Metaverse Market to Expand with Increasing emphasis on developing metaverse platforms for education sector
Metaverse Market Size Worth USD 828.95 Billion in 2028
VANCOUVER, BC, CANADA, March 14, 2022 /EINPresswire.com/ — Rising focus on converging digital and physical worlds through the Internet and the recent COVID-19 outbreak are key factors driving market revenue growth, The detailed market intelligence report on the Metaverse market applies the best of both primary and secondary research to weighs upon the competitive landscape and the prominent market players expected to dominate the Metaverse market for the forecast period, The study not only scans through the company profile of the major vendors but also analyses their winning strategies to give business owners, stakeholders and field marketing personnel a competitive edge over others operating in the same space. A detailed evaluation of the major events such as acquisition and mergers, collaborations, product launches, new entrants, and technology advancements offer a complete overview of what the future of the Metaverse market will be like in the years to come.
The global metaverse market size reached USD 47.69 Billion in 2020 and is expected to register a revenue CAGR of 43.3% during the forecast period, according to latest analysis by Emergen Research. Rising focus on converging digital and physical worlds through internet and the recent COVID-19 outbreak are expected to support market revenue growth between 2021 and 2028. In addition, increasing emphasis on developing metaverse platforms for education industry will continue to boost revenue growth of the market.
Korea Advanced Institute of Science and Technology (KAIST) intends to develop a virtual campus in Kenya, which will start in September 2023 in Konza Technopolis in nearby Nairobi. The university desires to develop a metaverse that will run classrooms and provide an immersive learning opportunity on campus through the use of augmented reality, virtual reality, and eye tracking technology. Soonchunhyang University in Korea arranged a virtual welcoming event for freshers to participate as avatars.
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However, issues about identity and reputation in metaverse are expected to hamper market revenue growth during the forecast period. When it comes to the real world, the issue of personal identity and representation is quite easy. However, when it comes to virtual worlds, verification of users is quite difficult as another individual or even a bot can attempt to replicate actual identity.
The report is a comprehensive research study of the global Metaverse market inclusive of the latest trends, growth factors, developments, opportunities, and competitive landscape. The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report is formulated with data gathered from primary and secondary research examined and validated by industry experts. The report provides an overview of the market leaders, segmentation by type, application, and region, and technological advancements.
The report further explores the key business players along with their in-depth profiling, product catalog, and strategic business decisions. The key players studied in the report are Facebook, Inc., Tencent Holdings Ltd., ByteDance Ltd., NetEase, Inc., Nvidia Corporation, Epic Games, Inc., Roblox Corporation, Unity Technologies, Inc., Lilith Games, and Nextech AR Solutions Corp.
Emergen Research has segmented global metaverse on the basis of component, platform, offerings, technology, application, end-use, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
Hardware
Displays
eXtended Reality (XR) Hardware
Haptic Sensors & Devices
Smart Glasses
Omni Treadmills
AR/VR Headsets
Software
Asset Creation Tools
Programming Engines
Platform Outlook (Revenue, USD Billion; 2018–2028)
Desktop
Mobile
Offerings Outlook (Revenue, USD Billion; 2018–2028)
Virtual Platforms
Asset Marketplaces
Avatars
Financial Services
Technology Outlook (Revenue, USD Billion; 2018–2028)
Blockchain
Virtual Reality (VR) & Augmented Reality (AR)
Mixed Reality (MR)
Application Outlook (Revenue, USD Billion; 2018–2028)
Gaming
Online Shopping
Content Creation
Social Media
Conference
Virtual Runway Shows
Aircraft Maintenance
Others
End-use Outlook (Revenue, USD Billion; 2018–2028)
Fashion
Media & Entertainment
Education
Aerospace & Defence
Others
Regional Bifurcation of the Metaverse Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report aims to provide a complete analysis of the global Metaverse market with important details about the key market players from insightful primary and secondary research data. The report also aims to benefit the user by providing constructive data to gain insight into market growth, size, and investment approaches. Additionally, the report provides an extensive analysis of the Metaverse market, including key data, such as factors influencing the growth of the market, buyers and vendors, production and consumption, and revenue.
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Highlights of Table of Contents (TOC):
Overview of Global Metaverse Market
Competitive analysis of the Metaverse market
Regional analysis of Global market production and revenue
Regional analysis of Global Metaverse market supply, consumption, and export & import
Type-based market analysis of global production, revenue, and price trends
Application-based analysis of the global market
Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global market
Global market forecast (2020-2027)
Conclusion of the research report
Appendix
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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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