The metaverse has lately been a popular issue of discussion, with both Facebook and Microsoft claiming ownership. But what exactly is the metaverse?

VANCOUVER, BC, CANADA, March 8, 2022 /EINPresswire.com/ -- Global Metaverse Market Research Report is an investigative report providing an extensive study of the global Metaverse market with regards to market size, market share, current and emerging trends, and latest technological developments. The report also sheds light on the competitive landscape of the Metaverse market on the global and regional scale, along with a thorough forecast estimation to 2028

metaverse market size reached USD 47.69 Billion in 2020 and is expected to register a revenue CAGR of 43.3% during the forecast period, according to latest analysis by Emergen Research. Rising focus on converging digital and physical worlds through internet and the recent COVID-19 outbreak are expected to support market revenue growth between 2021 and 2028. In addition, increasing emphasis on developing metaverse platforms for education industry will continue to boost revenue growth of the market. 

Korea Advanced Institute of Science and Technology (KAIST) intends to develop a virtual campus in Kenya, which will start in September 2023 in Konza Technopolis in nearby Nairobi. The university desires to develop a metaverse that will run classrooms and provide an immersive learning opportunity on campus through the use of augmented reality, virtual reality, and eye tracking technology. Soonchunhyang University in Korea arranged a virtual welcoming event for freshers to participate as avatars.

However, issues about identity and reputation in metaverse are expected to hamper market revenue growth during the forecast period. When it comes to the real world, the issue of personal identity and representation is quite easy. However, when it comes to virtual worlds, verification of users is quite difficult as another individual or even a bot can attempt to replicate actual identity.

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In addition, the study probes into the major factors such as import and export status, consumption volume, supply chain management, production capability and spending power to help business owners, stakeholders as well as field marketing executives zero in on profitable business strategies and stay competitive. A thorough analysis of intense competition among the top performers and strategies that have enabled them to occupy a strong foothold in the Metaverse market makes the report a valuable resource for product owners exploring new avenues. All the vital information is presented through charts, graphs and tables and can be refereed for an industry specific presentation.

Key insights presented in the report:

Market revenue shares by major business players, by type, by application, and market scope of global Metaverse market

Sales revenue by key players and new entrants

Competitive analysis of key players, including aspects such as company overview, product or services specification, vendors, and buyers

Recent mergers, acquisitions, product launches, recent investments, and joint ventures

Regional analysis to provide insight into recent trends and opportunities

Based on the competitive landscape, the market report analyzes the key companies operating in the industry:

Facebook, Inc., Tencent Holdings Ltd., ByteDance Ltd., NetEase, Inc., Nvidia Corporation, Epic Games, Inc., Roblox Corporation, Unity Technologies, Inc., Lilith Games, and Nextech AR Solutions Corp.

The report segments the Metaverse market on the basis of geography, end-user, end-use, product application, type, share, growth rate and size to reveal where the industry will be in the coming years. The researchers assessing the industry have included the details about the recent decisions and events such acquisition and mergers, collaborations, product launch and investments. Important decisions connected with such events come handy for business owners when positioning their brands in the global market and finalizing the marketing strategies.

Key Highlights From the Report

Software segment is expected to register a substantially rapid revenue CAGR during the forecast period as companies are investing considerable efforts into developing developer-focused gaming platforms that enable users to create games or 3D environments. AI-powered 3D engines enable creation of gaming content in real-time, allowing for an diverse range of situations and making games highly engaging.

Fashion segment is expected to register a significantly robust revenue growth rate over the forecast period due to rising development of virtual runway shows platforms like IMVU. From partnering with online community artists to buying avatar clothing, IMVU's virtual runway has received much interest as more fashion businesses identify immersive experiences as an important part of the business strategy. Animal Crossing, which is a game from Nintendo Co., Ltd., has brands such as Anna Sui, Valentino, and Sandy Liang design exclusive garments for metaverse.

North America is expected to register a substantially robust revenue growth rate over the forecast period due to major presence of companies such as Facebook, Inc., Nvidia Corporation, Epic Games, Inc., and Nextech AR Solutions Corp. in the US and Canada focusing on develop metaverse platforms.

The global Metaverse market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Metaverse market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Metaverse market.

Emergen Research has segmented global metaverse on the basis of component, platform, offerings, technology, application, end-use, and region:

Component Outlook (Revenue, USD Billion; 2018–2028)

Hardware

Displays

eXtended Reality (XR) Hardware

Haptic Sensors & Devices

Smart Glasses

Omni Treadmills

AR/VR Headsets

Software

Asset Creation Tools

Programming Engines

Platform Outlook (Revenue, USD Billion; 2018–2028)

Desktop

Mobile

Offerings Outlook (Revenue, USD Billion; 2018–2028)

Virtual Platforms

Asset Marketplaces

Avatars

Financial Services

Technology Outlook (Revenue, USD Billion; 2018–2028)

Blockchain

Virtual Reality (VR) & Augmented Reality (AR)

Mixed Reality (MR)

Application Outlook (Revenue, USD Billion; 2018–2028)

Gaming

Online Shopping

Content Creation

Social Media

Conference

Virtual Runway Shows

Aircraft Maintenance

Others

End-use Outlook (Revenue, USD Billion; 2018–2028)

Fashion

Media & Entertainment

Education

Aerospace & Defence

Others

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

To know more about the report, click here @ https://www.emergenresearch.com/industry-report/metaverse-market

Key Benefits of Buying the Global Metaverse Report:

Comprehensive analysis of the changing competitive landscape

Assists in decision making processes for the businesses along with detailed strategic planning methodologies

The report offers an 8-year forecast and assessment of the Global Metaverse Market

Helps in understanding the key product segments and their estimated growth rate

In-depth analysis of market drivers, restraints, trends, and opportunities

Comprehensive regional analysis of the Global Metaverse Market

Extensive profiling of the key stakeholders of the business sphere

Detailed analysis of the factors influencing the growth of the Global Metaverse Market

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