Metaverse Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Metaverse Market
The global metaverse market size was valued at USD 234.04 billion in 2022, and the market is now projected to grow from USD 416.02 billion in 2023 to USD 3409.29 billion by 2027, exhibiting a CAGR of 69.2% during the forecast period (2023-2027).
The COVID 19 pandemic, led to sudden inclination towards the online video gaming and also online video conferencing platforms. The global metaverse market witnessed an increase in growth rate rate of 3.3% in 2020 as that of 2.6% in 2019. This surge can be credited to an increase in adoption of virtual gaming and also online shopping. The pandemic thus positively impacted the global metaverse market growth.
The surging call for advanced VR gadgets globally from individuals and small, medium, and even large-scale entities will contribute in driving the global metaverse market share. Moreover, increasing investments in ecommerce and retail industries along with rising presence of products in the virtual environment is said to give boost to the metaverse market growth.
Surging expenditures by consumers on virtual concerts and other similar events in the media and entertainment sector is the latest trend in the metaverse industry. As per IBEF (India Brand Equity Foundation Organization), the valuation of media and entertainment industry was close to USD 19 billion.
Comprehensive Analysis of Metaverse Market
The Metaverse marketplace is growing significantly due to its market segmentation. These market segmentations are further bifurcated into component analysis, platform analysis, application analysis, and region. Based on component analysis, software/platform segment will give highest CAGR. As per the platform analysis, the desktop segment captures major marketplace share. Whereas, gaming segment dominates the application analysis.
Based upon the regional analysis, the North American region dominates the global Metaverse marketplace. The region’s metaverse industry is rapidly growing owing to rising number of investments in metaverse by the dominant entities like, NVIDIA, Roblox, Meta and others to expand the market existence. Meta (U.S.) invested about USD 50 million into its global R&D in September 2021.
The key metaverse industry dominators are investing on advanced technological solutions like, machine learning (MI), cloud, artificial intelligence (AI) and others in order to improve the quality of their current services. These corporations are also actively participating in mergers and acquisitions to expand their marketplace share. These companies include, Tencent Holdings Ltd. (China), NVIDIA Corporation (U.S.), Roblox Corporation (U.S.), Microsoft Corporation (U.S.), Globant (Luxembourg), Queppelin (India), Alibaba Cloud (U.S.), Netease Inc. (China), Magic Leap, Inc. (U.S.).
In January 2023, the International Organization for Public-Private Cooperation located in Geneva, agreed to collaborate along with Accenture and Microsoft. This collab was to build a Global Collaboration Village the main focus of the said metaverse platform is to promote virtual multistakeholder cooperation. International Organization for Public-Private cooperation is also referred to as World Economic Forum (WEF).
Segmentation Table
Metaverse Market Scope
Study Period 2019-2027
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2027
Historical Period 2019-2021
Unit Value (USD Billion)
Growth Rate CAGR of 69.2% from 2023 to 2027
Segmentation By Component, Platform, Application, and Region
By ComponentHardware
Software/Platform
Services
By Platform Desktop
Mobile
Console
Others
By ApplicationGaming
Healthcare
Education and Training
Social Media and Entertainment
Travel and Tourism
Real Estate
Banking and Finance
Others (Remote Working)
By Region North America (By Component, Platform, Application, Country)
- U.S.
- Canada
- Mexico
Europe (By Component, Platform, Application, Country)
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Benelux
- Nordics
- Rest of Europe
Rest of the World (By Component, Platform, Application, Country)
- Asia Pacific
- South America
- Middle East & Africa
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Prevalence of Heart Failure, by Region, 2022/2023
- 4.2. Number of Cardiac Surgeries, By Region/Country, 2022/2023
- 4.3. New Product Launches, By Key Players
- 4.4. Key Industry Developments (Mergers, Acquisitions, Partnerships; etc.)
- 4.5. Impact of COVID-19 on the Market
- 5. Global Ventricular Assist Device Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Market Analysis, Insights and Forecast – By Product
- 5.1.1. Left Ventricular Assist Device
- 5.1.2. Right Ventricular Assist Device
- 5.1.3. Bi-Ventricular Assist Device
- 5.2. Market Analysis, Insights and Forecast – By Type of Flow
- 5.2.1. Pulsatile Flow
- 5.2.2. Continuous Flow
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Bridge to Transplant (BTT)
- 5.3.2. Bridge to Candidacy (BTC)
- 5.3.3. Destination Therapy (DT)
- 5.3.4. Bridge to Recovery (BTR)
- 5.4. Market Analysis, Insights and Forecast – By End-user
- 5.4.1. Hospitals & ASCs
- 5.4.2. Specialty Clinics & Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America
- 5.5.5. Middle East & Africa
- 6. North America Ventricular Assist Device Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By Product
- 6.1.1. Left Ventricular Assist Device
- 6.1.2. Right Ventricular Assist Device
- 6.1.3. Bi-Ventricular Assist Device
- 6.2. Market Analysis, Insights and Forecast – By Type of Flow
- 6.2.1. Pulsatile Flow
- 6.2.2. Continuous Flow
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Bridge to Transplant (BTT)
- 6.3.2. Bridge to Candidacy (BTC)
- 6.3.3. Destination Therapy (DT)
- 6.3.4. Bridge to Recovery (BTR)
- 6.4. Market Analysis, Insights and Forecast – By End-user
- 6.4.1. Hospitals & ASCs
- 6.4.2. Specialty Clinics & Others
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.1.1. By Product
- 6.5.2. Canada
- 6.5.2.1. By Product
- 7. Europe Ventricular Assist Device Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By Product
- 7.1.1. Left Ventricular Assist Device
- 7.1.2. Right Ventricular Assist Device
- 7.1.3. Bi-Ventricular Assist Device
- 7.2. Market Analysis, Insights and Forecast – By Type of Flow
- 7.2.1. Pulsatile Flow
- 7.2.2. Continuous Flow
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Bridge to Transplant (BTT)
- 7.3.2. Bridge to Candidacy (BTC)
- 7.3.3. Destination Therapy (DT)
- 7.3.4. Bridge to Recovery (BTR)
- 7.4. Market Analysis, Insights and Forecast – By End-user
- 7.4.1. Hospitals & ASCs
- 7.4.2. Specialty Clinics & Others
- 7.5. Market Analysis, Insights and Forecast – By Country/Sub-Region
- 7.5.1. Germany
- 7.5.1.1. By Product
- 7.5.2. France
- 7.5.2.1. By Product
- 7.5.3. U.K.
- 7.5.3.1. By Product
- 7.5.4. Italy
- 7.5.4.1. By Product
- 7.5.5. Spain
- 7.5.5.1. By Product
- 7.5.6. Scandinavia
- 7.5.6.1. By Product
- 7.5.7. Rest of Europe
- 7.5.7.1. By Product
- 8. Asia Pacific Ventricular Assist Device Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By Product
- 8.1.1. Left Ventricular Assist Device
- 8.1.2. Right Ventricular Assist Device
- 8.1.3. Bi-Ventricular Assist Device
- 8.2. Market Analysis, Insights and Forecast – By Type of Flow
- 8.2.1. Pulsatile Flow
- 8.2.2. Continuous Flow
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Bridge to Transplant (BTT)
- 8.3.2. Bridge to Candidacy (BTC)
- 8.3.3. Destination Therapy (DT)
- 8.3.4. Bridge to Recovery (BTR)
- 8.4. Market Analysis, Insights and Forecast – By End-user
- 8.4.1. Hospitals & ASCs
- 8.4.2. Specialty Clinics & Others
- 8.5. Market Analysis, Insights and Forecast – By Country/Sub-Region
- 8.5.1. China
- 8.5.1.1. By Product
- 8.5.2. Japan
- 8.5.2.1. By Product
- 8.5.3. India
- 8.5.3.1. By Product
- 8.5.4. Australia
- 8.5.4.1. By Product
- 8.5.5. Southeast Asia
- 8.5.5.1. By Product
- 8.5.6. Rest of Asia Pacific
- 8.5.6.1. By Product
- 9. Latin America Ventricular Assist Device Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast – By Product
- 9.1.1. Left Ventricular Assist Device
- 9.1.2. Right Ventricular Assist Device
- 9.1.3. Bi-Ventricular Assist Device
- 9.2. Market Analysis, Insights and Forecast – By Type of Flow
- 9.2.1. Pulsatile Flow
- 9.2.2. Continuous Flow
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Bridge to Transplant (BTT)
- 9.3.2. Bridge to Candidacy (BTC)
- 9.3.3. Destination Therapy (DT)
- 9.3.4. Bridge to Recovery (BTR)
- 9.4. Market Analysis, Insights and Forecast – By End-user
- 9.4.1. Hospitals & ASCs
- 9.4.2. Specialty Clinics & Others
- 9.5. Market Analysis, Insights and Forecast – By Country/Sub-Region
- 9.5.1. Brazil
- 9.5.1.1. By Product
- 9.5.2. Mexico
- 9.5.2.1. By Product
- 9.5.3. Rest of the LATAM
- 9.5.3.1. By Product
- 10. Middle East & Africa Ventricular Assist Device Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Market Analysis, Insights and Forecast – By Product
- 10.1.1. Left Ventricular Assist Device
- 10.1.2. Right Ventricular Assist Device
- 10.1.3. Bi-Ventricular Assist Device
- 10.2. Market Analysis, Insights and Forecast – By Type of Flow
- 10.2.1. Pulsatile Flow
- 10.2.2. Continuous Flow
- 10.3. Market Analysis, Insights and Forecast – By Application
- 10.3.1. Bridge to Transplant (BTT)
- 10.3.2. Bridge to Candidacy (BTC)
- 10.3.3. Destination Therapy (DT)
- 10.3.4. Bridge to Recovery (BTR)
- 10.4. Market Analysis, Insights and Forecast – By End-user
- 10.4.1. Hospitals & ASCs
- 10.4.2. Specialty Clinics & Others
- 10.5. Market Analysis, Insights and Forecast – By Country/Sub-Region
- 10.5.1. GCC
- 10.5.1.1. By Product
- 10.5.2. South Africa
- 10.5.2.1. By Product
- 10.5.3. Rest of Middle East & Africa
- 10.5.3.1. By Product
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis (2023)
- 11.2. Company Profiles
- 11.2.1. Berlin HeartOverview
- 11.2.1.1. Products & Services
- 11.2.1.2. SWOT Analysis
- 11.2.1.3. Recent Developments
- 11.2.1.4. Strategies
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2. ABIOMED
- 11.2.2.1. Products & Services
- 11.2.2.2. SWOT Analysis
- 11.2.2.3. Recent Developments
- 11.2.2.4. Strategies
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3. Abbott
- 11.2.3.1. Products & Services
- 11.2.3.2. SWOT Analysis
- 11.2.3.3. Recent Developments
- 11.2.3.4. Strategies
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4. Jarvik Heart, Inc.
- 11.2.4.1. Products & Services
- 11.2.4.2. SWOT Analysis
- 11.2.4.3. Recent Developments
- 11.2.4.4. Strategies
- 11.2.4.5. Financials (Based on Availability)
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