Press release
Metaverse Market Growth Set to Surge Significantly at a CAGR of 40.4% by 2030
According to the report published by Allied Market Research, the global metaverse market was estimated at $41.9 billion in 2020 and is expected to hit $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.
Download Sample Report (Get Full Insights in PDF - 289 Pages) at: https://www.alliedmarketresearch.com/request-sample/A16423
Rise in popularity of cryptocurrencies and non-fungible tokens (NFTs) drives the global metaverse market. On the other hand, complex security and privacy challenges on the metaverse platform restrain the growth to some extent. However, a positive drive toward decentralized network technology is projected to pave the way for lucrative opportunities in the industry.
Metaverse platform provides a virtual world that can incorporate elements of social networking, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrency. Augmented reality (AR) and virtual reality (VR) enhances user experience by superimposing visual components, music, and other sensory input into real-world environments, which enables them to provide users with a more engaging and immersive experience. Such applications enable growth of the global metaverse market.
Buy Now & Get Exclusive Discount on this Report: https://www.alliedmarketresearch.com/metaverse-market/purchase-options
The global metaverse market is analyzed across component, technology, application, industry vertical, and region. 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.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/16792
The key market players analyzed in the global metaverse industry report include 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. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
The COVID-19 pandemic had an overall positive impact on the global metaverse market and its opportunities. According to a report published by SAGE Journals in May 2021, the average time spent on playing video games went up by more than 71% during the period of COVID-19 lockdowns. This influenced many popular game companies to expand their offerings portfolio to fictional world and virtual worlds during the period. For instance, in July 2020, Epic Games partnered with American rap artist, Travis Scott to host their Astronomical Tour in Fortnite. This concert stacked up 45.8 million live audiences in-game and over 120 million views through live streams on YouTube and Twitch. Such instances are promising great opportunities for the future of metaverse platforms and technologies which are anticipated to grow in the coming years.
Access the full summary at: https://www.alliedmarketresearch.com/metaverse-market-A16423
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: + 1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.
Download Sample Report (Get Full Insights in PDF - 289 Pages) at: https://www.alliedmarketresearch.com/request-sample/A16423
Rise in popularity of cryptocurrencies and non-fungible tokens (NFTs) drives the global metaverse market. On the other hand, complex security and privacy challenges on the metaverse platform restrain the growth to some extent. However, a positive drive toward decentralized network technology is projected to pave the way for lucrative opportunities in the industry.
Metaverse platform provides a virtual world that can incorporate elements of social networking, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrency. Augmented reality (AR) and virtual reality (VR) enhances user experience by superimposing visual components, music, and other sensory input into real-world environments, which enables them to provide users with a more engaging and immersive experience. Such applications enable growth of the global metaverse market.
Buy Now & Get Exclusive Discount on this Report: https://www.alliedmarketresearch.com/metaverse-market/purchase-options
The global metaverse market is analyzed across component, technology, application, industry vertical, and region. 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.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/16792
The key market players analyzed in the global metaverse industry report include 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. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
The COVID-19 pandemic had an overall positive impact on the global metaverse market and its opportunities. According to a report published by SAGE Journals in May 2021, the average time spent on playing video games went up by more than 71% during the period of COVID-19 lockdowns. This influenced many popular game companies to expand their offerings portfolio to fictional world and virtual worlds during the period. For instance, in July 2020, Epic Games partnered with American rap artist, Travis Scott to host their Astronomical Tour in Fortnite. This concert stacked up 45.8 million live audiences in-game and over 120 million views through live streams on YouTube and Twitch. Such instances are promising great opportunities for the future of metaverse platforms and technologies which are anticipated to grow in the coming years.
Access the full summary at: https://www.alliedmarketresearch.com/metaverse-market-A16423
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: + 1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.
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