The metaverse in gaming global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Metaverse In Gaming Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
metaverse in gaming market size has grown exponentially in recent
years. It will grow from $33.6 billion in 2023 to $47.7 billion in 2024
at a compound annual growth rate (CAGR) of 42%. The growth in the
historic period can be attributed to growing popularity of owning
virtual assets such as NFTs, the development of gaming, development of
VR and AR-related games, and research and development in metaverse.
The metaverse in gaming market size is expected to see exponential growth in the next few years. It will grow to $194.92 billion in 2028 at a compound annual growth rate (CAGR) of 42.2%. The growth in the forecast period can be attributed to expanding implementations of metaverse, the rising popularity of AR and VR, rapidly rising popularity of play-to-earn games, demand for immersive gaming experiences, and rising investment. Major trends in the forecast period include advancements in VR software, technological developments, innovative marketing strategies, enhancement of gaming experience through integration of 3D technology, and rapid advancements in gaming software.
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Scope Of Metaverse In Gaming Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Metaverse In Gaming Market Overview
Market Drivers -
The
rising popularity of augmented reality (AR) and virtual reality (VR) is
expected to propel the growth of the metaverse in the gaming market
going forward. Augmented reality (AR) enhances the real world with
digital content, while virtual reality (VR) immerses users in entirely
digital environments through specialized headsets. The growing
popularity of AR and VR stems from their ability to provide immersive,
interactive experiences across gaming, education, healthcare, and
entertainment, transforming digital content interaction and real-world
engagement. AR and VR use the metaverse in gaming to create immersive
and interconnected virtual experiences, allowing players to interact
with each other and digital environments seamlessly, enhancing gameplay
and social interaction. For instance, in February 2023, according to XR
Today, a UK-based technology podcast company, approximately 57.4 million
people in the United States owned a VR headset in 2020, and this figure
had risen to 37.7 million in 2022. Therefore, the rising popularity of
AR and VR is driving the growth of the metaverse in the gaming market.
Market Trends -
Major
companies operating in the metaverse in the gaming market are focusing
on the development of advance platforms such as community-driven gaming
platforms to enhance immersive experiences and foster user engagement.
These platforms harness the collective creativity, passion, and
expertise of players to shape the gaming experience and create vibrant,
thriving communities. For instance, in January 2024, Nifty Island LLC, a
US-based play-to-earn gaming platform, launched its open beta version
of metaverse games, offering players a unique gaming experience with
avatars from renowned non-fungible token (NFT) collections such as
Azuki, Bored Apes, CloneX, and CoolCats. Additionally, Nifty Island's
play-to-airdrop system, which rewards players with tokens and NFTs for
their participation and enhances the connection between the game and the
broader Web3 ecosystem, offers crypto rewards that align with the
principles of the metaverse as a decentralized and interconnected
virtual space.
The metaverse in gaming market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Non-Fungible Token (NFT), Blockchain, Virtual Reality, Augmented Reality, Mixed Reality, Extended Reality
3)
By Genre: Action, Adventure, Role-Playing Games (RPGs), Simulation,
Sports And Racing, Strategy, Sandbox, Card And Casino Games, Other
Genres
4) By Age Group: Below 21 Years, 21 - 35 Years, 36 - 50 Years, 51 Years And Above
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Regional Insights -
North
America was the largest region in the metaverse in gaming market in
2023. Asia-Pacific is expected to be the fastest-growing region in the
forecast period. The regions covered in the metaverse in gaming market
report are Asia-Pacific, Western Europe, Eastern Europe, North America,
South America, Middle East, Africa.
Key Companies -
Major
companies operating in the metaverse in gaming market are Microsoft
Corporation, Meta Platforms Inc., Sony Corporation, Fujitsu Limited,
Nvidia Corporation, WPP plc, NetEase Inc., Electronic Arts Inc., Vertiv
Group Corporation, Epic Games Inc., Autodesk Inc., Roblox Corporation,
Unity Software Inc., Axie Infinity, Magic Leap Inc., Kellton Tech
Solutions Ltd., LeewayHertz Inc., Aetsoft Inc., Aptos Labs, SmartMedia
Technologies Inc., Spatial Systems Inc., The Sandbox
Table of Contents
1. Executive Summary
2. Metaverse In Gaming Market Report Structure
3. Metaverse In Gaming Market Trends And Strategies
4. Metaverse In Gaming Market – Macro Economic Scenario
5. Metaverse In Gaming Market Size And Growth
…..
27. Metaverse In Gaming Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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