Metaverse Market is now Available on GlobalData Plc
LONDON, UK, October 3, 2022 /EINPresswire.com/ — The global metaverse market size reached USD 22.79 billion in 2021, according to a new report by GlobalData Plc. Companies are currently building metaverses around their core competencies while pursuing new use cases to expand their offerings. For instance, Microsoft’s Mesh is based on its competencies in cloud computing, artificial intelligence (AI), and augmented reality (AR). Similarly, Meta is focusing on AI and virtual reality (VR). In short, it is a convergence of several tech themes, and companies are adopting those that suit their capabilities and objectives. In addition, companies from non-tech sectors are investing in this technology to engage with customers, expand brand awareness, and identify new revenue streams.
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Furthermore, the technology is an emerging mega-theme involving companies from all technology sectors, including semiconductors, component makers, application software, advertising, and others. Some companies are taking early positions, while others have yet to enter the metaverse. However, their competencies are a natural fit for this developing theme. This report identifies companies that are well-positioned to benefit from the metaverse over the next eight years. The market value is projected to exceed $996.42 billion by 2030, registering a CAGR of 39.8% from 2022 to 2030.
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Metaverse Market Report Highlights
• The global metaverse market is projected to witness a CAGR of 39.8% from 2022 to 2030, reaching a value of US$996.42 billion.
• As of 2021 media and entertainment market captured a sizeable revenue share. The entertainment experience we have seen through metaverse has been through music and concerts, so a couple of notable ones are the dead mouse performance at metaverse festival in Decentraland and grimes hosted a concert that closed out Meadowverse fashion week.
• Also, in the non-blockchain world we have seen Travis Scott in Fortnite put on an enormous concert which showed US$ 20 Billion including merchandise versus the 1.7 billion from the regular show.
• During the forecast years 2022 to 2030, manufacturing will emerge as a leading revenue contributor to the segment, BMW has created a digital twin of its Regensburg production plant in Nvidia’s Omniverse. It claims to have lowered work order instructions for factory workers and reduced production planning time by 30%.
View Report at: https://www.globaldata.com/store/report/metaverse-market-analysis/
• The market on the basis of component stack comprises hardware, software, and services. In 2021, the hardware segment will make a sizeable contribution to the overall revenue.
• Hype over the metaverse may be subsiding slightly as world events overtake everyone’s available attention, but one of the biggest inhibitors to the fruition of the metaverse is headset hardware. Plans for the metaverse, large or small, rely on the hardware. There will be a lot of new hardware over the next few years
• On a regional demand front, in 2021, the Asia Pacific and North America markets together captured over 50% of the total market value.
• The key players analyzed as part of this report include Alibaba, Alphabet, Apple, Epic Games, Meta, Microsoft, Naver, Niantic Inc., Nvidia, Roblox, Tencent, and Unity Technologies, among others.
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GlobalData Plc has segmented the Metaverse market report by vertical, and region:
Metaverse Vertical Outlook (Revenue, USD Billion, 2020-2030)
• BFSI
• Retail
• Media & Entertainment
• Education
• Aerospace and Defense
• Manufacturing
• Others
Metaverse Component Stack Outlook (Revenue, USD Billion, 2020-2030)
• Hardware
• Software
• Services
Metaverse Regional Outlook (Revenue, USD Billion, 2020-2030)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Italy
• France
• Spain
• The Netherlands
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Australia
• Singapore
• Rest of Asia Pacific
• South & Central America
• Brazil
• Mexico
• Argentina
• Chile
• Rest of South & Central America
• Middle East & Africa
• United Arab Emirates (UAE)
• Kingdom of Saudi Arabia (KSA)
• South Africa
• Rest of Middle East & Africa
Related Reports
• https://www.globaldata.com/data-insights/consumer-electronics/metaverse-changing-the-technology-landscape/
• https://www.globaldata.com/data-insights/consumer-electronics/metaverse-the-latest-buzzword/
• https://www.globaldata.com/store/report/metaverse-in-the-alternative-digital-world-trend-analysis/
• https://www.globaldata.com/reports/metaverse-becoming-a-reality/
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GlobalData Plc
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mark.jephcott@globaldata.com
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