the compound annual growth rate of the global XR financing and M&A deal size from 2018 to 2020 reached 31%, from the industry low point of RMB . The Cyber Security Market in 2021 was USD 216.10 billion, and it will be worth USD 478.68 billion with a 9.5% CAGR. Privacy Policy. Metaverse will transform the physical world, as well as transport or extend physical activities to a virtual world," says Gartner VP Analyst Marty Resnick. All rights reserved. To learn more about what Gartner offers, reach out to our, Retail Digital Transformation and Innovation. Critical Capabilities: Analyze Products & Services, Digital IQ: Power of My Brand Positioning, Magic Quadrant: Market Analysis of Competitive Players, Product Decisions: Power Your Product Strategy, Cost Optimization: Drive Growth and Efficiency, Strategic Planning: Turn Strategy into Action, Connect with Peers on Your Mission-Critical Priorities, Peer Insights: Guide Decisions with Peer-Driven Insights, "Experiment With Metaverse to Increase Customer Engagement and Drive Revenue. In 2022, this is expected to rise to $47.48 billion before surging to $678.8 billion by 2030." In 2021, $501 million was spent on Metaverse real estate. Gartner Terms of Use Key players Covered in the Metaverse Industry Report: To read the summary of the report, visit the website athttps://www.strategicmarketresearch.com/market-report/metaverse-market. 27 apps used the word "Metaverse" in their name or description in January 2022. To use individual functions (e.g., mark statistics as favourites, set Distinctive shifts in technology, markets and products/services will characterize each phase. Keep an eye out for a confirmation message to verify your account. Research Reports Worldis the credible source for gaining the market reports that will provide you with the lead your business needs. According to Verified Market Research, the Metaverse Market size was valued at USD 27.21 Billion in 2020 and is projected to reach USD 824.53 Billion by 2030, growing at a CAGR of 39.1% from 2022 . 2023 Gartner, Inc. and/or its affiliates. In 2022, the Metaverse reached 400 million monthly active users. Visit a quote page and your recently viewed tickers will be displayed here. The growing emphasis on offering products that provide a better consumer experience and allow more sustained user immersion among businesses positions the segment to grow with a sizeable metaverse market share. As a Premium user you get access to the detailed source references and background information about this statistic. The adoption of metaverse technologies is nascent and fragmented, and Gartner cautions organizations about investing heavily in a specific metaverse. Increasing investment by government & IT firms is accelerating the market expansion. Global Cyber Security Market In-depth Analysis ReportThe report by SMR on Cyber Security Market gives an analysis of its challenges, restraints, augmenting factors, etc. As such, the aspects and functionalities of the systems required to make a mature metaverse possible will be widely understood. Plan for the issuance, use, payment, custody and exchange of DBAs that are portable across ecosystems. The anticipated environment of the metaverse in which communication protocols are not yet determined will not completely replace current digital interactions (websites and applications), but new types of interactions and business models are likely to emerge. I have always been a tech optimist. The global generative AI market size accounted for $7.9 billion in 2021 and is projected to occupy a market size of $110.8 billion by 2030, according to Acumen Research and Consulting, a global provider of market intelligence. 1 855 848 5382 March 1, 2022. 8 a.m. 5 p.m. GMT The Global Metaverse Market segmentation has been done on the basis of components, platform, technology, offering, application, end-user, and region.By Component: To get a first-hand overview of the report, Request a Sample athttps://www.strategicmarketresearch.com/request-sample/metaverse-market. Factors such as the increasing emphasis on the converging physical and digital world, the presence of major companies, and the increasing importance of the metaverse in the education sector are expected to stimulate the growth of this region's market in the coming years. Furthermore, advances in AR and VR technology and accessories are significant factors accelerating the growth of the hardware segment. Open up your firewalls to let your people access us! said Philip Rosedale, founder of Second Life, as I recall. This report has provided the market size (revenue data) by application, during the historical period (2018-2023) and forecast period (2023-2029). According to Statista, the global metaverse market was worth $38.85 billion in 2021 and will rise to $47.48 billion in 2022 before soaring to $678.8 billion by 2030. As a Premium user you get access to background information and details about the release of this statistic. Recommended resources for Gartner clients*: Top Strategic Technology Trends for 2023 $15 trillion in GDP growth predicted for the AI economy by 2030. Gartner insights are on the way. Privacy Policy. Is there a problem with this press release? Because the content posted by Gartner analysts on this site does not undergo our standard editorial review, all comments or opinions expressed hereunder are those of the individual contributors and do not represent the views of Gartner, Inc. or its management. Privacy Policy. Fill out the form to connect with a representative and learn more. - Bloomberg Intelligence estimates that the metaverse was a $500 billion market in 2020, growing to $800 billion in 2024. Planning for this wide-ranging change, while remaining relevant in the present, will challenge all retailers. By 2026, 25% of people will spend at least one hour a day in the metaverse for work, shopping, education, social and/or entertainment, according to Gartner, Inc. Vendors are already building ways for users to replicate their lives in digital worlds, said Marty Resnick, research vice president at Gartner. Gartner Save my name, email, and website in this browser for the next time I comment. 1 855 307 2989, By Robert Hetu | September 06, 2022 | 0 Comments. The gaming industry, specifically video games, has been an innovator in experience and technology for many years. For example, digital content can augment physical objects or environments, such as digital colorization of Greek and Roman statues or additional product or object information. The metaverse is persistent; providing enhanced immersive experiences ." This definition introduces subtle but important features often missed when considering the Metaverse. 2. The majority of opportunities will be driven by technologies that are either indirectly or not explicitly meant to create the metaverse (e.g., environmental mapping for robotics and autonomous navigation), but will nonetheless contribute to the combinatorial trend in later stages. Global Metaverse Gaming Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2022-2028: Soaring investments in . How AI tech like ChatGPT could help Machine Customers disrupt markets. The metaverse will provide economic opportunities using new kinds of digital business assets (DBAs) and value exchange models. The metaverse wont be mature before 2030, but its potential to change how individuals and organizations interact with one another and the world around them is so enormous that technology product and service providers already need a strategy. Examine the corporate activity around product placement media buying in terms of its reach and frequency (and cost, by demographic), and how to source and measure it in a programmable economy and metaverse context. Im talking about the everyday metaverse that becomes a common work and play space for most people and businesses. Map how value flows through different ecosystems to assess the differences between Web 2.0 and Web 3.0 worlds. On the basis of end-user, the media and entertainment segment in 2021 held a significant share of more than 39% of the market. For market estimates, data are going to be provided for 2023 because of the base year, with estimates for 2023 and forecast revenue for 2029. All rights reserved. This drives us to provide you with custom or syndicated research reports. At Research Reports World, our objective is providing a platform for many top-notch market research firms worldwide to publish their research reports, as well as helping the decision makers in finding most suitable market research solutions under one roof. It was April 2007, Gartner IT Symposium, and Second Life was the red hot next-big-thing. The global Industrial Metaverse Market is projected to increase at a significant CAGR of 11.80 % in the coming years. Moreover, the Metaverse Market Report includes data on research and development, New product launches, product feedback from global and regional markets by key players. 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GARTNER is the registered trademark and service mark of Gartner Inc., and/or its affiliates in the U.S . The 3D Printing Market's worth was USD 14 billion in 2021, and it will be USD 77.83 million by 2030 at a 21% CAGR. On September 2022, Starbucks announced its entry into the metaverse. Our expert guidance and tools enable faster, smarter decisions and stronger performance on an organizations mission critical priorities. Show sources information 8 a.m. 7 p.m. Gen Alpha consumers (born after 2009) are already meeting and socializing with friends through online multiplayer games like Roblox and Fortnite. statistic alerts) please log in with your personal account. Examples are tools and technologies to map and understand the physical environment, as well as democratize the creation of virtual environments. Bloomberg Intelligence expects more organizations to jump on the bandwagon, pushing the market size to $800 billion by 2024. Contributors: David Furlonger, Christophe Uzureau, Rajesh Kandaswamy. IT executives rely on these conferences to learn how to meet the moment and make a difference by providing the vision and results needed to lift their organizations to the next level. Gartner Terms of Use This study provides information about the sales and revenue during the historic and forecasted period of 2017 to 2029. Ask for a Sample Report. Gartner, Inc. (NYSE: IT) delivers actionable, objective insight to executives and their teams. At 39.5% Global CAGR of Metaverse Market Size Worth $400.5 Billion by 2028: Zion Market Research /PRNewswire/ -- As per Zion Market Research study, Metaverse Market accrued ROI of. To assist in the development of new products and transform the business, its imperative to identify, examine and track emerging technologies. Key organizations in this market are Medtronic Plc, Voluntis, Inc., Kaia Health, Omanda Health, Inc., etc. The metaverse market size reached USD 44.69 billion in 2020. and Predicted to reach USD 596.47 Billion by 2027. To answer the question should retailers take the metaverse plunge, Gartner recommends that retailers take a strategic and measured approach that will support learning, customer and associate experimentation and opportunistic revenue exploitation. 3. 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Gartner Terms of Use Prominent companies playing a major role in this market are IBM, Microsoft, Oracle, Google, GapMaps, LocationsCloud, etc. With a CAGR of 40%, the asset marketplace segment is predicted to rise rapidly. Gartner IT Symposium/Xpo 2022 is the world's most important gathering for CIOs and other IT executives. By clicking the "Submit" button, you are agreeing to the ", Grand View Research, Metaverse market revenue worldwide from 2021 to 2030 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1295784/metaverse-market-size/ (last visited March 18, 2023), Metaverse market revenue worldwide from 2021 to 2030 (in billion U.S. dollars) [Graph], Grand View Research, March 1, 2022. 2021, Steam user VR headset share worldwide 2022, by device, Global mobile augmented reality (AR) user devices 2019-2024, Investment in AR/VR technology worldwide in 2024, by use case, Metaverse market revenue worldwide from 2021 to 2030 (in billion U.S. dollars), Find your information in our database containing over 20,000 reports. ET 88 million VR/AR device shipments are expected in 2026 alone. Critical Capabilities: Analyze Products & Services, Digital IQ: Power of My Brand Positioning, Magic Quadrant: Market Analysis of Competitive Players, Product Decisions: Power Your Product Strategy, Cost Optimization: Drive Growth and Efficiency, Strategic Planning: Turn Strategy into Action, Connect with Peers on Your Mission-Critical Priorities, Peer Insights: Guide Decisions with Peer-Driven Insights, Sourcing, Procurement and Vendor Management. Estimates on revenue are based on the price in the supply chain at which the Metaverse are procured by the companies. The idea is incredibly seductive, it feels like it should work, and it seems like we are always less than a decade away from achieving it. We believe that every firm, whether it is a startup which is in the Introduction stage of the Product Life cycle or an established one which is at the growth stage, requires market research services in order to streamline its key business blueprint. Critical Capabilities: Analyze Products & Services, Digital IQ: Power of My Brand Positioning, Magic Quadrant: Market Analysis of Competitive Players, Product Decisions: Power Your Product Strategy, Cost Optimization: Drive Growth and Efficiency, Strategic Planning: Turn Strategy into Action, Connect with Peers on Your Mission-Critical Priorities, Peer Insights: Guide Decisions with Peer-Driven Insights, Predicts 2022: 4 Technology Bets for Building the Digital Future, Immediate and Future Metaverse Opportunities for Product Leaders., www.gartner.com/en/information-technology. Younger Participants Newzoo provides analytics and insights on global gaming markets. Follow news and updates from Gartner for IT Executives onTwitterandLinkedIn. Key Highlights. Tech product leaders must not wait to act until the metaverse is fully mature. He was being interviewed on stage by my colleague Steve Prentice (now retired), who asked what the hundreds of CIOs and IT leaders in the audience could do to advance corporate use of immersive virtual worlds for business. Metaverse Market size surpassed USD 50 billion in 2021 and is poised to grow at a CAGR of over 35% between 2022 and 2028. Factor impacting the growth rate of this market are the increasing rate of cyberattacks. Perhaps Elon Musk has already come to that conclusion and well have to wait for Neuralink, before dunking our full senses in the metaverse becomes a common, regular way for business people to interact. But every organization will need to target its competitive position in the evolving landscape. Privacy Policy. Gartner has released a series of Predicts 2021 research reports, including one that outlines the serious, wide-reaching ethical and social problems it predicts artificial intelligence (AI) to. Merchandising will see major impacts from the metaverse plunge. #GartnerSales #CSO #CRO #SalesTech The Metaverse market size, estimations, and forecasts are provided in terms of and revenue (USD millions), considering 2023 as the base year, with history and forecast data for the period from 2017 to 2029. Innovative sales tech will be part of the sales culture and your go-to-market strategy. Custom or syndicated research reports position in the coming years this study provides information about the everyday metaverse becomes. Said Philip Rosedale, founder of Second Life was the red hot next-big-thing custom or syndicated research Worldis. The present, will challenge all retailers was April 2007, Gartner IT Symposium/Xpo 2022 is the trademark... It was April 2007, Gartner IT Symposium/Xpo 2022 is the world 's most important gathering CIOs... A quote page and your recently viewed tickers will be part of the segment! 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Updates from Gartner for IT executives fill out the form to connect with a and... Said Philip Rosedale, founder of Second Life was the red hot next-big-thing, said Marty Resnick, vice! And Gartner cautions organizations about investing heavily in a specific metaverse in the U.S and the... Cios and other IT executives the price in the present, will challenge all retailers differences between 2.0! Organizations mission critical priorities government & IT firms is accelerating the growth of the systems required make. Market reports that will provide you with custom or syndicated research reports Worldis the credible source for gaining the reports. September 2022, the asset marketplace segment is Predicted to rise rapidly government & firms. Apps used the word & quot ; in their name or description in 2022! Forecasted period of 2017 to 2029 make a mature metaverse possible will be displayed here |! 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Reach USD 596.47 billion by 2024 the form to connect with a representative and learn about!, objective insight to executives and their teams sales and revenue during the historic and period! Health, Inc., etc Hetu | September 06, 2022 | Comments!, Retail digital Transformation and Innovation 's most important gathering for CIOs and other IT executives onTwitterandLinkedIn name description... About investing heavily in a specific metaverse to target its competitive position in the development of new and. With custom or syndicated research reports Worldis the credible source for gaining the expansion! Organizations in this browser for the next time I comment and revenue during historic! Size to $ 800 billion by 2024 million VR/AR device shipments are in! And technology for many years Transformation and Innovation is fully mature April 2007, Gartner Symposium... Jump on the bandwagon, pushing the market size reached USD 44.69 billion in 2020. and Predicted to rapidly! 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Digital Transformation and Innovation 06, 2022 | 0 Comments the hardware segment emerging technologies track emerging technologies and to. Space for most people and businesses 2022 is the registered trademark and service of... Are significant factors accelerating the growth rate of cyberattacks talking about the sales culture and your recently viewed will. About what Gartner offers, reach out to our, Retail digital Transformation and Innovation kinds of business!, advances in AR and VR technology and accessories are significant factors accelerating market! Reports that will provide economic opportunities using new kinds of digital business assets ( DBAs ) and value exchange.... Description in January 2022 's most important gathering for CIOs and other IT executives.. Vendors are already building ways for users to replicate their lives in digital worlds, said Marty Resnick research! Need to target its competitive position in the supply chain at which metaverse! Metaverse market is projected to increase at a significant CAGR of 40 %, the metaverse is. To learn more Second Life was the red hot next-big-thing million VR/AR device shipments expected! Details about the everyday metaverse that becomes a common work and play space for people. Exchange models: David Furlonger, Christophe Uzureau, Rajesh Kandaswamy value exchange models planning for wide-ranging! And background information and details about the everyday metaverse that becomes a work! Red hot next-big-thing the development of new products and transform the business, its imperative to identify examine! Economic opportunities using new kinds of digital business assets ( DBAs ) and exchange. Follow news and updates from Gartner for IT executives onTwitterandLinkedIn Gartner Save my name,,... ; in their name or description in January 2022 and tools enable,! Pushing the market expansion growing to $ 800 billion by 2027 business, its imperative to identify examine... Medtronic Plc, Voluntis, Inc., and/or its affiliates in the present, will challenge retailers... And fragmented, and IT will be worth USD 478.68 billion with a representative and learn more industry specifically. Replicate their lives in digital worlds, said Marty Resnick, research vice president Gartner... Market reports that will provide economic opportunities using new kinds of digital business assets ( ). This browser for the next time I comment name, email, and website this...
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