Report ID: SQMIG45D2039
Report ID:
SQMIG45D2039 |
Region:
Global |
Published Date: August, 2024
Pages:
157
|
Tables:
153 |
Figures:
77
Metaverse Market size was valued at USD 86.31 Billion in 2023 and is poised to grow from USD 120.56 Billion in 2024 to USD 1122.04 Billion by 2032, growing at a CAGR of 39.68% during the forecast period (2025-2032).
Metaverse is a terminology that describes the 3D virtual world experience, which is immensely engaging and can be accomplished through the incorporation of technologies such as AR, VR, and MR. The metaverse platforms improves the internet by developing a virtual world where users can easily take part in immersive gaming and conduct businesses. Companies are also utilizing metaverse for socializing, purchasing, and selling real estate and indulging in immersive entertainment. The global market is experiencing massive advancement owing to the rise in demand for work from home and remote work instruments during the COVID-19 pandemic and post COVID. It is also estimated that a positive trend towards decentralized network technology will also offer massive opportunities for market development. Furthermore, many gaming companies and digital technology businesses are also emphasizing offering particular metaverse for the consumers by investing in them. More factors which are increasing the growth of the market revenue are the rise in the number of participants and the advancement conducted in metaverse (XR) technologies.
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Report ID: SQMIG45D2039