Metaverse Market to grow by USD 1,152.35 billion from 2022 to 2027|Growing smartphone penetration and use of 5G technology to boost market growth – Technavio

NEW YORK, July 28, 2023 /PRNewswire/ — The global metaverse market size is estimated to increase by USD 1,152.35 billion from 2022 to 2027. The market’s growth momentum will progress at a CAGR of 40.06% during the forecast period. Discover some insights on market size historic period (2017 to 2021) and Forecast (2023 to 2027) before buying the full report –Request a sample report

Metaverse market – Vendor Analysis
Vendor Landscape – The global metaverse market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer metaverse in the market are Accenture Plc, Active Theory LLC, Animoca Brands Corp. Ltd., ByteDance Ltd., CL Educate Ltd, Decentraland, Devden Creative Solutions Pvt. Ltd., Epic Games Inc., GoMeta Inc., Infosys Ltd., Magic Leap Inc., Meta Platforms Inc., Microsoft Corp., Mobiloitte Technologies, NexTech AR Solutions Corp., NVIDIA Corp., Queppelin, Tencent Holdings Ltd., Unity Software Inc., Wilkins Avenue AR, and Roblox Corp. and others.

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• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
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Vendor Offerings –

• Accenture Plc – The company offers Meatverse Continuum with 2D or 3D commerce, digital twins, blockchain AR, and extended reality.
• Animoca Brands Corp. Ltd. – The company offers metaverse called Pixelynx Inc. for gaming companies.
• ByteDance Ltd. – The company offers metaverse applications such as Douyin, Toutiao, TikTok, Xigua video, and Helo.
• For details on the vendor and their offerings – Request a sample report

Metaverse market – Segmentation Assessment
Segment Overview

The market is segmented 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 VR or AR devices segment will be significant for market growth during the forecast period. This segment includes various smart glasses, headsets, and lenses used for interacting on the Metaverse platform. Furthermore, new product launches and the growing adoption of VR/AR in different application areas, including metaverse, are various factors that are expected to drive the growth of the segment. Hence, such factors boost the growth of the VR or AR devices segment of the metaverse market during the forecast period.

Geography Overview
By geography, the global metaverse 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 market.

• North America will contribute 39% to the growth of the global market during the forecast period. Strong research activities conducted by vendors and universities to identify important application areas of AR and VR technology likely boost the growth of AR/VR. This will be driving the growth of the market in this region. Furthermore, the growing interest in virtual healthcare in the metaverse is also another factor driving growth in the region. Hence, such factors boost the growth of the regional market during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 – Download a Sample Report

Metaverse market – Market Dynamics
Leading Drivers – 

The growing smartphone penetration and use of 5G drive the metaverse market growth. The growing popularity of 5G, which provides high-speed connectivity, is preferred by consumers. The growing demand for 5G drives by the adoption of smart devices like smartphones, and as a result, there is a growing requirement to expand the coverage of 5G networks, leading to an increased demand for 5G equipment.

Moreover, smartphones are becoming increasingly common devices. As the penetration of smartphones continues to expand, there is an increase in online shopping activities and the use of social media platforms. Thus, the growing penetration of smartphones and the adoption of 5G are projected to be key drivers for the global market’s growth during the forecast period.

Key Trends – 

The rising consumer adoption of online gaming is an emerging metaverse trend influencing the market. Games have held significance in human culture, and their playing methods have evolved from ancient board games to virtual reality (VR). 

Also, the metaverse offers an immersive visual experience and supports emerging technologies like blockchain, IoT, and 3D visualization. Hence, such trends contribute to the growth of the global market during the forecast period.

Major challenges – 

The privacy and security concerns over the metaverse challenge market growth.  Data privacy and security have been a major concern for metaverse users even though many organizations keep revolutionizing their IT security systems. 

Furthermore, the vast amount of information about users and their environment is collected and processed by the metaverse. The personal data of users can be accessed by metaverse which can pose a threat to privacy. Hence, privacy and security concerns are a major challenge in the global market.

Drivers, Trends, and Challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

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

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the metaverse market between 2023 and 2027
• Precise estimation of the size of the metaverse market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the metaverse 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 market vendors

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Related Reports:

• The metaverse in e-commerce market is estimated to grow at a CAGR of 39.65% between 2022 and 2027. The size of the market is forecast to increase by USD 85,885.22 million. This report extensively covers market segmentation by platform (computer, mobile, and headset), technology (AR and VR, blockchain, mixed reality, and others), and geography (APAC, North America, Europe, South America, and Middle east and Africa). The growing popularity of AR technology is notably driving the market growth.
• The metaverse in healthcare market size is estimated to grow at a CAGR of 34.92% between 2022 and 2027. The metaverse in healthcare market size is forecast to increase by USD 5,624.07 million. This metaverse in healthcare market report extensively covers market segmentation by component (hardware and software), application (medical and surgical trainings, diagnosis and treatments, pre and post-surgery planning, remote monitoring, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)). The advantages of metaverse in healthcare are notably driving the market 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 Device
• 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 ($ billion)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
• 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 market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on Global metaverse market 2017 – 2021 ($ billion)

• 4.2 Device Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Device Segment 2017 – 2021 ($ billion)

• 4.3 Component Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Component Segment 2017 – 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

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 Device

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

• 6.2 Comparison by Device
• Exhibit 32: Chart on Comparison by Device
• Exhibit 33: Data Table on Comparison by Device

• 6.3 VR or AR devices – Market size and forecast 2022-2027 
• Exhibit 34: Chart on VR or AR devices – Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on VR or AR devices – Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on VR or AR devices – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on VR or AR devices – Year-over-year growth 2022-2027 (%)

• 6.4 Computing devices – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Computing devices – Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Computing devices – Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Computing devices – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Computing devices – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Device 
• Exhibit 42: Market opportunity by Device ($ billion)

7 Market Segmentation by Component

• 7.1 Market segments
• Exhibit 43: Chart on Component – Market share 2022-2027 (%)
• Exhibit 44: Data Table on Component – Market share 2022-2027 (%)

• 7.2 Comparison by Component 
• Exhibit 45: Chart on Comparison by Component
• Exhibit 46: Data Table on Comparison by Component

• 7.3 Hardware – Market size and forecast 2022-2027 
• Exhibit 47: Chart on Hardware – Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Hardware – Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Hardware – Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Hardware – Year-over-year growth 2022-2027 (%)

• 7.4 Software – Market size and forecast 2022-2027 
• Exhibit 51: Chart on Software – Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Software – Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Software – Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Software – Year-over-year growth 2022-2027 (%)

• 7.5 Services – Market size and forecast 2022-2027 
• Exhibit 55: Chart on Services – Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Services – Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Services – Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Services – Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Component 
• Exhibit 59: Market opportunity by Component ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027 
• Exhibit 65: Chart on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 67: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 69: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027 
• Exhibit 73: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027 
• Exhibit 77: Chart on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027 
• Exhibit 85: Chart on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 China – Market size and forecast 2022-2027 
• Exhibit 89: Chart on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.10 Germany – Market size and forecast 2022-2027 
• Exhibit 93: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.11 UK – Market size and forecast 2022-2027 
• Exhibit 97: Chart on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.12 Canada – Market size and forecast 2022-2027 
• Exhibit 101: Chart on Canada – Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on Canada – Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 Accenture Plc
• Exhibit 112: Accenture Plc – Overview
• Exhibit 113: Accenture Plc – Business segments
• Exhibit 114: Accenture Plc – Key news
• Exhibit 115: Accenture Plc – Key offerings
• Exhibit 116: Accenture Plc – Segment focus

• 12.4 Animoca Brands Corp. Ltd. 
• Exhibit 117: Animoca Brands Corp. Ltd. – Overview
• Exhibit 118: Animoca Brands Corp. Ltd. – Product / Service
• Exhibit 119: Animoca Brands Corp. Ltd. – Key offerings

• 12.5 ByteDance Ltd.
• Exhibit 120: ByteDance Ltd. – Overview
• Exhibit 121: ByteDance Ltd. – Product / Service
• Exhibit 122: ByteDance Ltd. – Key offerings

• 12.6 Decentraland
• Exhibit 123: Decentraland – Overview
• Exhibit 124: Decentraland – Product / Service
• Exhibit 125: Decentraland – Key offerings

• 12.7 Devden Creative Solutions Pvt. Ltd. 
• Exhibit 126: Devden Creative Solutions Pvt. Ltd. – Overview
• Exhibit 127: Devden Creative Solutions Pvt. Ltd. – Product / Service
• Exhibit 128: Devden Creative Solutions Pvt. Ltd. – Key offerings

• 12.8 GoMeta Inc.
• Exhibit 129: GoMeta Inc. – Overview
• Exhibit 130: GoMeta Inc. – Product / Service
• Exhibit 131: GoMeta Inc. – Key offerings

• 12.9 Infosys Ltd.
• Exhibit 132: Infosys Ltd. – Overview
• Exhibit 133: Infosys Ltd. – Business segments
• Exhibit 134: Infosys Ltd. – Key news
• Exhibit 135: Infosys Ltd. – Key offerings
• Exhibit 136: Infosys Ltd. – Segment focus

• 12.10 Meta Platforms Inc.
• Exhibit 137: Meta Platforms Inc. – Overview
• Exhibit 138: Meta Platforms Inc. – Business segments
• Exhibit 139: Meta Platforms Inc. – Key offerings
• Exhibit 140: Meta Platforms Inc. – Segment focus

• 12.11 Microsoft Corp.
• Exhibit 141: Microsoft Corp. – Overview
• Exhibit 142: Microsoft Corp. – Business segments
• Exhibit 143: Microsoft Corp. – Key news
• Exhibit 144: Microsoft Corp. – Key offerings
• Exhibit 145: Microsoft Corp. – Segment focus

• 12.12 Mobiloitte Technologies 
• Exhibit 146: Mobiloitte Technologies – Overview
• Exhibit 147: Mobiloitte Technologies – Product / Service
• Exhibit 148: Mobiloitte Technologies – Key offerings

• 12.13 NexTech AR Solutions Corp. 
• Exhibit 149: NexTech AR Solutions Corp. – Overview
• Exhibit 150: NexTech AR Solutions Corp. – Business segments
• Exhibit 151: NexTech AR Solutions Corp. – Key offerings
• Exhibit 152: NexTech AR Solutions Corp. – Segment focus

• 12.14 NVIDIA Corp.
• Exhibit 153: NVIDIA Corp. – Overview
• Exhibit 154: NVIDIA Corp. – Business segments
• Exhibit 155: NVIDIA Corp. – Key news
• Exhibit 156: NVIDIA Corp. – Key offerings
• Exhibit 157: NVIDIA Corp. – Segment focus

• 12.15 Queppelin
• Exhibit 158: Queppelin – Overview
• Exhibit 159: Queppelin – Product / Service
• Exhibit 160: Queppelin – Key offerings

• 12.16 Roblox Corp.
• Exhibit 161: Roblox Corp. – Overview
• Exhibit 162: Roblox Corp. – Product / Service
• Exhibit 163: Roblox Corp. – Key offerings

• 12.17 Wilkins Avenue AR
• Exhibit 164: Wilkins Avenue AR – Overview
• Exhibit 165: Wilkins Avenue AR – Product / Service
• Exhibit 166: Wilkins Avenue AR – Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 167: Inclusions checklist
• Exhibit 168: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 169: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 170: Research methodology
• Exhibit 171: Validation techniques employed for market sizing
• Exhibit 172: Information sources

• 13.5 List of abbreviations 
• Exhibit 173: List of abbreviations 

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