What happened to the metaverse, the futuristic promise that a few years ago became the big bet for several companies? The study Metaverse: How it’s shaping up, conducted by Statista, reveals that global revenues related to this industry will grow from $17.5 billion to $54.5 billion by 2028, representing a 212% increase in just five years.
This jump will not be homogeneous: it will depend on the evolution of virtual reality hardware, the popularization of mobile augmented reality experiences, and advances in sectors such as video games, e-commerce, and digital education.
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How will the metaverse market evolve by 2028?
The report indicates that the growth of the metaverse is supported by several pillars. First, software services and business solutions represent the largest segment, accounting for more than 40% of revenues in 2023. This is followed by entertainment and video games, which act as the most common entry point to these immersive experiences. Finally, hardware—particularly virtual and augmented reality headsets—provides an essential component for market scalability.
The compound annual growth rate is estimated at 25.5% between 2023 and 2028, making the metaverse one of the digital ecosystems with the greatest potential within the tech industry, comparable only to the rise of artificial intelligence or the cloud in its time.
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Why are video games driving the metaverse?
Although the concept of the metaverse is associated with the idea of “persistent virtual worlds,” the true economic engine lies in gaming. According to Statista, the metaverse gaming segment reached $20.8 billion in 2024 and could exceed $168 billion by 2030.
The case of Roblox is exemplary: with more than 111 million daily active users in 2025, it has become one of the most influential platforms for social interaction and content creation. There, users not only play but also socialize, attend virtual concerts, create worlds, and, in many cases, generate income through internal digital economies.
What role do commerce and immersive e-commerce play?
E-commerce within the metaverse is already a growing reality. In 2024, this segment represented $30.5 billion, and projections indicate it will add nearly $180 billion more by 2030.
Fashion, entertainment, and consumer goods brands are experimenting with virtual showrooms, digital fitting rooms, and 3D shopping experiences that integrate secure payments and mobile compatibility. In this regard, the rise of mobile augmented reality, which will reach 1.19 billion users by 2028, will be key to democratizing access.
How do consumers perceive the metaverse?
One of the report’s most relevant findings is the disparity in enthusiasm and awareness about the metaverse. In countries like India (36%) and Mexico (28%), people show much more interest than in developed markets such as the United States (17%) or Japan (7%).
Moreover, the study reveals that familiarity with the term “metaverse” remains low: as of March 2024, only one in ten U.S. adults said they were very familiar with the concept, and 43% associated it directly with Facebook or Instagram. This gap between expectation and understanding poses a challenge for companies seeking to expand their presence in this environment.
What factors could accelerate adoption?
In the U.S. and the U.K., surveys show that users especially value:
- High-quality graphics and visuals (54%)
- Social features to interact with others (47%)
- Smooth, frictionless experiences (44%)
Likewise, Statista identifies that reducing hardware costs, expanding content offerings, and improving privacy and security guarantees are critical elements for boosting adoption.
What happened to NFTs and metaverse cryptocurrencies?
The boom of tokens and NFTs linked to the metaverse peaked in 2021, with projects such as Decentraland (MANA). However, by 2024, investment in Web3 gaming and metaverse projects fell to $1.8 billion, 38% less than the previous year.
This reflects a market correction: while speculative assets lost momentum, the focus shifted to more tangible experiences such as virtual concerts, learning events, and collaborative environments.
Which regions will lead the metaverse business?
- Japan: The market is projected to grow from ¥275 billion in 2024 to ¥1.87 trillion in 2028, focusing on education and entertainment.
- South Korea: Stands out for its adoption of virtual influencers and the development of Web3-powered video games.
- Latin America: Mexico and Brazil appear as the markets with the highest citizen enthusiasm, representing an opportunity for brands seeking to innovate in digital experiences.
Is the metaverse still a viable bet for brands?
Despite initial skepticism and the slowdown in crypto investment, Statista’s data indicates that the metaverse continues to consolidate as a high-growth space in key sectors:
- Social gaming, already the main entry point.
- Immersive e-commerce, with billion-dollar projections toward 2030.
- Education and remote work, where virtual environments facilitate collaboration.
- Live events and experiences, bringing users to concerts, exhibitions, and fairs without leaving home.
For brands, the key lies in focusing on accessible, social, and visually rich experiences rather than fully immersive worlds that still lack mass adoption.
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