According to the Market Statsville Group (MSG), the global Metaverse in Gaming market size is expected to grow from USD 26.7 billion in 2021 to USD 478.5 billion by 2030, at a CAGR of 37.8% from 2022 to 2030. Some key factors predicted to drive market revenue growth over the forecast period include the expanding popularity of play-to-earn games, rapid improvements in AR, VR, and XR technologies, and a growing user base in the gaming industry. Other reasons that could contribute to market revenue growth in the future include increased usage of VR headsets and other hands-free technologies, increased development of play-to-earn gaming platforms in the metaverse, and rapidly rising investment in metaverse gaming platforms.
Global Metaverse in Gaming Market Definition
The metaverse is a virtual platform that integrates digital technologies such as virtual reality and augmented reality, as well as other technologies, including video conferencing, cryptocurrencies, gaming, social media, and live-streaming. In gaming, the metaverse allows players to immerse themselves in virtual reality, and an increasing number of organizations are working on developing digitally immersive platforms to provide customers with better gaming experiences.
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COVID-19 Impact on the Global Metaverse in Gaming Market
During the covid-19 pandemic, people turned to entertainment to keep their minds from all the negative news due to strict restrictions and lockdowns. Internet use increased significantly during the global lockdown. Specifically, the gaming sector experienced a surge in use and demand. Metaverse in gaming saw a steep growth and an increased number of players. Many games were popular among people, such as Minecraft, Roblox, Grand Theft Auto, and more.
Scope of the Global Metaverse in Gaming Market
The study categorizes the metaverse in gaming market based on components, devices, technology, and age group at the regional and global levels.
By Component (Sales, USD Billion, 2017-2030)
By Devices (Sales, USD Billion, 2017-2030)
- Gaming Console
- AR Glasses
- VR Headsets
By Technology (Sales, USD Billion, 2017-2030)
- Virtual Reality
- Augmented Reality
- Mixed Reality
- Extended Reality
- Internet of Things (IoT)
- 3D Reconstruction
By Age Group (Sales, USD Billion, 2017-2030)
- Below 10 years
- 11-19 years
- 20-35 years
- Above 35 years
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By Region (Sales, USD Billion, 2017-2030)
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
VR headsets segment is projected to account for the largest market share by type
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In 2021, the VR headsets segment accounted for the largest market share in the global metaverse in the gaming market. The growth attributes to increased demand for immersive gaming experiences, technological developments in AR and VR devices, the rising popularity of VR gaming, and the quick launch of upgraded VR headsets.
APAC accounts for the highest CAGR during the forecast period
Globally, APAC is estimated to hold the highest CAGR in the global metaverse in the gaming market during the forecast period. The growth in the region is expected to surge due to the increasing gaming population and acceptance of blockchain technology. Further, the surging adoption of gamming laptops and computers in the region will drive the market’s growth over the forecast period.
Key Market Players in the Global Metaverse in Gaming Market
The global metaverse in gaming market is highly competitive, with key industry players adopting various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
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Major players in the global metaverse in gaming market are:
- Roblox Corporation
- Tencent Holdings Ltd
- Epic Games
- Magic Leap, Inc.
- Facebook, Inc
- Lilith Games
- ByteDance Ltd
- NetEase Inc
- Nvidia Corporation