Metaverse in entertainment market size to grow by USD 28.92 billion, Insights on the Key Drivers and Trends – Technavio – Yahoo Finance
NEW YORK, Nov. 30, 2022 /PRNewswire/ — The metaverse in entertainment market size is projected to grow by USD 28.92 billion, progressing at a CAGR of 8.55% from 2021 to 2026. Based on region, the global metaverse in the entertainment market is segmented into North America, South America, Europe, APAC, and MEA. North America is estimated to contribute 33% to the growth of the global market over the forecast period. The rapid convergence of the entertainment industry, the traction of the gaming culture, the integration of gaming services into the service offerings of major entertainment brands, and the increased investments to create immersive gaming and entertainment experiences will facilitate the metaverse in entertainment market growth in North America over the forecast period.
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Metaverse in the entertainment market: Rising consumer spending across virtual concerts, events, and others drives the growth
The rising consumer spending across virtual concerts, events, and others is driving the growth of the market. For instance, in India, the media and entertainment business reached USD 19 billion in 2020 and is projected to record USD 25.9 billion by 2023. The significant rise in the demand for virtual events and an increase in the number of people attending concerts and events will propel the industry further. Moreover, immersive technologies such as AR and VR are evolving at a rapid pace. Such factors will contribute to the growth of the market in focus during the forecast period.
Metaverse in the entertainment market: Rising consumer adoption of online gaming is the key trend
Rising consumer adoption of online gaming is a key trend in the market. Metaverse provides an immersive visual experience with the help of emerging technologies such as blockchain, IoT, and 3D visualization. According to KPMG, online gaming will reach 510 million people by the end of 2022. Moreover, the increasing use of advanced gaming technologies, changing entertainment choices for consumers, and rising income levels will further support market growth in the coming years.
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Metaverse in entertainment market: Segmentation analysis
This market research report segments the metaverse in the entertainment market by end-user (film production, music labels, OTT platforms, television broadcasters, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others. Buy the report!
Some of the key topics covered in the report include:
Market positioning of vendors
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The metaverse in e-commerce market size is expected to grow by USD 60.47 billion from 2021 to 2026 at a progressing CAGR of 36.47%. The growing popularity of AR technology is notably driving the metaverse in e-commerce market growth, although factors such as privacy and security concerns over the metaverse may impede the market growth.
The metaverse market in finance is estimated to grow at a CAGR of 21.33% between 2022 and 2027. The size of the market is forecasted to increase by USD 107.06 billion. This report extensively covers segmentation by component (hardware and software), end-user (brokerage firms, investment banks, commercial banks, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
Metaverse in Entertainment Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 8.55%
Market growth 2022-2026
USD 28.92 billion
YoY growth (%)
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 33%
US, Canada, China, UK, and Germany
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Aomen City, Epic Games Inc., Hungama Digital Media Entertainment Pvt. Ltd., Meta Platforms Inc., Niantic Inc., OverActive Media Corp., Qualcomm Inc., Queppelin, Roblox Corp, Tencent Holdings Ltd., and Tetavi Ltd.
Parent market analysis; market growth inducers and obstacles; fast-growing and slow-growing segment analysis for the forecast period dynamics, market condition analysis for the forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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Table of Contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
4 Five Forces Analysis
4.1 Five forces summary
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
5 Market Segmentation by End-user
5.1 Market segments
5.2 Comparison by End-user
5.3 Film production – Market size and forecast 2021-2026
5.4 Music labels – Market size and forecast 2021-2026
5.5 OTT platforms – Market size and forecast 2021-2026
5.6 Television broadcasters – Market size and forecast 2021-2026
5.7 Others – Market size and forecast 2021-2026
5.8 Market opportunity by End-user
6 Customer Landscape
6.1 Customer landscape overview
7 Geographic Landscape
7.1 Geographic segmentation
7.2 Geographic comparison
7.3 North America – Market size and forecast 2021-2026
7.4 Europe – Market size and forecast 2021-2026
7.5 APAC – Market size and forecast 2021-2026
7.6 South America – Market size and forecast 2021-2026
7.7 Middle East and Africa – Market size and forecast 2021-2026
7.8 US – Market size and forecast 2021-2026
7.9 UK – Market size and forecast 2021-2026
7.10 China – Market size and forecast 2021-2026
7.11 Canada – Market size and forecast 2021-2026
7.12 Germany – Market size and forecast 2021-2026
7.13 Market opportunity by geography
8 Drivers, Challenges, and Trends
8.1 Market drivers
8.2 Market challenges
8.3 Impact of drivers and challenges
8.4 Market trends
9 Vendor Landscape
9.2 Vendor landscape
9.3 Landscape disruption
9.4 Industry risks
10 Vendor Analysis
10.1 Vendors covered
10.2 Market positioning of vendors
10.3 Aomen City
10.4 Epic Games Inc.
10.5 Hungama Digital Media Entertainment Pvt. Ltd.
10.6 Meta Platforms Inc.
10.7 Niantic Inc.
10.8 OverActive Media Corp.
10.9 Qualcomm Inc.
10.11 Roblox Corp
10.12 Tetavi Ltd.
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
11.3 Currency conversion rates for US$
11.4 Research methodology
11.5 List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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