BANGALORE, India, June 17, 2022 /PRNewswire/ — Global Metaverse industry report segmented by type (VR headsets, smart glasses, software) and applications (content creation, gaming, social, conferencing, education, industrial) : Opportunity Analysis and Industry Forecast, 2022-2028.It is published in the evaluation report under the virtual world category.
The global Metaverse market size is expected to grow from $510 million in 2022 to $28 billion by 2028, at a CAGR of 95% from 2022-2028.
Increasing applications in gaming, social conferencing, content creation, education, and industrial sectors are expected to drive the growth of the Metaverse market.
Gaming is reportedly one of the most popular metaverse apps.Playing in the metaverse allows players to engage in social gaming, allowing them to meet new friends and expand their social circle.Have portable game assets, such as avatars and weapons, that are associated with the player and have value in the virtual environment.Anything is possible in the virtual world, so developing content for the game is an important part of Metaverse games.They can create content and integrate it into the game.Get an augmented reality experience with a workflow very similar to the real world.These factors are expected to drive the growth of the Metaverse market.
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Metaverse will be a social media extension that incorporates immersion to provide users with new experiences.Metaverse will combine common social media capabilities such as collaboration, e-commerce and live events with immersive virtual reality (VR) and augmented reality (AR) experiences.This factor will contribute to the continued expansion of the Metaverse market.
Additionally, Metaverse will transform video conferencing by allowing thousands of people to see and hear the presenter at the same time, regardless of the number of computer screens or cameras available.Metaverse creates interactive video conferences with consumers by combining telepresence and virtual reality.It can be used for live video conferencing to make communication more engaging and engaging.
The potential benefits that Metaverse offers to content creators are expected to boost the Metaverse market.Thanks to advances in VR and AR, Metaverse is expected to help artists create more interactive and immersive content.The stakes will be higher than ever, and producers need to create content that is more immersive and interactive than ever.In our increasingly global and distributed society, the metaverse will allow creators to connect and interact with a wider audience.Creators will be able to accurately translate their work, including cultural subtleties, using natural language processing and AI-powered translation tools.
The Metaverse will encourage learners to think outside the box as the possibilities are endless.They can generate their own content by participating in scavenger hunts, building challenges, and other activities.Learners will be able to improve their critical thinking skills and learn how to collaborate with others through this form of engagement.In addition, the Metaverse platform uses blockchain technology to record academic records.In this way, transcripts, degrees and other documents are private, secure and verifiable.It can also help students and professors assess courses by reducing paperwork and providing much-needed data.
The gaming sector is expected to be one of the most lucrative, depending on the application.The current development of the game industry has led to Metaverse Games.In order to participate in next-generation games, players are traveling to the real world of the Metaverse.While Metaverse can be centralized or decentralized, gaming businesses are focusing their efforts on decentralized initiatives because decentralization is the way of the future.
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Based on type, VR headsets and smart glasses are expected to be one of the most profitable segments.The market is expanding as video game revenue increases and the number of people playing video games grows globally.As the number of people playing video games increases, so does the demand for virtual reality headsets and smart glasses.
Regionally, North America is expected to be the most profitable region.This is attributable to the region’s increasing emphasis on developing virtual world platforms for the education industry, as well as increasing emphasis on merging the digital and physical worlds through the Internet.
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- The global virtual reality headset market size is expected to increase from USD 9,457.7 million in 2020 to USD 42.1 billion by 2027, growing at a compound annual growth rate (CAGR) of 23.2% during the forecast period 2021-2027.
- The augmented and virtual reality market size was valued at USD 14.84 billion in 2020 and is expected to reach USD 454.73 billion by 2030, growing at a compound annual growth rate (CAGR) of 40.7%.
- The global mixed reality market size is expected to reach USD 2,482.9 million by 2028 from USD 331.4 million in 2021, growing at a CAGR of 28.7% during 2022-2028.
- The global smart glasses market size was estimated at USD 6,894.5 million in 2022 due to the COVID-19 pandemic and is expected to be an adjusted size of USD 19.09 billion by 2028, growing at a CAGR of 18.5% during the period under review.
- The global augmented reality market size is expected to grow from USD 25.31 billion in 2021 to USD 67.87 billion by 2028, at a CAGR of 15.0% during 2022-2028.
- The global gaming headset market size was estimated at USD 2,343.5 million in 2022 due to the COVID-19 pandemic and is expected to grow at an adjusted size of USD 3,616.6 million by 2028, growing at a CAGR of 7.5% during the period under review.
- The global gaming laptop market size was estimated at USD 12.21 billion in 2022 due to the COVID-19 pandemic and is expected to reach an adjusted size of USD 17.23 billion by 2028, growing at a CAGR of 5.9% during the period under review.
- The global cloud gaming market size is expected to reach USD 1,169.1 million by 2027, from USD 133.7 million in 2020, at a CAGR of 35.4% during 2021-2027.
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Post time: Jun-18-2022
