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Metaverse Market Size to Grow by USD 677.98 billion, Increasing Demand for AR And VR Technology to Boost Market Growth - Technavio

·13 min read

NEW YORK, July 27, 2022 /PRNewswire/ -- Metaverse is a simulated digital platform that utilizes augmented reality (AR), virtual reality (VR), and blockchain technology to create spaces for user interaction in the virtual world. It also includes spaces for games, meetings, education, and shopping activities.

Technavio has announced its latest market research report titled Metaverse Market by Device and Geography - Forecast and Analysis 2022-2026
Technavio has announced its latest market research report titled Metaverse Market by Device and Geography - Forecast and Analysis 2022-2026

The "Metaverse Market by Device (VR and AR devices and Computing devices) and Geography (North America, Europe, APAC, South America, and Middle East and Africa) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The potential growth difference for the metaverse market size between 2021 and 2026 is USD 677.98 bn. To get the exact yearly growth variance and the Y-O-Y growth rate, request a sample report

Key Market Dynamics:

  • Market Driver: The increasing demand for AR and VR technology is driving the growth of the market. Wearable technology platforms can enhance the use of AR in the global metaverse market. For instance, Google is working on AR Smart Glasses for the global metaverse market. AR programs enable users to gain new experiences. For example, virtual fitting rooms help users choose the right size and avoid purchase returns.

  • Market challenge: Privacy and security concerns are challenging the growth of the metaverse market. Metaverse can access the personal data of users, which may pose a threat to their privacy. In addition, smart gear used in the metaverse, such as smart glass and VR headsets, also leads to privacy-related concerns. Thus, the development of such products may hinder the growth of the metaverse market during the forecast period.

Technavio provides key drivers, trends, and challenges that can impact the growth of the market. View our Sample Report

Market Segmentation

The metaverse market report is segmented by device (VR and AR devices and computing devices) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). North America will be the leading region with 38% of the market's growth during the forecast period. The US and Canada are the key countries for the metaverse market in North America.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report

Vendor Landscape

The metaverse market is fragmented. Vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market. There are several international and domestic vendors in the market. Several vendors are focusing on acquiring smaller brands to expand their market presence. Vendors are also innovating their existing products or introducing new product lines to sustain the market competition. Key vendors such as Meta Platforms, Inc., Microsoft Corp, NVIDIA Corp., ByteDance Ltd. (Pico), etc., have a strong foothold in the global metaverse market.

Some Companies Mentioned

  • Accenture Plc

  • Active Theory LLC

  • Animoca Brands Corp. Ltd

  • ByteDance Ltd.

  • Decentraland Foundation

  • Devden Creative Solutions Pvt. Ltd

  • Epic Games Inc.

  • GoMeta Inc.

  • Infosys Ltd.

  • Magic Leap Inc.

  • Meta Platforms Inc.

  • Microsoft Corp.

  • Mobiloitte Technologies

  • NexTech AR Solutions Corp.

  • NVIDIA Corp.

  • Queppelin

  • Roblox Corp

  • Tencent Holdings Ltd.

  • Unity Software Inc.

  • Wilkins Avenue AR

Want your report customized? Speak to an analyst and personalize your report according to your needs.

Related Reports

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Metaverse Real Estate Market by End-user and Geography - Forecast and Analysis 2022-2026

Metaverse Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 33.26%

Market growth 2022-2026

USD 677.98 billion

Market structure

Fragmented

YoY growth (%)

28.73

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 38%

Key consumer countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Accenture Plc, Active Theory LLC, Animoca Brands Corp. Ltd, ByteDance Ltd., Decentraland Foundation, Devden Creative Solutions Pvt. Ltd, Epic Games Inc., GoMeta Inc., Infosys Ltd., Magic Leap Inc., Meta Platforms Inc., Microsoft Corp., Mobiloitte Technologies, NexTech AR Solutions Corp., NVIDIA Corp., Queppelin, Roblox Corp, Tencent Holdings Ltd., Unity Software Inc., and Wilkins Avenue AR

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Device

  • 5.1 Market segments

  • 5.2 Comparison by Device

  • 5.3 VR and AR devices - Market size and forecast 2021-2026

  • 5.4 Computing devices - Market size and forecast 2021-2026

  • 5.5 Market opportunity by Device

6 Customer Landscape

  • 6.1 Customer landscape overview

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 North America - Market size and forecast 2021-2026

  • 7.4 Europe - Market size and forecast 2021-2026

  • 7.5 APAC - Market size and forecast 2021-2026

  • 7.6 South America - Market size and forecast 2021-2026

  • 7.7 Middle East and Africa - Market size and forecast 2021-2026

  • 7.8 US - Market size and forecast 2021-2026

  • 7.9 China - Market size and forecast 2021-2026

  • 7.10 Germany - Market size and forecast 2021-2026

  • 7.11 UK - Market size and forecast 2021-2026

  • 7.12 Canada - Market size and forecast 2021-2026

  • 7.13 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Impact of drivers and challenges

  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

  • 9.4 Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 Accenture Plc

  • 10.4 ByteDance Ltd.

  • 10.5 Devden Creative Solutions Pvt. Ltd

  • 10.6 GoMeta Inc.

  • 10.7 Infosys Ltd.

  • 10.8 Meta Platforms Inc.

  • 10.9 Microsoft Corp.

  • 10.10 NexTech AR Solutions Corp.

  • 10.11 NVIDIA Corp.

  • 10.12 Roblox Corp

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Inclusions and exclusions checklist

  • 11.3 Currency conversion rates for US$

  • 11.4 Research methodology

  • 11.5 List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
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Media & Marketing Executive
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UK: +44 203 893 3200
Email:media@technavio.com
Website: www.technavio.com/

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