Metaverse in Gaming Market: Global Industry Overview and Forecast (2024-2030) Trends, Dynamics, Segmentation

Metaverse in Gaming Market Overview:

Metaverse is a digital platform amalgamating virtual reality into a physical world. Individual working personnel and games creating companies are eventually connected by a medium of technology known as the blockchain. The popularity of blockchain in helping the broader arena in the development of the gaming world is gaining more popularity. In addition, Metaverse is an open real-world image that offers a variety of options in the online playground in the development of VR and AR-related games.

 

Metaverse in Gaming Market report examines the market's growth drivers and segments (Conductive Material, Application, End-User, and Region). Data has been provided by market participants and regions (North America, APAC, Europe, MEA, and South America). This market study takes an in-depth look at all of the significant advancements occurring across all industry sectors. To provide key data analysis for the historical period (2024-2030), statistics, infographics, and presentations are used. The report examines the Metaverse in Gaming markets, Drivers, Restraints, Opportunities, and Challenges. This SMR report includes Metaverse in Gaming investor recommendations based on a detailed analysis of the current competitive landscape of the Metaverse in Gaming market.

 

 

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COVID-19 Pandemic on the Metaverse in Gaming Market:

Covid-19 has an unprecedented impact on people's lives. The sudden outbreak of the epidemic has led to the government's adoption of stricter laws, thus limiting travel. Such a situation obliges people to restrict themselves within closed borders, thus forcing certain activities to stay motivated. Before Covid-19, the gaming market was estimated to generate USD 120 billion in non-hardware video games. Revenue generated is three times more than the box office revenue. Few games like Minecraft, Roblox, and Grand Theft Auto are estimated to have 70-120 million active players producing approximately 1.5 billion hours of play per month.

 

While according to Verizon, Covid-19 has led to an increase in internet traffic at this time. For example, a 12% increase was evidenced by digital video traffic coupled with a 20% increase in web traffic, and the video gaming platform showed a 20% increase over the same period.

 

Metaverse in Gaming Market Dynamics:

Presence of Augmented Reality (AR) and Virtual Reality (VR) drive the market growth of the metaverse in gaming market. With the arrival of VR and AR, the gaming industry has seen a sudden improvement in its gaming platforms. Technological advances in descriptively visualizing the physical world and making users feel extraordinary experience set new trends in the growth of the gaming industry. For example, Meta has made technological changes in its Virtual Reality company known as Oculus. The company is estimated to sell about 10 million Quest 2 headsets worldwide by October 2020. Therefore, Meta is ready to launch new games and non-Metaverse gaming games. Also, Meta has partnered with other developers of the popular Virtual Reality game such as Downpour Interactive, BigBox and Beat Games to host Metaverse in Game Market opportunities.

 

The features such as captivated experience due to the increasing demand for online games and user experience not being able to distinguish between the physical and virtual environment are expected to advance the metaverse gaming industry. In addition, activities such as the addition of digital data and real-time information in one place are expected to further Metaverse in the growth of the Gaming Market.

 

Ideas like playing to get in online games improve the metaverse gaming industry. The concept of online gaming is changing rapidly, with the benefit of NFT (Non-Fungible Tokens) gaining momentum in the metaverse gaming industry. The current state of online games has completely changed with the introduction of blockchain technology that allows players to invest and make huge profits. The interest in online gaming continues in a new direction, thanks to the release of new gaming platforms and opportunities to profit from them. In such cases, it is interesting to see the financial institutions investing heavily in developing gaming platforms that bring more people to play online games. For example, it is estimated that the global gaming industry has seen an estimated $ 9.6 billion in the last 18 months, citing the growth of the metaverse gaming industry.

 

Concerns about digital privacy and data collection hinder the market growth. The rise of Metaverse in sports and related technologies raises concerns related to specific digital privacy concerns. According to the Electronic Frontier Foundation (EFF), privacy concerns are related to personal location tracking, where data collected by AR mirrors is expected to identify user location. In addition, the facial technologies used during the process are expected to be shared with the private and public sectors, which is a sad problem.

 

In addition, wearable metaverse tech is expected to collect various personal data from users. Both AR and VR technology have a high potential for data collection using eye-tracking sensors that are less sensitive to individual privacy. In addition, wearable devices can collect biometric data in close quarters, thus interfering with the privacy of nearby people. Because of the above technological advancement in AR and VR, it is expected to hamper the growth of the Metaverse in the Gaming Market.

 

Neuralink is expected to be an innovative technology that will boost Metaverse's growth in the Gaming Market. Neuralink, the most promising technologies expected to grow soon, thanks to its capabilities to allow users to start or perform work with brain signals. For example, Neuralink recently tested a macaque monkey called Pager with a Neuralink chip on each side of the brain and is now able to successfully play pong games with the help of measured brain signals. Neuralink technology integrated with VR headsets is expected to bring about a change that will allow users to have a realistic experience and easily play games.

 

The global Metaverse in the gaming market has seen significant growth due to technological change over the last few years and is predicted to grow substantially in the coming years. The metaverse value chain analysis of the gaming market includes four primary levels: hardware/software providers, cloud vendors/service providers, system integrators, and end-users.

 

Best of all, companies like Apple have embarked on research and development programs in metaverse projects that will combine the unrealistic reality with the unpopular truth of taxpayers we see to deliver a headset expected to cost around USD 3000. USD 10 billion more. Years to come to improve metaverse technology. Such investments will empower the online gaming industry soon.

 

Metaverse in Gaming Market Segment Analysis:

By Technology, the AR & VR technologies segment is the largest technology-based market segment. AR & VR technology has contributed to the growth of metaverse technology. The increase in demand for AR glasses and VR devices and the growing number of games that support VR have led to the development of the AR & VR segment. The growing acceptance of generated funds and the growing number of hidden funds are expected to contribute to the expanding of the blockchain segment. The increasing demand for NFT and the increasing number of gaming companies releasing a limited NFT system are expected to increase blockchain technology adoption for metaverses games.

 

By Type, the virtual reality component is expected to be part of the most dominating market segment. Metaverses based on virtual realities are more common in Metaverse in the gaming market. Virtual reality has been key to the development of metaverse technology. The ability of virtual reality to create interactive 3D environments has led to the significant growth of the virtual reality component.

 

The AR segment is expected to be the second largest in the Metaverse in gaming market. The growing demand for AR glasses and the popularity of a slightly immersed sensor are driving the market segment. The cost-effectiveness of AR over VR is expected to contribute to the growth of half augmented reality.

 

By Age Rating, the above 18 segment is the largest market segment based on age. The high cost of AR and VR devices and the unknown risks of long-term exposure of children in the AR and VR environment, and a large number of mature contents such as gambling and violence or mixed games in the Metaverse in Gaming market have led to an increase in the share of metaverse portion of the gaming market. A growing number of sports companies looking to create a metaverse for children and young adults is expected to emerge from categories 13-18 into a fast-growing segment. 

 

Metaverse in Gaming Market Regional Insights:

North America (United States, Canada, and Mexico) will dominate the Metaverse in the Game market from 2024 to 2030. Many people in the region with technical knowledge and the presence of major industrial players in the area have led to regional metaverse dominance in the sports market. The United States is expected to dominate North America in the Metaverse in Gaming market. It is due to the presence of major industry players in Silicon Valley and the considerable availability of available income among the people of the country.

 

The Asia-Pacific region is expected to be the fastest-growing region in the Metaverse in Gaming market at the time of the forecast. The region's growing population, the growing number of internet users, and the growing availability of AR and VR devices are expected to boost the game market in the Asia Pacific region.

 

China is predicted to dominate in the Asia-Pacific region in Metaverse in Gaming market. The increasing demand availability of cheap AR and VR equipment in the country, the increasing number of game enthusiasts, and the growing number of companies investing in metaverse applications are the leading market.

 

The objective of this report is to present an in-depth analysis of the Metaverse in Gaming Market to industry stakeholders. The report provides the recent trends in the Metaverse in Gaming Market and how these factors will impact new business investment and market enhancement during the forecast period. The report also provides an understanding of the potential of the Metaverse in Gaming Market and the competitive structure of the market by analyzing market leaders, market fans, and regional players.

 

The quality and quantity data provided in the Metaverse in Gaming Market report assist the readers to understand which market Conductive Materials, regions are expected to grow in value, market factors, and key opportunity areas, which will impact industry growth and predictable market growth concerning time. The report includes the competitive status of key competitors in the industry and their recent developments in the Metaverse in Gaming Market. The report also provides a comprehensive set of factors such as company size, market share, market growth, revenue, production capacity, and profits of key players in the Metaverse in Gaming Market.

 

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Market. The report also analyses if the Metaverse in Gaming Market is easy for a new player to gain an edge in the market, do they come and go in the market regularly if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political factors that help in analyzing how much a government can impact the Market. Economic variables assist in the calculating economic performance drivers that can affect the Market. Analyzing the impact of the overall environment and the impact of environmental concerns on the Metaverse in Gaming Market is aided by legal factors.

 

Metaverse in Gaming Market Scope:

Metaverse in Gaming Market
Market Size in 2023	USD 70.31 Bn.
Market Size in 2030	USD 677.03 Bn.
CAGR (2024-2030)	38%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Types VR components AR components
	by Age Above 18 Between 13 to 18
	By Technology VR AR NFT
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Metaverse in Gaming Market Key Players:

• Roblox Corporation (US)
• Tencent Holdings Ltd. (China)
• Epic Games (US)
• Magic Leap Inc. (US)
• Lilith Games (China)
• Decentraland (China)
• The Sandbox (Hong Kong)
• Microsoft (US)
• Unity (US)
• NVIDIA (US)
• Autodesk (US)
• Oculus (US)
• Meta Horizon (US)
• Nazara Technologies (India)
• Google (US)