Global Metaverse Gaming Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2022-2028: Soaring investments in gaming platforms and inclination toward AR, VR technologies are set to act as a growth lever of the global Metaverse gaming market.
The Global Metaverse Gaming Market is valued at USD XXX Billion in 2021 and is expected to reach USD XXX Billion by 2028 with a CAGR of XX% over the forecast period.
Over the past few months, the term “Metaverse” has been rising in popularity. It is referred to as a decentralized computing platform and virtual reality experience containing diverse digital realms. Metaverse has seen massive growth after the announcement of the CEO of Facebook Mark Zuckerberg. The evolution of virtual reality is showing a huge craze for gaming in the metaverse. The metaverse is rife with rewarding opportunities for Augmented Reality (AR), Virtual Reality (VR), as well as NFT-savvy brands.
The Covid-19 has shown optimistic growth in the global metaverse gaming market. The significant growth during covid was a result of stringent norms implemented by governments like strict lockdown. Strict lockdown made a huge chunk of the population idle as result people moved towards indoor activities inducing video games. The Covid-19 pandemic has augmented the growth of virtual communities, while new advancements are laying the groundwork for post-covid life. This has successfully accelerated the popularity of gaming in the metaverse.
The global Metaverse gaming market is segmented based on component, device, technology, and geography. Based on component type, the global Metaverse gaming market is segmented into hardware and software. Based on device, the global Metaverse gaming market is segmented into mobile, VR headsets, PCs, and gaming consoles. On basis of technology, the global Metaverse gaming market is segmented as NFTs, blockchain, virtual reality, augmented reality, mixed reality, and extended reality.
The regions covered in this global Metaverse gaming market report are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Based on a country level, the market of global Metaverse gaming is subdivided into the U.S., Canada, Brazil, Mexico, Germany, U.K., France, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some of the key players for global Metaverse gaming are
On November 3rd, 2021, Microsoft revealed at its Ignite conference a corporate version of a metaverse based over its Teams chat software, permitting users to meet in virtual reality. CEO of the company, Satya Nadella declared the Covid-19 pandemic has created the commercial use issues of this type of virtual world much more mainstream.
On January 4th, 2022, The Harder They Fall ($THTF) launched a new gaming metaverse which is set in the Wild West and presents a thrilling play-to-earn action-based gaming experience.
On January 19th, 2022, Swaraj Inc. is set to launch a metaverse gaming project themed over the idea of Swaraj, i.e., 'self-governance.’ In accordance with the team of company, the objective was to transport power back to the people through creating a decentralized ecosystem controlled by and for the people themselves.
On February 14th, 2022, the Japanese video game publishing giant, Bandai Namco has recently exposed that it is employed on a new growth project, one that could get characters and sceneries from Dark Souls, Dragon Ball Z, and Elden Ring all hit in the metaverse, in a bid to permit fans to interact through its diverse IPs over a shared interface.
The rapidly rising popularity and investment in online gaming are one of the foremost factors propelling the metaverse gaming market. Metaverse allows consumers to digitally immerse themselves online for a longer period of time. As metaverse is gaining more traction, several companies are investing millions of dollars to leverage the benefits of becoming the first mover in the market. Companies such as Roblox and The Sandbox are increasingly focusing on the development of virtual worlds that provide highly enhanced immersive gaming experiences. For example, on 18th February 2022, an open-world metaverse platform, Bullieverse has increased around USD 4 million from investors led by Web3 venture funds to help build an arcade of play-to-earn games. Also, on 4th January 2022, BOTS, Inc., a blockchain technology conglomerate invested in online gaming company XR Casino, Inc. to develop games on their upcoming Las Vegas-themed Metaverse platform. Apart from the above-mentioned companies, other businesses are also investing some amount of cash reserves in the metaverse market to reap benefits. The aforementioned investments by metaverse gaming companies are set to propel the market growth generating enormous opportunities during the forecast period.
Over the past few years, the virtual reality gaming sector has played a substantial role. Soaring access to VR devices and rapid advancement in AR, VR, and XR technologies is another factor booming gaming in the metaverse market worldwide. Oculus Quest is an all-in-one 6DOF headset with positionally tracked controllers launched in 2019 made for immersive VR gaming. Additionally, at Game Developers Conference 2022, Unity conducted a session titled ""Building Next-Gen Games for PSVR2,"" and the firm appears to be as eager as many developers about the future VR technology. Such loads of innovation in the VR gaming sector will prosper the market at a fantastic speed.
However, digital privacy concerns and data harvesting is limiting the market growth. Despite this, rapid advancements in cloud gaming and expanding gaming platforms in major economies are some of the factors expected to create lucrative opportunities in the global metaverse gaming market.
North America has led the metaverse gaming market due to the presence of leading metaverse gaming companies like Sandbox and Roblox. It is poised to maintain its dominance throughout the assessment period owing to increasing investments by leading gaming brands. For instance, Roblox stock enhanced a complementary, high-conviction business to its holdings. Such massive investments in metaverse gaming by masses of players are set to generate auspicious opportunities in the forecast period.
North America is followed by Europe, but the Asia Pacific is set to experience the fastest growth rate among other regions. It is estimated that the total metaverse addressable market opportunity of China is over US$ 8 trillion. Aggressive investments by leading Chinese companies like ByteDance and Alibaba will drive the regional market.
Middle East and Africa
|Historical data||2015 - 2020|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD XXX Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD XXX Million|
|Tables, Charts & Figures:||175|
|Metaverse In Gaming Companies||Roblox Corporation, Microsoft, Activision Blizzard, Electronic Arts, Take-Two, Tencent Holdings Ltd, NetEase, Magic Leap, Inc., Epic Games, Other|
|Segments Covered||By Component Type, By Device, By Technology|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|