According to DataHorizzon Research, The metaverse in gaming market size was valued at USD 21.6 Billion in 2022 and is expected to reach the market size of USD 563.8 Billion by 2032 with a CAGR of 38.6%.
Fort Collins, Colorado, Sept. 27, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Metaverse in Gaming Market Size, Trends, Growth, Share, Statistics Analysis Report, By Component (Hardware, Software, And Services), By Game Type, Industry, By Region And Segment Forecasts, 2023-2032."
According to DataHorizzon Research, The metaverse in gaming market size was valued at USD 21.6 Billion in 2022 and is expected to reach the market size of USD 563.8 Billion by 2032 with a CAGR of 38.6%. The report comprehensively analyzes the global market scenarios with key takeaways. The report also highlights the present and future trends in the industry, followed by actionable market insights. The metaverse concept is captivating as it is a fully immersive virtual world created using advanced technologies such as augmented reality, virtual reality, and mixed reality. This platform offers an unparalleled digital experience that enables users to engage in many activities, including playing games, conducting transactions, socializing with others, buying and selling virtual property, accessing a vast digital content library, and attending virtual events. The metaverse is truly a game-changer in the world of technology and has the potential to revolutionize the way we interact with the digital world.
The metaverse concept takes the gaming experience to new heights by providing an all-encompassing immersive experience customized to the user's preferences. The technology behind it, augmented reality (AR) and virtual reality (VR) creates a world where players can lose themselves in the gameplay. The platform also offers a social aspect, enabling gamers to interact and play games with others in a virtual world. Social gaming has become increasingly popular in the metaverse, as it encourages interaction among players both within and outside the game. Overall, the metaverse is a game-changing advancement in the gaming industry that offers players a unique and engaging experience.
Prominent digital technology and gaming corporations invest significant resources in developing their unique metaverses. One of the primary factors driving this increased investment in metaverse technology is its vast marketing potential for various products. Furthermore, the growing popularity of AR and VR headsets is expected to drive demand for metaverse gaming further. As these headsets become increasingly prevalent, their demand is also rising. Additionally, the increasing adoption of blockchain-based technologies, including cryptocurrency and non-fungible tokens (NFTs), is anticipated to contribute positively to the growth of the metaverse in the gaming industry.
The metaverse trend in the gaming industry is on the rise, providing a range of opportunities for established market players. With metaverse virtual worlds operating in various games, interoperability presents growth prospects by allowing continuous navigation between different platforms and applications. Interoperability can create a seamless consumer experience and expand brand reach by increasing presence on multiple platforms. It also ensures that a company's products and services establish their presence and are easily accessible across the virtual world. Furthermore, it enables organizations to connect with consumers innovatively and reach a wider audience. The metaverse allows users to freely move between different worlds while retaining their avatars and digital assets.
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Report Snapshot:
| Report Title | Metaverse in Gaming Market |
| Market Size in 2022 | USD 21.6 Billion |
| Market Size by 2032 | USD 563.8 Billion |
| CAGR from 2023 to 2032 | 38.6% |
| Largest Market | Asia Pacific |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market size, estimations, competitor analysis, trends, and growth factors |
| By Component | Hardware (AR devices, VR devices, MR devices, and others), software (extended reality software, gaming engines, 3D mapping, modeling, & reconstruction, financial platforms, and metaverse platforms), and services |
| By Game Type | Action, adventure, casual, role-playing, simulation, sports & racing, sandbox, and strategy |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, and South Africa |
| Major Market Players | Meta, Activision Blizzard, Netease, Electronic Arts, Take-Two, Tencent, Nexon, Epic games, Unity, Valve, Accenture, Adobe, HPE, Deloitte, Ansys, Autodesk Inc., Intel, Tech Mahindra, ByteDance, Nvidia, Microsoft, Samsung, Google, Sony, HTC, Seiko Epson, Apple, Qualcomm, Panasonic, EON Reality, Roblox, Lenovo, Razer, Nextech AR Solutions, ZQGame, TaleCraft, VRChat, Decentraland, Somnium Space, Sandbox |
Segmentation Overview:
The metaverse in gaming market is segmented based on component, game type, and region.
The software segment is leading the market share. Extended reality software held the largest market share within the software segment. Gaming engines are expected to retain a high CAGR during the forecast period as the power virtual worlds and support advanced VR and AR applications. Major gaming engines such as Unreal Engine Unity and open source engines such as Open 3D Engine (O3DE), Blender, and Godot are utilized by major companies to develop metaverse-compatible games, which is expected to boost segment growth.
The strategy genre dominates the metaverse gaming market, which commands a significant market share. This type of game requires the player to develop and implement strategies to progress, making it immensely engaging and contributing to its increasing popularity in the metaverse. Some of the most popular strategy games in the metaverse include Axie Infinity, Fortnite, Axes Metaverse, and many others.
The Asia Pacific dominated the global market in 2022 due to a thriving gaming industry, government policies, and investments. In January 2023, the South Korean government announced plans to launch a virtual replica of its capital city to improve public services, while the Japanese government revealed plans for investment in non-fungible tokens (NFTs) and metaverse services.
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Key Developments in the Metaverse in Gaming Market:
- The Sandbox has teamed up with TOEI ANIMATION and Minto, Inc. to bring IP-based experiences to The Sandbox Metaverse. TOEI ANIMATION is a well-known Japanese animation pioneer responsible for producing popular shows like “DRAGON BALL,” “SAILORMOON,” and “ONE PIECE.”
- Nextech3D.AI, a Generative AI-powered 3D model supplier for major retailers, has appointed Hareesh Achi as the new Head of Product Operations. With over a decade of experience at industry giants MSFT & META, Hareesh will enhance Nextech3Dai’s productivity capabilities and profitability through operational efficiency.
Metaverse in Gaming Market Report Highlights:
- The metaverse in gaming market size is expected to reach the market size of USD 563.8 Billion with a CAGR of 38.6% by 2032. The metaverse is a fully immersive virtual world that uses AR and VR to provide a customized gaming experience. Users can socialize, buy and sell virtual property, and attend virtual events. The growing popularity of AR and VR headsets and blockchain-based technologies presents growth opportunities for market players. Interoperability expands brand reach and connects organizations with a broader audience.
- Extended reality software holds the largest market share in the software segment. Gaming engines, like Unreal Engine and Unity, support advanced VR and AR applications and are expected to have a high CAGR. The strategy genre dominates the metaverse gaming market and is immensely engaging, contributing to its increasing popularity. Popular strategy games in the metaverse include Axie Infinity and Fortnite.
- The Asia Pacific led the global market in 2022 with a thriving gaming industry and government investments. In January 2023, South Korea plans to launch a virtual replica of its capital city while Japan invests in NFTs and metaverse services.
- Some of the prominent players in the global metaverse in gaming market report include Meta, Activision Blizzard, Netease, Electronic Arts, Take-Two, Tencent, Nexon, Epic games, Unity, Valve, Accenture, Adobe, HPE, Deloitte, Ansys, Autodesk Inc., Intel, Tech Mahindra, ByteDance, Nvidia, Microsoft, Samsung, Google, Sony, HTC, Seiko Epson, Apple, Qualcomm, Panasonic, EON Reality, Roblox, Lenovo, Razer, Nextech AR Solutions, ZQGame, TaleCraft, VRChat, Decentraland, Somnium Space, Sandbox.
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Metaverse in Gaming Market Report Segmentation:
Metaverse in Gaming Market, By Component (2023-2032)
- Hardware
- Software
- Services
Metaverse in Gaming Market, By Game Type (2023-2032)
- Action
- Adventure
- Casual
- Role-playing
- Simulation
- Sports & Racing
- Sandbox
- Strategy
Metaverse in Gaming Market, By Region (2023-2032)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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