Vietnam 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 Vietnam is expected to grow by 36.3% on an annual basis to reach US$6,313.9 million in 2023.

The Metaverse industry is expected to grow steadily over the forecast period, recording a CAGR of 29.4% during 2023-2030. The Metaverse Spend Value in the country will increase from US$4,632.9 million in 2022 to reach US$19,865.5 million by 2030.

Metaverse technology has gained rapid momentum among both private and public organizations in Vietnam. With government entities seeking to leverage emerging tech to gain competitive advantage, innovation is growing in the domestic metaverse market.
In June 2022, a metaverse village was set up with the aim to support 800 businesses and encouraging them to undertake potential metaverse projects. Along with the government interest, Vietnamese investors are also showing rising interest in the space by infusing capital into global metaverse projects. Overall, TechInsight360 maintains a robust growth outlook for the metaverse industry in Vietnam over the next three to four years.

The development of 6G technology will accelerate the adoption of metaverse among citizens in Vietnam

With the metaverse termed as the future of the internet, the Vietnamese government is offering incentives to accelerate the consumer metaverse adoption in the coutnry. For instance,
• The Ministry of Information and Technology has set up a committee for promoting the research and development of the 6G technology in Vietnam. The technology is expected to offer more reliable and high-speed internet access to Vietnamese, which is critical for the widespread adoption of the metaverse.
• The undertaking of these initiatives has led domestic tech firms to invest increasingly in the development of metaverse infrastructure. For instance, Viettel Group, one of the largest telecom players in the country, has forayed into the metaverse sector through its affiliate firm. The company is developing a metaverse platform.
While Vietnam is currently in the phase of commercial testing for the 5G network, promoting the research and development of 6G technology will remain a critical factor in the growth of the Vietnamese metaverse industry from the medium to long-term perspective.

Firms are raising funding rounds to make a push in the emerging metaverse sector in Vietnam

The competitive landscape in the Vietnamese metaverse industry is growing as more and more firms are entering the sector. To develop and build innovative metaverse projects, firms are raising capital from venture capital and private equity firms.
• In June 2022, Ancient8, a GameFi developer and blockchain gaming firm, announced that the firm had raised US$6 million in a funding round which was led by Makers Fund and C2 Ventures. The firm is planning to use the capital to further boosts its metaverse infrastructure development. As of June 2022, the firm has more than 200,000 users and a growing list of 25 blockchain games, including Axie Infinity and Phantom Galaxies among others.
Before raising the US$6 million funding round, the firm also raised US$4 million in a seed round, which was led by Dragonfly Capital, Hashed, and Pantera Capital, among several others. From the short to medium-term perspective, the firm is expected to raise more such funding rounds as it looks to develop robust metaverse infrastructure and blockchain-based games.

Vietnam is leveraging the metaverse technology to promote tourism in the country

Like many of the Southeast Asian countries, which are using metaverse to promote tourism in the region, Vietnam has also turned to the virtual world to drive the growth of its tourism industry.
• In March 2022, the center for culture in Hoi An City announced a strategic collaboration with Bizverse to promote the tourism industry through the metaverse platform. All major attractions, relics, and traditional craft villages in the city were digitalized using 3D images to be shown on the metaverse platform. Through the metaverse project, the Vietnamese city is planning to lure more global travelers by offering an immersive travel experience.

From the short to medium-term perspective, the country is expected to undertake more such projects. This will keep driving the growth of the metaverse industry in Vietnam over the next three to four years.

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

Vietnam 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

Vietnam 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

Vietnam 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)

Vietnam 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

Vietnam 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
Vietnam Spend on Metaverse by Platform
• Desktop
• Mobile
• Headset

Vietnam 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

Vietnam 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

Vietnam 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

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

Vietnam 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.