The global metaverse landscape has grown tremendously in recent years, driven by the surging use of technology in gaming and ecommerce. However, with other markets like advertising, health and fitness, education, and live entertainment also embracing the metaverse, the entire industry will increase more than sixfold in the following years.
According to data presented by AltIndex.com, the global metaverse market is expected to grow by a whopping 575% and reach a value of over half a trillion dollars by 2030.
Market Size to Grow by an Average of $100 Billion Per Year
The increasing adoption of virtual reality (VR), augmented reality (AR), and mixed reality (MR) technologies, the rising demand for immersive user experiences across sectors and significant investments by major companies like Meta and Microsoft in developing metaverse infrastructure, have created the perfect ground for the metaverse market growth.
Since 2022, the entire industry has grown by 63% and hit a $75 billion value. And while this is quite an impressive increase in just two years, the market projections show much bigger growth rates in the following years. According to Statista Market Insights survey, the size of the global metaverse market is expected to grow by an average of $100 billion per year and hit more than half a trillion dollars by 2030. This means the metaverse market will increase by 575% in the next six years.
Statistics show metaverse ecommerce and gaming will make up almost 75% of that value. The metaverse ecommerce segment is forecasted to grow by 587% and hit a $210 billion value by 2030, up from $30.6 billion this year. The metaverse gaming segment will see an impressive 70% growth in this period, with its value jumping from $20.9 billion to $168 billion.
Statistics show that the metaverse health and fitness market will grow by 560% in the next six years and hit a value of $56.1 billion. Metaverse workplaces follow with a 465% six-year growth and a market size of $27.7 billion by 2030. The Statista survey also showed metaverse education will grow the most of all market segments, rising by a whopping 887% and reaching a value of close to $25 billion by 2030.
Metaverse to Reach 2.6 Billion People by 2030, 4x more than the Earlier Forecast
With tech giants like Meta and Microsoft continuing to pour money into metaverse projects, it’s evident that metaverse is poised to become a large and lucrative business that will reach more users than ever in the following years.
According to Statista’s forecast, the total number of users in the metaverse landscape is projected to hit almost 2.6 billion by the end of the decade, four times more than the earlier forecast and three times more than this year. The total addressable market or the revenue opportunity for metaverse products and services in the conservative scenario, where 15% of the digital economy shifts to the metaverse, is expected to hit $1.9 trillion in this period. In the optimistic scenario, where 35% of the digital economy shifts to the metaverse, this value jumps to $4.4 trillion.
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This news is republished from another source.
