Global Players Dominate the Metaverse Market Holding ~60% of Revenue Share Despite Presence of ~500 Competitors Comprising a Large Number of Regional Players and Country-Niche Players, finds a recent market study on Global Metaverse Market by Ken Research
Metaverse can be defined as an
integrated network of a 3D virtual world that allows the users to have virtual
interaction. It is the digital reality that combines the aspects of virtual
reality, augmented reality, and mixed reality. Some of the major end users of
the metaverse include healthcare, gaming, social media & live events, and
others. Ken Research shares 3 key insights on the competitive landscape of this
dynamic market from its latest research study.
1. Global
Players Who Comprise 10% in Terms of Number of Competitors Hold Dominant
Revenue Share
Competitive Analysis by the Ken
Research Study found that
the Global Metaverse market is highly competitive with ~500 players which
include globally diversified players, country-niche players as well as a large
number of regional players having their own niche in metaverse development and
execution for specific segments. The global players comprise just about 10% in
terms of the number of companies, followed by regional players accounting for
~30% in terms of the number of companies.
2. Global
Players Ongoing Efforts to Offer Metaverse Solutions to A Variety Of End-Users
Drives The Growth Of Market
Detailed comparative analysis of
key competitors available within the Research Study shows that key
players such as Unity, and Epic Games are highly focused on offering advanced
metaverse technology such as virtual reality, augmented reality, mixed reality,
and advanced techniques that can be used across multiple industries, including
gaming, aerospace and defense, industrial manufacturing, education, healthcare
and many more. Furthermore, several companies and organizations are
aggressively investing in R&D to provide users with the best Metaverse
Technology.
- In 2021, Meta Platforms, an operator of social
media technology, invested US$10 Billion to start the Metaverse, and as
per the study, the metaverse market is expected to increase over the
coming years. Meta Platform seems to take a big step toward monetizing the
Metaverse through its social platform called Horizon Worlds Virtual
Reality (V.R).
3. The
COVID-19 Pandemic Led to Significant Growth of Metaverse Platforms as There Was
a Rise in Investment from Companies
COVID-19 pandemic has increased
the need of Metaverse as it substitutes actual human interaction with the
digital world where user can interact with each other. This provoked many
companies to grab this opportunity to expand their products and service into
the metaverse platform. For instance, in November 2020, Roblox an online gaming
platform host its first virtual concert during the pandemic which attracted
12.3 million concurrent players.
Moreover, the increase in
work-from-home culture and social distancing norms that were incorporated
during COVID-19 helped in promoting for demand Metaverse Platforms.
Increased
Adoption of Metaverse Around The Globe Led To Major Industry-Wide Developments,
Acquisitions, Collaborations, And Deal-Wins
- In February 2022, Spire Animation raised a US$
20 million funding round, for the investment in Epic Games to collaborate
and build a Metaverse experience. Epic Games a three-dimensional creation
tool Unreal Engine will integrate with the Spire feature animation
pipeline to build the metaverse.
- In October 2021, Facebook changed its name to
Meta Platform Inc to show its interest in Metaverse. The company have
announced US$150 million to train creators in building immersive content
for the people and also working with game engine developer Unity to create
Virtual Reality and Augmented Reality Content.
In January 2022, Tencent acquired
the Xiaomi-backed gaming smartphone brand Black Shark. The company is one of
the largest gaming smartphone manufacturers in China. Tencent will acquire
Black Shark for USD 420 million as it will provide games and content to the
hardware mark
For More
Information, refer to below link:-
Virtual
Reality Hardware Device Manufacturers
Related Report
Contact Us:-
Ken
Research
Ankur
Gupta, Head Marketing & Communications
