The metaverse concept is captivating as it is a fully immersive virtual world created using advanced technologies such as augmented reality, virtual reality, and mixed reality. This platform offers an unparalleled digital experience that enables users to engage in many activities, including playing games, conducting transactions, socializing with others, buying and selling virtual property, accessing a vast digital content library, and attending virtual events. The metaverse is truly a game-changer in the world of technology and has the potential to revolutionize the way we interact with the digital world.
The Global Metaverse Gaming market research report published by market insight reports discovers the current outlook in global and key regions from the viewpoint of Major Players, Countries, Product Types, and end industries. This report studies top players in the global market and divides the Market into several parameters.
This Metaverse Gaming Market research report pinpoints the competitive landscape of industries to understand the competition at the International level. This report study describes the projected growth of the global market for approaching years from 2024 to 2030.
This research report has been accumulated based on static and dynamic views of the businesses.
The global metaverse gaming market is anticipated to grow from USD 90.58 Billion in 2023 to USD 874.36 Billion by 2030, at a CAGR of 38.25% during the forecast period.
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Metaverse Gaming Market: Growth Drivers
Growing trend of accessing online activities as a means of escapism to drive market growth
The global metaverse in gaming market is expected to grow owing to the increasing inclination of the general population to shift to online measures as a means to avoid the harsh realities of life or escape unfriendly situations in the real world. This shift has especially picked up after COVID-19 during which more people became accustomed to the confines of their homes.
A growing rate of people are becoming more reclusive and do not prefer to socialize more in real life. Instead, they resort to virtual worlds where they have more control over their environment as opposed to the practical world.
In April 2023, Japanese officials reported that around 1.5 million people in the developed island have been living in isolation since COVID-19. The main reasons for these statistics are related to challenging relationship issues or work-related problems.
Growing number of products launched to push the market revenue further
The metaverse in gaming industry is expected to come across higher growth as the market players are aggressively launching new products and trying to improve the overall experience for their consumers. For instance, in October 2022, Meta Platforms announced the launch of the next generation of their highly popular VR gaming headset.
It is called Meta Quest Pro which is considered as one of the first few highly advanced VR headsets that is built to explore endless realities in the virtual world. In May 2023, Lydian.world, a new entry in the market, announced the addition of a new feature in its metaverse gaming set where players could start building units on their virtual plots.
The Leading Players in the Global Metaverse Gaming Market:
Roblox Corporation, Tencent Holdings Ltd., Epic Games, Magic Leap Inc., Lilith Games, Decenrtraland, The Sandbox, Microsoft, Unity, NVIDIA, Autodesk, Oculus, Meta Horizon, Nazara Technologies, Google, Animoca Brands Corporation Limited,, Tencent Holdings Limited,, Metaplatforms, Inc.,, The Sandbox, Kakao Corporatio
Key Developments in the Metaverse Gaming Market:
- The Sandbox has teamed up with TOEI ANIMATION and Minto, Inc. to bring IP-based experiences to The Sandbox Metaverse. TOEI ANIMATION is a well-known Japanese animation pioneer responsible for producing popular shows like “DRAGON BALL,” “SAILORMOON,” and “ONE PIECE.”
- Nextech3D.AI, a Generative AI-powered 3D model supplier for major retailers, has appointed Hareesh Achi as the new Head of Product Operations. With over a decade of experience at industry giants MSFT & META, Hareesh will enhance Nextech3Dai’s productivity capabilities and profitability through operational efficiency.
Segmentation Analysis of the market:
The market is segmented based on the type, product and application. The segmentation helps to deliver a precise explanation of the market.
Metaverse Gaming Market by Component
Hardware
Software
Metaverse Gaming Market by Device
Mobile
VR Headsets
PCs
Gaming Consoles
Metaverse Gaming Market by Technology
Non-Fungible Token (NFT)
Blockchain
Virtual Reality
Augmented Reality
Mixed Reality
Extended Reality
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Regional Analysis for Metaverse Gaming Market:
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), and market share and growth rate of the Metaverse Gaming Market in these regions, from 2024 to 2030 (forecast) covering:
Europe, China, Japan, Southeast Asia, India, North America (USA, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia–Pacific (China, Japan, Korea, India, and Southeast).
North America to generate the highest growth during the projected period
The global metaverse in gaming market will be led by North America during the forecast period with the US acting as the leading region. The higher acceptance rate of online gaming tools strengthened by growing awareness about new technologies introduced in digital gaming experiences such as metaverse are the main reasons for regional expansion.
A recent survey indicated that around 71 million American citizens are currently using virtual reality at least once a month.
Important Features that are under Offering and Key Underlines of the Reports:
– Detailed overview of the market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application,.,
– Historical, Current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of the Metaverse Gaming Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2029)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Table of Contents
– Market Summary
– Economic Impact Competition Analysis by Players
– Production, Revenue (Value) by geographical segmentation
– Metaverse Gaming Market Size by Type and Application
– Regional Market Status and Outlook
– Metaverse Gaming Market Analysis and Outlook
– Market Forecast by Region, Type, and Application
– Cost Investigation, Market Dynamics
– Marketing Strategy comprehension, Distributors and Traders
– Market Effect Factor Analysis
– Research Finding/ Conclusion
– Appendix
Finally, the Metaverse Gaming Market report is a believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, market development rate and figure, and so on.
Metaverse Gaming industry report additionally Presents new task SWOT examination, speculation attainability investigation, and venture return investigation.
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