About Consumer Metaverse
Metaverse is a virtual reality space in which end-user can interact with Computer-generated environments and other users. The demand for consumer metaverse is expanding at rapid speed in various industries, for instance, advertising is Meta's primary source of income. Furthermore, rising demand from consumers for new experiences and pandemics has accelerated the adoption of the metaverse.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting advanced technology as well as mergers & acquisitions, expansions, investments, new service and product launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies and trends. The market is expected to grow in the gaming and media as well entertainment industry. It has wide applications for selling and ownership. Several companies such as Microsoft, Accenture, Facebook are operating in the market to provide customers with the better offer with various features & unique offering services and platforms. The market is a partially fragmented market with the presence of several market players and local players.Furthermore the demand in the market is huge that is triggering the market growth over the forecast period Analyst at AMA Research estimates that (United States) Players will contribute the maximum growth to Global Consumer Metaverse market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Roblox (United States), Open sea (United States), Epic Games (United States), Nike (United States), Tencent (China), Tinder (United States), Magic Leap (United States), Gather (United States), Facebook (United States), Hyperlink InfoSystem, TCS (India), Microsoft (United States), Tech Mahindra (India), Infosys (India), Accenture (Ireland), Zensar Technologies (United States), Capgemini (Germany) and Others are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Consumer Metaverse market by and Region.
On the basis of geography, the market of Consumer Metaverse has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Virtual reality (VR) will boost the Consumer Metaverse market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use Industry, the sub-segment i.e. Gaming Industry will boost the Consumer Metaverse market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Cloud Type, the sub-segment i.e. Private will boost the Consumer Metaverse market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connectivity, the sub-segment i.e. 5G will boost the Consumer Metaverse market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform , the sub-segment i.e. Mobile will boost the Consumer Metaverse market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Virtual Possessions among the consumer are increasingly at rapid space
Market Growth Drivers:
Growing demand for metaverse for purchasing assets through cryptocurrencies
Challenges:
Identify jurisdiction as well as a set of legislations that can ensure the virtual space is safe and secure for its users
Restraints:
The rising threat of cyber security is the primary restraining factor in the consumer metaverse market
Opportunities:
Rapidly increasing penetration of internet
Market Leaders and their expansionary development strategies
On January 2022 Microsoft has acquire video game maker Activision Blizzard. The acquisition cost is 69 Billion. The aim Main of the acquisition is to expand gaming footprint across pc, console, and Mobile
On January 2022 Korean Gaming Giant Netmarble has Launched Metaverse and NFT Games. Furthermore, Netmarble is also preparing to launch 20 new games, of which about 70% will use blockchain technology
Key Target Audience
Developers, Artist, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End-use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.