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Metaverse Market Expanding Globally With Impressive Sales Trends By 2030 | Meta Platforms Inc., Bytedance, Netease Inc., Nextech AR Solutions Inc.

The global metaverse market has significant growth potential. Increasing investment in digital assets and rapid digital adoption, which has evolved into an established digital addiction, is fueling the market growth. In addition, the growing number of cryptocurrency enthusiasts and cloud-based data management platforms worldwide underpins Metaverse’s market demand.

The trend towards cryptocurrencies is growing continuously and is giving the use of digital asset management a real boost. Citing growing digital usage and internet users, Market Research Future (MRFR) expects the global Metaverse market to be worth $105,597.5 million by 2030.

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Metaverse Market Size |  Analysis By 2030
Metaverse Market

The spread of the Internet and communication technologies affects market revenues. The increasing use of social media and digital vaults in the banking, insurance, corporate and education sectors increases the market value. In addition, the immensely growing need for asset management/data management and the rapidly growing number of companies are affecting the market growth.

The increasing demand for solutions that would help improve customer loyalty and the increasing penetration of Metaverse to create a virtual world and online shopping spaces are having a positive impact on the market revenues. The growing penetration of smart and connected devices and cloud-based solutions is creating significant market demand.

3D and augmented reality advances would allow Metaverse users to truly engage with products and brands. In addition, increasing adoption of cloud-based solutions for service virtualization and containerization is fueling the market growth.

Global Metaverse Market – Segments

The market is segmented into components, platforms, technologies, applications, end users and regions. Of these, the component segment is divided into hardware and software. The platform segment is divided into desktops, mobile phones, VR headsets and others. The technology segment is divided into Blockchain, VR & AR, Mixed Reality (MR) and others.

Similarly, the application segment is divided into gaming, online shopping, content creation, social media, and others. The end-user segment is segmented into BFSI, Retail, Manufacturing, Media & Entertainment, Education, Aerospace & Defense, and Others. The region segment is split into Asia Pacific, Americas, MEA, Europe and Rest of World.

Global Metaverse Market – Regional Analysis

North America accounts for the largest share of the global Metaverse market. Widespread adoption of Metaverse solutions and services, particularly in the BFSI, retail and consumer goods, and healthcare industries, is driving market value. North America is recognized as the most advanced region in terms of developing and adopting innovative technologies. However, the region also faces the highest number of cyber security threats each year.

Also, the large presence of established industry players such as Meta Platforms, Nvidia and Roblo as well as technology development hubs in the region are impacting the market revenues. The US, Canada and Mexico are important Metaverse markets in North America. Additionally, the continuously expanding healthcare and manufacturing industries and the rapid adoption of smart devices are driving the regional market growth.

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Metaverse Market – Competitive Analysis

The Metaverse market is highly competitive and appears fragmented with various notable players forming a competitive landscape. These players are increasingly focused on product development, integrating strategic approaches such as collaboration, mergers and acquisitions, expansion and product launches to gain greater competitive share. They make significant investments to drive research and development to develop and expand the required technologies.

main actors

Active market participants include Meta Platforms Inc., Nvidia, Microsoft Corporation, Tencent Holdings Ltd., Bytedance, Epic Games, Netease Inc., Roblox Corporation, Lilith Games, Nextech AR Solutions Inc., Unity Software Inc., Antier Solutions .

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Industry/Innovation/Related News:

June 29, 2022 — Siemens Digital Industries Software, a leading provider of industrial automation solutions, announced the expansion of its partnership with NVIDIA, a pioneer in AI and accelerated graphics, to enable the use of industrial metaverse. This will transform the manufacturing industry and take industrial automation to a new level, increasing the use of AI-driven digital twin technology.

The Industrial Metaverse will help deliver immersive experiences across the lifecycle, from design to operations. As a first step in this collaboration, the companies plan to foster true-to-life digital twins and connect software-defined AI systems from the edge to the cloud by combining the NVIDIA Omniverse and Siemens Xcelerator platforms.

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