Overview and Scope
The metaverse in gaming refers to a virtual shared space where users can interact with each other and digital assets in real-time, often across multiple platforms and games. It’s a convergence of virtual reality, augmented reality, and the internet, aiming to create immersive, persistent worlds beyond individual game experiences.
Sizing and Forecast
The metaverse in gaming market size has grown exponentially in recent years. It will grow from $33.6 billion in 2023 to $47.7 billion in 2024 at a compound annual growth rate (CAGR) of 42%. The growth in the historic period can be attributed to growing popularity of owning virtual assets such as NFTs, the development of gaming, development of VR and AR-related games, and research and development in metaverse.
The metaverse in gaming market size is expected to see exponential growth in the next few years. It will grow to $194.92 billion in 2028 at a compound annual growth rate (CAGR) of 42.2%. The growth in the forecast period can be attributed to expanding implementations of metaverse, the rising popularity of AR and VR, rapidly rising popularity of play-to-earn games, demand for immersive gaming experiences, and rising investment. Major trends in the forecast period include advancements in VR software, technological developments, innovative marketing strategies, enhancement of gaming experience through integration of 3D technology, and rapid advancements in gaming software.
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Segmentation & Regional Insights
The metaverse in gaming market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Non-Fungible Token (NFT), Blockchain, Virtual Reality, Augmented Reality, Mixed Reality, Extended Reality
3) By Genre: Action, Adventure, Role-Playing Games (RPGs), Simulation, Sports And Racing, Strategy, Sandbox, Card And Casino Games, Other Genres
4) By Age Group: Below 21 Years, 21 – 35 Years, 36 – 50 Years, 51 Years And Above
North America was the largest region in the metaverse in gaming market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the metaverse in gaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising popularity of augmented reality (AR) and virtual reality (VR) is expected to propel the growth of the metaverse in the gaming market going forward. Augmented reality (AR) enhances the real world with digital content, while virtual reality (VR) immerses users in entirely digital environments through specialized headsets. The growing popularity of AR and VR stems from their ability to provide immersive, interactive experiences across gaming, education, healthcare, and entertainment, transforming digital content interaction and real-world engagement. AR and VR use the metaverse in gaming to create immersive and interconnected virtual experiences, allowing players to interact with each other and digital environments seamlessly, enhancing gameplay and social interaction. For instance, in February 2023, according to XR Today, a UK-based technology podcast company, approximately 57.4 million people in the United States owned a VR headset in 2020, and this figure had risen to 37.7 million in 2022. Therefore, the rising popularity of AR and VR is driving the growth of the metaverse in the gaming market.
Key Industry Players
Major companies operating in the metaverse in gaming market are Microsoft Corporation, Meta Platforms Inc., Sony Corporation, Fujitsu Limited, Nvidia Corporation, WPP plc, NetEase Inc., Electronic Arts Inc., Vertiv Group Corporation, Epic Games Inc., Autodesk Inc., Roblox Corporation, Unity Software Inc., Axie Infinity, Magic Leap Inc., Kellton Tech Solutions Ltd., LeewayHertz Inc., Aetsoft Inc., Aptos Labs, SmartMedia Technologies Inc., Spatial Systems Inc., The Sandbox
The metaverse in gaming market report table of contents includes:
1. Executive Summary
2. Metaverse In Gaming Market Characteristics
3. Metaverse In Gaming Market Trends And Strategies
4. Metaverse In Gaming Market – Macro Economic Scenario
5. Global Metaverse In Gaming Market Size and Growth
….
31. Metaverse In Gaming Market Other Major And Innovative Companies
32. Global Metaverse In Gaming Market Competitive Benchmarking
33. Global Metaverse In Gaming Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Metaverse In Gaming Market
35. Metaverse In Gaming Market Future Outlook and Potential Analysis
36. Appendix
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