The Metaverse market is a term used to describe the growing trend of virtual economies that exist within virtual worlds. This includes virtual marketplaces where users can purchase and sell virtual goods, services, and experiences. Metaverses have become increasingly popular in the technology and gaming industries in the last few years. Metaverse research-backed statistics on market size, user numbers, industry data and trends, and other facts are compiled in this list for a better understanding of this technology.
The Metaverse market- What is this about?
The Metaverse is an ambivalent phrase that comprises a lot. It is an online universe representing the transformation of today’s web into an immersive virtual 3D world. The metaverse aims to be accessible to everyone online and connects people from across the world in a virtual environment. Metaverses are virtual worlds where we may meet virtually and be fully involved in a virtual version of the real world. It includes virtual reality such as wearing an headset to explore virtual worlds on the web.
Key figures of the Metaverse market
- The metaverse market is worth over $38.5 billion.
- Analysts anticipate that the metaverse sector will experience an annual expansion rate of 13.1%.
- People are willing to spend as much as $1,000 on advanced VR equipment.
- The majority of investors have bought over $500 million worth of metaverse real estate so far.
- 53% of companies investing in the metaverse invest in cryptocurrencies.
- There are over 400 million active metaverse users every month.
- Roblox is the biggest virtual world in the metaverse.
- 51% of users are under 13 years old.
- 74% of American adults are considering or have joined the metaverse.
- By 2026, 25% of Americans will spend at least an hour a day in the metaverse.
- It is estimated that the Metaverse could contribute an additional five trillion US dollars to the world economy by the year 2030.
- By 2022, spending on the Metaverse was estimated at more than $120 billion.
- The global market value of the metaverse is predicted to reach $800 billion by 2024.
- 10.7 million people watched live as Marshmello performed in a Fortnite concert.
- The cumulative value of all the companies that have been created in online worlds in Web 2.0 is estimated to be $14.8 trillion.
This next web generation also consists of augmented reality that combine the digital and physical worlds, such as Snapchat filters. Metaverses have evolved in nearly every industry, including real estate, video gaming, fashion, events, and education, resulting in a lot of users in the years since. This space makes it possible to live through avatars and participate in all the human, monetary, political, and other real-life activities.
Metaverse market size
- Analysts predict that by 2024, the market value of the metaverse will have risen to $800 billion.
- At present, the Metaverse market is estimated to be worth $47 billion.
- It is forecasted that the size of the metaverse market will expand with a compound annual growth rate of 44.1%.
- By 2030, the projected market size of the Metaverse will be in the range of $8 trillion to $30 trillion.
- According to estimates, the addition of the Metaverse to the global market could bring a potential of $5 trillion by 2030.
- Every year, people spend a total of $54 billion on virtual products in the metaverse.
- It is predicted that Facebook’s Metaverse will generate a revenue of $3.1 billion in 2022.
- Meta put over $10 billion into its virtual reality section in the previous year.
- The market capitalization of Web 2.0 metaverse companies is currently $14.8 trillion.
- In 2022, investments into the Metaverse exceeded $120 billion.
Consumers and Metaverse users
- 400 million individuals are actively participating in the Metaverse.
- Roblox stands as the most expansive virtual Metaverse world with 230 million active users, followed by Minecraft with 165 million, Fortnite with 85 million, Zepeto with 2 million, Avakin Life with 10 million.
- 1.73 billion individuals will utilise mobile AR by 2024.
- 74% of Americans are either participating or thinking about participating in the metaverse.
- By 2026, 25% of individuals will spend an hour per day in the metaverse.
- 64 million Americans used Virtual Reality in 2022.
- VR users doubled from 2018 to 2022.
- Metaverse gamers are 59% male.
- 38% of metaverse gamers are aged between 10 and 20 years old.
- There are 50,000 users of Web 3.0 virtual worlds.
The Metaverse platforms
There are currently a plethora of virtual universes available, however seven main stocks are expected in 2022. At present, more than 160 businesses are developing the metaverse. A vast majority of major companies are putting money into the metaverse in some form. Possibilities for businesses to excel in the realms of Augmented Reality and Virtual Reality are seemingly infinite.
- Epic Games, the firm behind the popular game Fortnite, obtained $1 billion in funding.
- Meta is constructing software, hardware, and social elements of a metaverse.
- Niantic, the creator of Pokemon Go, recently gained $300 million.
- Microsoft purchased Activision Blizzard for $67.8 billion in order to join the gaming sector.
- Decentraland, which started in 2017, sold a piece of virtual property for $2.4 million.
The report stated that many giant firms around the world are looking at the metaverse as a fresh chance to train a more profound and creative relationship with their customers and to generate new income sources. A number of organizations have figured out how to be part of it, but some are doing innovative things.
- Gucci had a massive 19 million people flock to the Gucci Garden within the Roblox environment.
- Nike established its own ‘Nikeland‘ wherein participants could play games, socialize, and dress up their avatars with digital items like the Air Jordan and Nike Blazers.
- Acura was the pioneer when it came to assembling a virtual car showroom through Decentraland.
- Dolce & Gabanna released a collection of 9 NFTs which were made available alongside real-world couture.
- Estee Lauder made a big impact at the Decentraland’s MetaVerse Fashion Week, where they presented avatars with NFTs that enabled them to possess a “magical glow” akin to the brand’s popular night creme.
Fun facts about the Metaverse
- In 2020, Travis Scott organised a show with a viewership of 12.3 million.
- Expenditures on virtual reality property totalled $501 million during the same period.
- Snoop Dogg’s “Snoopverse” made $14 million on its opening day.
- Approximately one-quarter of US web users are intrigued in trying out augmented/virtual reality prior to buying clothes.
- 16% of American adults strongly agree that life would be more pleasurable in the metaverse than in the real world.
- It is estimated that one billion people need to be trained differently by 2030, and the metaverse could be of assistance.
- 90% of executives are of the opinion that their current education systems require updating.
- 23% of American adults want to be a different person from their actual persona.
- Only 28% of the US population can envisage educational prospects in the metaverse.
Those statistics come from this sources: Statista, Metaversed, Gartner, eMarketer, New Zoo, Bloomberg, McKinsey, Reports and Data, Citi, JP Morgan, App Annie, Forkast News, XR Today, Footwear News, Fool.com, Variety, CNBC, The Crypto Times, Rolling Stones, Insider Intelligence, Harvard Business Review, World Economic Forum, Accenture, The New York Times, CNN Business.
To learn more on metaverse and NFT market, read NFT MARKET– STATISTICS 2021-2022