Rising focus on converging digital and physical worlds through the Internet and the recent COVID-19 outbreak are key factors driving market revenue growth
The global metaverse market size reached USD 47.69 Billion in 2020 and is expected to register a revenue CAGR of 43.3% during the forecast period, according to latest analysis by Emergen Research. Rising focus on converging digital and physical worlds through internet and the recent COVID-19 outbreak are expected to support market revenue growth between 2021 and 2028. In addition, increasing emphasis on developing metaverse platforms for education industry will continue to boost revenue growth of the market.
Korea Advanced Institute of Science and Technology (KAIST) intends to develop a virtual campus in Kenya, which will start in September 2023 in Konza Technopolis in nearby Nairobi. The university desires to develop a metaverse that will run classrooms and provide an immersive learning opportunity on campus through the use of augmented reality, virtual reality, and eye tracking technology. Soonchunhyang University in Korea arranged a virtual welcoming event for freshers to participate as avatars.
However, issues about identity and reputation in metaverse are expected to hamper market revenue growth during the forecast period. When it comes to the real world, the issue of personal identity and representation is quite easy. However, when it comes to virtual worlds, verification of users is quite difficult as another individual or even a bot can attempt to replicate actual identity.
Based on the in-depth analysis the research also brings to light major facts pertaining to the vital aspects such as market share, size, and growth rate. Deep dive into other aspects including the investment feasibility, demand and supply, import and export status, supply chain management and growth prospects narrates a lot about what the business environment will be like for the forecast period,2021 – 2028. All the vital statistics in the report are explained with the help of resources such as tables, charts, and info graphics.
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Some Key Highlights From the Report
The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Metaverse market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.
Companies profiled in the global Metaverse market:
The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.emergenresearch.com/industry-report/metaverse-market
Emergen Research has segmented global metaverse on the basis of component, platform, offerings, technology, application, end-use, and region:
Subject matter experts behind the study dive deep into the competitive landscape to assess the top performers across the world and unearth the strategies that have given them a competitive edge over others operating in the Metaverse industry. Other vital aspects including the market share, size and growth rate for the forecast period, 2021 – 2028 also forms an important of the study and valuable resource for business owners, stakeholders, and marketing personnel planning to zero in on their business strategy.
Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Detailed Regional Analysis covers:
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Key Features of the Metaverse Market Report:
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