A new Report by Delvens, titled "Metaverse Market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global Metaverse Market size is projected to reach a CAGR of 41.6% from 2023-2030.
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North America to Dominate the Market
· The metaverse industry was dominated by North America in 2021 and is expected to retain its position during the forecast period.
· The growth is due to its high concentration of metaverse technology vendors such as Meta Platforms, Inc. (formerly known as Facebook, Inc.) and Roblox Corporation, which is expected to drive the market for metaverse technology within the region during the forecast period.
Competitive Landscape of Metaverse Market
· Meta Platforms, Inc.
· Epic Games, Inc.
· Nvidia Corporation
· Tencent Holdings Ltd
· ByteDance Ltd.
· Lilith Games
· Unity Technologies, Inc.
· Roblox Corporations
· NetEase, Inc.
· Nextech AR Solutions Corp
· Valve
· Accenture
· Adobe
· HPE
· Deloitte
· Ansys
· Autodesk
· Intel
· Tech Mahindra
· Sony
· Apple
· Panasonic
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Recent Developments
· In January 2022, The Sandbox announced a partnership with Warner Music Group to launch the first music-themed world in The Sandbox metaverse. Warner Music Group (WMG) would be taking its initial steps into the metaverse and NFT sector with this alliance.
· In November 2021, Tencent Holdings, Ltd announced that it has partnered with The Asian Institute of Digital Finance. The companies will collaborate in the areas of education, research, and entrepreneurship to support Asia's fintech industry.
Key Findings of Metaverse Market
· The product segment is further fragmented into Hardware, Software, and Services. The hardware segment accounted for the largest share and is anticipated to dominate the market during the forecast period. The growth is due to a growing focus among firms on producing products that provide a better user experience and enable more extended user immersion. To improve the realism of virtual worlds, companies are also working to develop more advanced hardware, such as VR/AR headsets, haptic devices, and sensors.
· The platform segment is further fragmented into Desktop, Mobile, and Headsets. The desktop segment accounted for the largest revenue share and is anticipated to dominate the market during the forecast period. Computers used to be the primary portal into the metaverse, but with the introduction of smartphones and wireless networks, that has changed. Virtual desktop is a program that allows users to utilize the computer in virtual reality using the HTC Vive, Oculus Rift / Rift S, WMR headsets, and Valve Index. On a massive virtual screen, users may surf the web, view movies on Netflix, and even play games.
· The offering segment is further fragmented into Virtual Platforms, Asset Marketplaces, Avatars, and Financial Services. The asset marketplace segment is expected to grow at the highest CAGR. The growth is due to the increased investments made in bitcoins, NFTs, Ethereum, and other cryptocurrencies. Because of the expansions in virtual metaverse platforms, the virtual platforms segment is expected to account for a significant revenue share during the forecast period.
· The technology segment is further fragmented into Blockchain, Virtual Reality (VR) & Augmented Reality (AR), Mixed Reality (MR), and Others. Augmented reality (AR) and virtual reality (VR) technology contributed to the largest revenue share. AR and VR technology is being utilized in the gaming industry to make the game more realistic and to provide a better gaming experience. However, the demand for VR and AR devices is expected to exhibit substantial growth in the coming years. Thus, the segment is predicted to contribute significantly to the overall Metaverse industry. The demand for VR and AR devices is expected to rise owing to the rising gaming industry.
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In addition to the market data for Metaverse Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirement.
Reasons to Acquire
· Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
· Gain authentic and granular data access for Metaverse Market so as to understand the trends and the factors involved in changing market situations.
· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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