United States 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 United States is expected to grow by 37.4% on an annual basis to reach US$99,577.9 million in 2023.

The Metaverse industry is expected to grow steadily over the forecast period, recording a CAGR of 32.9% during 2023-2030. The Metaverse Spend Value in the country will increase from US$72,457.9 million in 2022 to reach US$3,75,700.0 million by 2030.

A lot of innovation is taking place in the United States metaverse industry. Ahead of the 2022 holiday and FIFA World Cup season, an increasing number of brands revamped activities in the metaverse to better engage with their customers. The growing investment in emerging technology comes amid the rising popularity of the metaverse among United States consumers.
According to TechInsight360’s Global Metaverse Survey (Q4 2022), over 28% of consumers in the US stated that they are somewhat or very familiar with the metaverse. Furthermore, 18% of the consumers want to use the metaverse to explore products in 3D. While the metaverse industry is still in its early stages of development, with most firms investing in the development of virtual world infrastructure, the sector outlook remains positive from the short to medium-term perspective.

Brands across industry verticals are seeking to engage with consumers through innovative metaverse integrations and activations in the United States

In the changing retail environment, brands are looking to leverage the metaverse technology to amplify their brand value, accelerate growth, expand their offerings, and reach new audiences. Ahead of the 2022 holiday and FIFA World Cup season, brands have launched innovative metaverse integrations and activations to better engage their audiences. For instance,
• In October 2022, Cheetos, one of the leading brands in the United States, announced the launch of a new immersive metaverse experience, just in time for Halloween. Frito-Lay launched the Cheetos-themed digital suburban neighborhood, Chesterville, which is developed inside Meta's Horizon Worlds. Inside the metaverse, users can play games and earn points by completing tasks. Alongside the metaverse game, Frito-Lay also launched the first-ever Web3 campaign, which is driven by the 2022 FIFA World Cup. In partnership with PepsiCo and Vatom, the metaverse platform, the Web3 campaign will allow FIFA fans in the United States to scan the QR code and join the Pass the Ball Challenge.
• Several other brands, including Visa, Maybelline, PacSun, TCL Electronics, and Victoria’s Secret and Co., have launched metaverse integration and activations for their customers. Maybelline, for instance, launched a non-shoppable virtual space that allows users to discover and explore products. Furthermore, users can join events and play games in Maybelline Virtual Loft. Similarly, Visa, developed a hybrid experience for the upcoming 2022 FIFA World Cup, with the aim to educate people on how the firm is enabling money movement across the world in new ways.
From the short to medium-term perspective, TechInsight360 expects more brands across industry verticals to keep investing in the metaverse segment to reach new audiences and for building a global brand.

Firms are expected to invest billions of dollars toward the development of metaverse infrastructure

Dubbed the next big innovation and the future of the internet, big tech giants are continuing to fund billions into the market, even though their projects have not accumulated the expected adoption among consumers. For instance,
• Meta, formerly known as Facebook, announced that the firm will continue to invest in the development of metaverse infrastructure, with spending expected to reach approximately US$100 billion over the next five years. The announcement comes at a time when the firm has experienced a dramatic downturn in its revenue. The declining ad revenue, increasing competition, and other macroeconomic factors meant that the firm reported a revenue decline for the second straight quarter, and the trend is expected to further continue in Q4 2022.
• Meta is also focusing on strategic acquisition opportunities to further its metaverse ambitions. In November 2022, Meta announced that the firm had acquired a United Kingdom-based Audio Analytic, the firm that builds AI-driven sound recognition software. Furthermore, in September 2022, Meta also acquired Lofelt, a Berlin-based haptic startup, that develops small and discrete wearable devices. These acquisitions are part of the firm's strategy to create an ecosystem that can enhance the customer experience in the metaverse.
TechInsight360 expects Meta to enter into more such strategic acquisition deals over the next three to four years, as it continues to make a push into the future of the internet. This will keep driving investment in the sector from the short to medium-term perspective.

US-based retailers are making a move into the metaverse through the launch of a marketplace for collecting and trading virtual products
In their effort to attract Gen Z consumers and pitch themselves as the brand of the modern world, US-based retailers are launching their own innovative marketplaces in the country. For instance,
• In November 2022, Nike, one of the leading US-based athletics retailers, announced the launch of a metaverse marketplace, .Swoosh. The marketplace will enable customers to collect and trade virtual products. The firm plans to launch a digital collection on the platform in 2023. Shoppers can try out and wear the virtual items in digital games and experiences.
• In September 2022, Walmart also announced its move into the metaverse through a strategic collaboration with Roblox. The US-based retailer launched two metaverse experiences on the Roblox platform, Walmart Land and Universe of Play. While Walmart Land will feature entertainment, beauty, and fashion items, Universe of Play will showcase toys.
Over the next three to four years, TechInsight360 expects more retailers in the United States to launch metaverse experiences to attract new audiences and drive engagement with the existing ones.

This report provides a comprehensive view of the size, and dynamics of the metaverse industry in United States 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.

United States 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

United States 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

United States 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)

United States 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

United States 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
United States Spend on Metaverse by Platform
• Desktop
• Mobile
• Headset

United States 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

United States 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

United States 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

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

United States 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.