Are UK Based Players Dominating the Metaverse to Secure a $250 Bn Edge by 2028?: Ken Research

 Buy Now

Story Outline

• Rise in Demand in the media and entertainment, gaming and adjacent markets like virtual reality (VR), augmented reality (AR), mixed reality (MR), and digitalization in the fashion, retail, and art industries are the main factors for the metaverse industry growth.
• New product launches and contracts are expected to offer lucrative opportunities for the market players during the next five years.

1.Is the increasing demand in the entertainment and gaming industry becoming a significant growth driver for the metaverse market?

Interested to Know More about this Report, Request for a sample report

The media, entertainment and gaming industry has experienced rapid growth due to the rising popularity of AR, VR, and MR technologies. The widespread adoption of VR headsets, MR headsets, smart glasses, and other devices has enabled a first-person perspective, natural user interfaces, and 6-degree freedom, creating highly immersive virtual scenarios that enhance the gaming experience for users.

These technological advancements have significantly improved user experiences, providing realistic real-time interactions. The surging demand for extended reality devices has attracted substantial investments from major market players, driving the metaverse's integration and usage in the gaming and entertainment sectors.

2.High installation and maintenance costs of high-end metaverse components slightly restrains the market.

In the UK Metaverse market, the hardware components play a crucial role, including XR devices, semiconductor components, sensors, trackers, and cutting-edge equipment. For an authentic and captivating metaverse experience, fast networking, ample storage, and high-end hardware are essential, but these can be costly. Additionally, the devices used in the metaverse often incorporate 3D and other advanced technologies, further adding to their expenses.

Enterprise-grade metaverse software, including engines, 3D modeling tools, and rendering software, is also on the higher end of the cost spectrum. The installation of extended reality devices and solutions requires additional investments, and ongoing maintenance costs can further escalate the overall expenses associated with adopting metaverse technology in the UK. Consequently, these substantial upfront and recurring costs may pose challenges to the growth of the UK Metaverse market.

3.Based on vertical, the Consumer segment holds the largest market share among verticals during the forecast period

Visit this Link :- Request for custom report

The consumer segment in the metaverse market comprises two main sub-segments: Gaming and social media and live entertainment & other events. Within the realm of entertainment applications, metaverse technology is utilized in diverse settings such as museums, theme parks, art galleries, and exhibitions, offering captivating experiences.

Metaverse, in conjunction with XR technology, delivers impressive visual effects, particularly evident in gaming and sports broadcasts. The gaming industry has been quick to embrace innovative technologies like 3D, VR, and MR, elevating the gaming experience for players. These technologies enable the creation of virtual objects and characters seamlessly integrated into defined real-world locations. As a result, players can interact with and immerse themselves in these games, feeling as if they are part of a live gaming experience, thanks to meticulously designed engines and 3D modeling software.

The live entertainment and events category includes a wide range of activities, such as sports events, circus performances, music concerts, trade fairs, exhibitions, seminars, and more. Metaverse applications enrich the experience of these events, making them even more engaging and interactive for attendees.

The metaverse industry in Europe is experiencing a surge in consumer interest and willingness to explore its various applications, ranging from socializing to online shopping and attending entertainment events. This trend has prompted major brands to innovate and enhance customer experiences, driving the future growth of their businesses. Although the metaverse sector is still in its early stages of development, the outlook for robust growth over the next three to four years remains promising. As firms continue to invest in building the future of the internet, the metaverse is poised to become an integral part of people's lives and contribute significantly to the evolving digital landscape.

US Game Streaming Market stand at $ 150 Bn in 2022. Will it be able to climb the ladder of Global Market Index?: Ken Research

 Buy Now

The recent growing vast network of gamers, with the wake of Covid-19, game streaming has become a strong income for the game companies, which in turn leads to a growth to the market. Since 2020, market for game streaming is rising by ~11%, leading to a steady growth in selling of gaming consoles to selling games through online libraries.

STORY OUTLINE

• The US Game Streaming market is flourishing monetization to ensure the growth of gamers, especially the game streaming industry.
• Adoption of Streaming applications and an increase in internet penetration has marked the growth in this market.
• A great increase in high end computers and consoles, leads to a high engagement towards gaming and E-sports.
• Games Market is also marking the growth of Game Developing Companies.

1.The US Game Streaming market is flourishing monetization to ensure the growth of gamers, especially the game streaming industry.

Interested to Know More about this Report, Request for a sample report

• Gaming Industry has a particular revenue model that lets them earn seamlessly, providing safety via online transaction, marking a rise in the growth percentage.

For the game streaming industry to rise the Game developing companies need to flourish first. They have six different types of revenue models which makes the growth spike every month.

• Revenue models exploited by the game developing companies for paid games are:

1. Subscription Model- Which allows players to subscribe to the game or content in order to access it, making a revenue for the owner, per subscriptions.
2. Paid Games for Order- Which allows players to buy the game into their online or digital libraries like Steam, Origin, etc. allowing individuals to keep the game to them once bought.
3. Premium Model- It is a group of games that have a premium set of contents that needs to be bought using real money, which are sent directly to the owner, leaving 5% of the amount with the company.

• Revenue models for the companies selling free-to-play games, are:

1. a) Freemium- This is a certain model which allows the players to download a free to play games, but it will have certain advertisements in between, which once viewed generates a revenue and is transferred directly to the account.
2. b) Battle pass- This is a separate section of content that can be brought using real money, present mostly in the free to play games. Almost 40% of total gamers go for buying battle pass as once bought, it offers currency to keep the pass going even when a season ends.

• All these revenue model strive for an increase in the revenue generated from the number of people actively taking part in the games. Approximately 2 Bn gamers are actively participating in the gaming industry, making the market grow.

According to Ken Research, the rise in the Game streaming market came to rise like a flood owing to the wake of Covid-19. This first stage of a global pandemic shook the people restricting them to their homes, with almost 90% of the population not able to do anything other than stay at homes.

A steady decrease in the employment was recorded for the year, but with it a certain percentage of people rose to keep the income coming, known as “Gamers”.

 From teenagers to adults, girls to boys, many rose to invest their time in gaming, especially Competitive Games, which allows many players to team up at one time, making the engagement much more interactive.

With a current market size of $150 Billion in 2022, due to increased people streaming, the market is expected to grow exponentially in the upcoming year.

• A gradual increase in high-end parts for computers, high end consoles (like PS and Xbox) and thousands of games selling on online game libraries are making people come out of the stereotypic buying and reselling, and keeping the games to them forever with secure digital payments, like PayPal etc.

This resulted in gamers to showcase their games online, trying to get global recognition, with at least 55% of streamers active and earning by 2021. With websites like YouTube, Twitch, Facebook etc, people gets to broadcast their skills in an online platform with a subscriber and viewer model of payment.

• This rise in streaming has marked a rise in the growth of the budget in which companies like Twitch benefit from streamers, rising every year. Every streamer playing a game, lets the owner of the game earn a revenue while he is playing.

The games that have advertisements, such as the mobile games, have a subscription and in-app purchases model of monetization. Every individual opening the advertisement will let the owner of the game earn a certain percentage of money allowing them to grow.

While the in-app purchases are allowing players to buy in-game cosmetics, like ‘skins’, ‘agent dialogue package’, ‘emotes’, etc. which make their game playing look different than normal users and make their stream gain viewers and relative subscribers, resulting in an overall growth of the market.

2.Adoption of Streaming applications and an increase in Internet penetration has spiked the growth in this market.

• Streaming requires high end computers and cameras. A streamer has to set his setups and also make a place amongst the game communities to get proper views for the particular game he/she is streaming at that moment.
• Almost 40% of the online communities out there on online, social platforms are gamers, which enthuses every other gamer to stream and showcase their skills, leading for game streaming companies like Twitch, YouTube, GameCaster etc. to flourish due to people’s engagement.
• Total global population as of present times is 8 Billion people, among which almost 64% of the total are having an internet connection at their home, with Northern Europe ranking first with 97% Internet Penetration, and among the total population almost 41% of them are gamers with high-end internet connection and stations to play. This significantly marks the growth pillar where people from diverse nations are buying game, game content and earning by streaming or recording video content.
• Total of 60% of US population are gamers in today’s time and due to the presence of high end parts of computer and consoles. Live streaming has become a necessity for every gamer out there, streaming every other days in a week. With more high end computers and technologies being invented people’s engagement is increasing making the market grow.

3.A great increase in high end computers and consoles, leads to a high engagement towards gaming and E-sports.

 

Visit this Link :- Request for custom report

• Gamers are equally spending on the parts and physical hardware, leading to an equal growth of the computer hardware stores, spiking their growth as well. The US computer hardware market has grown significantly than what it was. At present time, the gaming industry is pushing its limits and spread its chain networks to more distant countries where games are not yet available in that quantity like China, Belgium, etc.
• For the non-availability of games in certain country, gaming communities came up with a new opportunity called “E-Sports”. This is a community of gamers who come together to setup tournaments and awareness about the rising games by holding live streams and podcasts just for games, so that people from different parts get to know about this and learn to engage more.
• A small entry fee is taken, which is not considered to be a matter of concern for most of the gamers. Once even participated, people will know that person and will have a viewer’s system for their streaming, leading for the streamer to stream more and generate more revenue, for that company in turn to flourish more with more active users.

4.Game Streaming marks a rise of awareness for people to engage more towards Games.

• Streaming has always been a best way for gamers to show their skills in a particular game. Above 20% of gamers in a particular community are well paid streamers, who earn at least $2000 a week, calculating to be a higher percentage of revenue annually.
• Celebrities and influencers like SenTenz, ACEU, IitzTimmy, and SHROUD etc. broadcast their games and teach other players how to master their own skills in the games, and how to be a better streamer in order to get more views and subscriptions. A 7% rise in the streamers are seen with such influencers posting or live streaming about topics like this, prospering and fueling other gamers.
• With the rise in streaming amongst communities, every gamer soon aspires to become a streamer, activating their monetization facilities and earn generated revenue. This makes a possible permanent player in this market, who will consistently earn and increase viewer’s engagement as well, resulting in an overall growth.

CONCLUSION

According to Ken Research, game streaming industry rises along with gaming industry, with the new technological advancements, heavier than usual internet penetration and larger human engagement towards this industry, leads to an overall growth in the market, leading to new streamers every month, who in turn gradually increase the streaming market’s revenue generated annually, and is growing ~11% annually.

KSA Seafood and Fish Feed Market Expected to Reach $900 Mn by 2027: Ken Research

 Buy Now

Story Outline

• Population growth fuels the demand for seafood, boosting the fish feed market in KSA.
• Economic prosperity drives preference for nutritious seafood, fueling fish feed market growth.
• Governments Vision 2030 promote aquaculture and sustainable practices, propelling fish feed market growth.
• Health consciousness increases demand for nutritious seafood, driving fish feed market growth.
• Technological advancements improve fish farming efficiency, stimulating the fish feed market in KSA.

The Kingdom of Saudi Arabia (KSA), renowned for its oil wealth and sacred Islamic sites, is emerging as a significant player in the seafood and fish feed market. This transformation is intriguing, given that the desert nation has historically relied on seafood imports to meet its demand.

Several factors contribute to this positive shift, including population growth, a rise in income levels, supportive government initiatives, enhanced health awareness, and industry-specific technological advancements.

According to Ken Research, The KSA Seafood and Fish Feed Market is expected to reach $900 Mn by 2027, currently the market is growing at a CAGR of ~11% in 2022.

5 Major Reason for the Growth of the KSA Seafood and Fish Feed Market are:

1.The Rising Population Tide

Interested to Know More about this Report, Request for a sample report

Saudi Arabia's population has been on a steady rise, reaching approximately 35 million in 2021, with an annual growth rate of about 1.59%.

This demographic trend invariably propels a surging demand for food. Given the protein-rich nature of seafood, it's particularly sought after, more so due to the global shift towards healthier dietary habits.

The World Health Organization's dietary guidelines recommend a weekly intake of 280-560 grams of fish.

Applying this guideline to Saudi Arabia's current and projected population, the demand for seafood and, consequently, fish feed, is anticipated to escalate. This population-driven demand creates a robust market for the seafood industry, and by extension, the fish feed market.

In aquaculture, the significance of quality feed is paramount. Efficient growth, health, and productivity of fish heavily rely on their diet.

As the population fuels the demand for seafood, the requirement for high-quality fish feed is set to rise proportionately, paving the way for a thriving fish feed market in KSA.

2.The Impact of Economic Growth on Dietary Preferences

As Saudi Arabia rides the wave of economic prosperity, its GDP per capita has been on an upward trajectory, from $20,813 in 2016 to an estimated $23,566 in 2021. This rising affluence is not just elevating living standards but also transforming dietary preferences.

With higher disposable income, the Saudi populace is exhibiting a growing inclination towards diverse and nutritious dietary choices.

Seafood, rich in essential nutrients like Omega-3 fatty acids and proteins, is progressively becoming a favored choice. This trend has catalyzed the seafood industry's growth and has created a ripple effect on the fish feed market.

The quality and type of fish feed significantly influence the nutritional value and taste of the seafood.

As consumers demand healthier and tastier seafood options, the fish feed market needs to innovate and provide feed solutions that help produce such desired seafood qualities.

Hence, economic prosperity indirectly nudges the fish feed market towards growth and innovation.

3.Major Government Initiatives and Policies

Visit this Link :- Request for custom report

The Saudi government has been instrumental in facilitating the growth of the seafood and fish feed market.

As part of its ambitious Vision 2030 strategy, the government aims to achieve substantial self-sufficiency in seafood production. The goal is to produce 600,000 tons of seafood by 2030, thereby reducing the nation's dependence on imports.

This target is a catalyst for investments in the aquaculture industry and allied sectors, including fish feed.

Initiatives like these drive the demand for quality fish feed, necessary to enhance the productivity and efficiency of fish farms, thereby fueling the fish feed market's growth.

Furthermore, the Saudi government's commitment to sustainable practices translates into regulations and policies that promote responsible aquaculture.

These policies mandate the use of quality fish feed that ensures optimal fish health and growth while minimizing environmental impact.

The regulatory push for sustainable practices provides a significant impetus to the fish feed market, reinforcing its growth prospects.

4.Increasing Health Consciousness and Its Impact

The global wellness wave is making substantial inroads into Saudi Arabia, and an increasing number of Saudis are becoming conscious about their health and wellness.

They're increasingly seeking nutritious and healthy dietary options, with seafood emerging as a top choice due to its beneficial nutrient profile.

Studies reveal a steady rise in fish consumption in KSA, from 9 kg per person per year in 2012 to 14 kg in 2018. As more people lean towards consuming heart-friendly and nutrient-rich seafood, the demand for healthy and high-quality seafood is intensifying.

This escalating demand indirectly impacts the fish feed market. Fish farmers require high-quality feed to rear healthy fish that meet consumer demands.

Hence, the growing health consciousness and the consequent demand for nutritious seafood promise a strong market for fish feed manufacturers who can deliver on these expectations.

5.Modern Techniques and Fish Feed Innovations

Funds Raised Startups Sea Food Sector KSA

The role of technology in the seafood and fish feed market is pivotal.

Technological advancements, especially in fish farming and fish feed formulation, have improved the industry's efficiency and productivity.

For instance, the use of Recirculating Aquaculture Systems (RAS) enables fish farming in controlled environments, ensuring optimal growth conditions and minimizing disease risks.

The application of AI in monitoring fish health and growth has also enhanced farming efficiency. These modern farming techniques have helped increase seafood production, indirectly escalating the demand for fish feed.

Simultaneously, there's a revolutionary change in fish feed formulation.

Research and development in this sector are leading to new feed formulations that enhance fish growth, health, and yield while maintaining sustainability.

As these technological breakthroughs continue to permeate the industry, the seafood and fish feed market in KSA is poised for significant growth.

Conclusion:

The growth narrative of the KSA seafood and fish feed market is a fascinating blend of demographic, economic, policy-driven, health-conscious, and technology-enabled factors. These drivers are working synergistically to shape a vibrant future for the seafood industry and the closely linked fish feed market.

The US Identity Verification Market is going through a change and will have massive growth by 2028: Ken Research

Buy Now

The US Identity Verification Market is varyingly segmented under End-User industry such as financial market and gaming/gambling market etc. is based on matching a user’s identity with their Government ID proof. The US Identity Verification market is projected to reach ~$ 13 Billion by the year 2028.

STORY OUTLINE

• With the increasing demand for security and rising regulatory compliances, US Identity Verification market makes some propulsions for growth.
• With technological advancements like Artificial Intelligence (AI) and Machine Learning (ML), US Identity Verification market soars higher.
• The shift towards digital transformation, post pandemic, has resulted in the increase in use of verification, resulting in the growth of the market.
• Rise in customer expectation is driving the US Identity Verification Market to follow strict workflow.
• Digital transformation demands the need for better security.

According to Ken Research, the US Identity Verification market is undergoing major changes driven by many factors to change the ongoing digital landscape. With the changing times, inhabitants have largely shifted towards digitization and adoption of online or e-services, which led to the demand for better security and high end verification methodologies. This particular shift towards digital processing has led to growth within this industry.

• The relentless rise in fraudulent cases, rapid rise of online theft and presence of hackers has led the US Identity Verification market to incorporate much more sophisticated technologies.
• With growing number of customers in e-services, number of frauds and amount of cases has gone up, which has driven the industry to acknowledge to those concerns and build adequate measures to prevent any mishaps in the future.

1.With the increasing demand for security and rising regulatory compliances, US Identity Verification market makes some propulsions for growth.

Interested to Know More about this Report, Request for a sample report

• Due to a massive digitization process, identity verification has become that much increasing in number, leading to overall growth, making 90% of the people undergo identity verification, starting from the gates of IT offices having fingerprint to bank accounts that ask for KYC while creating a new account.
• At least 70% of Americans are using Fingerprint Scanners for various purposes which is one of the most quickest and complex protocol following identity verification method. With more IT sectors developing much simpler fingerprint scanners, people can easily shift many identities verification to a simple touch on the scanner, resulting in a overall growth.
• Since Covid-19 and complete digitization occurred, the need for online purchasing has made the amount of online verification rise. With a rise of 12% from the previous years, the market has been ever-growing. With newer methods like biosensors, facial recognizers etc. are helping make the job that much simple.

2.With technological advancements like Artificial Intelligence (AI) and Machine Learning (ML), US Identity Verification market soars higher.

• In a recent times, Dan Aiello sheds light on "the new normal" and explores its potential evolution in the context of identity verification and digital transformations. This is basically the change into online or E-verification for all types of platforms, which at least 90% of the population is currently using.
• The US Government has made many legislative inclusions which are to pave the way for an unbiased Artificial Intelligence as a core digital identifier, among which, the White House has developed a blueprint about a bill of right for AI stating that people should never face discriminations from algorithms, making people’s engagement increase in amount.
• A giant in the financial services sectors, Stripe, is now incorporated with AI and Machine Learning (ML), which takes a live selfie of the user and compares it with their pre-kept government ID, making the verification much simpler and easy to use for every people, keeping its access to everyone.

3.The shift towards digital transformation, post pandemic, has resulted in the increase in use of verification, resulting in the growth of the market.

Visit this Link :- Request for custom report

• As the pandemic situation brought about a global digitization in almost everything, business and industries started to adapt to the new normal, showing a surge in the online activities, remote work, digital services etc. all marking a growth in the verification process.
• The increase in E-commerce, virtual meetings, online banking and telemedicine, marked the need for a greater amount of scalable verification in order to prevent the previously occurring fraudulent activities, theft and protecting the exact data.
• The rise in KYC (Know-Your-Customer) and AML (Anti-Money-Laundering) has led to the updraft of KYC-as-a-Service solutions, which pre-verified identity data, streamlining the on boarding and ensuring that regulatory requirements are met.

4.Rise in customer expectation is driving the US Identity Verification Market to follow strict workflow.

• With much more enhanced security like real time scanning, US identity verification market is making their ways towards a much safer and secure border for transaction and e-commerce platforms, having a complex firewall to double the security.
• With a seamless user experience making sure that customers are getting zero disruption, full automation and having the ease of multi-channel verification allows the customer to be flexible and use a variety of platforms, making the growth much more.
• With complex AI algorithms, hacking and money laundering are reduced by 5% every 6 months, depicting a much greater decrease in fraudulent cases and increase in the growth by the year.

CONCLUSION

According to Ken Research, the global pandemic has paved the way for digitization; a new world which has much faster transaction and faster processing which leads to increase in frauds and hacking, leading for the identity verification market to flourish with it. By the year 2028, the US Identity Verification Market will have the upper hand dominance.

The Philippines Data Center Market is Expected to Reach $600 Mn by 2027: Ken Research

 Buy Now

The Philippines a country located in southern Asia has witnessed remarkable growth in the field of data center market. With 84.6 Mn smartphone users currently the data market revenue of the country is at an all-time high. The Philippines currently have a total of 26 data centers and it’s expected to grow more in the upcoming years.

Story Outline

• The Philippines has emerged as one of the fastest-growing markets for data centers in the whole of Southeast Asia in recent years. Its data center market is expected to grow at double CAGR in the upcoming years.
• Manila capital of the Philippines is the main and most important region of the Data Center Market in the country.
• Philippines is embracing digitalization by receiving assistance from cloud providers like Amazon web services, Google, and Tencent Cloud

1.Easy access to the internet is the reason behind the growing data center market.

• Almost 67% of the Philippines population has access to the internet which results in 76 Mn active internet subscribers as of 2022.
• The internet subscribers of the Philippines are supposed to be 92 Mn in 2027 whereas smartphone users will rise to 93 Mn.
• This rapid change in digitalization will further enhance the data center market of the Philippines and will attract more and more investors to the market.

Interested to Know More about this Report, Request for a sample report

As per Ken Research, the Philippines data center market is expected to reach ~ 600 Mn USD by 2027 owing to reasons like heavy internet penetration in the country and a wave of digitalization. Currently, the market is growing at a CAGR of 7.9% between 2018 – 2022.

2.Digitalization in the country influencing the data center revenue

• Filipinos are considered the heaviest users of the Internet and social media in Southeast Asia which is one of the factors why the data center market is growing rapidly in the region. Currently, the Internet penetration rate is ~73.1% in the country.
• Digital payments are also one of the major contributors to growth in the data center market of the Philippines. When it comes to making online payments around 23% of male and 26% of the female population have actively used digital modes of payment in 2022.
• As of 2020, almost 25 Mn local population was using mobile wallets for digital payments. Domestic companies like GCash and Maya were leading this market in the Philippines. Around ~26% of retail transactions were recorded in the year 2020. In 2021, 61 Mn users of digital payment methods were recorded in the country.
• In the year 2019, the central bank of the Philippines “The Bangko Sental ng Pilipinas” launched QR PH for peer-to-peer (P2P) payments. Just three years later in 2022, users of this payment method increased by 70 percent. Heavy internet penetration and a wave of digitalization are some of the major reasons behind this huge jump in P2P payments.

3.Key Players of the Data Center Market of the Philippines

• ePLDT, Globe Telecom, Total Information Management, PHCOLO, Beeinfotech, and others are the major players in the data center market in the country.
• ePLDT is the market leader with the highest market share. At the moment, ePLDT has 10 world-class data centers across the country and rules more than half of the data center market.
• In addition, the firm is planning to launch its 11^th and most advanced data center in 2024 with a 50 Mw capacity. President and CEO of ePLDT Victor S. Genuino recently disclosed plans for the company to establish a 12th data center facility in the nation.

Visit this Link :- Request for custom report

4.Future of the Data Center Market in the Philippines

• The market is further projected to witness major investments by new entrants. It is estimated that by 2028, the data center market of the Philippines is trying to double its data center market capacity by increasing the number of data center facilities.
• Leading player of the market ePLDT is planning to launch its 12^th data center in the region with a capacity of 100 Mw.
• Philippines as a data center market is on its path to digitalization and cloud providers like Amazon web services, Google, and Tencent Cloud are assisting and helping the country in this transformation.

5.Major Government Initiatives for the Data center market in the country

• One of the major factors behind the growth of the data market industry in the Philippines is the supportive cloud policy by the organizations.
• The pandemic of Covid-19 has also forced businesses to shift towards digitalization in recent years.
• Growth of the e-commerce sector and investments of foreign players like Beeinfotech and Alibaba has also enabled the market to grow significantly. Alibaba has committed to invest around $1 Billion to develop the Philippines’ digital pool in the next three years.
• On the other hand, in 2022, Beeinfotech launched a data center facility in the Philippines with an investment of around $100Mn to boom its cloud services in the region.

Conclusion

The Philippines is a growing market for the data center in southeast Asia and the development of the data center market in the country in recent years is showing that it can become a hub of data centers. With 84.6 Mn smartphone users and 76 Mn active internet users shows how fast the country is heading towards digitalization. The wave of digitalization will help the country to enhance its strength of data centers in the coming years. Along with current market players data center market of the Philippines is expected to receive huge investments from foreign investors also in the next five years.