Metaverse’s entertainment market is projected to grow by $28.92 billion, with rising consumer spending expected to drive growth

NEW YORK, November 11, 2022 /PRNewswire/ — The size of the global entertainment market metaverse is expected to continue to grow $28.92 billion from 2021 to 2026. Moreover, the growth momentum of the market is set to accelerate with a CAGR of 8.55%. The market is divided by end-user (film production, music labels, OTT platforms, TV broadcasters and others) and geography (North America, EuropeAPAC, South Americaand middle East and Africa). Get a comprehensive report executive summary that describes the market size and forecast along with the research methodology. The FREE sample report is available in PDF format

Technavio has announced its latest market research report titled Global Metaverse in Entertainment Market 2022-2026

Technavio has announced its latest market research report titled Global Metaverse in Entertainment Market 2022-2026

Global Metaverse in Entertainment Market: Drivers, Trend and Challenge

That increasing consumer spending on virtual concerts, events and others drives market growth. The increasing demand for virtual events as well as the increasing number of visitors to concerts and events will continue to drive the industry. Immersive technologies like AR and VR are evolving rapidly. Such factors will contribute to the growth of the market during the forecast period.

That increasing consumer acceptance of online games is a trend in the market. Metaverse offers an immersive visual experience and supports new technologies such as IoT, blockchain and 3D visualization. Increasing adoption of advanced gaming technologies, rising income levels and changing consumer entertainment options will further support the market growth during the forecast period.

Privacy and Security Concerns challenge the growth of the market. The Metaverse collects and processes large amounts of information about users and their environment. It can access users’ personal information which can pose threat to their privacy. In addition, there are privacy concerns related to smart devices such as VR headsets and smart glasses, as they automatically scan and process the user’s environment. These factors may hamper the market growth during the forecast period.

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Global Metaverse in Entertainment Market: End Users

By the end user who film production segment will make a significant contribution to market growth during the forecast period. Metaverse aims to revolutionize the film industry. It will change the way movies are shot by creating virtual and 3D settings. VR technology is used to interact within this environment. As a result, the metaverse is gaining popularity in movie production and will contribute to the market growth during the forecast period.

Global Metaverse in Entertainment Market: Geographical Landscape

North America will account for 33% of the market growth during the forecast period. This growth is attributed to factors such as the rapid convergence of the entertainment industry and the traction of gaming culture, the integration of gaming services into the service offerings of major entertainment brands, and increased investment to create more immersive gaming and entertainment experiences. In addition, the market growth in this region will be faster than the growth of the market in South America and MEA. The US and Canada are the top countries for the metaverse in the entertainment market in North America.

Global Metaverse in Entertainment Market: companies covered

This report provides a complete list of the major vendors, their strategies, and the latest developments
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Global Metaverse in Entertainment Market: What Our Reports Provide

  • Market share estimates for the segments at regional and country level

  • Strategic recommendations for newcomers

  • Covers market data from 2021 to 2026

  • Market Trends (Investment Opportunities, Drivers, Opportunities, Threats, Challenges and Recommendations)

  • Strategic recommendations in key business areas based on market assessments

  • Competitive landscape design that maps key common trends

  • Company profiling with detailed strategies, financial metrics and current developments

  • Supply chain trends that reflect the latest technological advances

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Metaverse in the Entertainment Market 2022-2026: Key Highlights

  • CAGR of the market over the forecast period 2022-2026

  • Detailed information on factors that will support Metaverse in the growth of the entertainment market over the next five years

  • Estimate the size of the entertainment market metaverse and its contribution to the parent market

  • Predictions about upcoming trends and changes in consumer behavior

  • The growth of the metaverse in the entertainment market

  • Analysis of the competitive landscape of the market and detailed information about vendors

  • Full details of factors that will challenge Metaverse’s growth among vendors in the entertainment market

Related reports

Metaverse Financial Market by Component and Geography – Forecast and Analysis 2023-2027: The innovative features and user interfaces are driving the growth of the Metaverse market in the financial sector in particular. Banks are considering strategies to expand their presence in the metaverse and offer better services to consumers. For example, with VR glasses, customers can do all their banking and financial activities from anywhere.

Metaverse Real Estate Market by End User and Geography – Forecast and Analysis 2022-2026: The growing popularity of mixed reality and cryptocurrency drives market growth. The evolution of VR towards more mixed reality creates readability in virtual spaces by decoding tags and annotations. People accessing Metaverse platforms can buy properties and either sell them or rent them out to others.

Metaverse at the scale of the entertainment market

report coverage

details

page number

120

base year

2021

forecast period

2022-2026

Growth Dynamics & CAGR

Accelerate with a CAGR of 8.55%

Market growth 2022-2026

$28.92 billion

market structure

Concentrated

YoY Growth (%)

7.41

Regional Analysis

North America, Europe, APAC, South America and Middle East & Africa

make a market contribution

North America at 33%

Important consumer countries

USA, Canada, China, Great Britain and Germany

competitive landscape

Leading companies, competitive strategies, levels of consumer engagement

company 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

Root market analysis, market growth drivers and barriers, fast growing and slow growing segment analysis, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period.

customization area

If our report does not contain the data you are looking for, you can contact our analysts and have segments adjusted.

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Table of Contents

1. Summary

2 market landscape

3 market size

4 Five Forces Analysis

5 Market Segmentation by End User

6 customer landscape

7 Geographical Landscape

8 drivers, challenges and trends

9 provider landscape

10 Vendor Analysis

11 Appendix

about us
Technavio is a leading global technology research and consulting firm. Her research and analysis focuses on trends in emerging markets and provides actionable insights that help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies and spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s extensive reporting, extensive research and actionable market insights to identify opportunities in existing and potential markets and to assess their competitive position in changing market scenarios.

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Technavio Research
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Global Metaverse in Entertainment Market 2022-2026

Global Metaverse in Entertainment Market 2022-2026

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