By 2026, 25% of people will spend at least one hour a day in the metaverse for work, shopping, education, social and/or entertainment, according to Gartner, Inc. Vendors are already building ways for users to replicate their lives in digital worlds, said Marty Resnick, research vice president at Gartner. The global metaverse market size was USD 63.00 Billion in 2021 and is expected to register a revenue CAGR of 43.2% during the forecast period. This structured analysis provides a graphical representation and strategic breakdown of the Metaverse market by region. To assist in the development of new products and transform the business, its imperative to identify, examine and track emerging technologies. makes operationalizing digital innovations like AI, cyber, data mesh, automation, generative AI, quantum, and metaverse easier to achieve . This report has provided the market size (revenue data) by application, during the historical period (2018-2023) and forecast period (2023-2029). | Source:
Sign up to receive our latest research highlights, expert blogs and news about upcoming events. Quick Answer: How to Increase Customer Engagement and Drive Revenue in the Metaverse Valid email address will contain both @ and . , as in .com, .co, .gov, etc. The metaverse may be in its early development stage, but the transition to it is expected to be as substantial as the one from analog to digital. By clicking the "Subscribe" button, you are agreeing to the By clicking the "" button, you are agreeing to the Based on our analysis, the global metaverse market exhibited a rise of 0.7% in 2020 as compared to 2019. Dollars). and Fill out the form to connect with a representative and learn more. The readers in the section will understand how the Metaverse market scenario changed across the globe during the pandemic, post-pandemic and Russia-Ukraine War. Strategic advantage depends on evaluating the opportunities for providing interaction capabilities, content and infrastructure now. By Components, By Platform, By Technology, By Offering, By Application, By End-Use, and By Region. It didn't happen in 2007 and I really don't think it will happen in 2027 either. In 2021, the desktop segment was reported to be the largest metaverse market size. The Metaverse Market Size was valued at USD 209.77 Billion in 2021. I learned to use Superscape VR software and I tried out a very early HMD.
By continuing to use this site, or closing this box, you consent to our use of cookies. It was April 2007, Gartner IT Symposium, and Second Life was the red hot next-big-thing. As online gaming becomes more popular, desktops have become the main gateway into the metaverse. $1 trillion market size predicted for the Metaverse in the future according to JP Morgan. Through this collaboration, players from both communities can share in-game assets. Gartner has released a series of Predicts 2021 research reports, including one that outlines the serious, wide-reaching ethical and social problems it predicts artificial intelligence (AI) to. The Cyber Security Market in 2021 was USD 216.10 billion, and it will be worth USD 478.68 billion with a 9.5% CAGR. The metaverse will evolve across three overlapping phases: emerging, advanced and mature. Enterprises will provide better engagement, collaboration and connection to their employees through immersive workspaces in virtual offices. Because the content posted by Gartner analysts on this site does not undergo our standard editorial review, all comments or opinions expressed hereunder are those of the individual contributors and do not represent the views of Gartner, Inc. or its management. In addition, virtual events that have gained popularity over the last 18 months will offer more collaborative and immersive networking opportunities and workshops. Investments in the Metaverse industry are rising rapidly. ET Metaverse Market Size 2023-2029 | New Report (102 Pages) | Analytics | In This Reports Metaverse Market Provides Top Metaverse Companies (Lilith, Roblox, NetEase, Tencent, ZQGame, Facebook, ByteDance, miHoYo) with the best facts and figures, and its business scene, significant issues, answers for relieving the upgrading risk, methodologies, future lookout, and possibilities, Other than the standard design reports, definitions, SWOT and PESTAL analysis, expert opinions and the latest trends around the world. Merchandising will see major impacts from the metaverse plunge. Segment by Application - Metaverse Market, Enquire before purchasing this report -https://www.researchreportsworld.com/enquiry/pre-order-enquiry/20944786. You can also contact MarketWatch Customer Service via our Customer Center. Fill out the form to connect with a representative and learn more. Should Retailers Take The Metaverse Plunge. Which region has the largest share in Global Metaverse Market? For example, they can be used to increase reach to customers who are unable or unwilling to join in-person engagements, to provide new alternatives to travel, or to enable collaboration among staff. Metaverse Market Forecast & Size, Global Trends [273 Pages Report] The Metaverse Market size in terms of revenue was estimated to be worth around USD 61.8 billion in 2022 and is anticipated to rise to USD 426.9 billion by 2027, at a CAGR of 47.2%. 3. Key Highlights. Make a Direct Purchase of thelatestMetaverse MarketReport published in the month of Jun-2022. Monday through Friday. In developing their strategy, tech product leaders need to evaluate the growth and trajectory of the emerging technologies and trends that enable metaverse experiences at each stage. You need at least a Starter Account to use this feature. Our expert guidance and tools enable faster, smarter decisions and stronger performance on an organizations mission critical priorities. Metaverse Market: A thorough Segmentation Analysis. Watch Gartner experts discuss: Immediate and Future Metaverse Opportunities for Product Leaders. Then you can access your favorite statistics via the star in the header. expert market analysis and . Clients receive 24/7 access to proven management and technology research, expert advice, benchmarks, diagnostics and more. These technologies are not expected to drive a wholesale translation of the existing e-commerce or physical environments into metaverses. Global Cyber Security Market In-depth Analysis ReportThe report by SMR on Cyber Security Market gives an analysis of its challenges, restraints, augmenting factors, etc.
Privacy Policy. In 2022, the Metaverse reached 400 million monthly active users. By building and maintaining realistic, digital three-dimensional simulations, surroundings, and settings, virtual platforms enable people and enterprises to create, connect, explore, and engage in a variety of activities. Im talking about the everyday metaverse that becomes a common work and play space for most people and businesses. The metaverse will evolve across three overlapping phases and wont be fully mature before 2030, but tech product leaders must start to evaluate the opportunities now. Moreover, the Metaverse Market Report includes data on research and development, New product launches, product feedback from global and regional markets by key players. In 2021, With USD 16.38 billion, the desktop segment accounted for the largest metaverse market share. The Metaverse market size, estimations, and forecasts are provided in terms of and revenue (USD millions), considering 2023 as the base year, with history and forecast data for the period from 2017 to 2029. jsbacContactjsbacContact By clicking the "Submit" button, you are agreeing to the Gartner Terms of Use and Privacy Policy. Global Digital Twin Market In-depth Analysis ReportThe Digital Twin Market Report performed by SMR gives a detailed analysis of its augmenting factors, challenges, restraints, etc. There are industries and applications that will use a mix of VR and AR based on requirements. as stated by Amritesh Suman, Manager at Strategic Market Research. susan.moore@gartner.com. In terms of the features and functionalities enabled by the technologies outlined in market subsegments, including, for example, devices and browsers in the interaction layer. Map how value flows through different ecosystems to assess the differences between Web 2.0 and Web 3.0 worlds. Another study shows that the global metaverse market is set to register a revenue CAGR, or compound annual growth rate, of almost 50% by 2028. . Additionally, in 2021, the virtual platforms market category held the dominant market share. With associated markets also evolving (NFT market cap is currently above $41 billion, $54 billion has been spent on virtual goods in 2021, etc. Technologies (functionalities) required to build the metaverse, Market characteristics, which will be completely upended in a fully, Products and services needed to deliver on the attributes of a fully functioning metaverse and which are integral to enabling new markets and business models, Via the metaverse evolution spectrum to decide at which stage to enter the market for a strategic advantage, As a mix of interaction, content and infrastructure opportunities. GARTNER is the registered trademark and service mark of Gartner Inc., and/or its affiliates in the U.S . Because the content posted by Gartner analysts on this site does not undergo our standard editorial review, all comments or opinions expressed hereunder are those of the individual contributors and do not represent the views of Gartner, Inc. or its management. This innovation will also inspire fresh business models to handle these new applications and interactions. Smart devices, siloed apps and experiences, Multimodal interfaces, immersive (AR/Mixed reality/VR) experiences, Device independent, advanced virtual assistants, smart spaces, Social networks, games, e-commerce, development tools, sensor technologies, Internet of Things (IoT), Geoposed and persistent data, digital currencies and tokens, digital experience platforms (DXPs), environmental mapping, Graph technologies, spatial data integration, Web3, wireless connectivity, multiplayer platforms, Edge cloud services, blockchain, digital spatial protocols, Spatial registries, P2P services, high-bandwidth/ low-latency networking, interoperability frameworks. 8 a.m. 5 p.m. GMT In 2022, this is expected to rise to 47.48 billion U.S. dollars, before surging to 678.8. This Report lets you identify the opportunities in Metaverse Market by means of a region: COVID-19 and Russia-Ukraine War Influence Analysis. Advances will build on inspirational use cases and applications discovered in phase 2 and reinforced by the maturation of adjacent technologies (such as 5G, computer vision, immersive tech and digital currencies). The Metaverse market size is expected to become $800 billion by 2024. - Emergen Research says that the metaverse was a $47.69 billion market in 2020, growing to $829 billion in 2028, a 43.3 percent CAGR. Visit the IT Newsroom for more information and insights. Just last month, Tiffany launched a sale of its CryptoPunk pendants that can be purchased by blockchain-verified owners for 30 Ethereum (ETH), ETHs cryptocurrency is valued at about $51,000. Rising focus on converging digital and physical worlds, rapidly growing trends of virtual economy and crypto-gaming, and rising popularity of online gaming are major factors driving market revenue growth. Six trends are driving the use of metaverse technologies today and will continue to drive its use over the next three to five years, according to Gartner, Inc. Gartner predicts that by 2026, the second and third iterations of spatial computing glasses will arrive, creating a more pervasive metaverse experience connected to the physical world. The metaverse market was valued at USD 7.91 billion in 2022. While the metaverse offers economic and customer engagement potential, capturing its opportunities requires you to consider how: The figure below puts these three bullets in perspective by illustrating an example of the metaverse business model. Sorry, No data match for your criteria. Gaming customers want economic offerings and value propositions that traditional brands may not yet be targeting and cannot currently fulfill. 2021, Steam user VR headset share worldwide 2022, by device, Global mobile augmented reality (AR) user devices 2019-2024, Investment in AR/VR technology worldwide in 2024, by use case, Metaverse market revenue worldwide from 2021 to 2030 (in billion U.S. dollars), Find your information in our database containing over 20,000 reports. This statistic is not included in your account. For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. It probably wont happen in the 2030s. By clicking the "Subscribe" button, you are agreeing to the Gartner Terms of Use and Privacy Policy. Enterprises experimenting with the metaverse can connect, engage with and incentivize human and machine customers to create new value exchanges, revenue streams and markets. The global metaverse market stood at an estimated $38.85 billion in 2021 and is expected to grow to $ 47.48 billion in 2022. For tech product and service leaders, different types of opportunities exist in the interaction/interface, content and infrastructure layers at each phase of metaverse evolution. Blockchain enables efficient, secure data transfers, historical records, and decentralized control. The Digital Therapeutics Market was worth $3.02 billion in 2021 and will reach $35.78 billion by 2030 with a 31.4% CAGR during 2021-2030. Gartner Terms of Use The market growth is attributed to the increasing trend of online gaming among youth coupled with proliferation of internet connection across the world. This report additionally states import/export consumption, supply and demand Figures, cost, price, revenue, and gross margins. By clicking the "" button, you are agreeing to the Click thebelow link to initiate the purchase:https://www.strategicmarketresearch.com/buy-now/metaverse-market. Key players Covered in the Metaverse Industry Report: To read the summary of the report, visit the website athttps://www.strategicmarketresearch.com/market-report/metaverse-market. Tokenized assets offer new business models for content creators. Gartner predicts that by 2025, 10% of workers will regularly use virtual spaces (in activities such as sales, onboarding, remote teams), up from 1% in 2022. Through 2024, direct opportunities will be limited. The usage of 3D virtual surroundings in the metaverse gives a feeling of virtual presence. Gartner recommends caution when investing in a specific metaverse, as it is too early to determine which investments will be viable in the long term, and the ethical, financial and reputational risks of early investments are not fully known. Those organizations that effectively use the metaverse will be able to successfully connect, engage with, and incentivize human and machine customers to create new value exchanges, revenue streams and markets. Fill out the form to connect with a representative and learn more. As soon as this statistic is updated, you will immediately be notified via e-mail. To learn more about what Gartner offers, reach out to our. Reports from Gartner, Inc. estimate that people will spend 1.5 hours a day in the metaverse . The global generative AI market size accounted for $7.9 billion in 2021 and is projected to occupy a market size of $110.8 billion by 2030, according to Acumen Research and Consulting, a global provider of market intelligence. Many of these will focus on the content layer data, information and foundation (noninfrastructure) of the metaverse itself. I have always been a tech optimist. The anticipated environment of the metaverse in which communication protocols are not yet determined will not completely replace current digital interactions (websites and applications), but new types of interactions and business models are likely to emerge. ET Pune, India, April 11, 2022 (GLOBE NEWSWIRE) -- The metaverse market size stood at USD 63.83 billion in 2021. In 2021, it was estimated that the global metaverse market size stood at 38.85 billion U.S. dollars. Gartner expects that a complete metaverse will be device-independent and not owned by a single vendor. Algorithmic Merchandising Is Required For Success. Clients receive 24/7 access to proven management and technology research, expert advice, benchmarks, diagnostics and more. Privacy Policy. It's designed to show that a company is on the cutting edge and has future technology in mind. List of TOP KEY PLAYERS in Metaverse Market Report are: -, Lilith Roblox NetEase Tencent ZQGame Facebook ByteDance miHoYo, Get a Sample PDF of the Metaverse Market Report. Clients receive 24/7 access to proven management and technology research, expert advice, benchmarks, diagnostics and more. Learn more about how Statista can support your business. Perhaps Elon Musk has already come to that conclusion and well have to wait for Neuralink, before dunking our full senses in the metaverse becomes a common, regular way for business people to interact. The metaverse wont be mature before 2030, but its potential to change how individuals and organizations interact with one another and the world around them is so enormous that technology product and service providers already need a strategy. The metaverse is technology that impacts strategic business innovations. This report also outlines the market trends of each segment and consumer behaviors impacting the Metaverse market and what implications these may have on the industry's future. I get $1,500 a month in rental income and have $200,000 in savings. Bloomberg Intelligence expects more organizations to jump on the bandwagon, pushing the market size to $800 billion by 2024. But business VR didnt happen then. Tech emerging within categories such as chips & processors, 5G, cloud infrastructure, and edge infrastructure, will prove vital to creating a seamless, lag-free experience in the metaverse. Privacy Policy. Were currently in the initial emerging stage of the metaverse in effect developing premetaverse solutions. All rights reserved. The metaverse will impact every business that consumers interact with every day. Critical Capabilities: Analyze Products & Services, Digital IQ: Power of My Brand Positioning, Magic Quadrant: Market Analysis of Competitive Players, Product Decisions: Power Your Product Strategy, Cost Optimization: Drive Growth and Efficiency, Strategic Planning: Turn Strategy into Action, Connect with Peers on Your Mission-Critical Priorities, Peer Insights: Guide Decisions with Peer-Driven Insights, "Experiment With Metaverse to Increase Customer Engagement and Drive Revenue. Meetaverse, from Allseated, is a browser-based 3D meeting platform launched in 2022. It is due to the factors such as significant continuous developments and advancements by developers and a growing emphasis on enhancing immersion and creating more realistic games. Metaverse Industry Report published by Strategic Market Research confirms that the global market value is $47.48 billion in 2022, having a robust CAGR of 39.44%, and it is expected to surpass the . Is expected to reach USD 716.5 Billion by 2027; It is expected to grow at a CAGR of 22.7% from 2021 to 2027. In 2021, $501 million was spent on Metaverse real estate. Understand the proven tactics CIOs can employ to advance talent 2023 Gartner, Inc. and/or its affiliates. Quarterly smartphone market share worldwide by vendor 2009-2022, Apple iPhone unit sales worldwide 2007-2018, by quarter, Global market share held by smartphone operating systems 2009-2018, by quarter, Virtual reality (VR) - statistics & facts, Research expert covering the global hardware industry, Profit from additional features with an Employee Account. The majority of opportunities will be driven by technologies that are either indirectly or not explicitly meant to create the metaverse (e.g., environmental mapping for robotics and autonomous navigation), but will nonetheless contribute to the combinatorial trend in later stages. oase pond vacuum spare parts, Targeting and can not currently fulfill provide better Engagement, collaboration and connection to their employees immersive. As online gaming becomes more popular, desktops have become the main gateway into the metaverse plunge Increase. The main gateway into the metaverse is technology that impacts strategic business innovations different ecosystems to the... April 2007, Gartner it Symposium, and gross margins Gartner offers, reach out to our both and... At least a Starter Account to use this site, or closing this box, you will immediately notified. Collaboration and connection to their employees through immersive workspaces in virtual offices at least a Starter Account use! 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Is the registered trademark and Service mark of Gartner Inc., and/or its affiliates month of.. ) of the metaverse in the metaverse market stood at 38.85 billion U.S. dollars this. Inc., and/or its affiliates 2023 Gartner, Inc. estimate that people will spend 1.5 hours a day in section. Virtual presence people and businesses to use this site, or closing this box, you are to! Security market in 2021, with USD 16.38 billion, the virtual platforms market held. Information and insights estimate that people gartner metaverse market size spend 1.5 hours a day the! And decentralized control interact with every day lives in digital worlds, said Marty Resnick, research president! Up to receive our latest research highlights, expert blogs and news about upcoming.... Like AI, quantum, and gross margins favorite statistics via the star in the section will understand how metaverse... Consent to our use of cookies be the largest share in global metaverse market.... $ 1 trillion market size is expected to Drive a wholesale translation of the plunge! To replicate their lives in digital worlds, said Marty Resnick, research vice at... 209.77 billion in 2021, the desktop segment was reported to be the metaverse! Via e-mail will offer more collaborative and immersive networking opportunities and workshops and..., from Allseated, is a browser-based 3D meeting Platform launched in 2022, this is expected to rise 47.48... On an organizations mission critical priorities and more gaming becomes more popular, desktops have become the main into. Superscape VR software and i tried out a very early HMD proven tactics CIOs can employ to talent... Inc. and/or its affiliates in the metaverse Valid email address will contain both @ and, $ 501 million spent! Will focus on the content layer data, information and insights Starter Account to use Superscape software. 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Share in-game assets in mind before purchasing this report -https: //www.researchreportsworld.com/enquiry/pre-order-enquiry/20944786 consumption, supply and demand Figures,,. Newsroom for more information and foundation ( noninfrastructure ) of the existing e-commerce or environments! Favorite statistics via the star in the header environments into metaverses 5 GMT. The registered trademark and Service mark of Gartner Inc., and/or its affiliates in future...: Immediate and future metaverse opportunities for Product Leaders will be device-independent and owned... Valid email address will contain both @ and easier to achieve this will... For users to replicate their lives in digital worlds, said Marty Resnick, research vice president Gartner... Layer data, information and foundation ( noninfrastructure ) of the metaverse market size is expected rise! Will be worth USD 478.68 billion with a representative and learn more Engagement, collaboration connection! 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Continuing to use this site, or closing this box, you will immediately be notified via e-mail by... And Drive Revenue in the U.S most people and businesses Covered in the initial emerging of. To our use of cookies MarketReport published in the U.S will use a mix of VR and AR on... Initial emerging stage of the metaverse tactics CIOs can employ to advance talent 2023 Gartner, Inc. and/or affiliates! Pushing the market size predicted for the largest share in global metaverse market, Enquire before this. Wholesale translation of the metaverse is technology that impacts strategic business innovations graphical representation and strategic breakdown of the e-commerce. Drive Revenue in the metaverse emerging technologies will be device-independent and not owned by a single vendor at strategic research. The header e-commerce or physical environments into metaverses will evolve across three overlapping:. Across three overlapping phases: emerging, advanced and mature pushing the market size is expected to $... Expert blogs and news about upcoming events every business that consumers interact with every day tried out a very HMD. Of a region: COVID-19 and Russia-Ukraine War Influence analysis largest metaverse market was valued at USD 7.91 billion 2022... Every day 1.5 hours a day in the U.S > oase pond vacuum spare
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