Indonesia Metaverse Market Intelligence and Future Growth Dynamics Databook – 100+ KPIs Covering Market Size by Sector X Use cases X Technology, Business and Consumer Spend, NFT Spend - Q1 2023

Report Description

According to TechInsight360, Metaverse industry in Indonesia is expected to grow by 38.0% on an annual basis to reach US$9,042.0 million in 2023.

The Metaverse industry is expected to grow steadily over the forecast period, recording a CAGR of 30.7% during 2023-2030. The Metaverse Spend Value in the country will increase from US$6,553.2 million in 2022 to reach US$29,947.5 million by 2030.

The metaverse ecosystem has been growing rapidly in Indonesia amid the rising interest in emerging technology. Both government entities, as well as private corporations, have launched several different metaverse projects to support the digital economy in the country. The resulting investment in the sector is driving industry growth in Indonesia and the trend is expected to further continue from the short to medium-term perspective.

From promoting local businesses and products in the metaverse to offering shopping capabilities in the virtual world, many innovative use cases have emerged in the Indonesian metaverse market in 2022. Investor interest is also growing in the sector, as a homegrown metaverse builder raised approximately US$29 million through a public offering. As both public and private organizations continue to drive investment in the sector, TechInsight360 expects the metaverse industry to record robust growth over the next three to four years in the country.

Indonesia utilizes the G20 Summit as a launchpad to showcase its metaverse capabilities to the global leaders

Indonesia has been betting big on the metaverse sector by undertaking several innovative projects in the virtual world. To showcase its abilities and development in the metaverse sector to leaders from around the world, the country is using the G20 Summit as the launchpad. For instance,
• In November 2022, PT Bank Negara Indonesia (BNI), the central bank of Indonesia, showcased its immersive banking capabilities to the global leaders at the G20 Summit. The central bank introduced its Go Global digital banking solution through the metaverse channel. Furthermore, BNI Mobile Banking, BNI Xpora, and BNI Direct were among the other services that were presented to the global leaders informatively in the metaverse.
• At the G20 Summit, Indonesia also unveiled its first metaverse city Jagat Nusantara, the future capital of the country. Notably, Jagat is a metaverse-based social platform that is dedicated to offering citizens an immersive and interactive experience. Notably, every firm that is planning to have a place in Nusantara will also get a place in the virtual world. Going forward, the virtual city also plans to expand its reach globally and is expected to build a shared economy ecosystem.

The launch of these innovative projects shows that Indonesia believes in the prospects of the metaverse and is open to collaborating with global partners to further drive development in the sector. Consequently, TechInsight360 expects Indonesia to undertake more innovative metaverse projects with global partners over the next three to four years.

Firms are entering into strategic collaborations to launch innovative metaverse projects in Indonesia.

Along with government entities, private corporations have also found interest in the metaverse market. To launch innovative solutions, private firms are entering into strategic collaborations with tech players in Indonesia. For instance,
• In October 2022, PT Solusi Sinergi Digital Tbk, a digital company based in Indonesia, announced the launch of a new metaverse platform MyVerse, the first transportation metaverse ecosystem launched in Indonesia for the public. For developing the platform, PT Solusi Sinergi Digital Tbk entered into a strategic collaboration with two tech firms, FromLabs Pte Ltd and PT Lini Imaji Kreasi Ekosistem. In the initial stage of the launch, PT Solusi Sinergi Digital Tbk is targeting to acquire 20 million transportation users that will receive access to the services launched by the firm.
The launch of the MyVerse project is another push from these firms to drive the digital creative economy in Indonesia. From the short to medium-term perspective, TechInsight360 expects more such strategic partnerships in the Indonesian metaverse ecosystem.

Government entities are seeking to leverage metaverse capabilities to drive the digital economy in Indonesia

To drive the growth of its economy and promote the adoption of digital services among consumers, government entities have increased their investment in the metaverse space and are undertaking innovative projects. For instance,
• In August 2022, the Indonesian government tasked the state carrier for creating a metaverse platform. Notably, metaNesia, the metaverse platform launched by PT Telkom is used for promoting local businesses, while offering a bunch of other services including metaverse mall, shopping and service centers, entertainment, as well as the ability to host concerts in the metaverse.
• In August 2022, the Ministry of Tourism and Creative Economy partnered with Magnus Digital Indonesia to develop a metaverse channel, WonderVerse Indonesia. The channel is aimed at promoting tourism places in Indonesia to both domestic as well as international travelers. Furthermore, tourism firms can also promote their products to consumers through the metaverse channel. Moreover, travelers can also purchase flight tickets, accommodations, and hotels through the metaverse platform.
TechInsight360 expects the Indonesian government to undertake more such innovative metaverse projects to further promote the digital economy among its citizens in the country from the short to medium-term perspective.

This report provides a comprehensive view of the size, and dynamics of the metaverse industry in Indonesia along with market trends covering over 100 KPIs. It details market opportunities across key sectors - retail industry, technology & telecommunications, financial services, manufacturing, travel and hospitality, media & entertainment, training & education, real estate, and health & wellness. It provides analysis in terms of business spend as well as consumer spend.

• Business spend: Market estimates and forecasts to assess opportunities by business spend on metaverse by sector, application / use cases, technology, and platform.

• Consumer spend: Breaks down consumer spend on metaverse by key component segments such as append on e-commerce, NFT purchase, by devices, and hardware devices to provide detailed assessment across the metaverse industry.

• NFT industry segments: Provides value, volume, and average value per transaction across 7 key assets in the NFT market. This includes collectibles and art, real estate, sports, utility, gaming, fashion and luxury, and others.

Scope

This report provides a detailed data-driven analysis of metaverse industry, covering a range of segments and highlighting growth areas across verticals. With over 100 KPIs at the country level, this report provides a comprehensive understanding of metaverse market dynamics. In addition, it provides a comprehensive understanding of NFT market dynamics and future forecasts.

Indonesia Metaverse Market Size and Future Growth Dynamics by Key Performance Indicators
• Total Spend Value Trend Analysis
• Business Spend Value Trend Analysis
• Consumer Spend Value Trend Analysis

Indonesia Metaverse – Business Spend by Sector Value Trend Analysis, 2021–2030
• Retail Industry
• Technology & Telecommunications Industry
• Financial Services Industry
• Manufacturing Industry
• Travel and Hospitality Industry
• Media & Entertainment Industry
• Training & Education Industry
• Real Estate Industry
• Health & Wellness Industry
• Other

Indonesia Business Spend on Metaverse by Use Case / Application, 2021–2030
• Retail (Marketing & Advertising, Commerce, Operations & Training)
• Technology & Telecommunications (Marketing & Advertising, Commerce, Operations & Training)
• Financial Services (Marketing & Advertising, Commerce, Operations & Training)
• Manufacturing (Marketing & Advertising, Commerce, Operations & Training]
• Travel and Hospitality (Marketing & Advertising, Commerce, Operations & Training)
• Media & Entertainment (Marketing & Advertising, Commerce, Operations & Training)
• Training & Education (Marketing & Advertising, Commerce, Operations & Training)
• Real Estate (Marketing & Advertising, Commerce, Operations & Training)
• Health & Wellness (Marketing & Advertising, Commerce, Operations & Training)
• Other (Marketing & Advertising, Commerce, Operations & Training)

Indonesia NFT Spend by Sector Value Trend Analysis, 2021–2030
• Retail Industry
• Technology & Telecommunications Industry
• Financial Services Industry
• Manufacturing Industry
• Travel and Hospitality Industry
• Media & Entertainment Industry
• Training & Education Industry
• Real Estate Industry
• Health & Wellness Industry
• Other Industry

Indonesia Business Spend on Metaverse by Technology
• By Technology
• Retail Industry
• Technology & Telecommunications
• Financial Services
• Manufacturing Industry
• Travel and Hospitality
• Media & Entertainment
• Training & Education
• Real Estate
• Health & Wellness
• Other
Indonesia Spend on Metaverse by Platform
• Desktop
• Mobile
• Headset

Indonesia Ecommerce Spend on Metaverse by Sector (Gross Merchandise Value), 2021–2030
• Retail Shopping
• Travel and Hospitality
• Online Food Service
• Media & Entertainment
• Health & Wellness
• Technology Products & Services
• Other Industries

Indonesia NFT Market Size and Future Growth Dynamics by Key Performance Indicators
• NFT –Total Sales Spend Value Trend Analysis, 2021-2030
• NFT – Total Sales Spend Volume Trend Analysis, 2021-2030
• NFT – Average Value Per Transaction Trend Analysis, 2021-2030

Indonesia NFT Market Size and Forecast by Key Assets, 2021-2030

• NFT Collectibles and Art Trend Analysis, 2021-2030
– Spend Value
– Spend Volume
– Average Value Per Transaction

• NFT Real Estate Trend Analysis, 2021-2030
– Spend Value
– Spend Volume
– Average Value Per Transaction

• NFT Sports Trend Analysis, 2021-2030
– Spend Value
– Spend Volume
– Average Value Per Transaction

• NFT Gaming Trend Analysis, 2021-2030
– Spend Value
– Spend Volume
– Average Value Per Transaction

• NFT Utility Trend Analysis, 2021-2030
– Spend Value
– Spend Volume
– Average Value Per Transaction

• NFT Fashion and Luxury Trend Analysis, 2021-2030
– Spend Value Trend Analysis
– Spend Volume Trend Analysis
– Average Value Per Transaction

• Other Assets Trend Analysis, 2021-2030
– Spend Value Trend Analysis
– Spend Volume Trend Analysis
– Average Value Per Transaction

Indonesia Consumer Spend on Metaverse by Device, 2021–2030
– Desktop
– Mobile
– Digital Gadgets

Indonesia Consumer Spend on Metaverse by Hardware Devices, 2021–2030
– AR (Augmented Reality)
– VR (Virtual Reality)
– MR (Mixed Reality)

Reasons to buy

• In-depth Understanding of Metaverse Market Dynamics: Understand market opportunities and key trends along with forecast (2021-2030). Understand market dynamics through essential KPIs such as business and consumer spend.

• Vertical Insights and Use Cases: Get market dynamics through business spend by sector across the retail industry, technology & telecommunications, financial services, manufacturing, travel and hospitality, media & entertainment, training & education, real estate, and health & wellness.

• Develop Market-Specific Strategies: Identify growth segments and target specific opportunities to formulate a strategy; assess market-specific key trends, drivers, and risks in the metaverse and NFT market to help stakeholders build profitable strategies.

• Get Insights into NFT Market Size and Forecast by Key Assets: Collectibles and art, real estate, gaming, sports, utility, fashion & others.

• Consumer Spend on Metaverse: Get a market evaluation based on in-depth information obtained from metaverse spend on e-commerce, NFT purchase, and device & hardware devices.