expertise, problem solving ability and inclination. Additionally, a crucial factor that points to a promising future for VR technology in gaming is the rising comfort levels of customers in situational uses, such as VR calls and VR gaming. Their impact ranges from greater convenience and efficiency (remote maintenance, for example) to the life-changing and disruptive (enhanced surgical assistance and in-home health care). This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030 For this study, Grand View Research has segmented the global metaverse market report based on product, platform, technology, application, end-use, and region: Product Outlook (Revenue, USD Million, 2017 - 2030), Platform Outlook (Revenue, USD Million, 2017 - 2030), Technology Outlook (Revenue, USD Million, 2017 - 2030), Virtual Reality (VR) & Augmented Reality (AR), Application Outlook (Revenue, USD Million, 2017 - 2030), End-use Outlook (Revenue, USD Million, 2017 - 2030), Regional Outlook (Revenue, USD Million, 2017 - 2030). The Metaverse market may reach $783.3 billion in 2024 vs. $478.7 billion in 2020 representing a compound annual growth rate of 13.1%, based on our analysis and Newzoo, IDC, PWC, Statista and Two Circles data. Set a broad vision. The Metaverse market may reach $783.3 billion in 2024 vs. $478.7 billion in 2020 representing a compound annual growth rate of 13.1%, based on our analysis and Newzoo, IDC, PWC, Statista and. (See Exhibit 3.). The growth of the market depends on serval factors, including increasing demand for AR and VR technology, growing smartphone penetration and use of 5G, and the rise of blockchain as a service. How the Metaverse Will Remake Your Strategy, Technology, Media, and Telecommunications, The always-on connectivity of the metaverse's component systems makes it persistently available, which, in turn, is making it a. The metaverse is a perpetual and persistent multiuser environment that combines physical reality with digital virtuality. The metaverse is a fast-growing trend with a considerable penetration rate of users for various applications such as gaming, content creation, social interaction, learning and training, and online virtual shopping. The year 2021 was successful for investments in Metaverse technology due to the billion dollars spent on Metaverse. The video games industry is transforming, driven by themes like 5G, AR, VR, esports, cloud gaming, and the metaverse. Leaders face an uncertain landscape. They should assess the metaverse assets and capabilities that they have, how their current value propositions will evolve, and how they can defend their current position and monetize metaverse assets going forward. The Metaverse Market is expected to register a CAGR of 41.6 % throughout the forecast period (2022 - 2027). The global metaverse market size is predicted to attain USD 678.8 billion by 2030. Companies looking to play need to first understand how their strategy and sustainable advantage may have to change as the competition develops. Another factor anticipated to boost the regional market's revenue growth is the rising number of start-ups concentrating on creating metaverse platforms for commercialization in the region. It might have been touted as the year of the metaverse within the marketing industry, but we feel we are just getting started in 2023 and beyond." Hironaga Yai, senior strategy director, MediaMonks Tokyo, believes the metaverse is a platform that has, and will, evolve gradually as technology advances. The metaverse is a term used to describe a highly immersive 3D virtual world experience obtained through the use of a mixture of technologies such as AR, VR, and MR. Let's dive into the metaverse market analysis. Based on platform, the desktop segment accounted for the largest revenue share of 42.14% in 2022. On a massive virtual screen, users may surf the web, view movies on Netflix, and even play games. With the help of this grant, scholars from seven different nations in Europe will research how metaverse technologies will affect privacy, safety, inclusiveness, and the nature of the future of employment. The ability to bring live events such as concerts, film showings and sports into 3D virtual worlds represent additional opportunities for game makers as they elevate online experiences into 3D social worlds to capitalize on the Metaverse opportunity. Americans are progressively accessing and experiencing the metaverse as realistically possible through VR, MR, AR, and other new technologies. From COVID-19 to social inequity, this business strategy podcast series looks around business and social trends and ideas that will disrupt the future. A provider of machine learning, artificial intelligence, big data analytics, and AR/VR solutions, NewGenApps predicts that by 2025, there will be 216 million people worldwide playing VR and AR games, with a market value of USD 11.6 billion. For Instance, Nvidia Corporation announced partnerships with Blender and Adobe that will enable NVIDIA Omniverse, the world's first collaboration, and simulation platform, to reach millions more users. Based on end-use, the BFSI industry is estimated to account for leading revenue of 24.4% in 2022. Report 5: Video Games - Thematic Research. Meta created the smartphone app to go along with its spark AR Studio Software Development Kit (SDK). Do you want to check out a section wise price list? Virtual platforms such as Minecraft, Roblox, the Sandbox, HyperVerse, and Fortnite Creative Mode are currently popular. Deloitte China launches the report of The Metaverse Overview: Vision, Technology, and Tactics to discuss the development vision of the Metaverse, analyze current stage of Metaverse technologies and cases, build the framework of the Metaverse industry, and explore how companies should respond to Metaverse opportunity. We are happy to help. No matter their starting point, BCG can help. Your payment is successful. Create a digital-twin strategy. But B2B applications are catching up fast and may ultimately be where much of the business value is generated. If employees experience the metaverse firsthand, they will be more likely to accelerate change. // Biab Extensions With Tips, Coffee Machines Europe, Articles M