Metaverse Infrastructure Market is Expected to Hit USD 1,368.3 Billion by 2028 with an Impressive CAGR of 37.5% from 2022-2028; Increasing Popularity of Metaverse to Purchase Digital Assets using Cryptocurrencies to Elevate Market Growth
SkyQuest’s latest report on the metaverse infrastructure market provides valuable insights into the market size, growth potential, and trends, which can be helpful for businesses and investors aiming to capitalize on this emerging market. The report employs advanced methodologies, including SWAT analysis, technological assessment, and economic evaluation, to ensure accuracy and comprehensiveness in its analysis. These methodologies help provide a detailed understanding of the market, including its potential growth areas and challenges.
Westford, USA, Feb. 15, 2023 (GLOBE NEWSWIRE) — The metaverse infrastructure market is set to see North America take the lead in the near future, thanks to the rapidly growing number of users across various applications. This rise in popularity is being driven by the growing integration of digital and physical worlds through the Internet, and the increasing popularity of augmented reality (AR), mixed reality (MR), and virtual reality (VR) technologies. In addition, applications such as gaming, content creation, social interaction, education, and virtual shopping are playing a major role in this growth. As a result, the increasing focus on these technologies is expected to drive the revenue growth of the market in the coming years.
SkyQuest has projected that by 2025, the number of people participating in virtual reality (VR) and augmented reality (AR) gaming worldwide is anticipated to cross 225 million. As a result of this growth, the metaverse infrastructure market is predicted to gain higher traction in the future.
Browse in-depth TOC on the “Metaverse Infrastructure Market”
- Pages – 248
- Tables – 173
- Figures – 72
The metaverse is a popular term used to describe a virtual world that is created using a combination of augmented reality (AR), virtual reality (VR), and mixed reality (MR) technologies. It offers a deeply immersive 3D experience that can be used during applications such as gaming, social interactions, conducting industry, buying and selling virtual properties, and entertainment. By leveraging these technologies, the metaverse enables users to experience an internet world that is more interactive and engaging than ever before.
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Prominent Players in Metaverse Infrastructure Market
- Sony Corp.
- Microsoft Corp.
- Google Inc.
- HTC Corporation
- Oculus VR
- Samsung Electronics Co. Ltd.
- Tencent Holdings Ltd.
- Seiko Epson Corporation
- Magic Leap Inc.
- Lenovo Group Ltd.
- Roblox Corporation
- Vuzix
- Meta Platforms Inc.
- Xiaomi Corp.
- Panasonic Corp.
- Antier Solutions Pvt. Ltd.
Virtual Reality (VR) & Augmented Reality (AR) Segment to Remain Key Revenue Contributor owing to Increasing Adoption in Gaming Industry
The VR & AR segment is expected to dominate the global metaverse infrastructure market from 2023 to 2028. The segmental growth is driven by the increasing use of AR and VR technology in the gaming industry to enhance the gaming experience, creating a more immersive and realistic environment for gamers. While virtual reality headsets are not necessary to access the metaverse, technology is still a significant component in creating a more interactive and engaging virtual world. Furthermore, AR and VR technology advancements are predicted to boost the adoption of metaverse infrastructure in various other industries, including healthcare, education, and tourism.
According to recent research, North America accounted for the largest market share of over 42% in the global market in 2021. The region’s growth is primarily due to the active presence of a large number of players operating in the market in North America. The research firm SkyQuest has found that around 245 million Americans play video games weekly, including two-thirds of adults and three-quarters of children under 18. This strong consumer demand has driven market growth in the region as businesses seek to meet the needs of the growing gaming industry.
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Media and Entertainment Industry Segment Capture Largest Market Share Thanks to Rising Investments by Leading Global Players
The media and entertainment segment is projected to be the largest revenue contributor in the metaverse infrastructure market from 2023 to 2028. The rising gaming industry globally is a key driver behind this trend, as businesses are increasingly adopting virtual reality technologies to enhance the gaming experience and create new revenue streams. In addition, with the metaverse offering immersive and engaging experiences, businesses can create new revenue streams and build stronger customer relationships.
The Asia Pacific region is emerging as a major player in the market and is poised to register exponential growth in the upcoming years. This growth is being driven by several factors, including the increasing number of startups in the region, as well as the implementation of advanced technologies such as 5G in major economies like China and India. Furthermore, with a growing number of innovative startups entering the market, the Asia Pacific region is quickly becoming a hub for metaverse technologies.
The metaverse infrastructure market is a rapidly evolving industry, and to keep pace with the latest trends and developments, companies need to have access to accurate and up-to-date information about their competitors. A new research report offers in-depth analytical insights into the major companies in this market. The report provides a comprehensive overview of these companies financials, supply chain trends, technical advancements, and key developments. It is a valuable resource for companies looking to gain a competitive advantage in the target market by understanding the strategies and tactics of their peers.
Key Developments in Metaverse Infrastructure Market
- Hadean, a metaverse infrastructure and developer startup, has announced that it has secured $30 million in new funding to help bridge the gap between the physical and virtual worlds. This new funding is expected to help Hadean maintain the best infrastructure necessary to support the future of the metaverse, as well as the developers who will build it. Hadean’s innovative approach to the metaverse has caught the attention of investors, with the latest funding round led by Draper Esprit, with participation from Edenred Capital Partners and Guinness Asset Management.
- Gym Street’s acquisition of Kabutocho Metaverse represents a significant development in the rapidly evolving virtual reality world. The combination of these two innovative metaverse platforms aims to create a comprehensive and immersive virtual experience for users by bringing together the best features of both platforms. In addition, the platform created as a result of this acquisition is powered by cutting-edge blockchain technology, providing a safe and secure environment for users to engage in a range of activities such as real estate, DeFi, NFTs, and more.
- KPMG has made a strategic investment in creating a center of excellence for metaverse technology in Saudi Arabia in collaboration with technology giants Microsoft, Ericsson, and Metakey. This move comes in response to the Saudi Arabian government’s commitment to metaverse technology to accelerate the development and adoption of the metaverse and digital twin technologies in the Middle East. The center of excellence will leverage the combined expertise and resources of KPMG, Microsoft, Ericsson, and Metakey to advance the technology and infrastructure needed for the metaverse.
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Key Questions Answered in Metaverse Infrastructure Market Report
- What are the primary drivers and barriers to growth in the metaverse infrastructure industry, and how are they expected to evolve?
- How can new players differentiate themselves from established competitors in the metaverse infrastructure market, and what are the key success factors for market entry?
- Which geographical areas are examined in the comprehensive analysis of the market, and what are the major trends and opportunities in these regions?
- Who are the key players that dominate the global landscape, and what are their strengths, weaknesses, and market strategies?
- How is the regulatory landscape shaping the development and adoption of metaverse infrastructure, and what are the potential implications for market participants?
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