Showing posts with label Competitors in Metaverse Industry. Show all posts
Showing posts with label Competitors in Metaverse Industry. Show all posts

Wednesday, February 22, 2023

Global Metaverse Industry is expected to reach a revenue of US$ 700 Bn by 2030: Ken Research

 Global Metaverse Market By Geography

The Global Metaverse market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. North America is expected to dominate the global metaverse market during the forecasted period owing to the presence of major companies such as Nvidia Corporation, Microsoft, Meta Platforms, and Unity Games. The Metaverse is expected to be primarily derived from North America. Virtual Reality, Augmented Reality, and 3D simulation is being used by several companies in North America to enhance their operations.

North America is increasing market share as a result of increased investment in Metaverse by leading players such as Meta Platforms, Nvidia Corporation, Roblox Corporation, and others. For Instance, NVIDIA expands the omniverse platform in August 2021 in order to draw millions more players to the metaverse.

Competition Scenario In Global Metaverse Market

The metaverse market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in metaverse advancement for multiple industries. most of the country-niche players are metaverse developers.

Global players control about 10% of the market, while regional players hold the second largest share. Some of the major players in the market include Meta Platforms, Microsoft, Nvidia, Tencent Holdings Ltd, Roblox Corporation, Nextech AR Solutions Inc, Unity Software Inc, Bytedance, Epic Games, Inc., Decentraland, Antier Solutions, and Alibaba Group Holding Limited.

What is the Expected Future Outlook for the Overall Global Metaverse Market Across the globe?

The Global Metaverse market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Metaverse market is driven the increase in popularity of virtual Reality, augmented reality, and mixed reality the metaverse is gaining momentum as it helps in connecting the physical world with the virtual environment. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

With the increasing acquisition and emergence of new products, the Global Metaverse market is changing rapidly. For instance, In September 2022, Meta is collaborating with Qualcomm to design a customized chipset for extended reality platforms to deliver the next-generation platforms and core technologies to accelerate a fully immersive metaverse.

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In January 2022, Microsoft is acquiring Activision Blizzard which will bring experience and community of Gaming to everyone. Activision Blizzard Inc. is a leader in gaming development and interactive entertainment content publisher and this acquisition will help the company to accelerate growth in Microsoft’s gaming business and will provide building blocks for the metaverse. Furthermore, In April 2022, Epic Games, an American video game and software developer, announced a US$2 billion round of funding to promote the company's aim of building the metaverse and support its ongoing expansion.

The gaming industry is a leader in adopting cutting-edge technology like VR, and AR. These technologies can improve gaming experiences by developing virtual characters and things that are connected to particular real-world locations. The Global Metaverse Market is forecasted to continue at an exponential growth rate that it has been witnessing since 2019, primarily driven by rise in demand for three-dimensional (3D) environment as remote working tool during the time of COVID-19 pandemic. Though the market is highly competitive with ~500 participants, few global players control the dominant share and regional players also hold a significant share.

Market Taxonomy

By Component

  • Hardware
  • Software
  • Professional Services

By Platform

  • Desktop
  • Mobile
  • Wearable
  • Others

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By Offerings

  • Virtual Platforms
  • Asset Marketplace
  • Avatars
  • Financial Services

By Technology

  • Augmented Reality (AR) & Virtual Reality (VR)
  • Mixed Reality
  • Blockchain
  • Others (IoT, etc)

By End-User

  • Gaming
  • Social Media & Live Events
  • Online Shopping
  • Industrial Manufacturing
  • Aerospace and Defense
  • Education
  • Healthcare
  • Others (Content Creation, Virtual Runway Shows, Fashion, Testing & Application)

By Geography

  • North America (USA Canada, Mexico)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia, Rest of Asia-Pacific
  • Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
  • Latin America, Middle East & Africa (LAMEA)

Key Competitors

  • Meta Platforms Inc.
  • NVIDIA Corporation
  • Microsoft
  • Nextech AR Solutions Inc.
  • Decentraland
  • Roblox Corporation
  • Tencent Holdings Ltd.
  • Bytedance
  • Unity Software Inc.
  • Antier Solutions
  • Alibaba group holding limited
  • Epic Games, Inc.

For more insights on the market intelligence, refer to below link:-

Global Metaverse Market

Monday, February 20, 2023

Global Metaverse Market is expected to record an exponential CAGR of ~40% during the forecasted period (2022-2030): Ken Research

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What Is the Size of Global Metaverse Industry?

Global Metaverse market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. The Metaverse Market is largely driven by the increase in popularity of virtual Reality, augmented reality, and mixed reality the metaverse is gaining momentum as it helps in connecting the physical world with the virtual environment.

Metaverse helps in purchasing digital assets such as cryptocurrencies and non-fungible tokens (NFTs) and as these digital assets are gaining popularity day by day this will provide a positive impact on the growth of the metaverse market. In February 2022, Decentraland a 3D virtual world browser-based platform raised US$ 1.2 million in a fungible token auction using metaverse.

The retail and eCommerce industry are investing in the metaverse as it helps to showcase products in the virtual world. In May 2021, United Nations Conference on Trade and Development, an intergovernmental organization stated that Global e-commerce sales had reached US$ 26.7 trillion in 2019 which get boosted due to online sales and such an increase in eCommerce will create a huge opportunity for the Metaverse Market to grow. Furthermore, COVID-19 plays an important role in the metaverse concept as people start working from home, students began education online, and users start adopting online video gaming.

Global Metaverse Market By Components

The Global Metaverse market is segmented by Component into Hardware, Software and Professional Services. The hardware segment held the largest market share of the Global Metaverse Market in 2022 as hardware provides components such as AR/VR headsets and displays to the user which is the primary need to access the metaverse.

Hardware is used to provide customers products like AR/VR headsets and displays, Extended Reality hardware. There are some other hardware products which include a tracking system, projectors & display walls, and scanning sensors. In 2021, Meta Platforms, an operator of social media technology, announced that its product Quest 2 VR headsets captured 78% (8.7 million units) of the entire headsets Market (11.2 million units).

Global Metaverse Market By Platform

The Global Metaverse Market is segmented by Platform into Desktop, Mobile, Wearable and Others. The desktop segment accounted for the majority share of the global metaverse market in 2022, owing to the raising adoption of online gaming. Increasing the video gaming audience creates a demand for desktop devices which helps in experiencing virtual reality gaming. The mobile segment is expected to grow with the highest CAGR as it is becoming a more useful and easiest way to connect to the metaverse.

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Desktop has the primary portal into the Metaverse Market, Virtual Desktop is a program that allows users to utilize Virtual Reality using VR headsets. Users can publish and communicate with each other using video conferencing using Metaverse. The smartphone market is increasing and they are becoming the more useful and easiest way to connect to the metaverse.

Global Metaverse Market Revenue

Global Metaverse Market By Offering

The Global Metaverse market is segmented by Offering into Virtual Platforms, Asset Marketplace, Avatars and Financial Services. Asset Marketplace segment held the largest share of the global metaverse market in 2022, due to an increase in the investment of bitcoins, NFTs (Non-Fungible Tokens), and Cryptocurrencies.

An Asset Marketplace is a platform for trading digital assets such as in-game assets, virtual land, and non-fungible tokens all the transaction which is done based on blockchain technology, and NFTs can be used and transferred in the metaverse.  The US government still owned US$4.08 billion in Bitcoin as of February 2022, government involvement in the asset market drives the growth of the global metaverse market.

Global Metaverse Market By Technology

The Global Metaverse market is segmented by Technology into Augmented Reality (AR) & Virtual Reality (VR), Mixed Reality, Blockchain and Others (IoT, etc). Augmented reality and virtual reality segment held the largest share of the global metaverse market in 2022, due to the rising demand for services based on virtual reality (VR) and augmented reality (AR), as well as the usage of technology to produce the experience of virtual environment. Metaverse Virtual Reality and Augmented reality is been used in various industries such as Gaming and entertainment, Healthcare, Education, and many more.

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Global Metaverse Market By End-User

The Global Metaverse market is segmented by End-User into Gaming, social media & Live Events, Online Shopping, Industrial Manufacturing, Aerospace and Defense, Education, Healthcare and Others (Content Creation, Virtual Runway Shows, Fashion, Testing & Application).

The gaming segment held the largest share of the global metaverse market in 2022, due to the substantial ongoing improvements and advancements made by developers and the rising emphasis on increasing immersion and realism in games.

Market Taxonomy

By Component

  • Hardware
  • Software
  • Professional Services

By Platform

  • Desktop
  • Mobile
  • Wearable
  • Others

By Offerings

  • Virtual Platforms
  • Asset Marketplace
  • Avatars
  • Financial Services

By Technology

  • Augmented Reality (AR) & Virtual Reality (VR)
  • Mixed Reality
  • Blockchain
  • Others (IoT, etc)

By End-User

  • Gaming
  • Social Media & Live Events
  • Online Shopping
  • Industrial Manufacturing
  • Aerospace and Defense
  • Education
  • Healthcare
  • Others (Content Creation, Virtual Runway Shows, Fashion, Testing & Application)

By Geography

  • North America (USA Canada, Mexico)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia, Rest of Asia-Pacific
  • Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
  • Latin America, Middle East & Africa (LAMEA)

Key Competitors

  • Meta Platforms Inc.
  • NVIDIA Corporation
  • Microsoft
  • Nextech AR Solutions Inc.
  • Decentraland
  • Roblox Corporation
  • Tencent Holdings Ltd.
  • Bytedance
  • Unity Software Inc.
  • Antier Solutions
  • Alibaba group holding limited
  • Epic Games, Inc.

For more insights on the market intelligence, refer to below link:-

Global Metaverse Market