Global Metaverse Market 2024-2028
Technavio has been monitoring the metaverse market and is forecast to grow by USD 3920.2 bn during 2023-2028, accelerating at a CAGR of 63.64% during the forecast period. Our report on the metaverse market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for AR and VR technology, growing smartphone penetration and use of 5G, and rise of blockchain as a service.
Technavio's metaverse market is segmented as below:
By Device
- VR or AR devices
- Computing devices
By Component
By Geography
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the growing number of product launches as one of the prime reasons driving the metaverse market growth during the next few years. Also, rising consumer adoption of online gaming and rising consumer spending across virtual concerts, events, and others will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the metaverse market covers the following areas:
- Metaverse market sizing
- Metaverse market forecast
- Metaverse market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading metaverse market vendors that include Accenture Plc, Active Theory LLC, Animoca Brands Corp. Ltd., ByteDance Ltd., CL Educate Ltd., Decentraland Foundation, 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., NVIDIA Corp., Queppelin, Roblox Corp., Tencent Holdings Ltd., Unity Technologies Inc., and Wilkins Avenue AR. Also, the metaverse market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.