Metaverse market size to grow by USD 1,152.35 billion between 2022 and 2027; Growth driven by increasing smartphone penetration and the use of 5G – Technavio

NEW YORK, April 6, 2023 /PRNewswire/ — The latest report on the metaverse market estimates that the market will register an incremental growth of USD 1,152.35 billion, at a CAGR of 40.06% between 2022 and 2027. The market is driven by the increasing smartphone penetration and the use of 5G. The rapid adoption of smartphones at home and workplaces has created a demand for 5G services. It has also increased the number of online shoppers and social media users. Thus, with the increased adoption of smartphones, the demand for different apps and online shopping is expected to rise. Also, the increasing availability of 5G will evoke businesses such as e-commerce and finance businesses to adopt advanced technologies, including metaverse, to enhance the experience of users. All these factors will drive the growth of the market during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request a Sample Report 

Metaverse Market 2023-2027: Vendor Analysis

The global metaverse market is fragmented with the presence of many vendors. Vendors compete based on several factors, such as quality, price, service, brand image, distribution, and marketing. Moreover, several vendors are focusing on acquiring smaller brands to increase their market presence. Most vendors are innovating their existing products or introducing new product lines to sustain the market competition. The market is subjected to rapidly changing consumer demands and preferences. Changing consumer buying pattern affects vendor performance in the market. Also, changes in consumer preferences, global and regional economic conditions, and various other demographic trends will affect vendor performance.

Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Some of the key players covered in the report include:

• 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.
• Decentraland – The company offers Worlds for personal 3D space in the metaverse.
• Active Theory LLC
• CL Educate Ltd
• 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.

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Metaverse Market 2023-2027: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The soft skills training market report covers the following areas:

Metaverse Market 2023-2027: Key Trend

Rising consumer adoption of online gaming will further propel the growth of the market. Metaverse is backed by emerging technologies such as blockchain, IoT, and 3D visualization. These help in creating an immersive visual experience for end-users in the gaming industry. Many online gamers that played multiplayer video games are increasingly gravitating toward the metaverse. The metaverse engages gamers by creating a virtual environment that is a digital replication of the real world. With the increasing use of advanced gaming technologies, changing consumer entertainment choices, and rising income levels, the market is anticipated to expand in the gaming sector. This trend will positively influence the growth of the market during the forecast period.

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Metaverse Market 2023-2027: Segmentation

• Device 
• VR or AR Devices
• Computing Devices

The market growth in the VR or AR devices segment will be significant during the forecast period. The segment includes the use of headsets, smart glasses, and lenses for interaction in the metaverse platform. Factors such as new product launches and the rising adoption of AR/VR in various applications are driving the growth of the segment. In addition, new product launches and acquisitions by vendors to expand their market presence will positively influence segment growth.

The hardware segment accounted for the maximum growth in the market in 2022. The increasing adoption of AR/VR headsets, smart glasses, and lenses is driving the growth of the segment. The segment will also be driven by the increased use of smartphones and other devices for financial transactions.

• Geography 
• North America
• Europe
• APAC
• South America
• Middle East and Africa

North America will account for 39% of the market growth during the forecast period. The region is home to several prominent vendors such as Meta Platforms, Inc., NVIDIA Corp., and Microsoft Corp. In addition, factors such as rising investments in AR technologies, adoption of technologically advanced applications among consumers, and increased R&D in the metaverse are driving the growth of the regional market.

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Metaverse Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist metaverse market growth during the next five years
• Estimation of the metaverse market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the metaverse market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details 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 forecasted to increase by USD 85,885.22 million. The market is segmented 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 metaverse in entertainment market is estimated to grow at a CAGR of 9.07% between 2022 and 2027. The size of the market is forecasted to increase by USD 33,323.31 million. The market is segmented by end-user (film production, music labels, OTT platforms, television broadcasters, and others), component (hardware, software, and services), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

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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

• 3.4 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

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

11 Vendor Landscape

• 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

• 13.2 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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