Global Metaverse Technology Market is Likely to Grow a CAGR of 40% during the Forecast Period

The latest market report published by Credence Research, Inc. “Global Metaverse Technology Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Metaverse Technology Market generated revenue of around USD 140 billion in 2021 and is anticipated to grow a CAGR of over 40% during the forecast period from 2021 to 2028 to reach around USD 750 billion in 2028. While, cumulative growth opportunity presented by the global Metaverse Technology is around USD 2,670 billion during 2022 to 2028.

Global Metaverse Technology Market, 2021 – 2028 (USD Million)

Browse the full report at  Metaverse Technology Market: Growth, Share, and Competitive Analysis, 2016 – 2028 | Credence Research

Metaverse Technology is a hypothetical iteration of internet with the use of AR & VR, mixed reality and blockchain. Metaverse Technologies are positioning themselves as next gen computing platforms. Metaverse Technologies have bring a revolution in online gaming, ecommerce, social media, entertainment and content creation. Combining all above mentioned technologies, Metaverse offers a virtual experience that blurs the boundary between virtual and physical reality.

Proton Exchange Membrane (PEM) to Held the Considerable Share

Blockchain, VR & AR and Mixed Reality Electrolysis are major technology segments in Metaverse Technology market. VR & AR held over 45% share in Metaverse Technology in 2021. While, blockchain is likely to grow in its market at rapid pace over the forecast period. AR & VR are increasingly being adopted in various application markets and hence hold the largest share.

Desktop to Lead the Metaverse Technology

Mobile, Desktop and Headsets are major types of hardware used in global Metaverse Technology. Desktop is major segment of the Metaverse Technology industry. While mobile segment held the significant share in Metaverse Technology in 2021. It accounted for over 25% share in total revenue generated by the global Metaverse Technology  market in 2021. While, headsets are expected exhibit highest CAGR over the forecast period.

Gaming to Hold Largest Share

Gaming, Online Shopping, Content Creation, social media, Media and Entertainment and Others are some of the major end-users of Metaverse Technology. Gaming is one of the few application areas where Metaverse Technology was first implemented. Gaming application held over 25% share in total revenue generated by the Metaverse Technology market across the world. While, ecommerce is gong to be the next big beneficiary of developments in Metaverse Technology. Similarly, social media and entertainment, supply chain, crypto currencies and content creation will be the next few lucrative markets for the growth of Metaverse Technology.

U.S. is Leading Metaverse Technology Demand

U.S. is leading the demand for Metaverse Technology with Australia, China, South Korea, Japan, UK, France, Germany and Singapore being at the forefront of Metaverse Technology adoption. Asia Pacific will exhibit the fastest CAGR over the forecast period. Huge investment incurred by the companies and presence of large consumer base for advanced technology based markets, the demand for Metaverse Technology in the region be higher in the years to come.

Major players operating in the global Metaverse Technology  market include ByteDance, Epic Games, Lilith, Meta (Facebook), Microsoft, miHoYo, NetEase, Nvidia, Roblox, Tencent, Unity and ZQGame . Global Metaverse Technology market is characterized by the presence of large number of players across the world.

Market Segmentation

Global Metaverse Technology Market by Technology, 2016 – 2028

  • Blockchain
  • VR & AR
  • Mixed Reality
  • Others

Global Metaverse Technology Market by Type, 2016 – 2028

  • Mobile
  • Desktop

Global Metaverse Technology Market by Application, 2016 – 2028

  • Gaming
  • Online Shopping
  • Content Creation
  • Social Media
  • Media and Entertainment
  • Others

Global Metaverse Technology Market by Company, 2016 – 2028

  • ByteDance
  • Epic Games
  • Lilith
  • Meta (Facebook)
  • Microsoft
  • miHoYo
  • NetEase
  • Nvidia
  • Roblox
  • Tencent
  • Unity
  • ZQGame
  • Others