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 Drivers
Market Challenges
Market Trends
Vendor Landscape
Vendors covered
Vendor classification
Market positioning of vendors
Competitive scenario
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Metaverse in Entertainment Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 8.55%
Market growth 2022-2026
USD 28.92 billion
Market structure
Concentrated
YoY growth (%)
7.41
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 33%
Key countries
US, Canada, China, UK, and Germany
Competitive landscape
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.
Market dynamics
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
Customization purview
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
9.1 Overview
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.
10.10 Queppelin
10.11 Roblox Corp
10.12 Tetavi Ltd.
11 Appendix
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
About Technavio
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.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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