Metaverse Market Trends, Growth and Demand Report 2020- 2027

The Global metaverse market  Research Report published by  Emergenresearch has been formulated by analysis of key business details and extensive geographical spread of the Metaverse industry. The study offers comprehensive coverage of the qualitative and quantitative analysis of the Metaverse market along with crucial statistical data about the Metaverse market. The research study provides historical data from 2017 to 2018 and offers accurate forecast estimation until 2027. The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.

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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Major companies in the market report include 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.

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 latest report is the most recent study that offers 360° coverage of the Metaverse industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Metaverse market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.

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
      1. Displays
      2. eXtended Reality (XR) Hardware
        1. Haptic Sensors & Devices
        2. Smart Glasses
        3. Omni Treadmills
      3. AR/VR Headsets
    • Software
      1. Asset Creation Tools
      2. 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

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Regional Overview:

The global Metaverse market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Metaverse market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.

Key questions addressed in the report:

What are the key factors driving the global Metaverse market?

Who are the key manufacturers in this market space?

Who are the distributors, traders and dealers of this market?

What are the market opportunities and risks affecting the performance of the vendors in the global Metaverse market?

What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?

Unfolding the prime factors prompting  growth:

  • The study offers an in-depth analysis of the product outlook, which depicts the latest production growth trends and profit valuation. It further fragments the global Metaverse market into a broad product spectrum.
  • The study covers essential data related to these products’ application landscape, the demand for and market share held by each application type, and their growth rate analysis over the estimated period.

Read More: https://www.emergenresearch.com/industry-report/metaverse-market

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