Global Metaverse Strategic Market Analysis Report 2023-2030: "Phygital" is the New Era - Metaverse Job Openings on the Rise as Companies Begin to Warm Up to the Concept & Its Promised Potential
DUBLIN, Sept. 25, 2023 /PRNewswire/ -- The "Metaverse - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Metaverse Market to Reach $980.5 Billion by 2030
The global metaverse market is experiencing remarkable growth, with an estimated value of US$62.4 billion in 2022 and a projected size of US$980.5 billion by 2030.
This substantial expansion is being driven by various segments within the metaverse market, including software, hardware, professional services, consumer applications, industrial manufacturing, commercial usage, healthcare, and other verticals. These sectors are witnessing significant investments and developments, leading to substantial annual spending.
As we look ahead to 2023 and 2030, the metaverse market is expected to continue evolving and expanding across different geographic regions. Each region will exhibit unique growth patterns and trends, shaping the future of the metaverse. This digital phenomenon is poised to revolutionize numerous industries, ranging from entertainment and gaming to healthcare and industrial manufacturing, thereby reshaping the global digital landscape.
Among the segments analyzed in the report, software is projected to achieve a remarkable 40.1% CAGR, reaching US$588.9 billion by the end of the analysis period. Simultaneously, the hardware segment is expected to experience impressive growth, with an estimated 44.8% CAGR over the next eight years.
In terms of regional markets, the United States is estimated to account for a significant share, with a market size of US$26.2 billion in 2022. Meanwhile, China, the world's second-largest economy, is forecasted to exhibit substantial growth, reaching a projected market size of US$128.3 billion by 2030, with a CAGR of 45.9% during the period from 2022 to 2030.
Other noteworthy geographic markets include Japan and Canada, each forecasted to grow at rates of 35.9% and 37%, respectively, over the 2022-2030 period. In Europe, Germany is expected to experience robust growth, with an approximate CAGR of 40.2%.
With comprehensive profiles of 90 leading and emerging competitors, such as Accenture, Adobe, Epic Games, and others, this report provides valuable insights to understand the competitive landscape within the metaverse market.
Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape.
The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
METAVERSE - WATCHING THE FUTURE AS IT UNFOLDS TODAY
FOCUS ON SELECT PLAYERS (Total 90 Featured)
For more information about this report visit https://www.researchandmarkets.com/r/31vut8
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