We’ve long been captivated by cloud, Internet of Things (IoT), artificial intelligence (AI), machine learning (ML), and blockchain technologies in the IT sector, but a lot has happened in the previous eighteen months as the world battled the pandemic.
We’ve long been captivated by cloud, Internet of Things (IoT), artificial intelligence (AI), machine learning (ML), and blockchain technologies in the IT sector, but a lot has happened in the previous eighteen months as the world battled the pandemic. These innovations were adopted faster than we could have predicted, as they assisted in overcoming the various obstacles caused by the pandemic.
Metaverse is one such innovation that has become the latest buzzword. The idea is to develop a virtual area that connects the physical and digital worlds to improve both experiences. Technologists are already speculating on how the metaverse might alter everything we do, from gaming to buying to attending concerts to performing surgery.
Web 3.0, often known as the 3-D Web, is one of the most convincing examples of the metaverse. This innovation, combined with advances in extended reality (XR) — which combines augmented reality, virtual reality, and mixed reality to create a variety of digital and physical experiences — enables the creation of digital twins, which can be used to create spatial views of cities, buildings, convention centres, homes, and other structures for more efficient planning and design execution.
To understand how our report can bring difference to your business strategy, Ask for a sample brochure
A lot of this is already in use in some capacity. Thanks to metaverse enterprises like Matterport and VPIX360, real estate and architecture firms offered virtual views throughout the epidemic, resulting in a surge in sales in that industry. In an innovative approach, the government and the IT sector have combined to “make Smart Cities even smarter.” According to Reports and Data, the metaverse market will register a CAGR of 44.1% over 2021-2028, reaching USD 872.35 billion by 2028.
The metaverse could transform how people return to work after a pandemic thanks to Web 3.0 technology like these. Some people will continue their professional lives on the internet. Some employees will return to work on-site. These journeys could be combined in the metaverse to create a truly immersive experience.
The Industrial Revolution 5.0 could be born out of the convergence of these technologies. It has the potential to reshape our culture, society, and economy. We’re going to enter an era in which individuals reclaim control, disrupt Big Tech’s and the government’s grip over information, and, perhaps, give us the purest sense of liberty.
Some Key Highlights From the Report
- Desktop segment is expected to account for largest revenue share in the global metaverse market between 2021 and 2028 owing to rising demand for online multiplayer PC games.
- Financial services segment is expected to register a significantly steady revenue growth rate over the forecast period. Rising number of businesses are providing financial services customized to digital currencies, with a majority of such firms being focused on blockchain-based Decentralised Finance (DeFi) apps.
- The metaverse market in North America is expected to account for largest revenue share over the forecast period. Presence of a large number of tech giants and start-ups focusing on building metaverse platforms are key factors expected to drive revenue growth of the market in North America.
Some major companies included in the global market report are Facebook, Inc., Tencent Holdings Ltd., ByteDance Ltd., NetEase, Inc., Nvidia Corporation, Epic Games, Inc., Unity Technologies, Inc., Roblox Corporation, Lilith Games, and Nextech AR Solutions Corp.
Download report summary to get extensive insights into the Metaverse Market
For the purpose of this report, Reports and Data has segmented global metaverse market based on platform, component, technology, offerings, application, end-use, and region:
Platform Outlook (Revenue, USD Billion; 2018-2028)
- Mobile
- Desktop
Component Outlook (Revenue, USD Billion; 2018-2028)
- Software
- Asset Creation Tools
- Programming Engines
- Hardware
- Virtual Reality (VR) Headsets & Augmented Reality (AR) Headsets
- Display
- Extended Reality (XR) Hardware
- Omni Treadmills
- Haptic Devices & Sensors
- Smart Glasses
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Virtual Reality (VR) & Augmented Reality (AR)
- Mixed Reality (MR)
- Blockchain
Offerings Outlook (Revenue, USD Billion; 2018-2028)
- Avatars
- Virtual Platforms
- Asset Marketplaces
- Financial Services
Application Outlook (Revenue, USD Billion; 2018-2028)
- Social Media
- Gaming
- Aircraft Maintenance
- Conference
- Content Creation
- Online Shopping
- Virtual Runway Shows
- Others
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Media & Entertainment
- Aerospace & Defense
- Fashion
- Education
- Others
Read Exclusive Press Release @ https://www.reportsanddata.com/press-release/global-metaverse-market
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
Conclusively, all aspects of the Metaverse market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs