Global Metaverse in Gaming Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast
- PUBLISHED ON
- 5/23/2023
- NO OF PAGES
- 263
- CATEGORY
- Information Communication & Technology
The global Metaverse in Gaming market size was valued at USD 22,800 million in 2022 and is projected to reach USD 119,200 million by 2033, growing at a CAGR of 37.1% during the forecast period.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 22,800 million |
Market Forecast in 2033 | USD 119,200 million |
CAGR % 2023-2033 | 37.1% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Epic Games; Roblox Corporation; Unity Technologies; Activision Blizzard; Microsoft Corporation; Sony Interactive Entertainment; Tencent Holdings Limited; Electronic Arts Inc.; Ubisoft Entertainment; Nintendo Co., Ltd. |
Global Metaverse in Gaming Market- Description
The metaverse in gaming refers to a virtual shared space where players can interact with each other and the virtual environment in a highly immersive and interconnected manner. It goes beyond traditional gaming experiences, creating a persistent and dynamic universe that combines elements of virtual reality (VR), augmented reality (AR), and the internet. In the metaverse, players can explore, socialize, trade, create, and engage in various activities, blurring the lines between the physical and digital worlds. The concept of the metaverse has gained significant attention and popularity in recent years due to advancements in technology, such as powerful computing capabilities, improved network connectivity, and the growing interest in virtual experiences. The metaverse has the potential to revolutionize the gaming industry by offering players a more immersive, interactive, and interconnected gaming experience.
Global Metaverse in Gaming market: Key Trends
• Technological Advancements
The rapid advancement of technologies such as VR, AR, cloud computing, and high-speed internet connectivity is a major driver of the metaverse in gaming market. These advancements enable developers to create more sophisticated virtual worlds, realistic graphics, and seamless multiplayer experiences, enhancing the overall immersive nature of the metaverse. There is an increasing demand for gaming experiences that go beyond traditional single-player or limited multiplayer games. Players now seek more interactive and social experiences where they can connect and collaborate with others in virtual environments. The metaverse in gaming fulfills this demand by offering a shared space where players can meet, interact, and engage in various activities together, fostering a sense of community and social connection. The metaverse in gaming presents significant monetization opportunities for game developers, publishers, and platform providers. Through virtual economies, players can buy, sell, and trade virtual assets, creating a vibrant marketplace within the metaverse. Additionally, developers can generate revenue through in-game purchases, advertising, subscriptions, and other forms of monetization. The potential for a thriving virtual economy attracts investors and motivates the industry to invest in the development and expansion of the metaverse in gaming.
• Enhanced Immersion and Personalization
The metaverse in gaming offers enhanced immersion and personalization, allowing players to create unique avatars, customize their virtual environments, and tailor their experiences according to their preferences. This level of immersion and personalization enhances player engagement and provides a more fulfilling gaming experience, attracting a wider audience and driving the growth of the metaverse in gaming market. The integration of the metaverse across multiple platforms, including gaming consoles, PCs, mobile devices, and even emerging technologies like wearable devices, contributes to its widespread adoption. Cross-platform integration allows players to access the metaverse from various devices, ensuring flexibility and convenience, and expands the potential user base for metaverse-enabled games. In summary, the metaverse in gaming represents a transformative concept that offers immersive, interactive, and socially connected gaming experiences. Technological advancements, growing demand for interactive and social gaming, monetization opportunities, enhanced immersion and personalization, and cross-platform integration are key drivers propelling the growth and adoption of the metaverse in gaming market.
Global Metaverse in Gaming market: Geographical landscape
The Metaverse in gaming market exhibits a diverse regional landscape with varying levels of adoption and growth potential across different regions. North America holds a significant share in the market due to the presence of major gaming companies and a large gaming community. The United States, in particular, is a hub for technological advancements and innovation in the gaming industry. The region benefits from a strong infrastructure, including high-speed internet connectivity and advanced gaming hardware, which supports the development and implementation of Metaverse concepts in gaming. Europe is another prominent region in the Metaverse in gaming market. Countries like the United Kingdom, Germany, and France have well-established gaming industries and a substantial user base. The region also has a strong emphasis on virtual reality (VR) and augmented reality (AR) technologies, which are integral components of the Metaverse concept. Additionally, the presence of renowned game development studios and esports organizations further contributes to the growth of the Metaverse in gaming.
Global Metaverse in Gaming Market- Recent Developments
• In 2023, Kafton, PUBG creator is set to launch the NFT metaverse game. Players will have the opportunity to delve into expansive virtual worlds, acquire and trade unique digital assets, and engage with fellow players from across the globe. The joint venture will establish its headquarters in North America, and the name will be revealed once a local corporate entity has been established. This collaboration will bring together the expertise of NAVER Z in operating metaverse social networks and KRAFTON's track record in developing renowned games. NAVER Z will focus on service planning and forging partnerships, while KRAFTON will provide sandbox tools and blockchain platforms for artists. The platform is slated to launch later this year, aiming to become a cutting-edge metaverse platform that rewards creators and ensures transparency in transactions and settlements.
Global Metaverse in Gaming market: Segmental Analysis
Platform:
• PC Gaming
• Console Gaming
• Mobile Gaming
• Virtual Reality (VR) Gaming
• Augmented Reality (AR) Gaming
Type of Game:
• Role-Playing Games (RPGs)
• Massive Multiplayer Online Games (MMOs)
• First-Person Shooters (FPS)
• Simulation Games
• Strategy Games
• Sports Games
• Puzzle Games
• Others
Global Metaverse in Gaming Market: Key Companies
• Epic Games
• Roblox Corporation
• Unity Technologies
• Activision Blizzard
• Microsoft Corporation
• Sony Interactive Entertainment
• Tencent Holdings Limited
• Electronic Arts Inc.
• Ubisoft Entertainment
• Nintendo Co., Ltd
• Others.
Global Metaverse in Gaming Market: Regional Scope
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
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• Company Share Analysis by Application/End Use
• Company Share Analysis by Product/Specification.
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