Metaverse Market Outlook and Forecasts 2022 – 2030

Metaverse Market Outlook and Forecasts 2022 – 2030

The Metaverse represents a concept that will fundamentally transform digital platforms and the Internet in general as part of an overall evolution towards an increasingly more semantic web. The concept of a metaverse is nothing new as its roots may be traced to various constructs such as the study of consciousness and its application to alternate realities as well as pop culture such as the 1992 science-fiction novel, Snow Crash.

The conceptual framework of a “metaverse” has gained momentum recently as Facebook, Inc. changed its name to Meta Platforms, Inc. and announced its intention to invest $10 billion to build a Metaverse environment. The platform will allow users to interact with friends, families, and colleagues through avatars of themselves within a digital reality.

Accordingly, many technology companies are aligning their products, services and solutions to accommodate the evolving Metaverse. A sampling of these developments includes the following:

Nonvoice was formed as an agency to support development, aggregation and integration of applications and content for the global communication service provider ecosystem. The company focuses on 5G enabled solutions including NFTs, augmented and virtual reality.

Decentraland raised $1.2 million with fungible tokens auctions and marketplace to boost up metaverse with Ethereum blockchain. Price Waterhouse Cooper Hong Kong purchased LAND in Sandbox for $10,000.

Globant acquired Navint to streamline end-to-end digital and cognitive transformations in 2021

Magic Leap raised $500 million funding with a valuation of $2 billion in 2021 and focused on developing advanced AR solutions.

The Sandbox formed an alliance with the Warner Music Group to launch the first music themed world in the Sandbox metaverse and took initial steps to enter into the metaverse and NFT sector. They formed the alliance in January 2022.

Tencent Holdings formed a partnership with the Asian Institute of Digital Finance to collaborate in the areas of education, research, and entrepreneurship to boost up Asia’s fintech industry that will also contribute to Metaverse.

Epic Games acquired Harmonix Music systems to develop musical adventures and gameplay for Fortnite. They will also continue supporting existing products such as Rock Band 4.

In 2021, Nvidia corporation formed a partnership with Blender and Adobe that will enable Nvidia Omniverse to reach millions more users. Omniverse is known as the world's first collaboration and simulation platform.

In this report, Mind Commerce assesses the Metaverse market opportunity for vendors and ancillary services providers including infrastructure, devices, software and supporting services. The report includes qualitative and quantitative analysis of the Metaverse market and its segments from 2022 to 2030.

Select Report Findings:

Over one and a half billion people will be Metaverse users by 2030

The global Metaverse market will be valued at more than $1.5 trillion by 2030

The mixed reality technology segment will hold highest market share by 2030

The global Metaverse NFT market alone will be valued at $53.2 billion by 2030

Software and SaaS will be the largest market opportunity segment through 2030

Digital marketing and advertising applications will have the highest CAGR through 2030

Media and entertainment will experience the greatest market disruption and opportunities

Metaverse will be a global digital disruptor, likely to change virtually every facet of B2B and B2C solutions as well as fundamentally transforming the nature of many consumer-based goods and services

Companies in Report:

Active Theory

Adidas

Alibaba Cloud

Apple Inc.

Atari Inc.

Baidu

Binance

Bloktopia

Bolly Heroes

ByteDance Ltd.

Cope Studio

Cryptovoxels

Decentraland

Epic Games Inc.

Gap Inc

Globant

GoMeta

Google

HoYoverse (miHoYo)

Hulu LLC

HyperVerse

Larva Labs (Yuga Labs)

LeewayHertz

Lilith Games

LOKA

Magic Leap Inc.

Meta Platforms Inc.

Metahero

Microsoft Corporation

Nakamoto Games

NetEase Inc.

Netflix

Nextech AR Solution Corp.

NextMeet

Niantic

Nike Inc

Nvidia Corporation

OneRare

Queppelin

Rarible

Roblox Corporation

Sky Mavis

Somnium Space

Sony Corporation

Sorare

Star Atlas

Tencent Holdings

The Sandbox

Unity Technologies Inc.

Valve

Verizon

Walmart

Zippy

ZQGame