Metaverse Market Research Report | USD 1,237 Billion by 2030, at a CAGR of 40.4% – Says Allied Market Research
The global metaverse market is analyzed across component, technology, application, industry vertical, and region.
PORTLAND, OR , UNITED STATES, UNITED STATES, September 28, 2022 /EINPresswire.com/ — the global metaverse market size was estimated at USD 41.9 billion in 2020 and is expected to hit USD 1,237 billion by 2030, registering a CAGR of 40.4% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Major industry players such as – ByteDance Ltd, Facebook, Inc., Huawei Technologies Co. Ltd., Nextech AR Solutions Inc., Unity Technologies, NVIDIA Corporation, Roblox Corporation, Alibaba Group Holding Limited, Shenzhen Zqgame Co., Ltd, and Tencent.
Rise in popularity of cryptocurrencies and non-fungible tokens (NFTs) drives the global metaverse market. A positive drive toward decentralized network technology is projected to pave the way for lucrative opportunities in the industry.
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Based on component, the hardware segment contributed to more than half of the total market revenue in 2020, and is projected to lead the trail by 2030. The service segment, however, would exhibit the fastest CAGR of 42.7% during the forecast period.
Based on application, the gaming segment generated the highest share in 2020, accounting for more than one-fifth of the global market. The content creation and social media segment would portray the fastest CAGR of 43.7% from 2021 to 2030.
Based on region, the market across North America held the major share in 2020, garnering nearly two-fifths of the global market. The Asia-Pacific region, on the other hand, would manifest the fastest CAGR of 42.5% throughout the forecast period.
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Covid-19 scenario-
• Increase in work from home culture and social distancing norms initiated in the COVID-19 lockdowns aided in promoting demand for metaverse platforms throughout the period, which positively impacted the market.
• This trend is most likely to continue post pandemic as well.
Segmental analysis of the market is provided in both qualitative and quantitative aspects. This aids the clients in identifying the most lucrative segment to go on with investments, on the basis of a complete backend analysis concerning the segmental presentation, coupled with brief salutation of the operating organizations and their important developmental activities.
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The market numbers are verified by means of numerous data triangulation techniques. Additionally, reliable industry journals, accurate press releases from trade association, and government websites have also been revised for producing exclusive industry insights.
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