Metaverse Market

Metaverse Market Forecasts to 2028 - Global Analysis By Platform (Mobile, Desktop, Other Platforms), Type (Non-Statins, Statins), Offering (Avatars, Virtual Platforms, Financial Services), and Others

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Published: 2022 ID: SMRC21977

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2022)

US $54.93 BN

Projected Year Value (2028)

US $439.07 BN

CAGR (2022 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Asia Pacific

According to Stratistics MRC, the Global Metaverse Market is accounted for $54.93 billion in 2022 and is expected to reach $439.07 billion by 2028 growing at a CAGR of 41.4% during the forecast period. The Metaverse is a digital simulation environment that combines Blockchain, mixed reality, augmented reality, and virtual reality. These technologies are used to create environments that offer a rich user experience in virtual spaces. The term "metaverse" refers to a highly immersive 3D virtual world obtained by the use of several different technologies, including AR, VR, and MR. By constructing a virtual world in which users can, among other things, play immersive games, conduct business, interact socially, buy and sell virtual properties, and enjoy immersive entertainment, the metaverse platform improves the internet experience.

According to a research published by the United Nations Conference on Trade and Development (UNCTAD), worldwide e-commerce sales are expected to exceed USD 26.7 trillion by 2020.

Market Dynamics:


Rising need in the gaming and entertainment industry

Due to the increasing use of VR, MR, and AR technology, the global gaming and media & entertainment industries have seen the fastest growth. These technologies are incorporated into products like VR headsets, HUDs, HMDs, MR headsets, smart glasses, and smart helmets that provide realistic-looking virtual environments to enhance the gaming experience for end users. The introduction of these devices has improved the client experience. The best application of technology is seeing a realistic view, which creates a virtual experience.


Risk of Cyber-Attacks

In the global economy, cyber-based attacks on the metaverse are a major worry. Cyber-attacks are a major worry for the efficient operation of the metaverse. A cyber threat is a perilous act that promotes software deterioration, system disruption, and data theft while lowering system efficiency. System failure brought on by cyber attacks causes the metaverse to crash. As a result, cybercrime must be made easier to avoid via metaverse. In order for a metaverse to operate properly, a secure and reliable network must be established.


Growing number of VR devices

The market share of the metaverse will increase as more VR devices become available in both developed and developing countries. The utilization of mixed reality, artificial intelligence (AI), and blockchain in end-use applications will increase over the coming years. Additionally, a considerable expansion of the e-commerce market will encourage major firms to make investments there.


Health Concerns

The metaverse has a negative impact on both physical and mental health. The rising impact of the metaverse on human mental health is raising concerns among experts. This factor is challenging the metaverse market expansion.

Covid-19 Impact

The Covid-19 epidemic continues to play a significant role in propelling the expansion of the international metaverse business. People's preferences for work have changed from office-based work to remote work, and schools are now also working remotely. The need for improved interactive platforms has grown as a result. Additionally, the pandemic is encouraging more people to download immersive gaming programmes as a way to pass the time. The pandemic's most significant impact is that it has sparked the development of platforms that provide virtual purchasing experiences, interactive gaming environments, and the use of blockchain technologies for digital trading goods.

The Mobile segment is expected to be the largest during the forecast period

The Mobile segment is estimated to have a lucrative growth, due to several benefits, including advanced memory modules, constant internet access, high-quality cameras suitable for use in smart phones, and a host of other elements. The use of mobile metaverse is being encouraged by the adoption of metaverse by various user groups around the world, which is anticipated to assist segment expansion in the anticipated years.

The Augmented Reality (AR) segment is expected to have the highest CAGR during the forecast period

The Augmented Reality (AR) segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the use of Augmented Reality (AR) devices in many applications has increased as a result of their capacity to connect the actual world with virtual items. The most important AR devices for industrial application are smart glasses for augmented reality (AR), which promotes the growth of the AR device market.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the region's customers and users' adoption of new and complex technologies, as well as a number of other factors, including the region's dense corporate population, a growing interest in fusing the online and offline worlds, a growing focus on creating metaverse platforms for the education sector, and many others. Additionally, the region's strong gaming and metaverse industry, which focuses on integrating metaverse into games, is fostering market growth.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to metaverse systems are widely used in the entertainment, gaming, and social industries and owing to factors such as demand for an improved presentation experience, a rising number of start-ups. As a result of the metaverse craze, hundreds of millions of dollars have been invested in Asia's gaming and social network industries. The internet is transforming the way that many people communicate, and demand for digital entertainment services has risen dramatically.

Key players in the market

Some of the key players profiled in the Metaverse Market include NetEase, Inc., Roblox Corporation, ByteDance Ltd., Lilith Games, Nvidia Corporation, Nextech AR Solutions Inc., Facebook Reality Labs, DeFi Land and Audius, Tencent Holdings, Ltd, Accenture Plc, Sandbox, Infosys Ltd., Epic Games, Inc, Wilkins Avenue AR, Unity Technologies, Inc., Devden Creative Solutions Pvt. Ltd, Microsoft Corporation, GoMeta Inc., Antier Solutions Pvt. Ltd. and Meta Platforms, Inc.

Key Developments:

In January 2022, Tencent to acquire gaming smartphone maker Black Shark, marches deeper into the metaverse. Black Shark is one of the largest gaming smartphone makers in China. Once the deal is finalized, it will transition into a manufacturer of VR headsets for Tencent.

In January 2022, The Sandbox announced a partnership with Warner Music Group to launch the first music-themed world in The Sandbox metaverse. Warner Music Group (WMG) would be taking its initial steps into the metaverse and NFT sector with this alliance.

In November 2021, Tencent Holdings, Ltd announced that it has partnered with The Asian Institute of Digital Finance. The companies will collaborate in the areas of education, research, and entrepreneurship to support Asia's fintech industry.

In November 2021, Epic Games, Inc acquired Harmonix Music Systems, Inc. While continuing to support existing products such as Rock Band 4; the Harmonix team will work closely with Epic Games, Inc to develop musical adventures and gameplay for Fortnite.

In October 2021, Facebook Reality Labs was estimated to spend at least USD 10 billion on the development of Augmented Reality (AR) and Virtual Reality (VR) hardware, software, and content. Facebook Reality Labs is the division of Meta Platforms, Inc, which was formerly known as Facebook, Inc.

In August 2021, Nvidia Corporation announced partnerships with Blender and Adobe that will enable NVIDIA Omniverse, the world’s first collaboration, and simulation platform, to reach millions more users.

Platforms Covered:
• Mobile
• Desktop
• Headsets
• Console
• Wearables
• Laptops
• Other Platforms

Offerings Covered:
• Avatars
• Virtual Platforms
• Financial Services
• Asset Market Places
• Other Offerings

Components Covered:
• Hardware
• Software
• Professional Services
• Other Components

Technologies Covered:
• Mixed Reality (MR)
• Virtual Reality (VR)
• Augmented Reality (AR)
• Blockchain
• Other Technologies

Applications Covered:
• Digital Marketing (Advertising)
• Content Creation
• Social Media
• Online Shopping
• Events & Conference
• Testing and Inspection
• Gaming
• Virtual Runway Shows
• Aircraft Maintenance
• Other Applications

End Users Covered:
• Automotive
• Aerospace and Defense
• Banking, Financial Services and Insurance (BFSI)
• Retail
• Media & Entertainment
• Education
• Consumer
• Enterprises
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Metaverse Market, By Platform
5.1 Introduction
5.2 Mobile
5.3 Desktop
5.4 Headsets
5.5 Console
5.6 Wearables
5.7 Laptops
5.8 Other Platforms

6 Global Metaverse Market, By Offering
6.1 Introduction
6.2 Avatars
6.3 Virtual Platforms
6.4 Financial Services
6.5 Asset Market Places
6.6 Other Offerings

7 Global Metaverse Market, By Component
7.1 Introduction
7.2 Hardware
7.2.1 eXtended Reality (XR)Hardware
7.2.2 Display
7.3 Software
7.3.1 Programming Engines
7.3.2 Asset Creation Tools
7.4 Professional Services
7.5 Other Components

8 Global Metaverse Market, By Technology
8.1 Introduction
8.2 Mixed Reality (MR)
8.3 Virtual Reality (VR)
8.4 Augmented Reality (AR)
8.5 Blockchain
8.6 Other Technologies

9 Global Metaverse Market, By Application
9.1 Introduction
9.2 Digital Marketing (Advertising)
9.3 Content Creation
9.4 Online Shopping
9.5 Events & Conference
9.6 Testing and Inspection
9.7 Gaming
9.8 Virtual Runway Shows
9.9 Aircraft Maintenance
9.10 Other Applications

10 Global Metaverse Market, By End User
10.1 Introduction
10.2 Automotive
10.3 Aerospace and Defense
10.4 Banking, Financial Services and Insurance (BFSI)
10.5 Retail
10.6 Media & Entertainment
10.7 Education
10.8 Consumer
10.9 Enterprises
10.10 Other End Users

11 Global Metaverse Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa

12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies

13 Company Profiling
13.1 NetEase, Inc.
13.2 Roblox Corporation
13.3 ByteDance Ltd.
13.4 Lilith Games
13.5 Nvidia Corporation
13.6 Nextech AR Solutions Inc.
13.7 Facebook Reality Labs
13.8 DeFi Land and Audius
13.9 Tencent Holdings, Ltd
13.10 Accenture Plc
13.11 Sandbox
13.12 Infosys Ltd.
13.13 Epic Games, Inc
13.14 Wilkins Avenue AR
13.15 Unity Technologies, Inc.
13.16 Devden Creative Solutions Pvt. Ltd
13.17 Microsoft Corporation
13.18 GoMeta Inc.
13.19 Antier Solutions Pvt. Ltd.
13.20 Meta Platforms, Inc.

List of Tables
1 Global Metaverse Market Outlook, By Region (2020-2028) ($MN)
2 Global Metaverse Market Outlook, By Platform (2020-2028) ($MN)
3 Global Metaverse Market Outlook, By Mobile (2020-2028) ($MN)
4 Global Metaverse Market Outlook, By Desktop (2020-2028) ($MN)
5 Global Metaverse Market Outlook, By Headsets (2020-2028) ($MN)
6 Global Metaverse Market Outlook, By Console (2020-2028) ($MN)
7 Global Metaverse Market Outlook, By Wearables (2020-2028) ($MN)
8 Global Metaverse Market Outlook, By Laptops (2020-2028) ($MN)
9 Global Metaverse Market Outlook, By Other Platforms (2020-2028) ($MN)
10 Global Metaverse Market Outlook, By Offering (2020-2028) ($MN)
11 Global Metaverse Market Outlook, By Avatars (2020-2028) ($MN)
12 Global Metaverse Market Outlook, By Virtual Platforms (2020-2028) ($MN)
13 Global Metaverse Market Outlook, By Financial Services (2020-2028) ($MN)
14 Global Metaverse Market Outlook, By Asset Market Places (2020-2028) ($MN)
15 Global Metaverse Market Outlook, By Other Offerings (2020-2028) ($MN)
16 Global Metaverse Market Outlook, By Component (2020-2028) ($MN)
17 Global Metaverse Market Outlook, By Hardware (2020-2028) ($MN)
18 Global Metaverse Market Outlook, By eXtended Reality (XR)Hardware (2020-2028) ($MN)
19 Global Metaverse Market Outlook, By Display (2020-2028) ($MN)
20 Global Metaverse Market Outlook, By Software (2020-2028) ($MN)
21 Global Metaverse Market Outlook, By Programming Engines (2020-2028) ($MN)
22 Global Metaverse Market Outlook, By Asset Creation Tools (2020-2028) ($MN)
23 Global Metaverse Market Outlook, By Professional Services (2020-2028) ($MN)
24 Global Metaverse Market Outlook, By Other Components (2020-2028) ($MN)
25 Global Metaverse Market Outlook, By Technology (2020-2028) ($MN)
26 Global Metaverse Market Outlook, By Mixed Reality (MR) (2020-2028) ($MN)
27 Global Metaverse Market Outlook, By Virtual Reality (VR) (2020-2028) ($MN)
28 Global Metaverse Market Outlook, By Augmented Reality (AR) (2020-2028) ($MN)
29 Global Metaverse Market Outlook, By Blockchain (2020-2028) ($MN)
30 Global Metaverse Market Outlook, By Other Technologies (2020-2028) ($MN)
31 Global Metaverse Market Outlook, By Application (2020-2028) ($MN)
32 Global Metaverse Market Outlook, By Digital Marketing (Advertising) (2020-2028) ($MN)
33 Global Metaverse Market Outlook, By Content Creation (2020-2028) ($MN)
34 Global Metaverse Market Outlook, By Online Shopping (2020-2028) ($MN)
35 Global Metaverse Market Outlook, By Events & Conference (2020-2028) ($MN)
36 Global Metaverse Market Outlook, By Testing and Inspection (2020-2028) ($MN)
37 Global Metaverse Market Outlook, By Gaming (2020-2028) ($MN)
38 Global Metaverse Market Outlook, By Virtual Runway Shows (2020-2028) ($MN)
39 Global Metaverse Market Outlook, By Aircraft Maintenance (2020-2028) ($MN)
40 Global Metaverse Market Outlook, By Other Applications (2020-2028) ($MN)
41 Global Metaverse Market Outlook, By End User (2020-2028) ($MN)
42 Global Metaverse Market Outlook, By Automotive (2020-2028) ($MN)
43 Global Metaverse Market Outlook, By Aerospace and Defense (2020-2028) ($MN)
44 Global Metaverse Market Outlook, By Banking, Financial Services and Insurance (BFSI) (2020-2028) ($MN)
45 Global Metaverse Market Outlook, By Retail (2020-2028) ($MN)
46 Global Metaverse Market Outlook, By Media & Entertainment (2020-2028) ($MN)
47 Global Metaverse Market Outlook, By Education (2020-2028) ($MN)
48 Global Metaverse Market Outlook, By Consumer (2020-2028) ($MN)
49 Global Metaverse Market Outlook, By Enterprises (2020-2028) ($MN)
50 Global Metaverse Market Outlook, By Other End Users (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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