Metaverse Insider’s report analyzes growth of different metaverse sectors, their penetration rates, and the key drivers of this fast-emerging industry.
The global metaverse market is forecasted to hit 5.79 trillion by 2030, growing at a CAGR of 45%, according to the research conducted by Metaverse Insider.
TORONTO, ONTARIO, CANADA, November 18, 2022 /EINPresswire.com/ — The global metaverse market is forecasted to hit 5.79 trillion by 2030, growing at a CAGR of 45%, according to the research conducted by the Metaverse Insider team.
The concept of the Metaverse has been around since Neal Stephenson’s novel Snow Crash was released in 1992 and incorporates concepts and technologies that have been in development for decades. Today, the term Metaverse comprises of various emerging technologies such as Mixed Reality, 5G, and blockchain. The commercial interest in the Metaverse has grown rapidly over recent years, with many significant tech companies such as Meta (formerly Facebook), Microsoft and Nvidia investing heavily in this emerging technology.
The current suite of metaverse market size assessments use relatively opaque and unclear methodologies. Metaverse Insider has already published a guide on how the Metaverse Market Size can be calculated. Metaverse Insider’s methodology of a bottom-up assessment using commercial markets, triangulated against a top-down assessment which looks at the digital economy as a share of the total economy, and metaverse within that, resulted in the assessment of 5.8 trillion market size in 2030. Metaverse Insider released an explanatory article which explains our methodology in more detail.
The current metaverse market was estimated to be 161 billion in 2021, and is forecast to grow at a CAGR of 45% to 2030 driven by increasing penetration of metaverse gaming experiences, significant growth in ecommerce and demand for VR / AR hardware, and more use cases for digital assets.
As tech giants and VC-backed start-ups look to invest in the Metaverse Ecosystem, Metaverse Insider identified a lack of quality market information for these companies to study. The Metaverse Insider team looked to address this by using a mixture of open-source data, expert calls, and surveys to provide a full assessment of the Metaverse market.
While the Metaverse is a new concept, the report has identified that there is already a significant amount of interest in the current addressable markets within the Metaverse Ecosystem. Reach out to the Metaverse Insider team at firstname.lastname@example.org to purchase the Metaverse market sizing report.
About Metaverse Insider
The Metaverse Insider is the leading provider of news and information on the metaverse industry, providing incisive coverage of the rapidly evolving metaverse market. This includes technologies such as virtual reality (VR), augmented reality (AR), and innovations in web3, which have the potential to disrupt existing industries and create new market opportunities.
Check out Metaverse Insider’s Q3 Market Report.
Wazarat Ali Hussain
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Article originally published on www.einpresswire.com as Metaverse Market Size Expected to Hit 5.8 Trillion by 2030