Study Id132822 Metaverse Market Report

DIGITAL & TRENDS
Metaverse –
Market Data Analysis
& Forecast
2023
Agenda
Market Outlook Metaverse Workplace 166

Overview 4
Metaverse company profiles 18 Appendix
Market size 24 Product overview 174
Key market indicators 29 Author 181
Segments
Metaverse Education 39
Metaverse Live Entertainment 56
Metaverse Advertising 70
Metaverse Digital Media 77
Metaverse AR & VR Hardware 91
Metaverse Virtual Assets 106
Metaverse Health and Fitness 120
Metaverse Gaming 134
Metaverse eCommerce 149
2
CHAPTER 1
Market Outlook
The Metaverse market is a fast-growing market reaching a market size of
US$484.8 billion
Overview: Summary
Summary
The concept and adoption of the metaverse are still in their early stages, however, targeting of experiences to individual users, the use of virtual currencies, the
the market has vast potential as the metaverse could revolutionize future emergence of new business models, the potential for live streaming, e-commerce
interactions. Current trends of the metaverse include the creation of multi-user and other forms of online transactions, and the key role of innovation and
virtual environments where users can interact with each other and digital objects experimentation in shaping the future of the metaverse. Additionally, the
in real-time, the use of virtual and augmented reality technology to create advancements in hardware such as VR and AR headsets, controllers, and haptic
immersive and engaging experiences, the development of social and gaming feedback devices will play a big role in the growth of the metaverse.
experiences, the use of virtual currencies, the use of data and analytics to
The future market development of the metaverse is expected to experience
personalize and target experiences to individual users, the potential for live
significant growth, with a CAGR(1) of 34.98% and reaching a total market size of
streaming, e-commerce and other forms of online transactions and the key role
$485.8 billion by 2030. As described the market has a lot of potentials, such as
of innovation and experimentation in shaping the future of the metaverse. It's
increased social interaction and connection, enhanced immersive experiences in
important to note that the metaverse is still in its early stages of development and
gaming and other virtual environments, new opportunities for education, training,
the trends are constantly evolving.
and remote work, and economic growth through the creation of virtual goods and
Future growth factors of the metaverse include advancements in technology such services. Nevertheless, it also bears some risks, such as privacy and security
as virtual and augmented reality, artificial intelligence, blockchain, 5G and Edge concerns, addiction and negative impact on mental health, economic inequality,
computing, increasing adoption of metaverse platforms, growing popularity of lack of access for some individuals, and the potential for the further blurring of
social media, gaming, and other activities in virtual worlds, personalization and the line between virtual and real life.
4 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year
Sources: Statista Advertising & Media Insights 2023

Metaverse market consists out of segments, such as Gaming, eCommerce or
Health and Fitness
Overview: Market Definition
Market definition
In scope Out of scope
The term metaverse refers to a virtual world or collection of virtual worlds that
exist in a shared digital space and can be accessed by users through the internet. It The market includes: The market excludes:
typically includes virtual reality, augmented reality, and other immersive
• Open-world games with social • Non-related open-world games,
technologies. The Metaverse is a term that encompasses a wide range of
interaction, such as Fortnite such as World of Warcraft
possibilities, but some of the most common segments are eCommerce and
gaming. Additionally, the metaverse could also bring new opportunities for • Ecommerce marketplaces, such as • Physical goods, service and products
education, entertainment, health and fitness, and even remote work. NIKELAND in Roblox bought with cryptocurrencies, such as
Fashion
The metaverse market consists out of 10 different segments, such as eCommerce, • Virtual Assets used to buy goods in
Gaming, or Education. E-commerce covers all goods that are distributed through the metaverse, such as Ethereum • Non-fungible Tokens bought as
personal collectable, such as non-
the metaverse and can be bought in the metaverse, for instance in virtual stores.
• Education in form of online classes metaverse selection on OpenSea
Gaming encompasses all games that are either directly involved in classified or certificates in the metaverse, such
metaverse apps or collaborative open-world games. Education covers the range of as Decentraland University
possibilities consumers have to experience courses, classes, field trips, and more in
the metaverse. For a more detailed explanation of all the segments, see the
respective segment page.

The Metaverse market is projected to grow at a CAGR(1) of 36.71%
Overview: Key Takeaways
Key Takeaways
Revenue in the metaverse market is projected to reach US$54.95bn in 2023.
Revenue is expected to show an annual growth rate (CAGR 2023-2030) of 36.71%,

resulting in a projected market volume of US$490.40bn by 2030.
With a projected market volume of US$17.48bn in 2023, most revenue is generated

in the United States.
In the metaverse market, the number of users is expected to amount to 1,458.1m

users by 2030.
User penetration will be 6.0% in 2023 and is expected to hit 17.9% by 2030.
The average revenue per user (ARPU) is expected to amount to US$120.20.

Following the era of mobile and cloud technology, the metaverse could mark a
new phase of computing
Overview: eras of computing
The 4 major eras of computing
IBM launched its first mainframe in Introduced in 1975, the personal Wireless communication enabled The Metaverse could be the fourth
1952, a computer system that computer has inspired new new and easier ways of data era of computing by transforming
revolutionized the IT industry, industries, new companies, and transfer, and cloud technologies physical interactions into virtual
allowing customers to consolidate turned their founders into paved ways to more decentralized worlds while increasing learning
all of their data and applications into millionaires and billionaires storage and computing methods and improving
a single system technologies
Mainframes Personal Mobile and Metaverse

Computing Cloud
... ...
1950s – 1970s 1970s – present mid 2000s - present 2020s – ?

The minimum viable Metaverse is the result brought about by the convergence
of emerging digital trends across different sectors
Overview: Metaverse explained
What is the metaverse? Trends shaping the minimum viable Metaverse
The Metaverse is a term used to

Virtual world and spatial
describe a combination of the VR(1) and software gains popularity
MR(2) worlds, accessed through a
browser, mobile device, or headset, and
allows people to have real-time
interactions and experiences. Democratization of
eCommerce Rise of popular authentic,
The minimum viable Metaverse is a exclusive, and fan-focused
social media
result of the combination of four
converging spheres of work:
Minimum viable Metaverse
• virtual worlds and spatial software
going mainstream
• the democratization of eCommerce(3)

Adoption of remote
• authentic social media productivity,
decentralized and
• adoption of blockchain & remote distributed
productivity technologies technologies
8 Notes: (1)VR: Virtual Reality (2) MR: Mixed Reality (3) Anyone with a credit card and a business idea may create an online store employing low-cost suppliers from around the world
Sources: Tencent's Dreams; Geffen; Forbes; Kurani

The integration of in-game social activities is paving a new path for the future of
the gaming industry
Overview: video games engagement
Video games are creating virtual shared spaces to Examples of human interactions in virtual worlds Motivation among gamers to start a new game
facilitate social interactions Music TV & Video
Good reviews 39%

Banking Music
The Gathering tech Black Mirror: Bandersnatch Friends play 31%

conference hosted its first live introduced an interactive
concert in Minecraft in 2016 fiction game episode in 2018 Latest release
In-game 22%
Dating of a series
Social
Favorite streamer
20%
plays
eSports Lifestyle
digital engagement Favorite studio 14%
Shopping Messaging
Kids play 12%

The annual eSports world Age of Wushu introduced in-
Learning competition, the International game marriages in 2021 Parents/siblings

eSports 8%
Dota 2 Championships, plays
started in 2011
9 Notes: (1) What motivates you to start a new game? (multi-pick); 1.035 U.S. adults (18-64 y/o) surveyed Aug 2022. Usage refers to past 12 months
Sources: Company information; Activate Consulting; Statista Global Consumer survey, as of November 2022
Rapid advancements in the gaming sector are driving the future of the total
immersive gaming experience
Overview: change of the gaming industry
Changing landscape of the gaming industry
Cloud Gaming
Technology enablers for next level gaming

Drivers influencing the future of gaming
Immersive Gaming Experience

eSports Virtual Reality
(VR(1))
Augmented
Mobile Gaming Video games transport the player
into an alternate virtual world
Reality (AR(2))
where techniques are used to make
them feel like the character they're
playing.
Social
Interactions
Drivers Enablers
10 Notes: (1) VR: Virtual Reality; (2) AR: Augmented Reality

New technologies will enhance the gaming experience and will lay down the
foundation for new gaming concepts and other applications
Overview: AR, VR and MR in gaming
Extended reality use case overview
Virtual Reality (VR) Augmented Reality (AR) Mixed Reality (MR)
Real world with digital information

Completely digital environment Real and the virtual are intertwined
overlay
• Works with a headset device connected to a PC • Smartphones and glasses are predominantly used • Virtual objects are integrated into the natural world
to combine real-world surroundings with digital and viewed through special glasses
• Virtual reality places the user in a completely digital
information
environment • Objects can be responsive and interactive
• The real world remains at the center of AR, but
• This results in a fully enclosed environment and a • Mixed reality interacts with the environment and
digital components enhance the experience
synthetic experience with no sense of the real world alters it at the same time
Gaming
VR enables a greater gaming experience by By enhancing games with AR technology, they Similar features as AR in gaming, overall, it will
having games more realistic and interactive become more complex and immersive path new ways of gaming and beyond
11
Sources: Statista Advertising & Media Insights 2023; aniwaa

The AR & VR market is still emerging and expected to grow further, and Apple
will boost consumers’ demands with new AR glasses in 2023
Overview: AR & VR market size development
Global AR & VR revenue development in billion US$(1)
60 US$52.05bn
50 Planned release
Microsoft of Apple’s AR AR
40 HoloLens glasses
Pandemic
caused a huge
30
5G was demand in AR
deployed & VR
20 Google Facebook PlayStation
VR VR
launches AR acquired
10 glasses Oculus
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
Development Trough Expansion & Recovery

VR Software VR Hardware VR Advertising AR Software AR Hardware AR Advertising
12 Notes: (1) Market data from 2012 to 2016 are only estimates, 2017 to 2027 are based on Statista Advertising & Media Insights
Sources: Statista Advertising & Media Insights 2023; Deloitte

AR & VR is a fundamental pillar for the future of gaming, especially in the
metaverse
Overview: AR & VR as part of the metaverse
The essentials of gaming in the metaverse
AR & VR Use of real-time data
technology allows for helps to create a realistic

motion-controlled gameplay gaming environment
Collectible items 3D worlds
are items with real-world provide gamers with interactive

value, such as Bitcoin and immersive gameplay
The Metaverse is a persistent and immersive simulated world in The Metaverse paves ways not
Immersive AR & VR which consumers can immerse themselves using AR or VR, and it only for gaming but also for
media technology is experienced in the first person by large groups of simultaneous eCommerce, virtual assets,
users who share a strong sense of a shared community education, etc.
13
Sources: Norton
Currently, the presence of the metaverse dominates in gaming-based virtual
worlds where creator-made content allows for monetization
Overview: Metaverse users
MAU(1) of selected virtual worlds in millions Roblox Four quadrants of virtual world economies
Externalized
250,1
“Mashup Ecosystems” “Sandboxes”
202,0
171,8 Roblox is a platform-like multiplayer game that hosts a

variety of user-made experiences. Creators can earn
royalties for sales of items they create. MUDs(2)
18,0
Closed Open
Fortnite
0,5
0,2
Have been
developed as
0,2
metaverse Fortnite is a 100-player battle royale online game
prototypes “Theme Parks” “Walled Gardens”
featuring developer-made as well as creator-made
0,1 Internalized
environments.
14 Notes (1) MAU: Monthly Active Users; (2) MUDs: Multi-User Dungeon, Dimension or Multi-User Domain; Closed vs. open economies: in an open economy, other creators can contribute to the world’s ecosystem, while in closed
economies, only the original creator can; Externalized vs. internalized economies: in externalized economies, economic activity is possible beyond the platform’s confines
Sources: Company information; ActivePlayer; Jon Radoff
The Metaverse is built on seven foundational layers that are powered by
emerging trends and technologies working across these layers
Overview: structure of the metaverse (1/2)
Seven layers and technologies within the metaverse

Experience
Experience
Gaming Shopping
Discovery
The Metaverse presents a plethora of three-dimensional
visuals and two-dimensional experiences that we are
currently unable to experience. eSports
Social Curation
Ad Networks
Creator Economy Social
Discovery Creator Economy Spatial Computing

Ranking Commerce Design tools Stores
Inbound (research on the Number of web/content Spatial computing refers to
Spatial Computing
web) and outbound creators increase rapidly technology that combines Workflow
(ads/marketing) discovery with the advancement of VR(1) and AR (2). Virtual Geospatial
systems continue to exist in web applications that do not Reality Mapping
the metaverse ecology. require technical skills.
Decentralization Assets
Blockchain A.I agent

Decentralize Human Interface Infrastructure
Human Interface
Products built leverage the In this layer, users receive This layer includes
Mobile Wearables
online scalable ecosystem information about their technologies that enable 5G
powered by microservices, surroundings, use maps, devices, keep them
distributed computing, and and have shared AR(2) connected, and deliver Infrastructure
blockchain networks. experiences. content.
15 Notes: (1) VR: Virtual Reality (2) AR: Augmented Reality
Sources: Jon Radoff ; Company information

The Metaverse is projected to become the user-friendly interface that powers
the decentralized Web 3.0 ecosystem
Overview: structure of the metaverse (2/2)
The stages of evolution of the Web Metaverse as new operating system for Web 3.0
Web 3.0 connects

people in community- Web 3.0 will be built on the foundation of
decentralized networks and applications using
owned virtual world blockchain technology, coupled with machine
learning and artificial intelligence (AI) that would help
Web 2.0 connected build more intelligent and adaptive ecosystems
people in online
communities Decentral web Elements of the metaverse Elements of Web 3.0
Web 1.0 connected

people online Mobile/Social
AR/Metaverse
Media The Metaverse
as new OS can provide a
user interface
Identity Social Immersive that integrates Blockchain/ Artificial
interactions experience complex web
Desktop Browser
decentralized Intelligence
3.0 elements
Streaming Creator networks
Media Economy
Banner Ads Adoption
Digital Twin Economy MR(1)

1990 2000 2010 2020 2030 Cryptocurrencies NFTs(2) DeFi(3)
16 Notes: (1) MR: Mixed Reality (2) NFTs: Non-Fungible Tokens (3) DeFi : Decentralized Finance
Sources: Coin IX; XBTO; Activate analysis; Greyscale

Nearly all big tech players are working on being more vertically integrated into
the metaverse supply chain to gain long-term competitive advantages
Overview: Metaverse supply chain
Metaverse supply chain overview Selected big tech players and their stakes in the metaverse’s supply chain
Data
Closed ecosystem Marketplace
Advertising
Portable machine
Consumers
Digital (raw data) Data layer
Items
Data Ownership
Hardware Fees Speech
(Meta Hardware/ Apple recognition
Oculus HoloLens TenVR Pico
Exported Quest 2) Access Glasses / Google
Digital ID Glasses
Operating Data
Global Reality layer Tokenization Develop- Tool Google Game
OS/ Tech ARKit Game
Digital Operating ment and Software Daydream Engine
Platform framework Engine
Ownership System Presence Operating Android (Restart
(Engine) iOS (Unreal)
Platform System OS the World)
Apps Gaming,
Application Gaming
Market- Social Gaming, Gaming,
Develop- (Activision Gaming
place (Horizon Video Social
Application ? Blizzard, (START),
ment Worlds), (Youtube (Reboot
layer Minecraft), Social
Fitness, VR) World)
ecosystem Workplace
Workplace
Appli-
cations NFTs Blockchain
ownership Ownership
tokenized
ecosystem layer Data ownership
Portability
Open ecosystem
17
Sources: Deloitte; Company information; Gennaro Cuofano

Big tech and gaming players will expand their competencies across several
elements of the metaverse
Company profiles (1/4)
Selected key players presence in Metaverse ecosystem
Immersive Mixed Reality Mixed Reality Social Creation & Virtual

Key player Identity Digital Twins
experiences VR AR Interaction Agency Ownership
View in IoT NFT appli-
your room Microsoft Roku
TwinMaker cations
Glasses ? iMessage Reality Memoji AT&T Comcast Verizon T-MobileNFT Trading

ARKit Composer Cards ?
VR VR
Project Starline Chrome AvatarsDisney NBC Viacom
Supply Chain CBS Netflix
Google Earth VR Twin and Pulse
NFT Sharing on
2 Spark 3D Avatars Instagram/
Pro
Facebook
NFTs
Mesh Mesh HP Reverb G2 Mesh Mesh Mesh Avatars Digital Twins Windows 11
Guardian
Creation
Super QQ Testing NFT
Show USAA AARP AAA Profiles
NFT Games via

Creative Epic Games
Avatars
Google Facebook Amazon Store
18
Sources: Activate Consulting; Company information

Meta‘s strategy to dominate the metaverse focuses on immersive social worlds
and the purchase of as many VR hardware and software companies as possible
Meta‘s Metaverse strategy overview
Gaming Hardware Advertising

Meta acquired a lot of gaming startups Meta has turned to partnerships and Meta is attracting brands to its
to build out its metaverse content. acquisitions for AR/VR hardware as its metaverse platforms by partnering
• Investment in the metaverse so far with AR advertising startups and
internal hardware teams struggle with
US$36b building immersive experiences.
challenges such as chip manufacturing
• Meta is taking its social media and BCIs.
platforms and extending them into the
VR space. AR virtual try-on or branded
filters have been incorporated into
Instagram and Facebook.
Acquisitions
• Meta is the leading company in VR
with 15 million Oculus VR headsets
sold since 2020. Meta is pushing VR
experiences in the form of games and
virtual worlds such as their flagship
metaverse app Horizon Worlds.
• Horizon worlds has drawn criticism for
its quality and lack of users Partnerships
• Other building blocks of the
metaverse vision include Horizon
Home, the virtual living room, and
Horizon Workrooms
19 Notes: Meta has also partnerships established in terms of VR Live Events with ESL, Fox Sports, melody VR, NBA and Tidal and in terms of VR for work with Dropbox, Microsoft, Slack, smartsheet, Spatial, Spike and Zoom
Sources: Company information; CBinsights

Meta’s huge bet on the metaverse is shown in their Reality Labs program, which
is estimated to cost as much as the Apollo Space Program
Selected multi-year spending programs compared to Meta‘s Metaverse bet in billion US$
250 253
40
32
23 25
4
Apple Iphone Manhattan Project Tesla Boeing Google "Other Bets" Meta Reality Labs Apollo Programm
(R&D spend 2004-2007) (Atomic Bomb) (capital burn before (787 Dreamliner (last 10 years) (~US$25bn per (1960-1973)
FCF profitability) Program) year / 10 years)(1)
20 Notes: (1) Reality Labs is Meta‘s XR division (extended reality). Meta has only been sharing its Reality Labs revenue and operating cost figures since Q4 2020.
Sources: Bloomberg; Company information

Apple does not seek to build its own Metaverse, but with its strategy to improve
AR technology, it may become Meta’s biggest rival
Apple‘s metaverse strategy overview
AR & VR
So far Apple invested in smaller companies with AR & VR background to increase
their patent portfolio, setting the foundation for its future AR products.
• Apple started experimenting with AR & VR applications over a
decade ago, as shown by its patent activity. In 2017, Apple
launched its ARKit framework, which enabled developers to build Camerai
AR applications (so far used by 14,000 apps with over 13 million
total downloads).
• It appears that Apple is planning the launch of AR glasses and/or Acquisitions
a mixed reality headset in 2023. Moreover, they are working on a
finger-mounted input system for iPhones alongside new sensors
for iPhone Pros.
• Unlike Meta, Apple has not been clear about its Metaverse
ambitions, but its continued investment in AR & VR companies
points to more immersive digital environments and hardware
•
that may be released soon.
Mark Zuckerberg stated that Apple and Meta are in a “very deep,
?
philosophical competition” to build the metaverse, competing to Partnerships
determine “what direction the internet should go in.” Since the
introduction of Apple’s App Tracking Transparency (ATT) in 2021,
the company’s rivalry with Meta has escalated.
21
Sources: Company information; Cbinsights; The Verge

A diverse ecosystem of companies is involved in and could benefit from
developments in the metaverse
Metaverse ecosystem
Metaverse ecosystem overview
Games & Virtual Spaces Digital Property & NFTs
Developers & Publishers Crypto & Payments

Metaverse
Ecosystem
Media eCommerce
Communication & Computing Social & Messaging

AR & VR
22 Notes: Not exhaustive
Sources: Activate Consulting

The question of whether the metaverse can shape new ways for consumers to
perceive real and virtual worlds is wide open at the moment
Metaverse use cases
Metaverse selected use cases summarized
The Metaverse could The Metaverse could The Metaverse The Metaverse could The Metaverse could
replace physical offices, enhance education as economy could become help planning replace in-person
e.g., Horizon students have more as important as the infrastructure/traffic physical interaction to
Workrooms which is possibilities to learn, real-world economy, solutions in cities to an extent, e.g.,
part of Horizon Worlds e.g., surgeons can e.g., Bitcoin’s average reduce commuting experience concerts or
practice virtually trading volume is time, e.g., using digital gaming
US$24.73 bn. twins
23
Sources: finbold
The global Metaverse revenue is expected to grow at a CAGR(1) of 34.98% to
US$485.8 billion by 2030
Market size: revenues (1/2)
Global revenue forecast in billion US$
490.4
401.1
+34.91%(1) 301.9
212.3
145.2
100.3
72.1
44.7 55.0
2022 2023 2024 2025 2026 2027 2028 2029 2030

Europe shows the biggest growth in the metaverse market with a CAGR(1) of
36.6%
Market size: revenues (2/2)
Total revenue forecast in billion US$
+35.3%(1)
159.20 +36.6%(1) +37.3%(1)
120.22 123.45
+30.4%(1)
87.57
14.15 9.94 9.75 10.50
2022 2030 2022 2030 2022 2030 2022 2030

U.S. Europe ROW(2) China
Revenue 2022 Revenue 2030
25 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year (2) ROW : Rest of the World

Assuming a 35% shift of the digital economy to the metaverse, will result in a
total addressable market(1) of US$4.4 trillion in 2030
Market size: scenario analysis(2)
Global total addressable(1) market in trillion US$
4.4
4.5 4.3
+36.90%(3) 4.0
4.0
3.5
3.5 3.1 3.2
2.9
3.0 2.6
2.5
2.5
1.9 1.9 1.9
2.0 1.7 1.7
1.5
1.5 1.2 1.2
0.9
1.0 0.5 0.7 0.7
0.4 0.4
0.5
0.2
0.0
2023 2024 2025 2026 2027 2028 2029 2030
Optimistic Scenario Moderate Scenario Conservative Scenario
26 Notes: (1) The Total Addressable Market refers to the revenue opportunity available for products or services (2) We assume a digital economy of US$12.8 trillion and for the conservative scenario we assume a 15% shift to the
metaverse, for the moderate scenario we assume at 25% shift and for the optimistic scenario we assume a 35% shift (3) CAGR: Compound Annual Growth Rate / average growth rate per year
The global Metaverse user number is expected to grow at a CAGR(1) 17.6% to
1.451 billion in 2030
Market size: users (1/2)
Global user forecast in million US$
1,451.3
1,309.4
1,129.9
17.6%(1)
939.0
768.6
632.3
529.8
455.5
397.5
2022 2023 2024 2025 2026 2027 2028 2029 2030

The Europe shows the biggest growth in Metaverse users with a CAGR(1) of
19.1%
Market size: users (2/2)
Total user forecast in million
+19.1%(1)
624.7
+15.2%(1)
472.6
+19.1%(1)
234.3
154.4 152.4 +17.6%(1)
119.7
58.0 32.7
2022 2030 2022 2030 2022 2030 2022 2030

ROW(2) China Europe U.S.
User 2022 User 2030
28 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year (2) ROW : Rest of the World

Several key market indicators are responsible for a growing digital infrastructure
Key market indicators: digital infrastructure overview
Internet Users Connection Speed
64.1% of global population using the internet on a monthly 23.57 Mbits/s is the global average internet connection speed.
basis. Increasing internet penetration builds the base for using As connection speeds improves, services such as high-quality
digital media. videos and 3D simulation become available.
AR & VR Penetration Digital Video Games Penetration
28.8% of the global population are using AR & VR hardware or 34.4% of the global population are gamers, either on mobile
technology. games, online games, or download games.
29

Internet penetration is especially high in some European countries and the U.S.,
but China is behind
Key market indicators: internet penetration
Internet penetration in 2021
92% 91%
88%
84% 82%
Ø 81%
74% 72% Europe
Ø 64.1%
Global
UK U.S. Germany France Spain Italy China
30

From a global perspective, broadband subscriptions and connection speed are
continuously increasing
Key market indicators: mobile broadband subscriptions and average connection speed
Global mobile broadband subscriptions and average connection speed
112.9 116.1
109.4
105.4
101.0
96.2
90.9
85.0
78.5
71.5
63.6
48.1
43.7
39.5
35.3
31.3
27.4
23.7
20.3
14.4 17.2
11.9
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
Mobile broadband subscription per 100 capita Avg connection speed
31

Over 60% of the American population are using AR & VR
Key market indicators: AR & VR penetration
AR & VR Penetration in 2022
61%
56%
52% 51% Ø 51%
50%
45% Global
41%
U.S. UK Spain China France Italy Germany
32

58% of the population in the UK are playing digital video games
Key market indicators: Digital Video Games Penetration
Digital Video Games Penetration in 2022
58%
51%
49%
45% Ø 45%
40% Global
38%
36%
UK U.S. China France Italy Spain Germany
33

Consumer behavior and socioeconomic indicators play an important role for the
digital media market
Key market indicators: socioeconomic and consumer electronics overview
Population Consumer Spending
Number of individuals (all ages) is 7,542 million. The number of Average consumer spending per capita of private households
individuals living in a country is a key indicator for the market was US$ 6,753. Knowing the expenditure per capita gives
size. necessary insights into price developments and the average
willingness to pay.
Demographics Smartphone Penetration
Share of older people in the population increases, as well as a 64% of the global population is using smartphones in 2021.
change within the share of male and female towards more
females in the population.
34

China has by far the largest population, accounting for more than 19% of the
total population
Key market indicators: population (1/2)
Population in million in 2021
1,444
333
84 68 65 60 47
China U.S. Germany UK France Italy Spain
35

Although more boys than girls are born, the sex-ratio changes over time since
women live longer
Key market indicators: population (2/2)
Share of age groups by gender of the total population in 2021

0.0% 100+ 0.0%
0.0% 95-99 0.0%
0.1% 90-94 0.1%
0.2% 85-89 0.3%
0.4% 80-84 0.6%
0.7% 75-79 0.9%
1.1% 70-74 1.3%
1.7% 65-69 1.8%
2.0% 60-64 2.1%
2.5% 55-59 2.5%
2.9% 50-54 2.9%
3.1% 45-49 3.1%
3.2% 40-44 3.1%
3.5% 35-39 3.4%
4.0% 30-34 3.8%
3.9% 25-29 3.7%
4.0% 20-24 3.7%
4.1% 15-19 3.8%
4.3% 10-14 4.0%
4.4% 5-9 4.1%
4.5% 0-4 4.2%
Male Female
36

Per-head consumption expenditure in the U.S. is about 10 times higher than in
China
Key market indicators: consumer spending
Consumer spending per capita in US$ in 2021
41,336
24,481
21,651
20,240
18,733
17,133
Ø 13,563
Europe
4,296 Ø 6,753
Global
U.S. UK Germany France Italy Spain China
37

Over 70% of the Chinese population own a smartphone
Key market indicators: smartphone penetration
Smartphone penetration in 2021
92% 91%
87%
83%
80%
Ø 78%
72% 72%
Europe
Ø 64%
Global
UK U.S. Germany Spain France China Italy
38

Agenda

Overview 4
Segments
39
CHAPTER 2
Segments
SEGMENTS
Metaverse Education
Market size
User numbers
Average revenue per user
Penetration rate
The Metaverse Education segment is a fast-growing market with a CAGR(1) of
40.3%
Overview: Summary
Summary
One major trend in the education segment of the metaverse market is the In terms of forecast, the education segment of the metaverse market is expected
increasing adoption of virtual and augmented reality technology in formal to continue to experience strong growth in the coming years. The increasing
education. This is being driven by the need to adapt to the changing education adoption of virtual and augmented reality technology in formal education and
landscape, as well as the desire to create more interactive and personalized professional education is expected to drive the growth of this segment.
learning experiences. Another trend is the increasing use of virtual and Additionally, the growing demand for more interactive and personalized learning
augmented reality technology in professional education, as more and more experiences is expected to drive this market's growth. However, the cost of virtual
companies are recognizing the benefits of providing training and development and augmented reality devices, and the lack of standardization in virtual and
programs for their employees in a virtual environment. augmented reality content creation and distribution might hinder the growth of
the market.
The effect on the numbers is that the education segment of the metaverse
market is expected to experience significant growth in the coming years.
According to market research, the global virtual and augmented reality in
education market size is expected to reach $24 billion by 2030, with a CAGR(1) of
40.29% from 2022 to 2030. This growth is driven by factors such as the increasing
adoption of virtual and augmented reality technology in formal education and the
growing demand for professional education in a virtual environment.

Metaverse Education is an important part of the metaverse Market
Market definition
The education segment of the metaverse market refers to the use of virtual and
augmented reality technology in education and training. This includes both formal This segment includes: This segment excludes:
education, such as primary, secondary, and higher education, as well as
• Virtual field trips, such as Google • Online classes or courses, such as
professional education, such as training programs for working professionals.
Expeditions Udemy
Professional education refers to training and development programs for working
professionals, such as executive education, certification programs, and continuing • Virtual lab simulations, such as • Online univeristy, such as watching
education. These programs are typically designed to help professionals acquire Nearpod lectures online
new skills, stay current with industry trends, and advance their careers. They can be
• Virtual tutoring and online classes in
delivered in a variety of formats, including online courses, virtual classrooms, and the metaverse, such as Classcraft
immersive simulations. Formal education, on the other hand, refers to the
traditional classroom-based education system, including primary, secondary, and
higher education. In the metaverse, formal education can take place in virtual
classrooms, where students can interact with teachers and classmates in real time,
as well as access course materials, assignments, and assessments. Additionally,
virtual and augmented reality can be used to create immersive learning
experiences that can supplement or replace traditional classroom-based
instruction.
43

Metaverse Education accounted for 3.63% of the metaverse market revenue in
2022
Key Takeaways
Revenue in the metaverse Education segment is projected to reach US$1.90bn in

2023.

With a projected market volume of US$757.60m in 2023, most revenue is generated

In the metaverse Education segment, the number of users is expected to amount

to 74.0m users by 2030.

The education industry can benefit from each aspect of the metaverse
Overview: Metaverse Education
Augmentation
Augmented Reality Lifelogging

Interface
AR can enable the viewing of 3D models and & By focusing on data from one’s daily life and
facilitates the understanding and application Network thoughts with productive results, lifelogging
of concepts more so than texts alone. can help personalize the virtual classroom
space to enable the learner to be successful.
Sensors Identity
External
Intimate
& &
Every- Inter-
ware action
Mirror World Virtual World
A mirror world can help to break down Models Engaging in training activities such as
physical barriers to learning and education. & firefighting or pilot training in the real world
Immer-
By using an online video conferencing tool can be risky. The virtual world can be a
sion
one can show a depiction of real-world suitable medium to train by mimicking the
online classroom mirrors. conditions of real-life situations.
Simulation
45

Metaverse Education revenue is estimated to increase at a CAGR(1) of 40.3%
from 2022 to 2030
Market Size: Global
Revenue forecast in million US$
24,001.2
21,933.5
+40.3% (1) 15,913.8
9,516.2
5,627.9
3,555.9
1,900.7 2,470.2
1,601.0
2022 2023 2024 2025 2026 2027 2028 2029 2030

Europe shows the biggest growth in Metaverse Education revenue with a
CAGR(1) of 41.4%
Market Size: Regional Comparison (1/2)
+38.4%(1)
8,335.3 +41.4%(1) +41.7%(1)
6,283.8 6,473.4
+40.6%(1)
2,908.5
190.5 618.2 393.9 398.4
2022 2030 2022 2030 2022 2030 2022 2030

China U.S. Europe ROW(2)
47 Notes: (1) CAGR: Compound Annual Growth Rate / average growth rate per year (2) ROW: Rest of the World

With revenue of 79.6 million US$, Japan is the biggest market among selected
countries, in 2022
+41.0%(1)
+41.1%(1)
1,239.8 +41.3%(1)
1,056.1 +41.3%(1)
940.6
729.7 +41.4%(1)
409.3
79.6 67.2 59.3 46.0 25.6
2022 2030 2022 2030 2022 2030 2022 2030 2022 2030
Japan Germany United Kingdom France South Korea

Metaverse Education average revenue per user is estimated to increase from
2022 to 2030
Market Size: Global
Average revenue per user forecast in US$

357.2
342.0
296.6
240.3
194.1
159.7
135.4
119.1
108.8
2022 2023 2024 2025 2026 2027 2028 2029 2030

The United States has the biggest market in Metaverse Education average
revenue per user in 2022
1,306.8
1,251.8
1,090.4
888.8
720.7
594.7
504.3 457.0 477.8
442.3 392.5
401.6
310.5
244.5 214.4 224.2
167.8 198.2 184.0
138.7 149.3 114.2 145.3
64.9 69.7 78.3 92.5

152.7 177.9 186.0
95.0 120.7
53.9 58.0 65.1 76.9
2022 2023 2024 2025 2026 2027 2028 2029 2030

United States Europe China ROW(2)

With average revenue per user of 433.2 US$, the United Kingdom is the biggest
market among selected countries, in 2022

1,493.2
1,428.2
1,226.8
1,066.6
1,020.3
970.7
877.2
764.6 751.3
695.4 718.8
619.6 618.5
548.8 560.2 585.7
524.6 491.3
466.5 445.2 481.1
433.2
376.8 388.4 380.7 351.3
310.3 334.6 315.4 336.0
266.9 299.8 288.3
219.2 236.8 242.9 227.7
205.7 145.0 179.0
169.9 182.9
101.7 109.3 122.8
2022 2023 2024 2025 2026 2027 2028 2029 2030

United Kingdom Germany Japan France South Korea

Metaverse Education reach are estimated to increase from 2022 to 2030
Market Size: Global
Reach forecast in millions
67.2
64.1
53.7
39.6
29.0
22.3
18.2
14.7 16.0
2022 2023 2024 2025 2026 2027 2028 2029 2030

China has the biggest market in Metaverse Education reach in 2022

34.1
32.5
27.2
20.0
14.6
12.9 13.6
11.1 10.8
9.1 12.6 13.2
7.4 8.0 7.9 10.5
5.8
4.4 7.7 6.1 6.4
2.9 3.2 3.6 5.2
5.6 4.0
3.5 4.3 3.1
2.8 3.1
1.7 2.0 2.4
1.5
2022 2023 2024 2025 2026 2027 2028 2029 2030
ROW(2) China Europe United States

With reach of 0.4 million, Japan is the biggest market among selected countries,
in 2022

1.7
1.6
1.3
1.2
1.2
1.2
1.0 1.0 1.1
0.9 1.0
0.9
0.7 0.7
0.8
0.6 0.5 0.7
0.5 0.6 0.6 0.6
0.4 0.4 0.5
0.4 0.3 0.5
0.3 0.3 0.4 0.4
0.3 0.3 0.3 0.4
0.3 0.3
0.2 0.3
0.2 0.2
0.1 0.1 0.2
2022 2023 2024 2025 2026 2027 2028 2029 2030

Japan France South Korea Germany United Kingdom

Penetration rate for Metaverse Education is especially high in Switzerland but
also in Singapore
Penetration Rate: Worldwide Comparison
Metaverse Education penetration rate per country in 2030
1. Switzerland 3.16%
2. Singapore 3.06%
3. Denmark 3.03%
4. Norway 3.02%
5. Denmark 3.01%
low high no data
55

SEGMENTS
Metaverse Live Entertainment
Market size
User numbers
Penetration rate
The Metaverse Live Entertainment segment is a relatively small segment of the
metaverse market
Overview: Summary
Summary
Current trends for live entertainment in the metaverse include virtual concerts pandemic situation has accelerated the adoption of virtual events and
and music festivals, virtual theater and live performances, virtual reality experiences, as people are looking for ways to attend events and socialize
experiences, interactive and gamified experiences, virtual reality social events, the remotely. All these factors are contributing to the growth of live entertainment in
use of blockchain technology, and hybrid events. These trends may involve the the metaverse.
use of virtual reality technology to create immersive and interactive experiences
According to our forecast, live entertainment in the metaverse is expected to have
for users, and the use of blockchain technology to create and manage virtual
a CAGR(1) of 8.47% and reach a market size of 458 million by 2030, as a result of
assets such as virtual concert tickets and virtual merchandise. Additionally, live
the current trends and further adoption in the future.
events are also being held both in-person and in the metaverse, allowing users to
attend events either in person or virtually, depending on their preference.
The growth of live entertainment in the metaverse is driven by several factors

such as the increasing adoption of virtual reality and other immersive
technologies, the desire for more interactive and engaging entertainment
experiences, the desire for more accessible and inclusive entertainment
experiences, the growth of the metaverse as a whole, and the growing interest in
blockchain technology for virtual assets management. Additionally, the current

Metaverse Live Entertainment consists mainly out of music live events in the
metaverse
Market definition
The Live Entertainment segment of the metaverse market refers to the use of
virtual and augmented reality technology to create immersive experiences for live This segment includes: This segment excludes:
events and performances. This includes virtual concerts, theater productions, and
• Virtual concerts, such as Travis Scott • Live concerts streamed, such as
comedy shows. These events can be attended by users in the metaverse, who can
in the metaverse streaming on Twitch or Youtube
interact with each other and the performers in real time.
• Virtual festivals, such as the • Sport events streamed, such as
The market comprises revenues, users, average revenue per user, and penetration
metaverse Festival Football
rates. Revenues are generated through in-app purchases and consumer spending.
• Virtual art galleries, such as VR
Key players in the market include companies, such as live events in Fortnite with
Museum of Fine Art
acts from Marshmello or Travis Scott.
58

Metaverse Live Entertainment accounted for 0.54% of the metaverse market
revenue in 2022
Key Takeaways
Revenue in the metaverse Live Entertainment segment is projected to reach

US$0.24bn in 2023.


In the metaverse Live Entertainment segment, the number of users is expected to

amount to 3.2m users by 2030.

Metaverse Live Entertainment revenue is estimated to increase at a CAGR(1) of
8.5% from 2022 to 2030
Market Size: Global
457.8
442.8
+8.5% (1) 410.7
360.1
308.1
272.0
243.0 252.4
238.6
2022 2023 2024 2025 2026 2027 2028 2029 2030

Europe shows the biggest growth in Metaverse Live Entertainment revenue with
a CAGR(1) of 8.5%
+8.4%(1)
159.0
+8.5%(1) +8.8%(1)
119.9 123.4
83.5
+7.9%(1) 62.2 62.8
55.5
30.1
2022 2030 2022 2030 2022 2030 2022 2030


countries, in 2022
+10.7%(1)
+10.1%(1)
23.7 +12.0%(1)
20.2 +12.5%(1)
17.9
13.9 +9.1%(1)
10.5
9.3
7.2 7.8
5.4
3.9
2022 2030 2022 2030 2022 2030 2022 2030 2022 2030

Metaverse Live Entertainment average revenue per user is estimated to
increase from 2022 to 2030
Market Size: Global

140.7 143.0
135.6
127.4
118.4
111.6
104.3 105.4 107.5
2022 2023 2024 2025 2026 2027 2028 2029 2030

The United States has the biggest market in Metaverse Live Entertainment
average revenue per user in 2022
540.8 549.7
521.6
491.0
457.3
431.1
401.6 406.2 415.0
180.0 186.9 190.0

156.2 168.7
138.2 139.3 141.8 147.0
79.2 84.6 87.8 89.3

64.9 65.4 66.5 68.9 73.3
60.9 65.8 70.2 72.9 74.1
53.9 54.3 55.3 57.3
2022 2023 2024 2025 2026 2027 2028 2029 2030


585.8 595.6
564.3
528.8
489.8
460.8
433.2 436.7 444.5
419.5 426.5
404.1
378.8
351.0
318.5 330.2
310.3 312.9 301.2
285.4 296.3
267.6
233.4 248.1
219.2 221.0 225.1 221.3 229.7 233.6
207.4
180.7 192.1
169.9 171.3 174.3
132.4 137.5 139.8
114.9 124.1
101.7 102.5 104.3 108.1
2022 2023 2024 2025 2026 2027 2028 2029 2030


Metaverse Live Entertainment reach are estimated to increase from 2022 to
2030
Market Size: Global
3.1 3.2
3.0
2.8
2.6
2.4
2.3 2.3 2.3
2022 2023 2024 2025 2026 2027 2028 2029 2030

China has the biggest market in Metaverse Live Entertainment reach in 2022

1.6 1.6
1.5
1.4
1.3
1.2
1.2 1.2 1.2
0.6 0.6 0.6

0.6
0.5 0.5 0.6 0.6
0.5 0.5 0.5 0.6
0.6
0.5 0.5
0.5 0.5 0.5
0.3 0.3 0.3 0.3
0.2 0.2 0.2 0.2 0.2
2022 2023 2024 2025 2026 2027 2028 2029 2030


in 2022

0.1 0.1
0.1
0.1
0.1
0.1 0.1 0.1
0.1 0.1 0.1 0.1
0.1
0.1 0.1
0.0 0.1
0.0 0.0 0.0
0.0 0.0 0.0 0.0
0.0 0.0
0.0 0.0 0.0
0.0 0.0 0.0
0.0 0.0 0.0 0.0
0.0 0.0 0.0
0.0
0.0 0.0
0.0 0.0 0.0
2022 2023 2024 2025 2026 2027 2028 2029 2030


Penetration rate for Metaverse Live Entertainment is especially high in
Switzerland but also in Singapore
Metaverse Live Entertainment penetration rate per country in 2030
2. Singapore 0.134%
3. Sweden 0.133%
4. Norway 0.132%
5. Denmark 0.131%
low high no data
69

SEGMENTS
Metaverse Advertising
Market size
User numbers
Penetration rate
The Metaverse Advertising segment is shaped by new technologies and
improving adoption of the metaverse
Overview: Summary
Summary
The metaverse, a virtual shared space where users can interact with each other The market development for advertising in the metaverse is expected to grow at a
and digital objects in real time, is a relatively new concept and as such, advertising CAGR(1) of 13.94%, driven by the increasing adoption of virtual and augmented
trends within it are still emerging. However, some potential trends include the use reality technology and the growing popularity of gaming and social media in
of virtual and augmented reality, the use of 3D and animated characters, the virtual worlds. The market will have a market size of $3.9 bn by 2030.
creation of virtual brand experiences, and the use of data and analytics to
personalize advertising to individual users. Additionally, native advertising, where
the ad experience is integrated into the overall experience of the metaverse,
rather than being distinct from it, is also likely to become more prevalent.
Factors that could contribute to the growth of advertising in the metaverse

include the increasing adoption of virtual and augmented reality technology, the
growing popularity of gaming and social media in virtual worlds, and the
increasing ability to personalize and target advertising to individual users.
Additionally, as more businesses and industries begin to explore the potential
uses of the metaverse, the demand for advertising within these virtual spaces is
likely to increase.

Metaverse Advertising includes in-game and in-video advertising for metaverse
applications
Market definition
The Advertising segment of the metaverse market refers to the practice of
promoting and selling products or services within virtual reality environments, such This segment includes: This segment excludes:
as in video games, social VR platforms, or other immersive digital spaces. This can
• In-game advertising, such as in • In-game advertising, that are not
include in-game or in-app ads, branded virtual experiences, and sponsored content
Roblox considered as part of the metaverse,
within the metaverse. such as World of Warcraft
• In-video advertising, such as in
The market comprises revenues, that are generated through ad spending.
Virtual Reality videos
72

Metaverse Advertising accounted for 3.12% of the metaverse market revenue in
2022
Key Takeaways
Revenue in the metaverse Advertising segment is projected to reach US$1.53bn in

2023.


73

Metaverse Advertising revenue is estimated to increase at a CAGR(1) of 13.9%
from 2022 to 2030
Market Size: Global
3,905.2
3,743.1
3,347.8
+13.9% (1)
2,640.0
1,968.7
1,581.4
1,374.8 1,390.6 1,436.0
2022 2023 2024 2025 2026 2027 2028 2029 2030

The United States shows the biggest growth in Metaverse Advertising revenue
with a CAGR(1) of 13.9%
+13.9%(1)
1,356.1 +13.9%(1) +14.2%(1)
1,022.5 1,053.3
+13.3%(1)
473.3 477.4
359.9 363.2
174.2
2022 2030 2022 2030 2022 2030 2022 2030


countries, in 2022
+13.9%(1)
+13.9%(1)
201.7 +13.9%(1)
171.8 +13.9%(1)
153.1
118.7 +13.9%(1)
71.0 66.6
60.5 53.9
41.8
23.4
2022 2030 2022 2030 2022 2030 2022 2030 2022 2030

SEGMENTS
Metaverse Digital Media
Market size
User numbers
Penetration rate
The Metaverse Digital Media segment is a grows at a CAGR(1) of 11.66%
Overview: Summary
Summary
Digital media in the metaverse is bringing a lot of potential to the market as it is The market development for digital media in the metaverse is expected to grow at
one pillar of the overall consumer experience. 3D content and digital experiences a CAGR(1) of 11.66% and reach a market size of $1.27 billion by 2030, driven by
with AR and VR will be key for creating immersive and engaging digital advancements in technology, increasing adoption of virtual and augmented
experiences in the metaverse. The use of 3D technology will allow for the creation reality, the growing popularity of gaming and social media in virtual worlds,
of realistic and detailed digital environments and characters, which can be used in personalization and targeting of digital media to individual users, live streaming
a wide range of applications, such as gaming, social media, and advertising. and e-commerce opportunities, and the innovation and experimentation in the
field.
The growth of digital media in the metaverse is driven by advancements in
technology such as virtual and augmented reality, 3D modeling, and animation
which allows for the creation of more immersive and engaging digital
experiences. The growing popularity of gaming and social media in virtual worlds,
the increase in adoption of metaverse platforms, personalization and targeting of
digital media to individual users, and the potential of live streaming and e-
commerce in the metaverse are also key growth factors. Innovation and
experimentation will also play a key role in the growth of digital media in the
metaverse.

Metaverse Digital Media benefits from enhancing technology
Market definition
The Digital Media segment of the metaverse market refers to the use of digital
technology to create, distribute, and consume content within virtual reality This segment includes: This segment excludes:
environments. This can include video, audio, text, images, and interactive
• Virtual escape rooms, such as • Games considered as metaverse,
experiences that are accessible through a wide range of devices, including VR
Escape the Lost Pyramid such as Fornite
headsets, smartphones, and computers.
• Virtual sport events, such as The • Digital music streaming or video
Metaverse Open streaming, such as Spotify or Netflix
rates. Revenues are generated through in-app purchases and consumer spending.
Data on the digital media market can also be found in the Digital Market Insights. • Virtual amusement parks, such as
The Sandbox's LAND
• Technology used to enhance virtual

experience, adding sounds and
graphics to games and worlds
79

Metaverse Digital Media accounted for 1.19% of the metaverse market revenue
in 2022
Key Takeaways
Revenue in the metaverse Digital Media segment is projected to reach US$0.54bn in

2023.


In the metaverse Digital Media segment, the number of users is expected to

80

Metaverse Digital Media revenue is estimated to increase at a CAGR(1) of 11.7%
from 2022 to 2030
Market Size: Global
1,270.8
1,220.7
1,106.8
+11.7% (1)
913.1
730.2
611.5
526.3 536.0 557.4
2022 2023 2024 2025 2026 2027 2028 2029 2030

The United States shows the biggest growth in Metaverse Digital Media revenue
+11.7%(1)
441.3
+11.7%(1) +11.9%(1)
332.7 342.8
+11.0%(1) 182.8
154.0 137.8 139.0
66.7
2022 2030 2022 2030 2022 2030 2022 2030


countries, in 2022
+11.6%(1)
+11.7%(1)
65.5 +11.6%(1)
55.9
+11.7%(1)
49.8
38.6 +11.6%(1)
27.2
23.2 20.6 21.7
16.0
9.0
2022 2030 2022 2030 2022 2030 2022 2030 2022 2030

Metaverse Digital Media average revenue per user is estimated to increase from
2022 to 2030
Market Size: Global

155.7 158.8
148.5
135.4
122.5
112.6
104.0 105.2 107.4
2022 2023 2024 2025 2026 2027 2028 2029 2030

The United States has the biggest market in Metaverse Digital Media average
601.8 613.8
574.4
523.5
475.8
437.7
407.3 416.9
401.6
197.0 206.7 210.9

179.8
147.9 161.1
138.2 139.1 141.6
84.5 92.5 97.1 99.0
64.9 65.3 66.4 69.3 75.5
70.1 76.8 80.6 82.3
53.9 54.3 55.2 57.7 62.8
2022 2023 2024 2025 2026 2027 2028 2029 2030

United States(2) China
Europe ROW

648.1 661.2
617.6
563.8
505.1
463.8 464.3 473.6
433.2 436.2 443.9 442.4
403.9
362.2
332.5 328.0 334.6
310.3 312.5 318.2 312.6
285.3
256.1 254.2 259.3
224.9 235.2 242.2
219.2 220.8 221.1
181.9 198.1
169.9 171.0 174.1
144.9 152.1 155.2
118.4 132.3
101.7 102.3 104.1 108.7
2022 2023 2024 2025 2026 2027 2028 2029 2030


Metaverse Digital Media reach are estimated to increase from 2022 to 2030
Market Size: Global
7.8 8.0
7.5
6.7
6.0
5.4
5.1 5.1 5.2
2022 2023 2024 2025 2026 2027 2028 2029 2030

China has the biggest market in Metaverse Digital Media reach in 2022

4.0 4.1
3.8
3.4
3.0
2.8
2.6 2.6 2.6
1.6 1.6
1.5
1.4
1.2 1.5 1.6
1.0 1.0 1.1 1.1 1.5
1.3
1.2
1.0 1.0 1.0 1.1 0.7 0.7
0.6 0.7
0.5 0.5 0.5 0.5 0.5
2022 2023 2024 2025 2026 2027 2028 2029 2030


in 2022
0.2 0.2
0.2
0.2
0.1 0.1 0.1
0.1
0.1
0.1 0.1 0.1 0.1 0.1 0.1
0.1
0.1
0.1 0.1 0.1 0.1
0.1 0.1 0.1 0.1
0.1 0.1
0.1 0.1
0.1 0.1 0.1 0.1 0.1
0.1 0.1
0.1 0.1 0.1 0.1
0.1
0.0 0.0 0.0 0.1
2022 2023 2024 2025 2026 2027 2028 2029 2030


Penetration rate for Metaverse Digital Media is especially high in Switzerland but
also in Singapore
Metaverse Digital Media penetration rate per country in 2030
2. Singapore 0.334%
3. Sweden 0.331%
4. Norway 0.330%
5. Denmark 0.329%
low high no data
90

SEGMENTS
Metaverse AR & VR Hardware
Market size
User numbers
Penetration rate
The Metaverse AR & VR Hardware segment is predicted to have a market size of
$3.19 billion by 2030
Overview: Summary
Summary
Current trends in AR and VR hardware in the metaverse include the use of head- platforms, the growing popularity of gaming and social media in virtual worlds,
mounted displays for immersive virtual and augmented reality experiences, hand- increasing investment, the need for multi-modal input methods and smart
held controllers for natural interaction with digital objects, 5G and Edge glasses and the need for comfortable and lightweight equipment.
Computing to support high-bandwidth and low-latency requirements, lightweight
and comfortable equipment, multi-modal input methods such as voice and
gesture recognition, and smart glasses that blend AR with the real world.
The growth of AR and VR hardware in the metaverse is driven by advancements in

technology, increasing adoption of metaverse platforms, the growing popularity
of gaming and social media in virtual worlds, increasing investment, the need for
multi-modal input methods and smart glasses, and the need for comfortable and
lightweight equipment.
The market development for AR and VR hardware in the metaverse is expected to

grow at a CAGR(1) of 17.71% and reach a market size of $3.19 billion by 2030,
driven by advancements in technology, increasing adoption of metaverse

Metaverse AR & VR Hardware is an important part of the metaverse Market
Market definition
The AR (augmented reality) and VR (virtual reality) hardware segment of the
metaverse market refers to the physical devices used to access and interact with This segment includes: This segment excludes:
virtual reality environments, including both augmented and virtual worlds. In our
• Augmented Reality Glasses used for • Augmented Reality Glasses used for
case, it refers to AR and VR headsets or glasses.
metaverse experience, such as non metaverse experience, such as
The AR & VR Hardware segment consists of two subsegments: AR Hardware and VR HoloLens HoloLens
Hardware. AR Hardware refers to headsets or glasses used to create augmented
• Virutal Reality headsets used for • Virutal Reality headsets used for
reality inferences between the real and virtual worlds. VR Hardware mainly refers metaverse experience, such as non metaverse experience, such as
to headsets that aim to create a virtual world for consumers. The market comprises Oculus Quest Oculus Quest
revenues, users, average revenue per user, and penetration rates. Revenues are
• Non-electronic devices, such as
generated through consumer spending on hardware such as headsets or glasses.
mobile phone equipment
Data shows both online and offline revenues. Market numbers for VR headsets are
also featured in the Consumer Market Insights, namely in the Gaming Equipment
segment of the Consumer Electronics market. Or the AR & VR Hardware segment in
the Advertising & Media Insights. Key players in the market include companies such
as Meta (Oculus VR), Microsoft (HoloLens), and PlayStation VR.
93

Metaverse AR & VR Hardware accounted for 1.96% of the metaverse market
revenue in 2022
Key Takeaways
Revenue in the metaverse AR & VR Hardware segment is projected to reach

US$1.17bn in 2023.


In the metaverse AR & VR Hardware segment, the number of users is expected to

94

Metaverse AR & VR Hardwis revenue is estimated to increase at a CAGR(1) of
17.7% from 2022 to 2030
Market Size: Global
3,191.8
2,934.6
+17.7% (1) 2,677.5
2,418.7
2,171.6
1,905.9
1,548.1
1,174.4
865.9
2022 2023 2024 2025 2026 2027 2028 2029 2030

The United States shows the biggest growth in Metaverse AR & VR Hardware
revenue with a CAGR(1) of 18.1%
+18.1%(1) +17.0%(1)
854.8 833.1 +18.4%(1)
+17.4%(1)
748.1 755.8
206.7 225.4 237.8

195.9
2022 2030 2022 2030 2022 2030 2022 2030


countries, in 2022
+17.4%(1)
+16.4%(1)
177.0 +17.0%(1) +16.8%(1)
161.4
128.8 125.0 +17.4%(1)
86.2
49.1 47.7
36.7 36.0
23.9
2022 2030 2022 2030 2022 2030 2022 2030 2022 2030

Metaverse AR & VR Hardwis average revenue per user is estimated to increase
from 2022 to 2030
Market Size: Global
134.3 137.9
130.2
126.6
121.2
116.9
109.4 111.8
107.6
2022 2023 2024 2025 2026 2027 2028 2029 2030

China has the biggest market in Metaverse AR & VR Hardware average revenue
per user in 2022
137.5 140.5
131.2 133.9
126.3 137.2
123.2 133.2
119.8 118.5 120.4 128.6 143.2
124.6 140.0
118.8 133.0 136.4
113.4 114.2 128.1 130.6
107.4 109.5 123.9 126.5
122.0
117.4 117.9
109.4 112.1
106.8 107.2
98.9 101.4
96.8
2022 2023 2024 2025 2026 2027 2028 2029 2030

China Europe United States ROW(2)

With average revenue per user of 118.3 US$, France is the biggest market
among selected countries, in 2022

141.7
136.8
126.5 131.4 141.8
137.9
137.6
124.3 133.5
132.8
118.3 119.7 129.6
128.6 144.3
118.1 111.7 118.6 119.5 139.9
112.3 108.0 113.2 114.9 114.1 124.0 122.5 130.3
135.0 144.6
116.0 119.2 138.8
111.1 103.0 110.9 108.9 117.7 132.5
126.5
100.9 101.5 104.7 112.0
2022 2023 2024 2025 2026 2027 2028 2029 2030

France United Kingdom Germany South Korea Japan

Metaverse AR & VR Hardware reach are estimated to increase from 2022 to
2030
Market Size: Global
23.1
21.9
20.6
19.1
17.9
16.3
13.9
10.9
7.9
2022 2023 2024 2025 2026 2027 2028 2029 2030

The United States has the biggest market in Metaverse AR & VR Hardware reach
in 2022

6.1
5.8
5.5 6.0
5.6 5.7
5.1 5.4
4.8 5.1 5.2
4.4 5.4
4.8 4.8 5.1
4.5 4.5
3.8 4.8
4.1 4.1
4.4
3.5 3.5 4.1
3.0
3.7
2.8 2.8
2.1 3.1
2.0 2.1 2.4
1.7
2022 2023 2024 2025 2026 2027 2028 2029 2030

United States Europe ROW(2) China

in 2022

1.2
1.2
1.1 1.1
1.1
1.0 1.0
1.0
1.0
0.9 0.9 0.9
0.9
0.8 0.8 0.8 0.9
0.8 0.8
0.7 0.7 0.8
0.7 0.7 0.8
0.7
0.6 0.6 0.7
0.5 0.6 0.6 0.6
0.4 0.5 0.5
0.4 0.5
0.4 0.5
0.3 0.4
0.3 0.3
0.2
2022 2023 2024 2025 2026 2027 2028 2029 2030


Penetration rate for Metaverse AR & VR Hardware is especially high in Australia
but also in Iceland
Metaverse AR & VR Hardware penetration rate per country in 2030
1. Australia 2.42%
2. Iceland 2.26%
3. Sweden 1.88%
4. Norway 1.86%
low high no data
104

With over 10 million units sold so far, Meta’s Oculus Quest 2 is dominating the
market and is expected to increase its lead
AR & VR Hardware sold
Top four global companies selling VR headsets
VR product Company Revenue 2021 in Hardware Units sold(1) Platform Price in US$ Market share(2)
US$ revenue in US$
Oculus Quest 2 Meta Platform 117.9bn 5.2bn 10.4m PC 499.99
75%
HTC Vive Pro 2 HTC Corporation 199.5m 2.6bn 3.3m PC 799.99 3%
PlayStation VR Sony 90.4bn 2bn 6.6m PlayStation 299.99

5%
Valve Index Valve Corporation 255m 0.6bn 0.6m PC 999.00

3%
105 Notes: (1) Units sold from 2016 to 2021 (2) Market shares as of 2021 Q1, the four companies cover 85% of the market
Sources: Statista Company DB; Counterpoint, Company information

SEGMENTS
Metaverse Virtual Assets
Market size
User numbers
Penetration rate
The Metaverse Virtual Assets segment is projected to have a market size of $7.7
billion by 2030
Overview: Summary
Summary
Currently, cryptocurrency is being used as a means of payment in virtual worlds transactions and ownership of virtual assets, and the growing interest in virtual
and metaverse platforms, NFTs are being used to create and manage unique ownership and virtual scarcity.
virtual assets, and virtual marketplaces and platforms are emerging to facilitate
These factors lead to the rapid growth of the virtual assets market in the
the buying and selling of NFTs and other virtual assets in the metaverse, new
metaverse, growing at a CAGR(1) of 16.18%, ending up with a market size of $7.7
blockchain-based platforms and protocols are being developed specifically for the
billion by 2030.
metaverse, NFTs are being used to create virtual experiences and virtual worlds,
the use of cryptocurrency and NFTs is leading to the creation of new revenue
streams for creators, artists and game developers in the metaverse and the use
of NFTs is leading to the rise of virtual art marketplaces, where digital art is being
bought and sold as NFTs.
The growth of cryptocurrency and NFTs in the metaverse is driven by several

factors such as the increasing adoption of blockchain technology, the growing
interest in virtual assets and virtual experiences, the growing popularity of virtual
worlds and metaverse platforms, the increasing interest in decentralized finance
and decentralized marketplaces, the desire for more secure and transparent

Metaverse Virtual Assets is a crucial segment of the metaverse Market
Market definition
The virtual assets segment of the metaverse market refers to the buying, selling,
and trading of digital assets within virtual worlds and metaverse platforms. This This segment includes: This segment excludes:
can include a wide range of assets, such as virtual currency or virtual collectibles.
• Cryptocurrencies used to buy goods • Non-related metaverse transactions
The virtual assets segment can be divided into two subsegments: Cryptocurrencies
in the metaverse, such as Ethereum with cryptocurrencies, such as buying
and NFTs. Cryptocurrencies refer to digital or virtual currencies that use physical good with Bitcoin
cryptography for security, are decentralized, and operate independently from a • Non-fungible tokens bought in and
central bank. They can be used as a medium of exchange within virtual worlds and for the metaverse, such as on • Non-related metaverse transactions
OpenSea of Non-fungible tokens, such as
metaverse platforms, enabling users to buy and sell virtual assets, and make buying digital art or collectibles
transactions without the need for a traditional financial intermediary. NFTs, or
non-fungible tokens, are digital assets that represent ownership of a unique item,
such as a virtual collectible, virtual art, or virtual real estate. Unlike
cryptocurrencies, NFTs cannot be replaced by an identical copy, and their
ownership can be verified on a blockchain ledger. NFTs can be used to represent
ownership of virtual assets within virtual worlds and metaverse platforms and can
be bought, sold, and traded just like physical assets. The market comprises
revenues, users, average revenue per user, and penetration rates. Revenues show
transaction values generated through the metaverse using virtual assets.
108

Metaverse Virtual Assets accounted for 5.27% of the metaverse market revenue
in 2022
Key Takeaways
Revenue in the metaverse Virtual Assets segment is projected to reach US$2.45bn

in 2023.


In the metaverse Virtual Assets segment, the number of users is expected to

109

Metaverse Virtual Assets revenue is estimated to increase at a CAGR(1) of 16.2%
from 2022 to 2030
Market Size: Global
7,717.2
7,234.9
6,381.6
+16.2% (1)
5,185.0
4,006.5
3,177.9
2,702.8
2,325.4 2,453.3
2022 2023 2024 2025 2026 2027 2028 2029 2030

China shows the biggest growth in Metaverse Virtual Assets revenue with a
CAGR(1) of 21.4%
+14.8%(1)
+18.0%(1)
2,780.0 +15.9%(1)
2,564.7
2,205.7
922.1
675.2 682.8
+17.7%(1)
45.4 166.8
2022 2030 2022 2030 2022 2030 2022 2030


countries, in 2022
+17.5%(1)
486.2 +14.9%(1) +17.0%(1)
346.3 355.3 +15.2%(1)
243.5 +12.6%(1)
134.1 113.7 112.8

101.3 78.4
43.6
2022 2030 2022 2030 2022 2030 2022 2030 2022 2030

Metaverse Virtual Assets average revenue per user is estimated to increase
from 2022 to 2030
Market Size: Global

216.7
207.4
186.8
155.0
122.4
114.0
99.3
85.5 87.8
2022 2023 2024 2025 2026 2027 2028 2029 2030

The United States has the biggest market in Metaverse Virtual Assets average
822.1
782.0
703.8
591.6
477.7
401.6 392.7
323.4 343.6
270.2 285.0
240.8
197.7
154.1 181.5 199.1
138.2 123.6 155.7
102.9 107.9 128.1
82.8 81.7 100.5
66.7 71.0
92.9 103.3 107.5
53.9 57.8 75.6
39.8 40.3 45.7
2022 2023 2024 2025 2026 2027 2028 2029 2030



1,047.7
987.9
872.1
703.8
654.8
617.8
535.3 550.0 554.9
525.1
455.0 464.7
433.2 419.3
357.8 360.0 374.6 360.6
332.9 340.3
310.3 292.3 302.7
283.9
238.5 254.5 249.6
219.2 221.4 196.4 202.5
169.9 176.6 188.8 171.5 191.0
138.1 158.7 145.2
129.8 119.1
101.7 84.0 89.0 100.0
2022 2023 2024 2025 2026 2027 2028 2029 2030


Metaverse Virtual Assets reach are estimated to increase from 2022 to 2030
Market Size: Global
34.9 35.6
33.4 34.2
32.0 32.7
30.8
28.7
20.4
2022 2023 2024 2025 2026 2027 2028 2029 2030

Europe has the biggest market in Metaverse Virtual Assets reach in 2022
22.8 23.4
22.3
21.7
20.6 21.1
19.6
18.0
12.7
7.3 7.4 7.5 7.6 7.7 7.7

6.9 7.2
4.9
3.0 3.1 3.2 3.2 3.3 3.3 3.3 3.4
2.3
0.5 0.8 0.9 0.9 1.0 1.0 1.0 1.0 1.1
2022 2023 2024 2025 2026 2027 2028 2029 2030

ROW(2) Europe United States China

in 2022
0.9 0.9 0.9 0.9

0.8 0.8
0.8
0.8
0.7 0.7 0.7 0.7 0.7 0.7

0.6 0.6
0.6
0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.6
0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5

0.5
0.4
0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3
0.4
0.2
2022 2023 2024 2025 2026 2027 2028 2029 2030


Penetration rate for Metaverse Virtual Assets is especially high in Switzerland
but also in Singapore
Metaverse Virtual Assets penetration rate per country in 2030
1. Singapore 1.90%
2. Iceland 1.79%
4. Argentina 1.60%
5. Taiwan 1.57%
low high no data
119

SEGMENTS
Metaverse Health and Fitness
Market size
User numbers
Penetration rate
The Metaverse Health and Fitness segment is a fast-growing market with a
CAGR(1) of 32.76%
Overview: Summary
Summary
Trends in the health and fitness segment in the metaverse are characterized by growing interest in decentralized solutions for personal data management.
the use of virtual reality and other immersive technologies to create interactive
Given these factors, the market grows at a considerable CAGR(1) of 32.76%,
and immersive workout experiences, the use of virtual personal training services,
resulting in a total market size of $54.5 billion by 2030. As a result of the rapid
the use of virtual wellness retreats, the use of virtual reality to transport users to
growth and increasing demand, the health and fitness segment is set to be the
different locations and provide them with an immersive workout experience, the
third largest segment of the metaverse market by 2030.
use of gamification to make workout more fun, the use of tracking devices,
sensors, cameras and virtual reality equipment for virtual status tracking, and the
use of blockchain technology to make the tracking more secure and transparent.
Additionally, many virtual fitness classes are emerging that use a variety of
technologies such as a smart mirror, an interactive screen, and digital weights.
The future growth of health and fitness in the metaverse is expected to be driven
by factors such as the growing demand for personalized and convenient workout
experiences, the increasing popularity of virtual worlds and metaverse platforms,
the growing interest in gamification and interactive experiences, the advancement
of tracking devices, sensors, cameras, and virtual reality equipment and the

Metaverse Health and Fitness is shaped by virtual fitness classes and virtual
personal trainings
Market definition
The Health and Fitness segment of the metaverse market refers to the use of
virtual and augmented reality technology to deliver health and fitness services and This segment includes: This segment excludes:
information. This can include a wide range of applications, such as virtual personal
• Virutal fitness classes, such as • Digital fitness devices, such as
training, virtual rehabilitation, virtual therapy, and virtual wellness programs.
Supernatural Smartwatches
• Virtual personal trainings, such as • Over-the-counter pharmaceuticals
rates. Revenues are generated through in-app purchases, and consumer spending
Fitbit Coach sold via the internet, such as in
on items, products, or software. Market numbers for digital health can also be Healthwarehouse
found in the Digital Market Insights. Key players in the market include companies, • Virtual wellness retreats, such as
such as Black Box VR, VirZOOM, and Virtual Bodyworks. Wanderlust Virtual • Health tracking apps, such as Health
on Apple
122

Metaverse Health and Fitness accounted for 12.8% of the metaverse market
revenue in 2022
Key Takeaways
Revenue in the metaverse Health and Fitness segment is projected to reach

US$6.57bn in 2023.

With a projected market volume of US$2,492.00m in 2023, most revenue is

generated in the United States.
In the metaverse Health and Fitness segment, the number of users is expected to
123

Metaverse Health and Fitness revenue is estimated to increase at a CAGR(1) of
32.8% from 2022 to 2030
Market Size: Global
54,466.2
46,602.3
+32.8% (1) 35,752.1
24,858.2
16,574.1
11,312.8
8,266.1
5,642.8 6,571.3
2022 2023 2024 2025 2026 2027 2028 2029 2030

Europe shows the biggest growth in Metaverse Health and Fitness revenue with
a CAGR(1) of 33.7%
+31.6%(1)
18,894.0 +33.7%(1) +34.1%(1)
14,206.5 14,776.6
+31.5%(1)
6,588.9
2,100.5 1,394.1 1,411.1

737.1
2022 2030 2022 2030 2022 2030 2022 2030


countries, in 2022
+33.4%(1)
+33.5%(1)
2,804.0 +33.6%(1)
2,388.2 +33.6%(1)
2,126.8
1,649.8 +33.7%(1)
925.4
280.1 237.0 209.7 162.6 90.7
2022 2030 2022 2030 2022 2030 2022 2030 2022 2030

Metaverse Health and Fitness average revenue per user is estimated to increase
from 2022 to 2030
Market Size: Global

299.2
277.9
246.2
209.8
176.0
148.8
128.9
115.4
106.8
2022 2023 2024 2025 2026 2027 2028 2029 2030

The United States has the biggest market in Metaverse Health and Fitness
average revenue per user in 2022
1,110.3
1,032.5
917.8
786.1
662.9
562.5
487.8
435.8
401.6 401.7
372.1
327.4
275.4
227.4
164.2 190.0 169.0 182.0
138.6 148.0 127.5 149.8
78.1 90.2 106.8
64.7 69.9
146.1 157.7
107.9 128.4
64.0 74.2 89.0
53.9 57.6
2022 2023 2024 2025 2026 2027 2028 2029 2030


1,255.7
1,163.2
1,023.5
897.3
861.1 831.4
711.3 732.0
616.5 632.2
594.4 586.0
513.6 509.9 516.2
433.2 462.8 435.3
426.5 492.5
368.5 360.5 456.2
310.3 331.9 301.8 401.4
234.7 260.8 337.7
219.2 278.9 273.5 295.4
233.1 240.5
181.5 201.4 202.1
169.9 139.2 166.7
101.7 108.5 120.3
2022 2023 2024 2025 2026 2027 2028 2029 2030


Metaverse Health and Fitness reach are estimated to increase from 2022 to
2030
Market Size: Global
182.0
167.7
145.2
118.5
94.2
76.0
64.1
52.8 57.0
2022 2023 2024 2025 2026 2027 2028 2029 2030

China has the biggest market in Metaverse Health and Fitness reach in 2022

91.8
84.5
72.9
59.1
46.6
37.4 37.9
35.0
31.5 30.5
28.1 35.4
26.2 25.2 32.5
20.4 28.1
16.6 22.7
12.4 14.1
11.4 17.9 15.7 17.0
14.4 13.8
10.1 10.8 12.1 11.5
7.7 9.3
5.2 5.7 6.5
2022 2023 2024 2025 2026 2027 2028 2029 2030


in 2022

4.4
4.1
3.5
3.3
3.1
2.9 3.1
2.7 2.9
2.3 2.5
2.2
2.7
1.8 2.5
1.7 2.0
1.5 2.1
1.3 1.4 1.4 1.6
1.2 1.7 1.7
1.0 1.0 1.3 1.6
1.1 1.4 1.3
0.9 1.0
1.1 1.1
0.8 0.9 0.9
0.8 0.7
0.5 0.5 0.6
2022 2023 2024 2025 2026 2027 2028 2029 2030


Penetration rate for Metaverse Health and Fitness is especially high in
Switzerland but also in Singapore
Metaverse Health and Fitness penetration rate per country in 2030
2. Singapore 7.48%
3. Sweden 7.42%
4. Norway 7.38%
5. Denmark 7.35%
low high no data
133

SEGMENTS
Metaverse Gaming
Market size
User numbers
Penetration rate
The Metaverse Gaming segment is the second largest segment of the
metaverse market with $163.4 predicted by 2030
Overview: Summary
Summary
Gaming is a vital part of the metaverse, which primarily attracts a lot of new gaming and the increasing accessibility of high-speed internet also contribute to
users. Current trends in metaverse gaming include multiplayer and social the growth of metaverse gaming.
experiences, the use of virtual reality technology, cross-reality gaming, the
The future of metaverse gaming is expected to experience significant growth, with
gamification of other activities, blockchain-based gaming, and mobile metaverse
a CAGR(1) of 41.88% and reaching a market size of $163.4 billion by 2030. The
gaming. As the metaverse is a new and constantly evolving field, innovation and
success of metaverse games like Fortnite and Roblox, and the rise in mobile
experimentation will also play a key role in shaping the future of metaverse
gaming, and the increasing accessibility of high-speed internet will contribute to
gaming.
this growth.
The growth factors of metaverse gaming include advancements in technology,
increasing adoption of virtual and augmented reality, the growing popularity of
gaming and social media in virtual worlds, personalization and targeting of games
to individual users, live streaming and e-commerce opportunities, and innovation
and experimentation in the field. The success of metaverse games like Fortnite
and Roblox, which have proven to be massively popular, also contributes to the
growth of this market by encouraging other developers and companies to explore
opportunities in the metaverse gaming space. Additionally, The rise in mobile

Metaverse Gaming is an important part of the metaverse Market
Market definition
The Gaming segment of the metaverse market refers to the playing of video games
or other interactive experiences within virtual reality environments, such as virtual This segment includes: This segment excludes:
worlds, social VR platforms, or other immersive digital spaces. This can include
• Games directly in metaverse • Open-world games, with a story line,
traditional single-player and multiplayer games, as well as more open-ended virtual
considered apps, such as games in such as World of Warcraft
worlds where players can interact with each other and the environment in a variety Roblox
of ways. Gaming in the metaverse can be experienced through different hardware • All other non related metaverse
like VR headsets, smartphones, and computers. It can also include new forms of • Open-world games, shaped by games, such as Call of Duty
users, such as Fornite
gaming like social gaming, multiplayer gaming, and location-based gaming. The
• Non-metaverse related browser
metaverse gaming segment contains out of seven subsegments. action games, • Sandbox games, such as Minecraft games, such as Forge of Empires
adventure games, casual games, role-playing games, simulation games, sports &
racing games and strategy games. Each genre has different games published that • Social virtual reality games, such as
VRChat
are classified as metaverse games in respective metaverse applications, or
individual games. The market comprises revenues, users, average revenue per
user, and penetration rates. Revenues are generated through in-app purchases,
and consumer spending on apps, games and items. Market numbers for the
gaming segment, can also be found in the Digital Market Insights. Key players in the
market are games like Fortnite, Roblox or Minecraft.
136

Metaverse Gaming accounted for 22.57% of the metaverse market revenue in
2022
Key Takeaways
Revenue in the metaverse Gaming segment is projected to reach US$13.84bn in

2023.


In the metaverse Gaming segment, the number of users is expected to amount to

433.9m users by 2030.
137

Metaverse Gaming revenue is estimated to increase at a CAGR(1) of 41.9% from
2022 to 2030
Market Size: Global
163,419.7
132,346.8
+41.9% (1)
99,399.5
69,796.6
46,766.9
30,702.3
20,291.2
9,951.2 13,842.8
2022 2023 2024 2025 2026 2027 2028 2029 2030

Europe shows the biggest growth in Metaverse Gaming revenue with a CAGR(1)
of 43.3%
+41.0%(1)
57,726.3 +43.3%(1) +43.6%(1)
42,352.4 43,635.5
+38.6%(1)
19,705.8
1,448.1 3,700.9 2,385.2 2,417.0
2022 2030 2022 2030 2022 2030 2022 2030


countries, in 2022
+42.4%(1)
+42.7%(1)
8,365.3 +43.0%(1)
7,123.0 +43.0%(1)
6,341.7
4,919.4 +43.3%(1)
2,758.8
495.3 414.2 362.3 280.7 154.9
2022 2030 2022 2030 2022 2030 2022 2030 2022 2030

Metaverse Gaming average revenue per user is estimated to increase from
2022 to 2030
Market Size: Global

376.6
340.7
298.2
253.8
212.2
176.1
146.6
123.5
106.2
2022 2023 2024 2025 2026 2027 2028 2029 2030

The United States has the biggest market in Metaverse Gaming average revenue
per user in 2022
1,409.1
1,274.3
1,115.2
950.2
796.0
662.4
552.8
511.2
466.7 462.1
401.6 403.9
342.7
284.9
234.6 217.9
139.3 193.7 174.5 197.9
162.3 149.8
105.8 126.4 198.3
64.4 74.9 88.6 156.6 179.3
110.3 132.8
62.7 74.9 90.8
53.9
2022 2023 2024 2025 2026 2027 2028 2029 2030


1,588.0
1,435.8
1,255.3
1,129.2
1,065.3
1,021.5
885.6 893.7
759.4 791.9
729.5 716.6
602.4 632.2 627.5
504.7 521.5 533.8 623.0
433.2 431.2 445.0 563.3
361.5 367.6 492.5
310.3 304.4 417.9
219.2 255.4 347.4
286.1 339.2 375.3
236.3 296.3
169.9 197.9 251.2
171.5 208.5
118.4 141.5
101.7
2022 2023 2024 2025 2026 2027 2028 2029 2030

Metaverse Gaming reach are estimated to increase from 2022 to 2030
Market Size: Global
433.9
388.4
333.4
275.0
220.4
174.4
138.5
112.1
93.7
2022 2023 2024 2025 2026 2027 2028 2029 2030

China has the biggest market in Metaverse Gaming reach in 2022

215.5
192.6
164.8
135.3
107.7
94.6
84.6 85.1
73.7
66.7 61.7 82.9
53.7 74.0
44.9 50.4 63.3
40.7 51.9
32.8
22.5 26.9 41.3
32.3
20.5 25.5 36.7 41.0
17.1 31.5
21.1 26.1
13.5 16.8
9.2 11.0
2022 2023 2024 2025 2026 2027 2028 2029 2030


in 2022

10.6
9.5
8.1 7.9
7.1
6.7 7.4
6.0 6.6
5.4
5.0 5.6 6.3
4.2 5.6
4.0 4.6
3.3 3.1 4.8
2.7 3.7
2.3 2.5 4.0 4.0
2.0 2.9 3.6
1.7 2.3 3.2 3.1
1.8 2.5 2.5
1.5 2.0 2.0
1.3 1.6 1.6
1.0 1.2
0.8
2022 2023 2024 2025 2026 2027 2028 2029 2030

Penetration rate for Metaverse Gaming is especially high in Switzerland but also
in Singapore
Metaverse Gaming penetration rate per country in 2030
2. Singapore 17.42%
3. Sweden 17.30%
4. Norway 17.20%
5. Denmark 17.13%
low high no data
147

Currently, the presence of the metaverse dominates in gaming-based virtual
worlds where creator-made content allows for monetization
Monthly active users in selective worlds
MAU(1) of selected virtual worlds in millions Roblox Four quadrants of virtual world economies
Externalized
250,1
“Mashup Ecosystems” “Sandboxes”
202,0
171,8 Roblox is a platform-like multiplayer game that hosts a

variety of user-made experiences. Creators can earn
royalties for sales of items they create. MUDs(2)
18,0
Closed Open
Fortnite
0,5
0,2
Have been
developed as
0,2
metaverse Fortnite is a 100-player battle royale online game
prototypes “Theme Parks” “Walled Gardens”
featuring developer-made as well as creator-made
0,1 Internalized
environments.
148 Notes (1) MAU: Monthly Active Users; (2) MUDs: Multi-User Dungeon, Dimension or Multi-User Domain; Closed vs. open economies: in an open economy, other creators can contribute to the world’s ecosystem, while in closed
economies, only the original creator can; Externalized vs. internalized economies: in externalized economies, economic activity is possible beyond the platform’s confines
Sources: Company information; ActivePlayer; Jon Radoff
SEGMENTS
Metaverse eCommerce
Market size
User numbers
Penetration rate
The Metaverse eCommerce segment is the biggest segment in the metaverse
market with a size of $201.76 billion in 2030
Overview: Summary
Summary
The eCommerce segment in the metaverse is a rapidly growing segment, field. The ability to create immersive and interactive virtual shopping experiences,
promising huge growth possibilities in the future. Current trends for eCommerce as well as the increasing demand for digital goods, will also contribute to the
in the metaverse include the creation of virtual storefronts, the use of virtual and growth of eCommerce in the metaverse. The rise in mobile gaming and the
augmented reality technology for product demonstrations, social eCommerce increasing accessibility of high-speed internet also contribute to the growth of
experiences, the use of virtual currencies, personalized and targeted marketing, eCommerce in the metaverse.
and the emergence of virtual marketplaces within the metaverse. Users are keen
The eCommerce metaverse market is expected to experience significant growth
to create and customize their avatars in the virtual worlds, buying different items
in the future, with a CAGR(1) of 34.72% and reaching a market size of $201.76
for their avatars, even as social status symbols, to interact with other users. That
billion by 2030. Additionally, the increasing demand for digital goods will also
is one reason, why user penetration for eCommerce is high, as the largest part of
contribute to this growth, leading to the biggest segment of the metaverse market
the metaverse is used as social interaction between users.
by 2030.
Growth factors for eCommerce in the metaverse include advancements in
technology such as virtual and augmented reality, increasing adoption of
metaverse platforms, the growing popularity of social media and gaming in virtual
worlds, personalization and targeting of eCommerce experiences to individual
users, the use of virtual currencies, and innovation and experimentation in the

Metaverse eCommerce is the key pillar in the metaverse market
Market definition
The eCommerce segment of the metaverse market refers to the buying and selling
of goods and services within virtual reality environments, such as virtual worlds, This segment includes: This segment excludes:
social VR platforms, or other immersive digital spaces. This can include virtual
• Marketplaces in the metaverse, such • Physical items used for the
storefronts, digital marketplaces, and other online shopping experiences that allow
as Decentraland's Marketplace metaverse, such as Oculus Quest
users to purchase real-world products or virtual items using virtual currencies or
real-world money. eCommerce in the metaverse can also include virtual shopping • Items bought for avatars used in the • Purchase of games that are
experiences, where users can explore and interact with virtual stores, try on virtual metaverse, such as Costumes or considered metaverse, such as
Skins Roblox or Sandbox
clothing and accessories, and make purchases through virtual cash or real-world
money. The eCommerce segment consists of six different segments. Beauty, • Fashion for avatars, such as Gucci
Health, Personal & Household Care, Toys, Hobbys, DIY & Media, Furniture, stores
Electronics, Fashion, and Food & Beverages. All of them refer to the specific goods
• Electronics, such as AR and VR
that can be bought in the metaverse. The market comprises revenues, users, hardware
average revenue per user, and penetration rates. Revenues are generated through
in-app purchases, and consumer spending on items, products, and hardware such
as headsets or glasses. Market numbers for eCommerce are also featured in the
Digital Market Insights. Key players in the market include companies, such as IKEA,
Virtual Realms, and Holition.
151

Metaverse eCommerce accounted for 42.18% of the metaverse market revenue
in 2022
Key Takeaways
Revenue in the metaverse eCommerce segment is projected to reach US$22.72bn

in 2023.


in China.
In the metaverse eCommerce segment, the number of users is expected to amount

to 698.3m users by 2030.
152

Metaverse eCommerce revenue is estimated to increase at a CAGR(1) of 34.7%
from 2022 to 2030
Market Size: Global
201,762.1
160,640.4
+34.7% (1)
119,035.6
83,839.4
57,939.1
40,560.5
29,522.7
18,598.2 22,722.0
2022 2023 2024 2025 2026 2027 2028 2029 2030

Europe shows the biggest growth in Metaverse eCommerce revenue with a
CAGR(1) of 38.3%
+37.1%(1)
+27.6%(1) +39.1%(1)
58,066.4 +38.3%(1)
50,006.6 48,669.3
45,019.7
7,102.7 4,657.3 3,363.1 3,475.0
2022 2030 2022 2030 2022 2030 2022 2030


countries, in 2022
+37.4%(1)
+36.3%(1)
12,439.4
10,425.1 +35.0%(1)
+28.8%(1) +34.3%(1)
7,019.8
4,440.1 5,017.1
981.3 873.9 636.2 587.8 473.4
2022 2030 2022 2030 2022 2030 2022 2030 2022 2030
Japan United Kingdom Germany South Korea France

Metaverse eCommerce average revenue per user is estimated to increase from
2022 to 2030
Market Size: Global

288.9
258.5
223.6
188.9
158.4
133.7
115.0
101.7
92.7
2022 2023 2024 2025 2026 2027 2028 2029 2030

The United States has the biggest market in Metaverse eCommerce average
1,292.1
1,154.1
995.0
837.9
699.8
587.9 517.8
464.6
503.0 404.3
442.3 344.1
401.6
290.2
245.9
187.9 212.0
172.2 170.2 189.8
125.5 147.8
76.0 88.8 105.5
60.3 66.7
129.7 146.9 162.1
85.2 97.6 112.8
63.5 68.4 75.5
2022 2023 2024 2025 2026 2027 2028 2029 2030



1,373.3
1,231.7
1,070.7
947.7
909.3
850.9
763.8 740.6 710.4
642.6 630.5 637.5
548.6 531.7 554.8
480.1 450.0 471.8
433.2 512.6
387.0 396.4 460.3
310.3 341.4 333.0
282.9 401.0
219.2 245.6 341.7
288.5
210.6 244.5
169.9 186.3 263.5
208.3 237.6
154.0 179.4
101.7 108.4 118.7 133.7
2022 2023 2024 2025 2026 2027 2028 2029 2030


Metaverse eCommerce reach are estimated to increase from 2022 to 2030
Market Size: Global
698.3
621.4
532.5
443.8
365.8
303.4
256.8
223.5
200.6
2022 2023 2024 2025 2026 2027 2028 2029 2030

China has the biggest market in Metaverse eCommerce reach in 2022

317.9
285.4
248.3 248.5
211.6 219.6
179.5 186.0
153.9 152.2
134.8
121.2 122.2
111.9
98.0
79.7 86.9
76.8
66.6 64.9
57.6 53.0
42.4
27.4 33.8
19.5 22.8
39.6 44.9
27.0 33.2
14.9 17.8 21.8
11.6 12.9
2022 2023 2024 2025 2026 2027 2028 2029 2030
China ROW(2) Europe United States

With reach of 5.8 million, South Korea is the biggest market among selected
countries, in 2022

17.5
15.5 16.9
15.0
13.2
12.9
10.9
8.9 9.8
10.9
7.2 8.7
9.1
6.0 7.4
5.1 7.8 7.6
4.5 6.2
6.8 6.7
6.2 5.0 7.4
5.8 4.2 5.7 6.6
3.5 4.7 5.6
2.8 3.1
3.8
3.1 4.6
2.3 2.6 3.8
2.0 3.1
2.3 2.6
2.1
2022 2023 2024 2025 2026 2027 2028 2029 2030

South Korea Japan France Germany United Kingdom

Penetration rate for Metaverse eCommerce is especially high in South Korea but
also in Mainland China
Metaverse eCommerce penetration rate per country in 2030
1. South Korea 32.82%
2. Mainland China 21.69%
3. Hong Kong 21.62%
4. Qatar 21.01%
5. Norway 17.24%
low high no data
162

Fashion brands are entering the metaverse through established virtual worlds
and introducing their digital collections as NFT(1) assets
eCommerce Fashion in the metaverse (1/3)
Opportunities for fashion brands in the metaverse

Luxury Fashion Brands in the metaverse
The Metaverse opens many opportunities for fashion brands

to widen their audience. The most natural entry point is
providing digital clothing for the user’s avatar. In 2021,
Roblox introduced its users to digital clothing and
accessories by Gucci and Stella McCartney. In March 2022,
Decentraland hosted a Metaverse Fashion Week featuring
more than 60 brands including Estée Lauder, Tommy Hilfiger,
Dolce & Gabbana, and Forever 21.
Fashion brands can opt to sell their digital items as NFTs or

non-fungible tokens. This NFT approach caught the industry’s Popular Fashion Brands in the metaverse
attention in 2021 when RTFKT studios, a purely digital shoe
company, sold out their collection of 600 artistic NFT sneakers
in just 6 minutes, garnering a profit of $3.1 million. By the end
of 2021, Nike had acquired RTFKT studios.
Many fashion companies are starting to use 3D garment

creation software such as Clo3D and Browzwear to
realistically simulate garments and speed up physical
production. It is a natural and practical step to convert these
3D designs into sellable digital clothing.
163 Notes: (1) NFT : Non-Fungible Tokens
Sources: Statista Digital Market Insights 2023, Sensorium, The Metaverse Insider
Digital fashion brands such as Auroboros are gaining traction and catching the
industry’s attention
Though many traditional fashion brands are expanding into the metaverse, a new generation of digital-first
fashion brands such as Auroboros have also appeared. Unconstrained by the limits of physical fabrics, their
collections express new frontiers of creativity and imagination. Co-founder and creative director Alissa Aulbekova
answered a couple of our questions.
Auroboros was one of the digital fashion brands that really caught the media’s attention in 2021. What
made you decide to start a digital-native fashion brand instead of going the more traditional route?
I've been working in digital fashion before there was digital fashion, with 3D scanning and everything else. When
I met our company’s co-founder Paula, we were excited to combine her designs with our digital vision. We're
both fans of video games and we're always looking toward the future, so we've taken it upon ourselves to create
our vision of the future. Digital is also inclusive, whether it is in the gender, size, or shape of the people that wear
our fashion. As you know, AR clothing can adapt to anybody, any of the outfits would fit you perfectly.
How do you see your company influencing fashion in the metaverse?
I think we’ve already influenced the fashion world, both traditional and in the metaverse. As a brand, we have a
very strong identity and recognizable aesthetic. So just as you may recognize a piece of clothing from Chanel or
Balenciaga, you can also recognize our clothes in the digital space. As a luxury fashion house, we have a very
large focus on precision, detail, and craftsmanship, you'll always see something interesting. We also build our
collections very emotively, with a narrative and story that we want to tell. And I think this has brought us great
success already because a lot of people can connect.
What are your upcoming plans for 2023?
We’re launching Auroboros Academy in partnership with top fashion universities like Parsons and Oxford. It’s an
educational-social space hosting a program to provide highly sought-after Web3/Digital expertise and tools for
digital fashion. We are currently in a fundraising phase and open to investors.
164
Sources: Interview with Auroboros

Traditional fashion designers are discovering the creative potential of 3D fashion
and some are even making a complete transition
Anna Liedtke is a fashion designer who worked at Hugo Boss in several traditional roles before
completely switching to 3D fashion. She now works at the Amsterdam-based digital fashion house,
The Fabricant, as Fashion Design Director. We discussed her personal thoughts on digital fashion.
You've worked for a long time in traditional fashion and made the switch to digital fashion
around a year ago. In your experience, what advantages does digital fashion have over
traditional fashion?
For me, as a creative person, I took the chance to explore the opportunities that you have when you
don’t work physically. I was easily able to extend my portfolio with creations I made in my free time. I
started this three years ago. It’s possible to create digital productions and editorial shoots just with
one person. The publishing on social media also helps me to connect and find people to collaborate
with. In general, working with digital software creates a new genre of fashion design, which is fun to
explore and which can bend reality.
What do you think is the best way/strategy for traditional fashion companies to enter into
the metaverse?
There is a new generation of customers who are not necessarily keen on physical products.
Applications and games are already a big market with high revenue content. But companies should
start thinking differently. Giving customers the chance to become part of the revenue stream is a
new way to bond a community. Stop one-directional thinking and build long-term term partnerships
with young people through a “play to earn” system or tokenomics.
Another way is to integrate digital development in production. Digital prototyping is already a
sustainable process that reduces resources. It can support digital showroom set-ups and enables
emotional communication with digital product shoots. Augmented reality integration could attract
customers and reduce the number of returns.
165
Sources: Interview with Anna Liedtke

SEGMENTS
Metaverse Workplace
Market size
User numbers
Penetration rate
The Metaverse Workplace segment is set to raise to $26.9 billion by 2030
Overview: Summary
Summary
The virtual workplaces segment in the metaverse is utilizing virtual reality and management. Additionally, the current pandemic situation has accelerated the
other immersive technologies to create interactive and immersive working adoption of remote and virtual working solutions, all these factors are
environments, as well as a variety of communication and collaboration tools such contributing to the growth of virtual workplaces in the metaverse and providing
as voice and text chat, video conferencing, and instant messaging. Virtual objects, users with more advanced, convenient, and collaborative work experiences.
environments, and the use of virtual reality and augmented reality are also being
According to our forecast, the market development of virtual workplaces in the
utilized to enhance the experience, with virtual status tracking and security and
metaverse is expected to witness tremendous growth with a CAGR(1) of 29.05%,
access controls in place for data security. Additionally, blockchain technology is
reaching a market size of $26.9 billion by 2030.
being considered for the management of virtual assets and data security.
With these current trends, the growth of virtual workplaces in the metaverse is
driven by factors such as the increasing adoption of virtual reality and other
immersive technologies, the growing demand for remote and flexible working
solutions, the increasing popularity of virtual worlds and metaverse platforms, the
growing interest in collaboration and communication tools, the advancement of
virtual objects and environments, the need for virtual status tracking and security
and access controls, and the growing interest in decentralized solutions for data

Metaverse Workplace is shaped by virtual meeting rooms
Market definition
The workplace segment of the metaverse market refers to the use of virtual and
augmented reality technology in the workplace to improve productivity and This segment includes: This segment excludes:
collaboration among employees and to reduce costs associated with physical office
• Virtual workspaces in the • Virtual meetings, such as in Zoom or
space. This can include a wide range of applications, such as virtual meetings,
metaverse, such as VR Meeting Microsoft Teams
virtual training, virtual team building, and virtual co-working spaces. Rooms
• Physical objects and environments,
The market comprises revenues, that are generated through consumer spending,
• Virtual well-being spaces, such as such as furniture and office spaces
or software spending. Meta Horizon Workrooms
• In-person interactions, such as in-
person meetings
168

Metaverse Workplace accounted for 7.93% of the metaverse market revenue in
2022
Key Takeaways
Revenue in the metaverse Workplace segment is projected to reach US$3.97bn in

2023.

With a projected market volume of US$1,300.00m in 2023, most revenue is

generated in the United States.
169

From skills development to team collaboration, the workplace is also being
revolutionized by the potential of the metaverse
Overview: Metaverse Workplace
Companies providing workplace solutions in the metaverse

Hirect conducted a successful job fair in the metaverse. Attendees were able to
HR Hiring and
Onboarding create their own avatars and joined via VR headsets. The advantage for recruiters
is that they can interview and evaluate candidates in real time.
Team Microsoft Mesh uses avatars to create a sense of presence in the virtual
Collaboration workspace. Here, coworkers can gather and attend meetings using Mesh for
Teams.
With Pixelmax, companies can build anything, use in-build data capture and
Digital Twins analytics to pinpoint potential problems as soon as possible, and take action
quickly.
Skills The medical technology company Medivis uses HoloLens technology to train
Development medical students through interaction with 3-D anatomy models.
170
Sources: Company information; Statista Advertising & Media Insights 2023

Metaverse Workplace revenue is estimated to increase at a CAGR(1) of 29.1%
from 2022 to 2030
Market Size: Global
26,890.0
21,111.2
+29.1% (1)
15,637.1
11,239.2
8,109.7
6,051.3
4,759.7
3,495.1 3,970.4
2022 2023 2024 2025 2026 2027 2028 2029 2030

The United States shows the biggest growth in Metaverse Workplace revenue
+30.0%(1)
9,472.3 +28.9%(1) +29.2%(1)
6,973.3 7,185.0
+26.7%(1)
3,259.4
1,161.2 916.7 926.7

490.5
2022 2030 2022 2030 2022 2030 2022 2030


countries, in 2022
+28.6%(1)
+28.7%(1)
1,378.7 +28.8%(1)
1,173.6 +28.8%(1)
1,044.5
810.2 +28.9%(1)
454.2
184.8 156.2 138.1 107.0 59.6
2022 2030 2022 2030 2022 2030 2022 2030 2022 2030

Agenda

Overview 4
Segments
174
CHAPTER 3
Appendix
GLOBAL CONSUMER SURVEY 2022
Understand what drives

consumers
The Statista Global Consumer Survey offers a global perspective on
consumption and media usage, covering the offline and online
world of the consumer. Our survey is designed to help marketers,
planners, and product managers understand consumer behavior
and consumer interactions with brands.
• Cross-tabulation
• Customized target groups
+
• Trend and country comparisons
• Export in Excel (CSV) or PowerPoint format
Find out more on:

statista.com/global-consumer-survey 1,500,000+ 56 3.4bn.+ 11,500+ 50+
interviews countries & represented international topics &
territories consumers brands industries
176
ADVERTISING & MEDIA Insights
Figures and insights about the

advertising and media world
The Advertising & Media Insights provides forecasts and detailed
market information regarding two interlinked topics relevant to
decision-makers in almost every industry. It is designed to help you
understand these markets on a global scale.
• All relevant advertising and media topics

• Market insights, forecasts, and key performance
indicators
• 150+ countries and territories as well as 37 regions
Find out more on:

statista.com/outlook/advertising-media
177
DIGITAL MARKET Insights
The digital future of

90+ markets in over 150 locations
The Digital Market Insights presents up-to-date figures on markets
of the digital economy. The comparable key figures are based on
extensive analyses of relevant indicators from the areas of society,
economy, and technology.
• Eight digital verticals: eCommerce, Smart Home, Digital

Media, eServices, FinTech, Digital Advertising, Digital
Health, and App
• Covering the period 2017 to 2026
Find out more on:

statista.com/outlook/digital-markets
178
COMPANY DB
Gain insights into over

15 million companies
The Company Database provides information on more than 15
million listed and privately held companies and contains the most
important company key figures as well as in-depth analyses.
Additionally, we offer a wide range of extra KPIs for listed
companies.
• Company information and key company metrics for 15+

million companies worldwide
• Tailored rankings in 200+ countries and territories as well
as 80+ industries
• In-depth information for 40,000+ stock-listed companies
Find out more on:

statista.com/companydb/about
179
TOPLISTS
Insight into over

150 company rankings
With the Statista Toplists, you’ll be able to gain insights into the
biggest companies in a country, territory, or industry. The rankings
are based on the companies’ revenues. The Toplists offer an ideal
springboard for researching leads in your sales department and
gaining insights into new markets. They can serve as a starting point
for further market assessments.
• The most important company figures and KPIs at one

glance
• 60+ industries covered
• 50+ countries and territories covered
• 40+ trends covered
Find out more on:

statista.com/toplists
180
Author
Jonah Trenker
Analyst Digital Markets
Jonah.trenker@statista.com
Jonah Trenker graduated from Eberhard-Karls University Tübingen with a focus on

economics and finance. He acquired deep knowledge of overall economic topics as
well as market modeling and structure on an empirical level. At Statista he works
on projects related to the digital economy.
181
www.statista.com

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DIGITAL & TRENDS

Market Outlook Metaverse Workplace 166

Sources: Statista Advertising & Media Insights 2023

Sources: Statista Advertising & Media Insights 2023

Revenue in the metaverse market is projected to reach US$54.95bn in 2023.

Revenue is expected to show an annual growth rate (CAGR 2023-2030) of 36.71%,

With a projected market volume of US$17.48bn in 2023, most revenue is generated

In the metaverse market, the number of users is expected to amount to 1,458.1m

The average revenue per user (ARPU) is expected to amount to US$120.20.

Sources: Statista Advertising & Media Insights 2023

The 4 major eras of computing

Mainframes Personal Mobile and Metaverse

1950s – 1970s 1970s – present mid 2000s - present 2020s – ?

Sources: Statista Advertising & Media Insights 2023

What is the metaverse? Trends shaping the minimum viable Metaverse

The Metaverse is a term used to

• the democratization of eCommerce(3)

Sources: Tencent's Dreams; Geffen; Forbes; Kurani

Good reviews 39%

The Gathering tech Black Mirror: Bandersnatch Friends play 31%

Kids play 12%

Learning competition, the International game marriages in 2021 Parents/siblings

Changing landscape of the gaming industry

Technology enablers for next level gaming

Immersive Gaming Experience

10 Notes: (1) VR: Virtual Reality; (2) AR: Augmented Reality

Sources: Statista Advertising & Media Insights 2023

Extended reality use case overview

Virtual Reality (VR) Augmented Reality (AR) Mixed Reality (MR)

Real world with digital information

Sources: Statista Advertising & Media Insights 2023; aniwaa

Global AR & VR revenue development in billion US$(1)

Development Trough Expansion & Recovery

Sources: Statista Advertising & Media Insights 2023; Deloitte

The essentials of gaming in the metaverse

AR & VR Use of real-time data

technology allows for helps to create a realistic

Collectible items 3D worlds

are items with real-world provide gamers with interactive

171,8 Roblox is a platform-like multiplayer game that hosts a

Seven layers and technologies within the metaverse

Discovery Creator Economy Spatial Computing

Blockchain A.I agent

15 Notes: (1) VR: Virtual Reality (2) AR: Augmented Reality

Sources: Jon Radoff ; Company information

Web 3.0 connects

Web 1.0 connected

Digital Twin Economy MR(1)

Sources: Coin IX; XBTO; Activate analysis; Greyscale

Sources: Deloitte; Company information; Gennaro Cuofano

Selected key players presence in Metaverse ecosystem

Immersive Mixed Reality Mixed Reality Social Creation & Virtual

Glasses ? iMessage Reality Memoji AT&T Comcast Verizon T-MobileNFT Trading

NFT Games via

Sources: Activate Consulting; Company information

Meta‘s Metaverse strategy overview

Gaming Hardware Advertising

Sources: Company information; CBinsights

Sources: Bloomberg; Company information

Apple‘s metaverse strategy overview

Sources: Company information; Cbinsights; The Verge

Metaverse ecosystem overview

Games & Virtual Spaces Digital Property & NFTs

Developers & Publishers Crypto & Payments

Global mobile broadband subscriptions and average connection speed