The global metaverse market is anticipated to attain a CAGR of ~45% over the forecast period, i.e., 2022 – 2031. The market is divided by technology into the blockchain, VR & AR, mixed reality, and others, out of which, the blockchain segment is anticipated to hold a substantial share in the global metaverse market over the forecast period owing to the successful deployment of the blockchain technology for cryptocurrency. Moreover, blockchain technology provides high security from cyber-attacks and hacking, as a change in one block can hamper the entire chain, which is another major factor estimated to boost the segment growth.
Research Nester published a report titled “Metaverse Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global metaverse market in terms of market segmentation by component, platform, technologies, end-user, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global metaverse market is estimated to grow on the back of the increasing amalgamation of digital and physical worlds through the internet. Along with this, the growing demand for metaverse to purchase digital assets using cryptocurrency is further estimated to boost market growth. Furthermore, the growing adoption of virtual reality and augmented reality amongst the people is expected to boost market growth.
On the basis of geographical analysis, the global metaverse market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North American region is anticipated to gain the largest market share throughout the forecast period, on the back of the high research and development investment. According to the data from the World Bank, 2.833% of the total GDP of the United States was spent on R&D activities, in 2018. Additionally, the presence of various key players in the region is also estimated to boost market growth.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Growing Investment for Development of Advanced Technologies to Boost the Market Growth
The growing investment in technical R&D activities is anticipated to boost the market growth, as metaverse is expected to be the next big development in the digital world. Moreover, various industry giants are anticipated to invest in the development of the metaverse, which will further propel market growth.
However, threats of cybercrime and the low availability of advanced technology in developing regions are expected to operate as a key restraint to the growth of the global metaverse market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global metaverse market which includes company profiling of Meta Platforms, Inc., Hyperlink Info System, Tencent Holdings Ltd., Infosys Limited, Zensar Technologies Limited, Accenture plc, and Net Ease Inc., among others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global metaverse market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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