The global metaverse market size was USD 48.12 Billion in 2020 and is expected to register a revenue CAGR of 44.1% during the forecast period. Rising demand for virtual assets, increasing usage of Non-Fungible Tokens (NFTs) to trade digital assets, growing focus on developing metaverse platforms for diverse applications by tech giants, and rapid development of Decentralized Finance (DeFi) applications are among some of the key factors expected to continue to drive market revenue growth during the forecast period.
Key companies profiled - Facebook, Inc., Tencent Holdings Ltd., ByteDance Ltd., NetEase, Inc., Nvidia Corporation, Epic Games, Inc., Unity Technologies, Inc., Roblox Corporation, Lilith Games, and Nextech AR Solutions Corp.
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The information and communication technology sector is expected to observe a robust revenue growth over the forecast period. Factors such as technological advancements in AI and robotics, increasing innovations, growing need for high data security, large data management are fueling market development. Availability of variety of devices such as computers, smartphones, softwares and growing usage of internet is boosting overall growth of the information and communication technology. In addition, growing adoption of IOT and cloud based systems, increasing demand for technologically advanced devices, and change in consumer preference are some significant factors fueling market growth.
Competitive landscape of global Metaverse market is quite fragmented with regional and global key players. They are often involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to sustain their market position and expand their product portfolio.
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Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The global market is further segmented into Technology and application:
By Technology:
- Virtual Reality (VR) Augmented Reality (AR)
- Mixed Reality (MR)
By Application:
- Social Media
- Gaming
- Aircraft Maintenance
- Conference
- Content Creation
- Online Shopping
- Virtual Runway Shows
Key questions addressed in the global Metaverse market report:
- What revenue CAGR is the global Metaverse market projected to register throughout the forecast period?
- Which leading companies are operating in the global Metaverse market?
- Which region is expected to account for largest revenue growth over the forecast period?
- What are the key drivers that are expected to fuel the global market?
- What are the key outcomes of Porter’s Five Force analysis of the global Metaverse market?
- What are the key restraints expected to hamper global market growth?
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