Product Code: PM2661
The global metaverse market size is expected to reach USD 680.80 billion by 2030, according to a new study by Polaris Market Research. The report "Metaverse Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software, Service); By Technology; By Application; By Industry Vehicle; By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The metaverse is an online reality that is an amalgamation of online gaming, social media, augmented reality (AR), virtual reality (VR), and cryptocurrencies, wherein users can interact with each other virtually. Augmented reality showcases visual features, noise, and other sensory input in real-life situations to augment the user experience.
Moreover, during COVID-19, when governments across the world announced lockdown and people were working from home, the key vendors introduced such platforms as a replacement for outdoor social interaction in the comfort of a user's home, hosting highly public events such as music concerts and meetups to offer virtual tour opportunities to famous global landmarks. Such use cases of these platforms drove its growth during the period.
Based on a study, in April 2022, the average time spent on social media increased from just 1 hour in 2012 to over 2 hours and 24 minutes in 2020. Moreover, time spent on social media platforms was heavily inflated during the pandemic, as people stuck in their homes relied on social media platforms for interactions with their peers, friends, and family. Such factors further supported the growth of metaverse platforms during the period.
Furthermore, these platforms provided businesses with easily interact with their audiences and customers, which led to their engagement and hence overall customer satisfaction. This led to a rise in the growth of the industry during the period.
Metaverse Market Report Highlights
Software segment is expected to hold a significant share in 2021, due to the appealing interface and intuitiveness of the software
Content creation and social media is expected to be the most lucrative segment, owing to the growing content creators across the globe and surge in need for metaverse platform by various content creators
North America region will lead the global market by 2030 on account of presence of leading players in the region, greater technological adoption, and rise in investment in development of new technologies
The global market is highly competitive owing to the existence of large market players with global presence including include Alibaba Group Holding Limited, ByteDance Ltd, Facebook, Inc., Huawei Technologies Co. Ltd., Meta, Microsoft Corporation, Nextech AR Solutions Inc., NVIDIA Corporation, Roblox Corporation, and Sandbox VR among others
Polaris Market Research has segmented the metaverse market report based on component, technology, application, industry vertical and region:
Metaverse, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Hardware
Software
Service
Metaverse, Technology Outlook (Revenue - USD Billion, 2018 - 2030)
Blockchain
Virtual Reality and Augmented Reality
Mixed Reality
Others
Metaverse, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Digital Marketing
Content Creation and Social Media
Gaming
Events and Conference
Online Shopping
Testing and Inspection
Others
Metaverse, Industry Vertical Outlook (Revenue - USD Billion, 2018 - 2030)
Retail
Media & Entertainment
BFSI
Others
Metaverse, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Metaverse Market Insights
- 4.1. Metaverse - Industry Snapshot
- 4.2. Metaverse Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing demand in the entertainment and gaming industry
- 4.2.1.2. Continuous development in 5G technology
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Health and mental issues from excessive use
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Metaverse Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Metaverse Market, by Application
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 5.3. Digital Marketing
- 5.3.1. Global Metaverse Market, by Digital Marketing, by Region, 2018 - 2030 (USD Billion)
- 5.4. Content Creation and Social Media
- 5.4.1. Global Metaverse Market, by Content Creation and Social Media, by Region, 2018 - 2030 (USD Billion)
- 5.5. Gaming
- 5.5.1. Global Metaverse Market, by Gaming, by Region, 2018 - 2030 (USD Billion)
- 5.6. Events and Conference
- 5.6.1. Global Metaverse Market, by Events and Conference, by Region, 2018 - 2030 (USD Billion)
- 5.7. Online Shopping
- 5.7.1. Global Metaverse Market, by Online Shopping, by Region, 2018 - 2030 (USD Billion)
- 5.8. Testing and Inspection
- 5.8.1. Global Metaverse Market, by Testing and Inspection, by Region, 2018 - 2030 (USD Billion)
- 5.9. Others
- 5.9.1. Global Metaverse Market, by Others, by Region, 2018 - 2030 (USD Billion)
6. Global Metaverse Market, by Component
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 6.3. Hardware
- 6.3.1. Global Metaverse Market, by Hardware, by Region, 2018 - 2030 (USD Billion)
- 6.4. Software
- 6.4.1. Global Metaverse Market, by Software, by Region, 2018 - 2030 (USD Billion)
- 6.5. Service
- 6.5.1. Global Metaverse Market, by Service, by Region, 2018 - 2030 (USD Billion)
7. Global Metaverse Market, by Technology
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 7.3. Blockchain
- 7.3.1. Global Metaverse Market, by Blockchain, by Region, 2018 - 2030 (USD Billion)
- 7.4. Virtual Reality and Augmented Reality
- 7.4.1. Global Metaverse Market, by Virtual Reality and Augmented Reality, by Region, 2018 - 2030 (USD Billion)
- 7.5. Mixed Reality
- 7.5.1. Global Metaverse Market, by Mixed Reality, by Region, 2018 - 2030 (USD Billion)
- 7.6. Others
- 7.6.1. Global Metaverse Market, by Others, by Region, 2018 - 2030 (USD Billion)
8. Global Metaverse Market, by Industry Vertical
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Global Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 8.3. Retail
- 8.3.1. Global Metaverse Market, by Retail, by Region, 2018 - 2030 (USD Billion)
- 8.4. Media & Entertainment
- 8.4.1. Global Metaverse Market, by Media & Entertainment, by Region, 2018 - 2030 (USD Billion)
- 8.5. BFSI
- 8.5.1. Global Metaverse Market, by BFSI, by Region, 2018 - 2030 (USD Billion)
- 8.6. Others
- 8.6.1. Global Other Metaverse Market, by Region, 2018 - 2030 (USD Billion)
9. Global Metaverse Market, by Geography
- 9.1. Key findings
- 9.2. Introduction
- 9.2.1. Metaverse Market Assessment, By Geography, 2018 - 2030 (USD Billion)
- 9.3. Metaverse Market - North America
- 9.3.1. North America: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.3.2. North America: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.3.3. North America: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.3.4. North America: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.3.5. Metaverse Market - U.S.
- 9.3.5.1. U.S.: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.3.5.2. U.S.: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.3.5.3. U.S.: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.3.5.4. U.S.: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.3.6. Metaverse Market - Canada
- 9.3.6.1. Canada: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.3.6.2. Canada: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.3.6.3. Canada: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.3.6.4. Canada: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.4. Metaverse Market - Europe
- 9.4.1. Europe: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.4.2. Europe: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.4.3. Europe: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.4.4. Europe: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.4.5. Metaverse Market - UK
- 9.4.5.1. UK: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.4.5.2. UK: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.4.5.3. UK: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.4.5.4. UK: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.4.6. Metaverse Market - France
- 9.4.6.1. France: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.4.6.2. France: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.4.6.3. France: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.4.6.4. France: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.4.7. Metaverse Market - Germany
- 9.4.7.1. Germany: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.4.7.2. Germany: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.4.7.3. Germany: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.4.7.4. Germany: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.4.8. Metaverse Market - Italy
- 9.4.8.1. Italy: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.4.8.2. Italy: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.4.8.3. Italy: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.4.8.4. Italy: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.4.9. Metaverse Market - Spain
- 9.4.9.1. Spain: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.4.9.2. Spain: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.4.9.3. Spain: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.4.9.4. Spain: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.4.10. Metaverse Market - Netherlands
- 9.4.10.1. Netherlands: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.4.10.2. Netherlands: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.4.10.3. Netherlands: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.4.10.4. Netherlands: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.4.11. Metaverse Market - Russia
- 9.4.11.1. Russia: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.4.11.2. Russia.: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.4.11.3. Russia: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.4.11.4. Russia: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.5. Metaverse Market - Asia Pacific
- 9.5.1. Asia Pacific: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.5.2. Asia Pacific: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.5.3. Asia Pacific: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.5.4. Asia Pacific: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.5.5. Metaverse Market - China
- 9.5.5.1. China: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.5.5.2. China.: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.5.5.3. China: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.5.5.4. China: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.5.6. Metaverse Market - India
- 9.5.6.1. India: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.5.6.2. India.: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.5.6.3. India: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.5.6.4. India: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.5.7. Metaverse Market - Japan
- 9.5.7.1. Japan: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.5.7.2. Japan.: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.5.7.3. Japan: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.5.7.4. Japan: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.5.8. Metaverse Market - Malaysia
- 9.5.8.1. Malaysia: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.5.8.2. Malaysia.: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.5.8.3. Malaysia: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.5.8.4. Malaysia: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.5.9. Metaverse Market - Indonesia
- 9.5.9.1. Indonesia: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.5.9.2. Indonesia.: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.5.9.3. Indonesia: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.5.9.4. Indonesia: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.5.10. Metaverse Market - South Korea
- 9.5.10.1. South Korea: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.5.10.2. South Korea.: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.5.10.3. South Korea: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.5.10.4. South Korea: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.6. Metaverse Market - Middle East & Africa
- 9.6.1. Middle East & Africa: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.6.2. Middle East & Africa: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.6.3. Middle East & Africa: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.6.4. Middle East & Africa: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.6.5. Metaverse Market - Saudi Arabia
- 9.6.5.1. Saudi Arabia: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.6.5.2. Saudi Arabia: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.6.5.3. Saudi Arabia: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.6.5.4. Saudi Arabia: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.6.6. Metaverse Market - South Africa
- 9.6.6.1. South Africa: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.6.6.2. South Africa: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.6.6.3. South Africa: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.6.6.4. South Africa: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.6.7. Metaverse Market - Israel
- 9.6.7.1. Israel: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.6.7.2. Israel: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.6.7.3. Israel: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.6.7.4. Israel: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.6.8. Metaverse Market - UAE
- 9.6.8.1. UAE: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.6.8.2. UAE: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.6.8.3. UAE: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.6.8.4. UAE: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.7. Metaverse Market - Latin America
- 9.7.1. Latin America: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.7.2. Latin America: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.7.3. Latin America: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.7.4. Latin America: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.7.5. Metaverse Market - Mexico
- 9.7.5.1. Mexico: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.7.5.2. Mexico: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.7.5.3. Mexico: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.7.5.4. Mexico: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.7.6. Metaverse Market - Brazil
- 9.7.6.1. Brazil: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.7.6.2. Brazil: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.7.6.3. Brazil: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.7.6.4. Brazil: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
- 9.7.7. Metaverse Market - Argentina
- 9.7.7.1. Argentina: Metaverse Market, by Application, 2018 - 2030 (USD Billion)
- 9.7.7.2. Argentina: Metaverse Market, by Industry Vertical, 2018 - 2030 (USD Billion)
- 9.7.7.3. Argentina: Metaverse Market, by Component, 2018 - 2030 (USD Billion)
- 9.7.7.4. Argentina: Metaverse Market, by Technology, 2018 - 2030 (USD Billion)
10. Competitive Landscape
- 10.1. Expansion and Acquisition Analysis
- 10.1.1. Expansion
- 10.1.2. Acquisitions
- 10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
- 11.1. Alibaba Group Holding Limited
- 11.1.1. Company Overview
- 11.1.2. Financial Performance
- 11.1.3. Product Benchmarking
- 11.1.4. Recent Development
- 11.2. ByteDance Ltd
- 11.2.1. Company Overview
- 11.2.2. Financial Performance
- 11.2.3. Product Benchmarking
- 11.2.4. Recent Development
- 11.3. Facebook, Inc
- 11.3.1. Company Overview
- 11.3.2. Financial Performance
- 11.3.3. Product Benchmarking
- 11.3.4. Recent Development
- 11.4. Huawei Technologies Co. Ltd.
- 11.4.1. Company Overview
- 11.4.2. Financial Performance
- 11.4.3. Product Benchmarking
- 11.4.4. Recent Development
- 11.5. Meta
- 11.5.1. Company Overview
- 11.5.2. Financial Performance
- 11.5.3. Product Benchmarking
- 11.5.4. Recent Development
- 11.6. Microsoft Corporation
- 11.6.1. Company Overview
- 11.6.2. Financial Performance
- 11.6.3. Product Benchmarking
- 11.6.4. Recent Development
- 11.7. Nextech AR Solutions Inc
- 11.7.1. Company Overview
- 11.7.2. Financial Performance
- 11.7.3. Product Benchmarking
- 11.7.4. Recent Development
- 11.8. NVIDIA Corporation
- 11.8.1. Company Overview
- 11.8.2. Financial Performance
- 11.8.3. Product Benchmarking
- 11.8.4. Recent Development
- 11.9. Roblox Corporation
- 11.9.1. Company Overview
- 11.9.2. Financial Performance
- 11.9.3. Product Benchmarking
- 11.9.4. Recent Development
- 11.10. Sandbox VR
- 11.10.1. Company Overview
- 11.10.2. Financial Performance
- 11.10.3. Product Benchmarking
- 11.10.4. Recent Development
- 11.11. Shenzhen Zqgame Co., Ltd
- 11.11.1. Company Overview
- 11.11.2. Financial Performance
- 11.11.3. Product Benchmarking
- 11.11.4. Recent Development
- 11.12. Tencent
- 11.12.1. Company Overview
- 11.12.2. Financial Performance
- 11.12.3. Product Benchmarking
- 11.12.4. Recent Development
- 11.13. Unity Technologies
- 11.13.1. Company Overview
- 11.13.2. Financial Performance
- 11.13.3. Product Benchmarking
- 11.13.4. Recent Development
- 11.14. VR Chat
- 11.14.1. Company Overview
- 11.14.2. Financial Performance
- 11.14.3. Product Benchmarking
- 11.14.4. Recent Development
- 11.15. ZQGame
- 11.15.1. Company Overview
- 11.15.2. Financial Performance
- 11.15.3. Product Benchmarking
- 11.15.4. Recent Development