Global metaverse market to cross $993.86 bn by 2030: Report

13 Jul '22

1 min read

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The global metaverse market is predicted to grow from $39.25 billion in 2021 to $993.86 billion by 2030 at a compound annual growth rate (CAGR) of 43.20 per cent during the forecast period 2022-2030, according to a recent report. E-commerce sales growth has created huge prospects for the metaverse market’s growth during the prediction period.

In 2021, the augmented reality (AR) segment had taken up 28 per cent of the market share and a market revenue of $10.99 billion.

North America emerged as the largest market for the global metaverse market, having a market share of about 34.5 per cent and $13.54 billion of the market revenue in 2021, according to the report by market research company The Brainy Insights. The increasing adoption of technologies such as blockchain, Mixed Reality (MR), and Artificial Intelligence (AI) in various applications is driving market growth.

The study analyses in depth the driving factors, opportunities, restraints, and challenges to gain a detailed understanding of the metaverse market across more than 30 countries. The research involved porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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