By 2030, the global metaverse market could be worth $322 billion

Aug 11, 2023

Metaverse Market Poised for Remarkable Growth

ResearchAndMarkets’ latest report forecasts the metaverse market's value to surge from $42.05 billion in 2021 to a staggering $322 billion by 2030. This exponential growth is attributed to rising demand for immersive experiences, a booming blockchain gaming industry, and increasing blockchain adoption.

Segments Unveiled

The global metaverse market is segmented by type (mobile and desktop metaverses), technology (blockchain, VR, AR, mixed reality), applications (gaming, shopping, content creation, social media), and region. Immersive experiences drive metaverse development as people seek innovative digital interaction platforms.

Overcoming Challenges and Regulations

Despite its potential, the metaverse faces hurdles like data storage and regulatory ambiguity. Technical investment and clear regulations are vital for sustained growth and innovation.

Trends and Adoption

Real-world companies like Animoca Brands Corp and Walmart embrace the metaverse's potential, with investments driving product development. FIFA's exploration highlights the allure, and cryptocurrencies such as ICP, SAND, RNDR, MANA, and AXS play a pivotal role in shaping the metaverse ecosystem, propelling its market cap to $6.83 billion.

Source: crypto.news