The metaverse in entertainment market share is expected to grow at a CAGR of 9.07% between 2022 and 2027. The growing adoption of AR/VR gaming by individuals and the rising consumer adoption of online gaming provides a promising ground for the metaverse in the entertainment market.
AR gaming refers to the integration of game visual and audio content with the environment of the users in real time. Users can play the games of their choice in any environment using AR technology. The adoption of AR devices such as smart glasses is likely to increase during the forecast period due to rising awareness about AR gaming.
Technavio’s analysis on “Metaverse in Entertainment Market” projects that the market share is expected to increase by USD 33,323.31 million at an accelerating CAGR during 2023-2027.
Browse Technavio's 165-page report and in-depth TOC on "Metaverse in Entertainment Market by end-user (film production, music labels, OTT platforms, television broadcasters, and others), component (hardware, software, and services), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
View detailed Table of Contents Here: https://www.technavio.com/report/metaverse-in-entertainment-market-industry-analysis
The metaverse in the entertainment market is segmented by end-user (film production, music labels, OTT platforms, television broadcasters, and others), component (hardware, software, and services), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The market share growth by the film production segment will be significant during the forecast period. Scenes shot in the actual world can be projected onto the metaverse or can be shot in a virtual world using avatars. North America is estimated to contribute 33% to the growth of the global market during the forecast period. The growth of interactive entertainment platforms and an increasing focus on exploiting metaverse platforms for more enriched experiences are enabling the co-creation of content in new ways.
The privacy and security concerns over the metaverse are major challenges impeding market growth. Data privacy and security have been a long-running concern for users of the metaverse even though companies and organizations keep revolutionizing their IT security systems. Metaverse can access the personal data of users and may pose a threat to their privacy.
The market structure is fragmented, and the vendors are implementing various strategies such as technological innovations to compete in the market.
Some of the major metaverses in the entertainment market vendors are Animoca Brands Corp. Ltd., BATTLE INFINITY, Decentraland, Epic Games Inc., Gamefam Inc., Hungama Digital Media Entertainment Pvt. Ltd., Meta Platforms Inc., NFT Worlds, Niantic Inc., Nolan Consulting Ltd., NVIDIA Corp., OverActive Media Corp., Qualcomm Inc., Queppelin, Roblox Corp., Scuti.AI LLC, Sky Mavis, SportsIcon Inc., Tencent Holdings Ltd., and Zilliqa Research Pte. Ltd.
animocabrands.com - The company offers metaverse in entertainment such as The Sandbox metaverse
decentraland.org- The company offers metaverse in entertainment such as decentralized metaverse.
epicgames.com- The company offers metaverse in entertainment such as Lego game metaverse.
Download the PDF Sample Report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth.
Precise market size estimation during the forecast period 2023-2027.
CAGR of the metaverse in entertainment market forecast during 2023-2027.
Market-level data on units, average selling prices, and values of the metaverse in entertainment market share.
Prediction of the upcoming trends, drivers, and factors that challenge the metaverse in the entertainment market.
Metaverse in entertainment market growth across North America, Europe, APAC, South America, and Middle East and Africa.
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