Global Metaverse Market Set to Reach USD 659.7 Billion by 2030, With a Sustainable CAGR of 37.5% | Growth Market Reports

PUNE, India, Aug. 3, 2022 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Metaverse Market" by Technology (Mixed Reality, Virtual Reality & Augmented Reality, and Blockchain), Platforms (Mobiles, Desktop/Laptops, and Wearables), Components (Software and Hardware), Applications (Online Shopping, Content Creation, Gaming, Social Media, and Others), End-users (Education, Aerospace & Defense, Media & Entertainment, Real Estate, Healthcare, Engineering, and Others), and Regions: Size, Share, Trends and Opportunity Analysis, 2021-2030, the market was valued at USD 37.9 billion in 2021 and is projected to reach USD 659.7 billion by the end of 2030, expanding at a CAGR of 37.5% during the forecast period, 2022-2030. The global metaverse market growth is owing to the high penetration of the Internet of Things (IoT) and the rising demand for advanced technology for real-life gaming experiences.

Key Market Players Profiled in the Report

• Tencent Holdings Ltd
• Epic Games, Inc.
• Nvidia Corporation
• Unity Technologies, Inc.
• Meta Platforms, Inc.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

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This report also includes a complete analysis of industry players that covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.

Highlights on the Segments of the Metaverse Market

On the basis of technology, the global metaverse market is segmented into mixed reality, virtual reality & augmented reality, and blockchain. The virtual reality & augmented reality segment is projected to expand at a considerable CAGR during the forecast period due to the increasing use of metaverse in the gaming industry. In the gaming industry, AR and VR technology are used to make games realistic and deliver an optimal gaming experience.