings as their digital avatars. BolleyHeroes NFT Project is building a metaverse based on the Bollywood film industry where users can create, launch shows and films, and create and sell NFTs. Fantico, which is an NFT platform, has also introduced that they are about to create a metaverse where people can create their avatars.

Nike has announced to invest in the Metaverse industry and has planned to launch their version called Nikeland, in which the users can play and create their digital avatars. Future plans, huge investments, collaborations, and partnerships between companies to enter the metaverse industry are expected to create massive growth opportunities for the global metaverse industry in the forecast period.

Adoption Of Metaverse Technology by Enterprise Supports Market Growth

Microsoft, Meta, HTC, and other big companies are about to invest in strengthening their metaverse capabilities to capture the largest market share and develop software specializing in training, collaborative working, and factory optimization. Enterprises are constantly looking for modern solutions to upgrade their existing structure and improve the productivity and efficiency of the employees.

Metaverse technology is expected to create new avenues and opportunities to change how businesses operate. Organizations working in the customer support and experience sector leverage the metaverse to enhance the consumer experience by assisting the customers through digital twins of the customer service executives to assemble, repair, and exchange their products.

Companies are planning to use metaverse technology for skill development. The development of virtual plants to give on-hand training to the employees for better understanding is expected to bolster the growth of the global metaverse market in the forecast period.


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Market Segmentation

The global metaverse market is segmented based on component, platform, technology, application, end user, regional distribution, and competitive landscape. Based on the component, the market is divided into in hardware and software. Based on the platform, the market is divided into desktop and mobile. Based on the technology, the market is divided into blockchain, VR & AR, and mixed reality. Based on the application, the market is divided into gaming, online shopping, content creation, social media, and others.

Based on the end user, the market is divided into BFSI, retail, manufacturing, media & entertainment, education, aerospace & defense, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North American region, Asia-Pacific region, European region, South American region, and Middle East & African region.

Market Players

Facebook Inc., Tencent Holdings Ltd., ByteDance Ltd., NetEase Inc., Nvidia Corporation, Epic Games Inc., Roblox Corporation, Unity Technologies Inc., Nextech AR Solutions Inc. are among the major market players in the global platform that lead the market growth of the Global Metaverse Market.

Attribute

Details

Base Year

2021

Historic Data

2017 – 2020

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered

  • Component
  • Platform
  • Technology
  • Application
  • End User

Regional scope

North America; Asia Pacific; Europe; South America; Middle East & Africa

Country scope

United States; Canada; Mexico; China; India; Japan; South Korea; Australia; Singapore; Malaysia; Germany; United Kingdom; France; Italy; Spain; Poland; Denmark; Brazil; Argentina; Colombia; Poland; Denmark; Saudi Arabia; South Africa; UAE; Iraq; Turkey

Key companies profiled

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

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, global metaverse market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • 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:
    • North America
      • United States
      • Canada
      • Mexico
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
      • Singapore
      • Malaysia
    • Europe
      • Germany
      • United Kingdom
      • France
      • Italy
      • Spain
      • Poland
      • Denmark
    • South America
      • Brazil
      • Argentina
      • Colombia
      • Peru
      • Chile
    • Middle East & Africa

§  Saudi Arabia

§  South Africa

§  UAE

§  Iraq

§  Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global metaverse market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

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1.     Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global Metaverse Market

4.    Executive Summary

5.    Voice of Customers

5.1.1.     Brand Awareness

5.1.2.     Factors Considered while Selecting Supplier

5.1.3.     Customer Satisfaction Level

5.1.4.     Major Challenges Faced

6.    Global Metaverse Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Component (Hardware and Software)

6.2.2.     By Platform (Desktop, Mobile)

6.2.3.     By Technology (Blockchain, VR & AR, Mixed Reality)

6.2.4.     By Application (Gaming, Online Shopping, Content Creation, Social Media, Others)

6.2.5.     By End User (BFSI, Retail, Manufacturing, Media & Entertainment, Education, Aerospace & Defense, Others)

6.2.6.     By Region

6.2.7.     By Company

6.3.  Product Market Map

7.    North America Metaverse Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Component

7.2.2.     By Platform

7.2.3.     By Technology

7.2.4.     By Application

7.2.5.     By End User

7.2.6.     By Country

7.3.  North America: Country Analysis

7.3.1.     United States Metaverse Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value 

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Component

7.3.1.2.2.             By Platform

7.3.1.2.3.             By Technology

7.3.1.2.4.             By Application

7.3.1.2.5.             By End User

7.3.2.     Canada Metaverse Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value 

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Component

7.3.2.2.2.             By Platform

7.3.2.2.3.             By Technology

7.3.2.2.4.             By Application

7.3.2.2.5.             By End User

7.3.3.     Mexico Metaverse Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value 

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Component

7.3.3.2.2.             By Platform

7.3.3.2.3.             By Technology

7.3.3.2.4.             By Application

7.3.3.2.5.             By End User

8.    Asia-Pacific Metaverse Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Component

8.2.2.     By Platform

8.2.3.     By Technology

8.2.4.     By Application

8.2.5.     By End User

8.2.6.     By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.     China Metaverse Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value 

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Component

8.3.1.2.2.             By Platform

8.3.1.2.3.             By Technology

8.3.1.2.4.             By Application

8.3.1.2.5.             By End User

8.3.2.     India Metaverse Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value 

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Component

8.3.2.2.2.             By Platform

8.3.2.2.3.             By Technology

8.3.2.2.4.             By Application

8.3.2.2.5.             By End User

8.3.3.     Japan Metaverse Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value 

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Component

8.3.3.2.2.             By Platform

8.3.3.2.3.             By Technology

8.3.3.2.4.             By Application

8.3.3.2.5.             By End User

8.3.4.     South Korea Metaverse Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value 

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Component

8.3.4.2.2.             By Platform

8.3.4.2.3.             By Technology

8.3.4.2.4.             By Application

8.3.4.2.5.             By End User

8.3.5.     Australia Metaverse Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value 

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Component

8.3.5.2.2.             By Platform

8.3.5.2.3.             By Technology

8.3.5.2.4.             By Application

8.3.5.2.5.             By End User

8.3.6.     Singapore Metaverse Market Outlook

8.3.6.1.         Market Size & Forecast

8.3.6.1.1.             By Value 

8.3.6.2.         Market Share & Forecast

8.3.6.2.1.             By Component

8.3.6.2.2.             By Platform

8.3.6.2.3.             By Technology

8.3.6.2.4.             By Application

8.3.6.2.5.             By End User

8.3.7.     Malaysia Metaverse Market Outlook

8.3.7.1.         Market Size & Forecast

8.3.7.1.1.             By Value 

8.3.7.2.         Market Share & Forecast

8.3.7.2.1.             By Component

8.3.7.2.2.             By Platform

8.3.7.2.3.             By Technology

8.3.7.2.4.             By Application

8.3.7.2.5.             By End User

9.    Europe Metaverse Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Component

9.2.2.     By Platform

9.2.3.     By Technology

9.2.4.     By Application

9.2.5.     By End User

9.2.6.     By Country

9.3.  Europe: Country Analysis

9.3.1.     Germany Metaverse Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value 

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Component

9.3.1.2.2.             By Platform

9.3.1.2.3.             By Technology

9.3.1.2.4.             By Application

9.3.1.2.5.             By End User

9.3.2.     United Kingdom Metaverse Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value 

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Component

9.3.2.2.2.             By Platform

9.3.2.2.3.             By Technology

9.3.2.2.4.             By Application

9.3.2.2.5.             By End User

9.3.3.     France Metaverse Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value 

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Component

9.3.3.2.2.             By Platform

9.3.3.2.3.             By Technology

9.3.3.2.4.             By Application

9.3.3.2.5.             By End User

9.3.4.     Italy Metaverse Market Outlook

9.3.4.1.         Market Size & Forecast

9.3.4.1.1.             By Value 

9.3.4.2.         Market Share & Forecast

9.3.4.2.1.             By Component

9.3.4.2.2.             By Platform

9.3.4.2.3.             By Technology

9.3.4.2.4.             By Application

9.3.4.2.5.             By End User

9.3.5.     Spain Metaverse Market Outlook

9.3.5.1.         Market Size & Forecast

9.3.5.1.1.             By Value 

9.3.5.2.         Market Share & Forecast

9.3.5.2.1.             By Component

9.3.5.2.2.             By Platform

9.3.5.2.3.             By Technology

9.3.5.2.4.             By Application

9.3.5.2.5.             By End User

9.3.6.     Poland Metaverse Market Outlook

9.3.6.1.         Market Size & Forecast

9.3.6.1.1.             By Value 

9.3.6.2.         Market Share & Forecast

9.3.6.2.1.             By Component

9.3.6.2.2.             By Platform

9.3.6.2.3.             By Technology

9.3.6.2.4.             By Application

9.3.6.2.5.             By End User

9.3.7.     Denmark Metaverse Market Outlook

9.3.7.1.         Market Size & Forecast

9.3.7.1.1.             By Value 

9.3.7.2.         Market Share & Forecast

9.3.7.2.1.             By Component

9.3.7.2.2.             By Platform

9.3.7.2.3.             By Technology

9.3.7.2.4.             By Application

9.3.7.2.5.             By End User

10.  South America Metaverse Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Component

10.2.2.  By Platform

10.2.3.  By Technology

10.2.4.  By Application

10.2.5.  By End User

10.2.6.  By Country

10.3.              South America: Country Analysis

10.3.1.  Brazil Metaverse Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value 

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Component

10.3.1.2.2.           By Platform

10.3.1.2.3.           By Technology

10.3.1.2.4.           By Application

10.3.1.2.5.           By End User

10.3.2.  Argentina Metaverse Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value 

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Component

10.3.2.2.2.           By Platform

10.3.2.2.3.           By Technology

10.3.2.2.4.           By Application

10.3.2.2.5.           By End User

10.3.3.  Colombia Metaverse Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value 

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Component

10.3.3.2.2.           By Platform

10.3.3.2.3.           By Technology

10.3.3.2.4.           By Application

10.3.3.2.5.           By End User

10.3.4.  Peru Metaverse Market Outlook

10.3.4.1.      Market Size & Forecast

10.3.4.1.1.           By Value 

10.3.4.2.      Market Share & Forecast

10.3.4.2.1.           By Component

10.3.4.2.2.           By Platform

10.3.4.2.3.           By Technology

10.3.4.2.4.           By Application

10.3.4.2.5.           By End User

10.3.5.  Chile Metaverse Market Outlook

10.3.5.1.      Market Size & Forecast

10.3.5.1.1.           By Value 

10.3.5.2.      Market Share & Forecast