Latest News- Metaverse Market: VR and AR devices is expected to lead the Device segment during 2025-2029

The Metaverse Market is being driven by Increasing demand for AR and VR technology

The Metaverse Market is expected to grow at a CAGR of 39.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 482468.3 million. In the Metaverse Market, companies are strategically introducing new products to broaden their offerings and boost sales. Notably, Apple's Vision Pro set a high-end standard for mixed reality in February 2024, followed by Meta's Quest 3S at an affordable USD299 price point in October 2024. HTC entered the fray in September 2024 with the 5K-resolution VIVE Focus Vision, catering to enterprise and gaming sectors. Sony's 4K-OLED XR headset, launched for professional content creation, joined the race in the same month. Samsung and Google announced an Android-based XR ecosystem, with Samsung's headset aiming to challenge Apple's visionOS and Meta's Quest platform. Lightweight productivity-focused XR visors from Immersed are anticipated for summer 2025. These product launches are expected to fuel market growth throughout the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Device
  • VR and AR devices
  • Computing devices
• Component
  • Hardware
  • Software
  • Services
• Platform
  • Desktop
  • Mobile
  • Console
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for AR and VR technology
• Growing smartphone penetration and use of 5G
• Rise of blockchain as service

However, the market also witnesses some limitations, which are as follows:

• Privacy and security concerns over metaverse
• Legal and regulatory issues
• Limitations of AR and VR technology

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Market Scope in Metaverse Market Research Report

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Research Analysis Overview

In the Metaverse Market, users engage in interactive virtual worlds, where digital identities are verified. Immersive storytelling and 3D environment designs captivate, while user interaction and virtual asset trading are facilitated. Decentralized governance ensures cross-platform compatibility, and virtual space optimization enhances efficiency. Content creation tools and virtual goods marketplaces foster creativity. Data privacy regulations and security vulnerabilities are addressed through user authentication systems and AI-powered chatbots. Virtual training platforms, extended reality applications, and spatial computing architecture expand possibilities. Blockchain technology underpins virtual real estate transactions, and game development frameworks fuel innovation. Digital art creation and NFT minting processes enable monetization of virtual creations.

Market Research Overview

The Metaverse Market, encompassing virtual reality systems, augmented reality applications, blockchain integration, and 3D modeling software, is a significant segment of the global Technology Hardware, Storage, and Peripherals Market. This market category, according to Technavio, is a key component of the larger global Information Technology Market. The parent Technology Hardware, Storage, and Peripherals Market includes manufacturers of cellular phones, personal computers, servers, electronic computer components, peripherals, data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other hardware devices and components. Technavio estimates the market size based on the revenue generated from sales of these hardware devices, equipment, and components. Key growth drivers for the Technology Hardware, Storage, and Peripherals Market include the increasing volume, velocity, veracity, and variety (4Vs) of data, necessitating advanced data storage solutions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/