Metaverse Market Applications, Types and Forecasts Report 2028

The global metaverse market size reached USD 47.69 Billion in 2020 and is expected to register a revenue CAGR of 43.3% during the forecast period, according to latest analysis by Emergen Research. Rising focus on converging digital and physical worlds through internet and the recent COVID-19 outbreak are expected to support market revenue growth between 2021 and 2028. In addition, increasing emphasis on developing metaverse platforms for education industry will continue to boost revenue growth of the market. 

The report relies on advanced primary and secondary research methodologies to assess information. The data for the study is gathered from reliable and trustworthy sources, ensuring the authenticity and accuracy of the research study. We also employ qualitative and quantitative analysis to deliver a comprehensive and all-encompassing research study on the global Metaverse market. The report also comprises of SWOT analysis, PESTLE analysis, and Porter’s Five Forces Model analysis,  to offer the reader with a complete and all-inclusive study of crucial segments of the global Metaverse market.

Some Key Highlights From the Report

• Software segment is expected to register a substantially rapid revenue CAGR during the forecast period as companies are investing considerable efforts into developing developer-focused gaming platforms that enable users to create games or 3D environments. AI-powered 3D engines enable creation of gaming content in real-time, allowing for an diverse range of situations and making games highly engaging.
• Fashion segment is expected to register a significantly robust revenue growth rate over the forecast period due to rising development of virtual runway shows platforms like IMVU. From partnering with online community artists to buying avatar clothing, IMVU's virtual runway has received much interest as more fashion businesses identify immersive experiences as an important part of the business strategy. Animal Crossing, which is a game from Nintendo Co., Ltd., has brands such as Anna Sui, Valentino, and Sandy Liang design exclusive garments for metaverse.
• North America is expected to register a substantially robust revenue growth rate over the forecast period due to major presence of companies such as Facebook, Inc., Nvidia Corporation, Epic Games, Inc., and Nextech AR Solutions Corp. in the US and Canada focusing on develop metaverse platforms.
• Major companies in the market report include Facebook, Inc., Tencent Holdings Ltd., ByteDance Ltd., NetEase, Inc., Nvidia Corporation, Epic Games, Inc., Roblox Corporation, Unity Technologies, Inc., Lilith Games, and Nextech AR Solutions Corp.
• The concept has gained robust traction, and on 29 October 2021, Facebook Inc. announced that the company would henceforth (29 October 2021) be known as Meta Platforms Inc., or ‘Meta’ for short. The company would be committed to developing the immersive digital world known as the metaverse.
• In August 2021, Nextech AR Solutions Corp. announced completion of its acquisition of Arway Ltd., which is a spatial computing firm based in the United Kingdom. This acquisition offers Nextech AR a spatial mapping platform that is pivotal to the development of mini-metaverses, which the business is eagerly pursuing.

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/metaverse-market

Emergen Research has segmented global metaverse on the basis of component, platform, offerings, technology, application, end-use, and region:

• Component Outlook (Revenue, USD Billion; 2018–2028)
• Hardware
1. Displays
2. eXtended Reality (XR) Hardware
1. Haptic Sensors & Devices
2. Smart Glasses
3. Omni Treadmills
3. AR/VR Headsets
• Software
1. Asset Creation Tools
2. Programming Engines

• Platform Outlook (Revenue, USD Billion; 2018–2028)
  • Desktop
  • Mobile

• Offerings Outlook (Revenue, USD Billion; 2018–2028)
  • Virtual Platforms
  • Asset Marketplaces
  • Avatars
  • Financial Services

• Technology Outlook (Revenue, USD Billion; 2018–2028)
  • Blockchain
  • Virtual Reality (VR) & Augmented Reality (AR)
  • Mixed Reality (MR)

• Application Outlook (Revenue, USD Billion; 2018–2028)
  • Gaming
  • Online Shopping
  • Content Creation
  • Social Media
  • Conference
  • Virtual Runway Shows
  • Aircraft Maintenance
  • Others

• End-use Outlook (Revenue, USD Billion; 2018–2028)
  • Fashion
  • Media & Entertainment
  • Education
  • Aerospace & Defence
  • Others