Metaverse Market Analysis

Metaverse Market Analysis

In Canada, extended reality hardware segment held around 30% metaverse market share in 2021, owing to the increasing adoption of extended reality in the entertainment & gaming industry. The gaming sector is accelerating the adoption of 3D and smart glasses due to the ongoing trend of virtual games.
 

The market demand for extended reality hardware is further credited to the growing adoption of advanced technologies, such as IoT, AI, AR, VR, and MR. This extended reality solutions are equipped with Mixed Reality (MR) and Augmented Reality (AR), enhancing the user experience.
 

The desktop segment in the UK market is expected to register 30% growth rate during the forecast period. The growth is driven by the growing trend of PC games and ongoing popularity of virtual desktops across the country. The desktops are built with powerful and advanced graphics capabilities that render the VR experience. Moreover, metaverse companies operating in the region are developing advanced metaverse software for desktop platform, providing growth opportunities to the market.
 

In 2021, The gaming application segment accounted for 30% share in the Brazil metaverse market, due to growing adoption of AI technology across the gaming & entertainment sector. AI is extensively driving the gaming sector through its real-time customization scenarios that allow the users to pay attention to the important game details.
 

In China market, the virtual platform segment is expected to grow at 40% CAGR through 2028. Growing trend of digital transformation across end-user sectors will propel the segment growth. Virtual platforms are involved in various business activities such as development & management of immersive and designing of simulation environment.
 

The business enterprises are actively focusing on becoming more smarter through the development and adoption of advanced AI-based virtual platforms. Some of the popular platforms include Roblox, The Sandbox, and HyperVerse are introducing next-generation virtual platforms for their customers.
 

North America metaverse market is anticipated to generate a revenue of more than USD 120 billion by 2028. The market demand is impelled by growing investments in digital twin technology and favorable government initiatives.
 

The federal government of the U.S. has launched an initiative, “Open Mobility Foundation,” to explore digital twin technology for developing smarter and safer communities. Moreover, the presence of major companies in the market, such as Metaverse Platform Inc, Epic Games, and Nvidia Corp., is providing substantial growth opportunities to the market.