Credence Research recently published a research report on “Metaverse Technology Market by Technology (Blockchain, VR & AR, Mixed Reality, Others) by Type (Mobile, Desktop) by Application (Gaming, Online Shopping, Content Creation, Social Media, Media and Entertainment, Others) – Ukraine War, Future Prospects And Competitive Analysis, 2016 – 2028” in its research database.
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)
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.
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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.
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Metaverse Technology Report Scope
Report Attribute
Details
Market Value in 2021
USD 140,00 million
Market Value in 2028
USD 750,000 million
CAGR
40% between 2021 and 2028
Benchmarking Year
2021
Past data
2016 – 2021
Forecast period
2022 – 2028
Report coverage
Market Size Valuation, Share Analysis and Growth Rate by Segments such as Type and Technology, Company Share, Competitive Landscape and Trends Analysis
Segments covered
Type
Mobile
Desktop
Technology
Blockchain
VR & AR
Mixed Reality
End-user
Gaming
Online Shopping
Content Creation
Social Media
Media and Entertainment
Others
Regional scope
North America (U.S., Canada and Mexico), Europe (Russia, Spain, Italy, Germany, France, UK, Poland, Belgium, Netherland, Sweden, Denmark, Austria, etc.), Asia Pacific (India, South Korea, China, Japan, Taiwan, Singapore, Vietnam, Thailand, Indonesia, Malaysia, Australia, etc.), Latin America (Peru, Chile, Colombia, Brazil, Argentina, etc.), Middle East (KSA, UAE, Israel, etc.) & Africa (Egypt, Nigeria, South Africa, East African Community, etc.)
Cost of the Report
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Market Segmentation
Global Metaverse Technology Market by Technology, 2016 – 2028
Global Metaverse Technology Market by Type, 2016 – 2028
Global Metaverse Technology Market by Application, 2016 – 2028
Global Metaverse Technology Market by Company, 2016 – 2028
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