Organization: by 2030, the metaverse market will grow to US $678.8 billion with 39% CAGR

Source: subspace

According to jiwei.com, a new report from market research firm grand view research predicts that from 2021 to 2030, the scale of the global metaverse market will increase from US $38.85 billion to US $678.8 billion, with a compound annual growth rate of 39.4%.

According to eenews, the report points out that during this period, the market will be driven by the increasing demand of end-use industries such as media, entertainment, education and education, and aerospace and national defense are also expected to bring impetus.

In 2021, due to the increased adoption of AR, VR and MR equipment, the hardware sub field in the product field dominated the global metaverse market and occupied the largest market share. Among them, the display gained the highest revenue share in the hardware segment in 2021, while the programming engine occupied the largest market share in the software segment.

In addition, desktops and headphones account for 42.2% and 34.9% of the overall market in 2021, and are expected to remain the highest revenue segment during the forecast period. The game field is expected to dominate the application field. Due to the increased demand for social media applications, the content and social media sector is expected to witness considerable growth over the forecast period.

The report further points out that during the forecast period, the demand for metaverse network and digital asset trading platform based on blockchain continues to grow, which is expected to promote the significant growth of market revenue. One of the main factors driving the future business expansion of metaverse is the rise of the game industry. (checked / ukyan)

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